AIM

Beaufort and the Regulators: US Prosecutors Expose Wide Ranging Scam

News began to emerge yesterday of problems at broker Beaufort Securities. Firstly, the FCA posted this RNS stating that brokerages Beaufort Securities Limited and Beaufort Asset Clearing Services Limited had been placing into insolvency, must cease all regulated activities, and that administrators had been appointed who would seek to protect client assets. Not long after, this indictment by the US Securities and Exchange Commission (SEC) came to light, alleging market manipulation in the US by Beaufort Securities and the individual Peter Kyriacou. ...

Sophos, Interquest and Government Policy

Yesterday I missed the Sophos (SOPH) AGM due to having a clashing engagement, but I noticed that in the announcement of the voting results that there were substantial votes against the Remuneration Report (29.8% against) and also high votes against most of the directors. One only needs to glance at the Remuneration Policy to see why. The maximum bonus opportunity is 200% of salary, and the maximum LTIP award is 500% of salary in normal circumstances and up to 750% in exceptional ...

Fusionex – Another AIM Company Disappears into the Night

In an announcement late Friday afternoon, after market close and just before the long weekend, AIM listed Fusionex announced that it will seek to delist from the AIM market. It’s not clear why this is good for private investors, the company is profitable and has no need to raise funds. The RNS says that a meeting will take place in Malaysia on 15 June to vote on the matter, and that all of the Directors representing 41.93% of shares are in ...