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PLUS REVIEW
PLUS Review
PLUS Markets chief Simon Brickles says London Stock Exchange rules on AIM
companies moving to PLUS are a “restrictive practice”, reports Leslie Copeland
E
ncouraged by shareholders in nuclear £11 million of assets into it,
December’s 112 per generator British Energy and Davidson spoke of
cent PLUS trading in the bid from the French creating “the biggest
volume increase to 439,603 utility. According to Brickles, conglomerate in Britain”. Of
bargains, Simon Brickles financial heavyweights late, however, despite
says many AIM-quoted Merrill Lynch, BNP Paribas encouraging progress on the
companies are talking about and JP Morgan Cazenove technical front, disharmony
moving to the PLUS-quoted are joining PLUS-quoted has descended.
share trading platform, partly as market makers in the There has been
on cost grounds. But Stock notes, which offer returns speculation about a role
Exchange rules oblige them in line with the wholesale in fundraising and
first to go through the power market.
Leslie Copeland, investment
development for Australian
process of holding a
specialist, M&A Magazine
entrepreneur Philip
shareholders’ meeting to FLUID LEADER Cook, former chairman
approve such a step. CAUSES CONCERN of the off-licence group
“We see that as another Pipeline innovation play Unwins, which called in
instance of LSE restrictive Fluid Leader is disconcerting administrators four years
practices,” declares Brickles. its backers, who have seen ago. Martin Boulton of
“The LSE is scared stiff shares in the PLUS-quoted
“PLUS is mounting
the Omagis investment
of competition.” company, founded by Paul group has left Atlantic
PLUS, which claims a “The Plumber” Davidson,
a legal challenge
Law and joined the Fluid
majority of retail trades in plunge from 44.5p to 9.5p to AIM rules that Leader board.
more than 700 quoted over the past year. The
require prior
companies on its PLUS-traded company has “removed”
consent from any
ATI ASKS FOR CASH
and PLUS-listed platforms, is Davidson from the board, lost Investors with strong nerves
already mounting a legal its former corporate adviser,
AIM-quoted
and patience might want to
challenge to AIM rules that Atlantic Law, and has yet to company whose take a look at ATI Oil, which
require prior consent from any fulfil its early promise.
shares PLUS
has several potentially
AIM-quoted company whose Fluid Leader originally
wishes to trade”
exciting prospects on and
shares PLUS wishes to trade. caught the imagination of offshore Italy and in the
investors with technology Adriatic, thanks to timely
NUCLEAR pioneered by Davidson (a applications by key
AMBITIONS technical expert and successful shareholder Barry Lonsdale.
Away from these legal City controversialist) to The company, which is
shenanigans, Brickles connect sections of oil and actually an off-shoot of
recently announced that other large pipes in a newly Northern Petroleum, wants to
PLUS-quoted is to trade strong and flexible way. The raise funds to develop some of
Nuclear Power Notes from company won support from these, but a depressed 11p
Électricité de France on an Sheikh Faisal Al Qassimi of share price (against a peak of
exclusive basis. the ruling family of Sharjah in 30p) means it may have to
The notes are issued as the United Arab Emirates, consider trading assets or farm
an alternative payment to who injected some in another company. ■
12 Mergers & Acquisitions
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