Sunday, 6 March 2016

Aim rules have failed to protect shareholders

Aim rules have failed to protect shareholders

Sir, As a meaningful shareholder and (smaller) loan-note holder in Sorbic, I read Patti Waldmeir’s article ( May 27) with great interest. This is indeed a terrible state of affairs, whereby the system created to give reasonable protection to shareholders of Aim-listed companies has failed completely.
The Aim arm of the London Stock Exchange has allowed so many flaky Chinese companies, where corporate governance is seemingly an unknown concept, to list in London. What information on Chinese executives holding corporate seals and licences, and therefore total control over the companies’ finances, was given by nominated advisers (nomads) and brokers? Precious little I think.
Is the lack of action (by the London Stock Exchange) on these many scandals the result of brushing a problem under the carpet so as not to annoy the Chinese authorities or a fear of putting off further lucrative Chinese IPOs (with big fees for the LSE), or a combination of both?
I have been pressing the company for some time to come clean on this affair. Now, with your assistance, it has. However, the biggest scandal is the complete lack of protection for shareholders under Aim rules at all stages in the life of such companies. Compensation from the LSE, nomads and brokers is surely due?
John Gunn
London W8, UK

Of course we can add not just Chinese companies . But , those such as Southern Cross , London Mining and Afren .To name but a few ............

Bad People list added ;

1 David Ross                                      
2 Nigel Spring & Grahame Sewell
3 Peter Lobbenburg
Mark Opzoomer & Rob Gorle
Stuart Doughty
Ian Johnson
Sean Nutley
Ray Horney

Peter Procopis   (  Under Revision )
Howard Shore      (  Under Revision )

Mr Mart Habakuk        (  Under Revision )
Mr James Kenny       (  Under Revision )
Mr Paul McGuinness            (  Under Revision )
Margarita Novikova            (  Under Revision )
Katrin Karemäe            (  Under Revision )
Margarita Novikova       (  Under Revision )
Dominic Bacon
Lindsay McNeile
General Jacinto Veloso     (  Under Revision )
Diogo Cavaco                      (  Under Revision )
Rachel Rhodes                        
Graeme Hossie                         
Benjamin Lee                           
Vasile  Timis        

Robin Ashton
Tracey Graham
Sterling Brinkley
Tom Roberts
Geoff Brady
Ciaran Morton
Lord St John of Bletso  
Solomon Passy 
Ionut Costea 
Robin James 
Donald Lake 
Charles Jillings 

 Mark Tincknell 
Roy Gardner
Stephen Hill

Andrzej Sobczak
Nicholas Myerson

Peter RS Earl
Colin Emson
Marcelo Blanco

Richard B Shead
Richard V L Wilkins
Oliver C Prior

Ian Gowrie-Smith
David Lees
Peter Wright

Charles Sebag-Montefiore
Charles DesForges
David Walker
Frank Molter

Christopher Howell 

Sean Nutley

James Menzies
Jonathan M Copus
Mike Buck
Charles Morgan

Mark Molyneux 

Craig Cameron, 46, of St Brelade

Frank Timis / Timis Corporation 

Robin Farrell and Robert Addison

Phil Jackson

Michael Hitchcock
 Andrew Perloff

Mr Frank Maguire

Paul Bell 

I Reserve the right to add or remove as appropriate

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