UK 23:23 Monday, 21 September 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I own shares in one or more of the stocks mentioned. 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.
If New World Oil & Gas’ (NEW) board of directors gets its way and saves the skin of the naked shorters, then this group could stand to make at least £5million from this fiasco. As disgusting as this figure it, what is most troubling about it is that the group of naked shorters must include a number of regulated firms, who have acted incredibly recklessly and irresponsibly. Will the London Stock Exchange and Financial Conduct Authority stand by and allow this to happen?
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Comments
Darren
This is a test
Phil
Yes that is exactly what is likely to happen.
Your company lawyers have told your board they no choice. You say it every way except the right way. Your company fucked up, it issued a false/misleading RNS and then further fucked up the clarification RNS.
It could have requested a share suspension, again it fucked up because it didn’t. If they now bankrupt the short positions it will create a conflict, and the short market have the right to slam NEW through the courts.Your company that you own, is not allowed to issue false/misleading RNS, it is an illegal act, go read the rules.
Forward selling placement share is not an illegal act, What has made it illegal was your companies fuck up of a false/misleading RNS, and a habitual failure to issue a correction clarification, your company is liable.
I doubt the AIM regulation will allow your company to bankrupt shareholders because it committed an illegal act, and your lawyers certainly won’t allow it either. The short market lawyers will go back in NEW, right back to the start and prove to the courts this is just another of a series of feckless irresponsible actions by an irresponsible, feckkless board, and if you want to check how many then simply check out the previous posts about NEW on SP, , it appears to me they have a more than a good case.
It cannot be in your interests to risk your company being taken through the courts, because they issued an untenable RNS. This company quite simply has a long term habit of fucking up..
I stand my original post, unpalatable as it may be
King bob
How dull.
Ben Turney
@phil – always a good sign arguing with someone when they resort to expletives…
…anyway…
While I agree New World’s board made serious mistakes in its RNSs (both in terms of what it said and didn’t say), the forward selling of the company’s placement is not it fault. The forward sellers did not have an appropriate (or viable, as it turned out) settlement plan and the company’s advisors are responsible for what transpired in the market.
You need to read up on the London Stock Exchange’s “When issued dealing” guidance
Greg
‘It will be most revealing how the authorities ultimately respond to this question.’
They won’t