ACF equity research20 Jun 2020 10:21
thatโs the company which produced the rampy report which in theory should
only have been viewed by professional investors, but was then inappropriately
published to retail investors (aka amateur punters). (remains unclear if there
ever were any professional investors who bothered to read it or took any notice.
thatโs the report some on here have called an independent research report,
but which is clearly a โmarketing communicationโ from the FCAโs perspective.
ACF warns that it took no steps at all to independently verify any of the info
given to it by unspecified sources. from the filings at companies house, as
broxbourne noted yesterday, ACF seems to be a one-man band. itโs late filing
its accounts this year, and previous accounts show a total balance of just over
ยฃ2000. they were struck off in 2015 (appears for late filings) but then got an
administrative restoration. this tiny outfit acts as a representative of City &
Merchant. their group CEO is tim lyle, who helped organise whetstone capital,
until tim resigned as director in april 2020. whetstone was run by allan biggar,
and associated with aiden earley, who repeatedly touted it in his blog as a newco
being set up as a new opportunity for pis in WRN that had gone into liquidation.
ACF equity research does appears on the FCAโs register, although still
showing an old address that ACF moved from about three years ago.
(perhaps theyโll get round to updating it once they file those overdue accounts.)
this is the company which ian describes as reputable,
although he offered no basis for that assessment.