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These are further articles by the same blogger which have been brought to my attention by business acquaintances – the other two you have removed from Google search already. Each article is riddled with untruths and defamatory content against my company and myself which may have a material impact on my business going forward. As per the below I have outlined yet more misleading and damaging statements. I have since seen other articles relating to this blogger and if he has evidence he always posts it as any financial blogger should. The reason he has not is he has nothing to back up anything of what he has written, it is simply an attack at me as part of a proxy war between him and one of our firm’s clients.
Defamation Claim #1
URLs of Allegedly Defamatory Material:
It’ a sorry tale I tell this afternoon on Sula Iron & Gold (LON: SULA). Sula are a serial failure who over the many years have never attained anything of true value for their share-holders, other than continual dilution and placing after placing. In fact they are little better than a Lifestyle company. I have more gold on my little finger than this lot have ever produced.
Investors need to be aware of exactly how the Board operate and how they continually raise cash and dilute to keep the lights on. Take for instance the recent placing on 10th March 2016. Billed as an existing Institutional/Cornerstone Investor taking yet more stock. We are told in that RNS that the ‘Institution’ also took part in the fundraising in October 2015. How much of the 166,666,664 shares issued in that placing wasn’t disclosed nor indeed was their name. Take a bow Jub Capital. Who in the March 2016 placing took 118,750,000 new ordinary shares at a price of 0.16p per Subscription Share. In addition to 65,312,500 ‘warrants’ were also granted at a price of 0.16p per share. Now fast forward to 24th February 2016 placing. A placing of 181,250,000 new ordinary shares of 0.1p each in the Company at a price of 0.16p per Placing Share. In addition to the Placing Shares, 90,625,000 warrants were also granted to placees at 0.16p per share. How much stock Jub took in the 24th February 2016 placing again isn’t disclosed nor again are they named. What we do know is that they took part.
Institutional Trader NOT Investor
The majority of that stock taken in the above three placing’s has been quietly drip fed into the market and unsuspecting retail investors. And will continue to be sold down. I spoke to the head honcho, ‘Dashing’ Adam Dziubinski, this morning. He confirmed that his company/clients now hold approx.’ 80 million shares. Which begs the question; Just how many shares have they sold into the market? They took part in at least two/three placing’s and have been and continue to quietly off-load Sula shares. You maybe wondering with such a large chunk of Sula why no notifiable RNS has ever been issued. I’ll tell you. The ‘Institutional/Cornerstone Investor’ purchases the stock and splits it into batches under notifiable thresholds for themselves and their ‘Clients’. All quite legal, but extremely disingenuous. This allows them to sell without having to notify via RNS.
Jub Capital are NOT a cornerstone Investor they are trading the stock at each and every opportunity, to make their margins. That isn’t investing it is trading/flipping, below the radar and should be disclosed at the time of their purchases. i.e. they have bought them to trade NOT invest! The playing field needs to be levelled. It is Institutional trading NOT investing and should be declared as such.
In the space of approx. seven months the Sula CEO Nick Warrell has raised ‘in discounted placing’s’ £1,500,000 and if my sources are correct they will place yet again in the not so distant future, probably after the City boyos have sold out their ‘Institutional/Cornerstone holdings’! That placing will again be ‘discounted’. If their share-price stays were it currently rests the placing price will be circa 0.10p.
Fore-warned is fore-armed.