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BREAKING: Powerhouse Energy – surely this is cut and dried industrial scale market abuse

By Tom Winnifrith, the Sheriff of AIM | Tuesday 28 February 2023

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.

Not revealing shareholding changes via a TR1 in a timely fashion should be a criminal offence but is not. It is – in my view wrongly - treated rather like picking your nose and swallowing the bogies in public, as naughty but not serious. And thus, the rules are widely ignored and abused. Yesterday Howard White and his two sons ‘fessed up to ignoring the rules with regard to dumping Powerhouse Energy (PHE) shares. But old Howard is also guilty, in this case, of market abuse. This is black and white and the FCA really should act.
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