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LittleBert - Mon, 29 Dec 03 :

My interest in this case is as follows:
Last year, OMH saw it's share price tumble due to continuous 'end of day' block selling of shares, from 13p down to sub 5p, despite all news releases being positive. As it turned out, the board had asked the house broker (guess who?) to broker a rights issue...... the final price of the issue was only 2p..... and the company was diluted by almost 100%; it was never disclosed who the shares were 'placed' with by the house broker, except that they took 60 million themselves, and placed another 190+ million with 'institutional investors', easily enough to cover the shortfall in trades over the period concerned. If those on the case care to do some more digging, I seem to remember suggestion of third party collusion during the placing by a firm rhyming with 'Skite Securities' - Good hunting.....


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