The Evil Diaries: Watchstone, Orosur, Proxama and Mulberry

I am told that Watchstone (WTG), formerly Quindell, are in Court this afternoon with a view to getting permission to distribute the 90p a share as scheduled in the RNS of 9th November. I can’t see such permission being denied. So I bought another 50,000 WTG at 97p. I do not know how Hymex and Ingenie are going. But I trust the new board to get it right. At a guess the residue of WTG is worth 30p a share.

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I noted the slump in Orosur (OMI) to, as it turned, out 5p offer. So I bought another 300,000. The selling came from Cantor, OMI’s broker.

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I was speaking to the chairman of Proxama (PROX) last night seeking enlightenment on the incidence and/or denial of EIS relief in earlier fund-raisings. But, as regards PROX’s current prospects, he has clearly got work to do. He might succeed.

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Mulberry (MUL) today reported its half year figures to 30th September. The figures are pathetic. MUL is capitalised at £560m and is probably worth a third of that at most. However, it is quite another proposition that the share price will go there. This is because it is being rigged. I decline to say by whom since the law of defamation does not permit me.

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Finally, Fergus Wilson and his wife are chucking out their £250m buy-to-let portfolio to a grouping of Indian and Chinese investors. I bet Fergus will get the better of this bargain.