The Evil Diaries: “Lord Ashcroft has revealed himself to be a prize ass”

The outlook in this morning’s press was so gloomy as a result of this VW affair, I just had to nick a few points going long on FTSE. That noted, after VW, who is next to be excoriated?

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Lord Ashcroft has revealed himself to be a prize ass. He even paid for all this publicity.

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I can’t lay my hands on the exact words deployed in the South Sea Bubble prospectus of the company that claimed that its purpose was so hush hush no one shall know what it is. But this idea is yet again revived by Concha (CHA) which today offers a “general update”. Central to this statement is that there has been no trade and that after fifteen months of bulls being kept in suspense they’ll go on being kept in suspense. All we need now is for Rob Terry to pop up on the register.

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Proxama (PROX) will, I am told, not have to raise further equity. One reason is that Barclays have lent them £2.5m (albeit on cautious terms). This is a real surprise and confirms the reasonableness of the first claim. PROX is now capitalised at 0.9p or £9m. It could be dearer.

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Finally, Globo (GBO) announce a Letter Of Intent to acquire another whatever. The money proposed to be paid (from where?) is E14m. I think it would be wiser to presume that this deal does not go ahead.