Having been stimulated by Ecojon’s focus on Imram Ahmed I commented last week about his previous company Hoodless Brennan who were pretty notorious for boiler room tactics on AIM and Plus market shares. I was not suggesting any such situation with Rangers although in fairness the tactics of boiler rooms are to attack and pressurise private investors. There is usually never any institutional involvement in these situations for obvious reasons ie the institutions are not usually stupid.
Rangers fans, I am sure, are not stupid either, although they want to believe badly. Boiler rooms use hooks on people such as greed, pressure, threats etc and “believe badly” could be considered a hook in my opinion.
We have all been following the insane antics of Charles Green as he attempts to get Rangers fans believing in him. I do not have to name all his quotes otherwise I would be rivalling Tolstoy. I will quietly mention that it must have been difficult for Chic to first get involved with Zeus in february as he claims when I note that Imran only joined Zeus in April!
Imran left Hoodless Brennan to form Allenby Capital and had 80% of the share capital having invested £200k. He was quoted at the time as “wanting to do things differently”. A fair enough comment given the reputation of twice FSA fined Hoodless Brennan.
So I thought I would have a look at the Allenby portfolio and measure its success. Firstly however I was interested why Imran had sold his company. Companies house now reveals the two new joint owners of Allenby as being HB Markets PLC and Appleby Trust Jersey……..HB is short for Hoodless Brennan…..and Coybig revealed yesterday that Mr John Patrick Brennan was on the board of Simply Stockbrokers who are handling Rangers internet share dealing. I conclude therefore that Imran and Hoodless Brennan are still associated and working with each other.
Before I list the portfolio I have to say that I have tried to obtain the starting share positions on the portfolio and the latest traded position today. These companies are all AIM penny shares and have had plenty of advisers so Allenby are not responsible for some of the drastic figures I am going to detail. I mention dilution a lot in this portfolio and it basically means that when a company needs cash it has to create new shares to sell thus diluting the existing shareholders.
Rangers are a classic example in that the company has circa 22m shares with a value (set by Chic!) at £20m. He needs to create another 22m shares to raise cash (for what ever purpose) thus diluting the existing shareholders. On a general positions lots od dilutions are bad news as this means the companies need CASH and have to sell more shares to keep going or in a more positive view acquire or invest.
I will start off with the Allenby quoted portfolio-:
3D DIAGNOSTIC IMAGING Health Care Equipment & Services 3DD
AFC ENERGY Technology, Hardware and Equipment AFC
ATLANTIC COAL Mining ATC
AVIA HEALTH INFORMATICS Software & Computer Services AVIA
BRADY EXPLORATION Natural Resources BRDY
CELLCAST Media CLTV
EMPRESARIA GROUP Support Services EMR
EVOLVE CAPITAL Financial Services EVOL
GEM BIOFUELS Food Producers & Processors GBF
GLOBAL LOCK SAFETY (INTERNATIONAL) GROUP Support Services GLOK
ILIKA Alternative Energy IKA
IPSO VENTURES Financial Services IPS
JELLYBOOK Media JELY
LED INTERNATIONAL HOLDINGS Technology, Hardware and Equipment LED
MEDILINK-GLOBAL UK Support Services MEDI
MERCHANT HOUSE GROUP Financial Services MHG
MOBILITYONE Support Services MBO
MONEYSWAP Financial Services SWAP
MTI WIRELESS EDGE Technology, Hardware and Equipment MWE
NASSTAR Technology NASA
NOVENTA Mining NVTA
PALACE CAPITAL Insurance PCA
PROTON POWER SYSTEMS Alternative Energy PPS
RESOURCE HOLDING MANAGEMENT Media RHM
RTC GROUP Support Services RTC
SERVISION Technology, Hardware and Equipment SEV
STRATEGIC MINERALS Metals & Mining SML
STRATEGIC NATURAL RESOURCES Mining SNRP
TEJOORI Investment Services TJI
THE WEATHER LOTTERY Gambling TWL
TRICOR Technology TRIC
URALS ENERGY Oil & Gas Producers UEN
VANE MINERALS Metals & Mining VML
XG TECHNOLOGY INC Technology XGT
3D Diagnostic Imaging – no profits ever recorded, share dilution of 3x floated at 6p now trading at 0.125p
AFC Energy – never profitable, shares diluted 3x. Placing in 2008 at 11p per share and currently trading at 35p
Atlantic Coal – never made a profit in seven years, 10x share dilution. Placed by Hitchens (ex employer of Chic) at 2p currently trading 0.305p
Avia Health Informatics – no profits ever recorded, shares heavily diluted, raised start monry at 60p now trading at 7.5p
Brady Exploration – no profits ever recorded, heavy share dilution, raised original funding at 115p…this is a long story. This company used to be called Capscon…do not go there!
Cellcast – made a maiden profit last year for the first time since its inception in 2005. The really interesting thing about this company was that they announced that their brokers name had changed from HB (Hoodless Brennan) to Allenby……….A name change!!! Very odd and a matter of public record via Reuters News Service. Oh yes the shares are diluted 3x and their profit was the first in seven years. The original placing price in 2005 was 75p. Todays price is 1.05p
Emprassario Group – Profitable company, share dilution 2x, current price 23p original placing price of 28p in 2009.
Evolve Capital – Well this one will be good! No profits since 2008 inception. Raised capital at discounted rate of 5p in 2010..the price at the time was 1.75p! This company owned a majority shareholding in the infamous Astaire Securities who were heavily fined by the FSA for share misuse regarding one of their clients……WORTHINGTON NICHOLLS PLC…..remember Craig Whytes pension fund fiasco………conclusion of course that all these players Whyte, Imran, Hoodless Brennan and Astaire are all linked… indisputable!
Gem Biofuels – No profits ever since inception, share dilution, placed originally at 12.5p trading today at 1.38p……….hang on stop press Share is SUSPENDED
Global Lock Safety International – Fairly profitable, current share price 4.5p, originally placed at 13p
Ilika – no profits since inception since 2010, current price 38.5p, original placing price of 51p
IPSO Ventures – no profits since inception in 2007, shares diluted 3x, currently trading at 1.55p and originally placed at 85p
Jellybook – 2011 floatation at 10p now trading at 5.08p
LED International – Hugely unprofitable in four out of the last five years. Share dilution 4x. Floated at 10p now trading at 0.295.
Medilink Global – This company was suspended this year for three months for late filing. Current share price at 1.75p, was floated at 18p
Merchant House – Craigiebhoys own company, never made a profit in seven years, share dilution of 10x trading at 0.0425…. Dying any time now.
Mobilityone – marginally profitable, no share dilution, currently trading at 3.50p originally floated at 12.5p
Money Swap – entered AIM in 2011 at 5p now trading at 2.75p
MTI Wireless Edge – profitable Israeli company entered AIM in 2006 at 39p, currently trading at 5.75p
Nasstar – one annual profit in seven years, placing in 2008 at 28p now trading at 11.62p
Niche – total disaster now cancelled on AIM
Noventa – seven years of losses, share dilution 2x, share price on float was 8p, now trading at 3.38p
Palace Capital – share dilution x2 , suspended last year. Placing in 2011 at 2.25p currently trading at 2p.
Proton Power Systems – no profits since inception in 2006, share dilution 30x, float price in 2008 was 80p
Resource Holding Management – profitable company trading at 15p after floatinf in 2008 at 10p………….RESULT!
RTC Group – I did not know that rangerstaxcsae had floated although as you can see anything is possible on AIM! Seriously this company is undiluted and reasonably profitable. It is trading at 14p having floated at 85p
Servision – modestly profitable, shares diluted 3.5x trading at 4.12p having floated in 2006 at 21.37p
SML – Heavy loss in first year, started trading at 5p and now at 4.5p
Tejoori – BVI based company with staggering losses over seven years. Cannot find the float price although this stock was trading at 100p in 2008. Currently 0.50p
The Weather Lottery – no profits in seven years, dilution of 10x, floated at 8p now trading at 0.125p
Tricor – this is a company with a history of boiler room claims against it. Leo Knifton, well known in the art was a director here. The company has a history of suspensions, law suits against directors and has a share dilution of 300x….not a misprint.
Urals – ugely unprofitable company, share dilution of 4x with a float price of 190p and currently at 4.88p with lots of very angry investors
Vane Minerals – no profits in seven years, share dilution of 3x. Floated at 12p now trading at 0.865
XG Technology – There are three companies with similar names here. Floated last year at 0.25$ currently trading at 0.35p
Well there you have it. Welcome to Imrans World………………………a complete semi regulated disaster are full of the same people turning the ordinary punter over almost without exception.
Please Rangers fans ask the right questions based on as much information as you can get. The decision is yours although i do not personally think that your team have a great record here.
Posted by 100bjd