New World Oil & Gas (NEW)

New World Oil & Gas (NEW)

Blog posts

Cornhill Capital Fined Over AIM Placing

Cornhill Capital have been fined £210,000 by the London Stock Exchange (LSE) over a placing of shares in New World Oil & Gas on AIM. Cornhill was acting as a broker to the company which planned to place some 2 billion shares. That was twice the number already in issue. Cornhill sold shares to its private clients in advance of the placing with the sales to be fulfilled from the placed shares. But the placing required a vote of shareholders and ...

The Case of the Disappearing Shares

Another example of the wonders of pooled nominee accounts has come to my attention. When you buy shares through a stockbroker, you expect to receive them. Indeed settlement should now take place in 2 days if traded electronically as most now are. So if you are using a stockbroker's nominee account they should appear in that account in that period. You will see them on your account so they will be there will they not? The answer is not necessarily! Take the ...