UK 10:42 Tuesday, 6 October 2026
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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.
Yesterday I raised a number of red flags about the proposed listing of Lenigas Cuba on the joke ISDX market. Not least is the sheer greed of Big Dave Lenigas himself – this is the unacceptable face of capitalism.
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Comments
turbograndad
SO what to you get for your money, promises, promises, promises, ah the beauty of it all.
Adge
History repeating itself. A certain Edward Heath said the same about a company called Lonrho. Isn’t Lenigas ex Lonrho himself? Well I never.
Mr C H Ingoldby
I see the name Lenigas and I walk away. Having listened to the man I have formed the judgement that he is a dishonest salesman verging on the edge of being an out and out conman. Anything he is associated with is on my red list.
Barford
Storm in a ‘Tea’ cup! wondered your opinion on Teathers (TEA) purchase of 5m shares at the pre ipo price of 2p as Announced on Friday, did not the pre ipo happen prior the isdx prospectus so if they invested then at pre ipo why no rns at the time then.
And if they invested last week I’m sure potential ipo investors will be delighted to see they have to stump up 150% premium on teachers buy price.
This all looks a bit close really as yes they an investment company yet one of their other investments is the app doing the ipo is that not termed insider or related party?… Has Shard done all its proper FCA compliance on this ….
Ben Turney
@Barford – I looked at that this morning and 5million shares is 1.02% of 490million so TEA did participate in the July fund raise. I’ve had a look at the AIM Rules. I am unclear whether or not an investment constitutes a change in the company’s financial position. Going to keep scratching around.
Barford
Thanks Ben, yes I can see it was July now so the question is why did they not notify the market of a material investment as per aim rules as I checked their update at end July and their no mention of investment or likely investment but they did state they would notify the market of any investment as per aim rules…
I suppose the water would be mudded if it turns out they selling shares as part of ipo as I’m sure they not want isdx shares as of course in July it was going to be listed on aim or standard! Since their subsidiary is involved in the FCA regulated ipo im sure the nomad has been extra careful in these transactions.