UK 02:00 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’ve been a bear of Igas Energy (IGAS) ever since previous CEO Andrew “piggy” Austin’s shady dealings with Equities First Holdings LLC (EFH) when he walked away with millions in cash whilst still being able to claim that his interests in the shares were unchanged by the transaction. It ran rings around the disclosure rules. Ever since he walked (or, more likely, was pushed) it has been clear that he left the company drowning in debt and sitting on a ticking time-bomb. Yesterday came a surprise move, but one which could, perhaps, spell the end of the road for equity holders. Quite why the shares spiked (albeit temporarily) on the news is a mystery.
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