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 ;
2 Nigel Spring & Grahame Sewell
3 Peter Lobbenburg
4 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
Technoplus
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
I Reserve the right to add or remove as appropriate
Rachel Rhodes
Graeme Hossie
Benjamin Lee
Vasile Timis
Technoplus
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
Andrew Perloff
Mr Frank Maguire
Paul Bell
I Reserve the right to add or remove as appropriate
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