UK 02:58 Friday, 9 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
I covered a few cursory matters yesterday (HERE) regarding the stepping down of Andrew Austin as CEO of IGas Energy plc (IGAS) and the diabolical trading statement issued yesterday. We are told that Mr Austin will hang around to ensure a smooth transition – rather reminiscent of the situation at Coms when Dave Brieth stepped down but would hang around for the same reason. Except that in Mr Brieth’s case he was then selling shares in what appeared to be a close period, a bit of a problem but for the fact that he was no longer running the show and, indeed, we gather that he has not been on site since walking the plank. So what of Mr Austin’s holding in IGas – and his disgraceful EFH deal?
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Comments
DUCK AND DIVE
A wonder-ful piece, to be sure. But not sure I buy the theory that AA met his margin call as that doesn’t fit the MO of these EFH deals.
Bob
Good to know that now the Tories are in with a majority. Now they can unleash their power unhindered by those Dead Liberal Democrat Dead Tree Huggers and finally sort The Markets out. Brill!!1!! Time to put your ‘pension pot’ on AIM. It’s good to bend over and share.
nigel somerville
D&D – that is my point: it is perfectly possible that a margin call was circumvented by simply handing over enough shares alongside the 7.5m originally announced to prevent a margin call from being triggered. AA would not want to face a margin call as CEO, and certainly could not walk from it and keep job. At least there is a way to get around telling anyone anything.