1782 days ago
Disgraced fund manager Neil Woodford has sent an email to IFA’s begging them to not only stay with him but to send a templated email to their clients urging them to do the same. The Woodford email is below and, sadly, scores low on the veracity front.
1935 days ago
In today's bearcast I bring you a hot rumour. The King of the spiv bucket shops Jon Bellis of Novum is apparently trying to raise £4 million at 10p for Anglo African Oil & Gas (AAOG). I look at Sound Energy (SOU), Andalas (ADL), delays in selling houses and in a similar vein what IFA's who have put clients into Woodford funds do next. I also look at Gear4Music (G4M) and director share buying which is a sell signal. I make a brief comment on Optibiotix (OPTI) and almost tie it in with a mother-in-law joke but resist the temptation.
3562 days ago
Fund Manager Robin Christie was arrested earlier this year and this week, I am led to believe, the Crown Prosecution Service will decide what charges to press against him. Meanwhile around £25 million invested in funds he created has disappeared. The cash was supplied by IFAs and it is not clear yet whether all ultimate investors know what has happened. The real red faces are round at the FCA which (under its previous guise as the FSA) visited Christie in 2009 and gave him a clean bill of health.
Christie’s funds at Propertybourse based in the Channel Islands invested in German and Tuscan real estate. He also established the Campbell Property Student Accommodation Investment Fund (Birmingham) LP. You would have thought that investing in Birmingham real estate over the past three years was a nil brainer but er…it was last month revealed to be worthless.
It
4295 days ago
My pal John Lappin has produced a very good piece on the Lighthouse EGM in which he reckons that more than 30% of shareholders will certainly vote NO. And I know a few more – this number does not include any private investors who we know are all voting no. So the delisting proposal will not get the 75% it needs. Frankly it might even be defeated.
I explained earlier in the week why shareholders must make the effort to vote, should vote no and should then demand the head of Chairman David Hickey.
4296 days ago
Using the services of their 3 PR firms and 2 brokers, no doubt, the wretched directors of AIM listed Lighthouse Group (LGT) has issued another statement imploring shareholders to support plans for a de-listing. Remember they need 75% support. I reckon that they are worried and fear defeat. If the proposal is rejected as it should be, an honourable board would step aside. This s not an honourable board but their hand could be forced.
Today’s statement contains nothing much new. The company says it will arrange for a matched bargain share dealing facility post AIM. That is no good. All that facilitates is directors offering to buy stock for peanuts
