UJO cannot pay a divident until they cancel the losses brought forward on the p&l. The losses on the p&l could be cancelled by using the surplus on the share premium account but it would require court approval. Nothing likely to happen until production of the next set of accounts. No doubt plenty of work going on behind the scenes to produce a clean and clear situation for the financial year-end (Dec 31) to vanquish the derampers, naysayers, and purveyors of inaccurate and scurrilous information.
The teaser in the email message today from Share Prophets is "Union Jack is now the most toxic stock on AIM". TW then qualifies the statement by stating in the text that "the stock is now possibly the most toxic on AIM". I am no longer a subscriber to this daily publication so I do not know the grounds for making such a statement. I can only hope that the management and the Nomad put up a robust defence and take legal advice if necessary. It looks as though Share Prophets may have been asked to disclose their sources that UJO were having a placing a couple of months back.
Maybe they have locked in the price by selling forward. I don't consider the price of oil to be the key risk here but maintaining production is.
Up on five successive days. That last happened in December 2020. Someone must be accumulating.
There needs to be a stewards' enquiry. Someone cannot be a journalist/Sheriff of Aim/ tipster one day, and purveyor of doom and gloom the next. AimCasino sums up the situation here admirably. DB needs to stop talking to these people. There's enough interest in the company and what it is doing without resorting to such third parties.
It's a small amount to raise. Either there wasn't the support for a larger amount, or DB has thankfully taken onboard that the best way to capital growth is through development of assets rather than purchasing income streams. West Newton awaits. He could have got this away at 30p if he had played his cards correctly.
DB knew last week how Wressle was going so why didn't he wait until the news was out before attempting a placing. Using boxing parlance, he might be leading with left (Wreslle) before stunning Investors with a nasty blow to the midriff (West Newton).
I made some comments about TW's antics on SBTX about a month ago.
The leak to a journalist who calls himself the Sheriff of Aim still needs to be explained.
UJO has carried out placings in March 2018 (£1.25 M @ 17p new money), March 2019 (£1.75M @ 15p), June 2019 (£2.25m @ 34p), November 2019 (£5M @ 30p), September 2020 (£7M @ 32p). Each time the amount raised has increased. The share price to be obtained in any immediate placing is likely to be below the last three placings. With the other placings there has plenty of opportunity for those who subscribed to make a reasonable turn before DB asks for another prescription to fund his spending habits. However since the placing last September, also on the 17th (perhaps DB marked the date in his calendar), the SP performance had been lacklustre. The high has been 42p and the low 24p. This is the wrong time to be raising funds. Even those who subscribed last year are under water.
Surely the financial results are due any day now.
Chart looks pretty awful. Held these for nearly a year. Liquidated my position. GLA.
For size of population, these are the major markets in the two regions, one portuguese speaking, the other spanish. A good start.
I used to subscribe to the daily Bearcast. While he is very good at unearthing skullduggery on AIM stocks, he is a journalist. I then discovered that he is also a tipster through another online publication, and an investor in some of his recommendations. Difficult to be independent in that situation. In horse-racing jockeys cannot place bets.
Since there are well over six months to go in the tax year, unlikely that he will rush to clarify his CGT position. Hopefully by the tax year-end approaches AGL sp will be a lot higher than now thus reducing the number of shares he needs to dispose of to meet the tax due from the chargeable gain.
I hope that their financial resources are sufficient to meet the timelines set out in the message.