Facts5 Jan 2025 10:25
There hasn’t been any placing by Union Jack Oil since September 2021, when they raised £3 million. Since then, the company has focused on generating cash flow, progressing its projects, and even paying dividends. There’s no official indication of a new placing, and any claims of an imminent £2.5 million raise at 7p seem to be pure speculation.
It’s worth noting that spreading such rumors, particularly if they suggest inside information, is not just unprofessional but potentially illegal. Insider trading laws prohibit anyone from acting on or sharing non-public, price-sensitive information. Accusations about the chairman being "leaky" are baseless unless proven. Such tactics often come from short sellers aiming to create fear, uncertainty, and doubt (FUD) to manipulate the stock price to their advantage.
Investors should focus on the company's fundamentals, which show strong progress and responsible financial management, rather than unfounded rumors designed to undermine confidence.