Tom Winnifrith Bearcast 22 March

Comments

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   drunken sailor

   22 March 2015, 15:41

   Tom,

   I agree with you regarding low market cap stocks not being on AIM. However TXO burned £600k per year and about half of that went into directors pockets in fees and related party transactions. Whinging about AIM costs and internet trolls, whilst the directors have their snouts in the trough sucks. TXO passed resolutions to cap non exec fees (they have 4 non execs!) at £40k (2 nurses) so they could introduce a bonus scheme!!!!

   You were unkind to 3 Legs resources a while ago – which has become a new shell and is looking to reverse something of value in, if it can (no guarantee). Directors are on a salary of £5k per year (1/4 Nurse) and they don’t actually get paid that until they do a major deal. If 3 Legs do pull it off, of course directors will have their options et al and why shouldn’t they? They will still have to pay the crony capitalists in the meantime, but at least the directors do not have their snouts in the trough like TXO. TXO became an AIM investing company nearly 4 years ago. In that time the number of shares in issue has increased 25 fold! The share price has dropped 99%! and directors have enjoyed a nice lifestyle, but it has not received a single penny in revenue in all that time!!!!

   Your earlier article on TXO was spot on. And so is everything you say about it not being companies, but individuals that need to be brought to book. I know it is an American expression, but 3 strikes and you are out needs to be applied. The management at TXO are a disgrace, but they will be back on AIM sooner or later doing it all again and that is what really needs to be stopped.. But will it be? Pete Landau is another prime example where a 3 strikes and you are out rule would really help. What is the point of cleaning up the cesspit one turd at a time, if all that happens is that you flush one away only for it to reappear as an even stinkier one a bit further down the line?

   Do let us know if TXO do cough up to attend UK Investor this year, as I am sure there will be enough TXO shareholders who will snap up the final few tickets to come and tell them what they think of the market abuse and profligate trouserring of shareholder cash to fund lifestyles that has gone on.

   There is a reason why TXO has been through 3 Nomads in under 4 years and why despite having talks with at least 3 other Nomads they could not find one stupid enough to take them on and it has everything to do with the way management have lied to everyone, whilst looking after itself, and nothing to do with “internet trolls”.

   As far as dealing with radical Islam is concerned, you are right the West has not got a clue, but is doing nothing the right answer either?

   Islam is in its 14th century and behaves a lot like Christianity behaved in its 14th Century. We would do a lot better sacking all the political scientists, who think everyone should behave in a 21st century manner, and replacing them with medieval historians.

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   zeronegative

   23 March 2015, 01:22

   Hi Tom,

   Betaville’s source is 100% the LSE board. This was posted by Creamy BEFORE Betaville article appeared.

   More market abuse from an LSE poster as he is stating it as a fact – wonder why it hasn’t been remove and user reported.

   “The offer will be £640M + 12 month earn out of NIHL fees on a 50/50 split.

   It WILL be announced on Wednesday next week with a back stop of Friday in case paperwork has not been concluded by Wednesday.

   That is fact, you can take it to the bank , END OF CHAT FURRY PAWS”

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   Sweet Karolina

   23 March 2015, 03:41

   Zero,

   ASX has its faults like any market, but one thing it is really hot on is calling trading halts when a big deal is in the offing:

   http://www.asx.com.au/documents/rules/Chapter17.pdf

   Rule 17.3.2

   SGH went into trading halt prior to announcement of Fentons:

   HTTP://www.asx.com.au/asxpdf/20130819/pdf/42hr2zmwmyjnfh.pdf

   HTTP://www.asx.com.au/asxpdf/20130821/pdf/42hszc65zw7386.pdf

   Where is the trading halt for the QLS deal?

   Note they only have to do this for material items, buying a 2 bit outfit out of petty cash does not require a halt.

   Harrington is a market abuser being fed by whatever crap suits QPP.

   You will know if a material offer for QPP is in the pipeline because SGH will call a trading halt. No trading halt means no offer in the pipeline and QPP via Harrington and others is deliberately misleading you and committing market abuse.

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   Lonster

   23 March 2015, 04:31

   Quick question… I think it has been almost 2 weeks since your hearing at the High Court, has Aiden Earley settled your costs yet?

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   Bobby Boogies

   23 March 2015, 06:22

   Hi Tom, I’ll start stating that I agree with you 100% on your stance on intervention in the Middle East even though I am one of those “deluded lefties”. I want to correct one thing that is annoying me slightly in that you have claimed several times that Ron Paul coined the term Blow Back. He didn’t the term was first used in a CIA report circa 1955 in regards to unintended consequences in what they were doing to Iran. The term was first brought to popular use by American author Chalmers Johnson ,a leftie to boot, and Mr. Paul started using the expression afterwards. Mr. Chalmers wiki entry in case you are interested. http://en.wikipedia.org/wiki/Chalmers_Johnson

   Anyway great podcast.

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   Bobby Boogies

   23 March 2015, 06:36

   One more thing when the US put the Shah in power in Iran they overthrew a Prime Minster, named Mohammad Mosaddegh, who was democratically elected. Yep, the west spreading democracy since 1953. They apparently did not care for his politics. Here is the Wiki link to the events in question. http://en.wikipedia.org/wiki/1953_Iranian_coup_d%27%C3%A9tat