Risk will always be a lottery
Chariot (UK), an online charity lottery company, has failed. This is bad for its investors but should not be seen as a blot on Aim's reputation. Risk comes with the territory, something that investors must accept.
Chariot (UK), an online charity lottery company, has failed. This is bad for its investors but should not be seen as a blot on Aim's reputation. Risk comes with the territory, something that investors must accept.
Chariot finally admitted defeat last week when it sold Monday, its charity lottery, and its database of 280,000 players to NetPlay TV, an Aim-quoted mobile gaming company, for £100,000 net. Chariot couldn't cope with the losses and wouldn't have survived without the disposal. This at least enables Chariot to become a shell, though investors who paid 115p a share in February 2006 are unlikely to claw back much of their investment, even if a suitable acquisition is found.
Such a rapid demise has made Chariot a convenient stick with which to beat Aim. It was an unusually risky business because it was a start-up; and individual Aim company failures are to be expected.
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