UK 18:25 Friday, 23 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.
A few interweb problems here in Eire, so I have nipped up to Darina Allen's Ballymaloe house to book supper for tonight - a mega culinary treat for the Mrs and myself and to upload another hard hitting recording. On the agenda is Quindell and how soon its shares could be suspended for the Equities First Holdings LLC farce. Also a discussion of the whole issue of suspension and where the AIM casino will go post this scandal. There are some hard questions here for many. Then I also look at African Minerals (target price 0p).
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Comments
drunken sailor
Fox-Davies also told TXO to find a new Nomad at end Jun 2013. It did not give them a deadline though and it took TXO until Nov 13 to get taken on by Northland. I spent 2 1/2 hours with Northland at end of Nov 13 filling them in on what a nightmare they had taken on
diabel
……whistleblower coming next week – with documents – will apparently prove fraud. However, you ain’t seen the person – or the documents – although here you are screaming fraud all the same. Yea, yea just another day banging away at fraud. You further claim FEH have already sold RT’s shares. Again, any evidence? No, of course not, just more forensic Pulitzer guesswork no sorry financial journalism. And in the midst of the throngs of corporate death what are the shorters doing – smelling blood and going for the kill – you did value the business as worth 0p
Well ….actually there closing their shorts. Funny that Tom!
Do you really believe RT would mislead the market at such a sensitive time and be that stupid? Nobody does. Not even the shorters. Only you. In fact not even you. Confusingly, your not certain either as you then advise the longs that the ‘uncertainty’ of your claims – viewing the risk/reward ratio – might only be worth 20-25% on the upside. What an utterly desperate podcast. I’m sure – since your in ireland – you were told all this by a small creature clad in a red or green coat. Since you mentioned Xmas you’ll no doubt be meeting Father Christmas and Santa too.
zeronegative
Hi,
Diabel – go read the citywire article about TIG and Rob Terry’s form – shorting your own company while shareholders get hammered.. here is a short exert.
“We cast doubt on TiG’s prospects over a year ago when Terry and finance director Stephen Scott in December 2001 took the highly unusual step of hedging part of their stakes in the company. The pair bought a contract from UBS to hedge against the company’s share price falling when the shares were trading between 310p and 367p. Terry subsequently made £4.9 million last June by selling shares at 269p”
Sweet Karolina
When are some BBMs going to pull their heads out of their arses. When will there be enough evidence for them?
When the share suspends?
When the share delists?
When RT is convicted and sent to Jail?
Or will some of them be there outside the jail with placards proclaiming RT is innocent.
All a bit late by then to get anything back on your investment.
Now if RT were to follow through on his libel threats, then the disclosure process would give Tom access to all the documentation he needs to 100% conclusively prove what he has been saying for months is absolutely true. I wonder why RT is only prepared to make empty threats?
J.A.
This is from a white paper on the EFH site.
“EFH employs the collateralization of a repurchase agreement as the financial instrument for
lending. Under a repurchase agreement, the borrower sells the collateral to the lender at a
negotiated price for the period of the loan. At the end of the term, the lender agrees to sell an
equivalent number of shares back to the borrower. By repositioning portfolios between
securities and cash, EFH makes market-neutral spread trades over the course of the loan life
without affecting the stock or security price. This constantly evolving position allows EFH to
consistently repatriate loans and, at the same time, give lower-than-market interest rates and
higher LTV ratios. Based on experience and a successful track record in returning collateral to
the borrower, most loans require a term of at least 36 months to set a favorable interest rate and
LTV ratio.”
Seems as if they’d use derivatives, rather than the actual stock itself. Still perplexing how the initial payment is funded, very murky. This share transfer process is clear as mud, there’s little clarity over the exact appearance of the shareholder register after the deal. The Cenkos note needs to be underpinned imo, if they don’t run due dilligence over that then they’re idiots.
Scott Sanderson
Surely Cenkos would do the due diligence BEFORE publishing their note i.e. they’ve already done it.
Why issue a note and do the diligence after??!
Sweet Karolina
It is very simple really, they sell the shares, they know the owner does not want them back. I doubt they have managed to sell them all yet as the volumes have not been there to do it. But you can be assured they have sold more than enough to cover initial draw downs. The suggestion that they are doing some sort of derivative trading to cover their risk is absurd, if they were that good at derivative trading they would not have a balance sheet as thin as they have and they would not be an unregulated business with lawsuits against them for selling shares without permission
J.A.
@SCOTT SANDERSON
The deal isn’t between QPP and EFH, it’s between the ‘Purchasing Directors’ and EFH, and the note also states that the loan will only be used to ‘buy equity’ (not specifically QPP equity but let’s give them the benefit of the doubt). I would hope that for the sake of transparency Cenkos will be monitoring the share register for any existing and future share transfers to EFH and making sure that a corresponding QPP equity purchase follows. A system of checks and balances is vital here, otherwise it may seem as if the BOD is just siphoning off cash. This all sounds utterly bizarre as I read it back, we’re obviously through the looking glass here.
What are the legal commitments from the BOD to buy QPP equity? Let’s hope this is more than good faith.
Tom Winnifrith
Diabel & Martin
1 short is reducing its holding. Others are increasing. Lets see what happens shall we.
As to Ireland. I am of (vague) Irish descent and am not “now” voicing my views. I have done so for years and if you watch the video you will see that my views are perfectly balanced and reasonable, only a diehard IRA man would disagree with me.
Diabel – would RT mislead the market. Sure, he is issued RNS statements that were total lies before why nit do it again, that is what fraudsters do.
Best wishes
Tom