SwissPaul wrote:And the smell just keeps on coming
24/12/20 @07.30
OCTANGONAL
Trading on AIM for the under-mentioned securities has been temporarily suspended from 24/12/2020 7:53am, pending an announcement.
24/12/20 @13.30
Statement re Suspension
In relation to the suspension in trading of the Company's Ordinary Shares on AIM this morning, the Company makes the following statement regardingCompany's principal trading subsidiary GIS:
"The Company notes the decision of the U.S. Securities and Exchange Commission to file a complaint alleging that Global Investment Strategy UK Ltd. ("GIS") violated section 15 of the Securities Exchange Act of 1934 by acting as a broker-dealer in the U.S. without registration with the SEC.
The complaint omits several material facts. In particular, the complaint fails to note that GIS neither accepts nor executes orders for U.S. persons.
GIS is a broker, registered with and regulated by the Financial Conduct Authority in the U.K., and provides a broad range of brokerage services in the U.K. GIS' services to U.S. persons, however, are limited to providing secured financing to professional investors and traders. GIS' financing services are all provided after the borrower has already effected the transaction through another broker-dealer. The complaint misleadingly describes these other broker-dealers as introducing broker-dealers, but they are not GIS' correspondents and do not introduce accounts to GIS. GIS does not provide brokerage services to U.S. persons and intends to defend the allegations by the SEC."
This is after:
17 /12/2020
The Company also wishes to advise that it is finalising proposals to seek Shareholder's approval to de-list the Company from AIM pursuant to AIM Rule 41 (the "Cancellation"). The Directors have conducted a review of the various benefits and drawbacks to the Company and its Shareholders in relation to retaining its listing on AIM. The Directors unanimously believe that a potential Cancellation is in the best interest of the Company and its Shareholders:
Backside dropped out of the share price that day. I suppose that is one of the downsides of (can I use the word 'investing' ) putting my money to work in a company where the founder holds over 52% of the company
As an aside he also holds 51.03% of Inspirit Energy Holdings - please note
Salutary lesson to self. Dont invest in companies where Mr John Gunn is CEO
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not to be confused with inspired energy INSE.