Tom W article today23 Apr 2018 18:26
AIQ Limited (LSE: AIQ)�.. notes the recent significant increase in the Company's share price and confirms that it is not aware of any reason for such movements.
That RNS was signed off by Chairman Graham Duncan. Well, Mr Duncan, today�s suspension casts your statement in a rather unenviable light, does it not? Did anyone at the company check what was going on or did they all look the other way? Again, why was I bang on the money sitting at my dining table with no office support or advisers to call, yet the company simply got it wholly wrong? Was it not completely obvious that there was a disorderly market?
One has to say that it is difficult to imagine any credibility remaining in the AIQ boardroom after that. Who would believe a word they have to say now?
So do we now have to sit around for another three and a half months whilst the company scratches around to sell a few more shares and claim the disorderly market has been dealt with? Would the UKLA and the LSE buy that, once bitten and all that? Who would bet that it would work if it has not worked the first time?
Will the LSE and UKLA man up properly and throw AIQ off the market altogether? Or will they look for the easiest solution (printing more shares) in oder to dust the matter neatly under the carpet?
And what happens to those who bought shares at 150p today? Will they get their money back?
How on earth did this company get past the UKLA in the first place? The IPO shares were issued on paper and the recipients got them after the stock had listed � and then had to dematerialise them. And someone was surprised that there was a disorderly market? What on earth did anyone expect?
And let us not forget that the listing paperwork missed out a few important details in the directors� CVs. And, of course, there was plenty of evidence linking AIQ to dodgy schemes in Malaysia and China which was only taken down after my pieces HERE and HERE were published, and denied. I accepted the denials, but why were the links taken down so late on?
This whole exercise had been an absolute joke. It makes a mockery of the Official List of the London Stock Exchange � it even makes AIM look well regulated, which really is quite an achievement.
Hang your heads in shame, the bloody lot of you.
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