UK 17:29 Monday, 26 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Do you remember the ups and mostly downs at TXO? It was booted off the AIM Casino in March 2015 because, rather than accepting the offer of a new Nomad which was conditional on the CEO, Tim Baldwin, and one of the Non Execs, Chris Foster, quietly stepping down, Tim decided it would be better for shareholders for the company to be booted off AIM and seek an alternative listing elsewhere. That has not happened nor has the much promised Annual Report to 30 Sep 14 been produced and is now 6 months late). You may also remember that TXO had a 20% shareholding in Athabasca Resources which was going to list on the Casino bringing vast wealth to TXO, thanks to the great deal Tim did getting in on the ground floor.
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Comments
wildrides
Why cant someone float a barge pole company …………. they just dont make them in the quantity and size required any more to fend off all the AIM shite in general and Baldwin in particular .
corbs
wildrides; maybe newt will tell us about the logging too (not a barge pole pun either) :-)
drunken sailor
With big Ray cleaning up his act do they still have a Nomad? The administrative record (lying in annual report (issued late), late issue of SH01s, re issuing SH01s and failure to get the annual return in on time) will also stand against them at an IPO, quite aside from the wonder technology and the miracle invention of cash, whilst miraculously making shareholders’ money disappear, which admittedly is fairly commonplace on AIM.
Could they now be targeting a “Standard Listing” instead?
TXO had debts of around £400k to repay by end of Oct. 2M Athabasca shares @ 25p would solve that problem, if they can find another mug punter to buy them from them. More likely those creditors who would like to see at least some of their money back will force administration to get anything that has any value flogged in a fire sale. It is worth noting that the fire sale of RAM assets did not even raise enough to pay the administrators fees. The best they did was to sell Alpha Prospects shares (a Tim Baldwin and Chris Foster company that RAM “paid” over £250k for when Tim was in charge of RAM) for £12k to Chris Foster!
Roll on the filing of the Athabasca Annual Return so we can all find out who these complete idiots are who are wasting £1.5M. I would not mind betting that one of them is Thames Valley Capital / Bruce Gordon – he always backs Tim’s train wrecks and he never learns.