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ZAI scandal: first clients announce new Nomad, but ten facing suspension on Thursday

By Nigel Somerville, the Deputy Sheriff of AIM | Tuesday 17 October 2017


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.


Last week we had the shocking announcement of the culling of ZAI Corporate Finance as a Nomad by AIM, apparently due to a hip operation on one of its Qualified Executives. Of course, there is more to this than meets the eye, as discussed by Tom Winnifrith HERE. But aside from the actions of AIM as judge, jury and executioner – all behind closed doors – there is the issue of what happens to the clients of ZAI who use it as Nomad. Of twelve companies which announced they were looking for a replacement last week, we have now had two transfer – to Northland Capital Partners.


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