Here’s one for our friends over the other side of the pond in dear old Blighty. And it’s one that the regulators of the London Stock Exchange AIM market should take an interest in, because it seems that one of their listed companies is playing fast and loose with insider trading laws.
It so happens that a marketing and promotions company called St Brides Partners Ltd has a marketing gig with a company called Goldplat (GDP.L), a company that produces gold from reprocessing waste from mines in Africa.
And it just so happens that all this week one of the St Brides Partners lackeys, Susie Geliher, has been blasting e-mails to all and sundry in the mining sector over there, trying to set up meetings with instos, brokers and anal ysts because next week Goldplat (GDP.L) reports its quarter. So far so normal, but Susie Geliher is also tipping off the investment square mile that the Goldplat (GDP.L) results are going to be good. Here’s an example of exactly what she’s been writing in her mails:
“They will be in London next week to discuss their soon to be released Interim Results, which
will be going live on Monday morning. The results are really positive and reveal a return to profitability for the Company.”
That’s just an example, plenty more where that came from. And yes, IKN has copies. And yes, she really is that stupid, she wrote that down and sent it to people (plural). Welcome to IKN Susie, we now recommend you look up the phrases “criminal offence” and “securities fraud”. You’re welcome, have a wonderful weekend.
IKN would really like to know why Susie Geliher thinks it’s cool and wise to disseminate non-public material information to market insiders several days before that information is published, when in fact it’s not cool at all, it’s illegal. And IKN would also like to know how Susie got hold of that information, because it’s pretty obvious that Goldplat is leaking its own results to a select few in order that they might profit. Also very very illegal. And wouldn’t you know, GDP.L stock is up over 50% in the last month too….my what a shocker!
AIM regulators, you got teeth or are you as whussy as they say you are?