Late on Friday last, GCM (GCM) offered two RNSs. The first was the advice that GCM had borrowed £3m for two years with no interest payable. However, the lender “has the right to convert the outstanding balance at a subscription price of 11p”. Shares thus derived are locked up for two years running from the…
After yesterday’s comment on Proxama (PROX), I decided that it would be helpful to expand the comments so that readers could have a better idea as to what is going on. Here I again enlisted chairman David Bailey’s assistance and he advises that Proxama’s marketing business is focussed on Bluetooth beacons. The beacons “push” a…
Following up on my short USD/EUR comment yesterday a reader comments: “I am sure that you are aware of this, but the ETFS 3x Short EUR Long USD fund would be a simple [albeit risky] way to enable individual investors to take advantage of an appreciation of the USD against the Euro: http://www.etfsecurities.com/retail/uk/en-gb/products/product/etfs-3x-short-eur-long-usd-seu3-lse” I do…
Right now there are approximately 1.09 USD to the Euro. A source whom I respect and trust came on overnight and unequivocally asserted that, by Christmas, that figure will be less than 1.0000. This is an opportunity to make a substantial profit. I add that my source is not given to emotional outbursts. He is…
Today’s RNS from Plus500 (PLUS) does not allow hard sensible conclusions. I know that Odey has bought again and I also know that the fund manager in question is not even remotely an idiot – a fact that I established over an extended lunch at Le Gavroche. However, and starting with the “Group Summary”, the…
I am surprised that Plus500 (PLUS) has come back from suspension since it had death wish stuck all over its intellectual mien this morning. However, the RNS accompanying the restoration of trading is merely further dissembly. Readers are warned that it is difficult or impossible to borrow stock – a constant feature of frauds. But,…
Plus 500 (PLUS): I have nothing special to say save that a bookmaker must pay out customer deposits and Plus500 does not. It is announced that the suspension is temporary but, in the light of the very serious allegations that cannot be dealt with until entirely cleared, I think this suspension could go on for…
No sooner had our earlier piece on Trinity Mirror (TNI) been published than Mirror rushed out an RNS which, no doubt, was intended to reassure. It does not. The provision for phone-hacking damages is now increased from £12m to £28m and Mirror advise that they are considering seeking permission to appeal. A lawyer tells me…
There is a disconnect going on here. I mean, this morning’s Guardian runs a story on Sadie Frost’s damages claim which she has won from Mirror. I hear a figure of £250,000 plus legal expenses. Since this sort of pole-axing amount is to be repeated many times to come, one must presume that Trinity Mirror…
For months now I have assumed that Plus500 (PLUS) is a fraud. Nothing adds up. Anecdotal evidence of wholly improper conduct piles up. But the proof of a sustained deception has been hard to come by. And at last there is something really concrete. Overnight a source has again contacted me with the results of…
