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So whats the deadline now for the RTO?
Good luck to all in here. I hope it works out!
Julian you are no longer invested here, no one wants to read your sarky comments. Now away and take your face for a sh*t
so scully's 9p prediction has to wait a few months....years more?
The Company became an AIM Rule 15 Cash Shell on 5 February 2019 and, as such, the Company is required to make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 within six months of 5 February 2019 or be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least GBP6 million) failing which, the Company's Ordinary Shares will then be suspended from trading on AIM pursuant to AIM Rule 40.
Accordingly, trading in the Company's shares were suspended from 7.30 a.m. today.
Admission to trading on AIM will be cancelled six months from the date of suspension should the reason for the suspension not have been rectified pursuant to AIM Rule 41.
The Board continues to focus on acquisition opportunities which could lead to a reverse takeover under AIM Rule 14 and is currently in an advanced negotiations with a fintech business which may or may not be successfully concluded. A further update will made in due course at the appropriate time."
That's a good question. Good sign is all major shareholders haven't sold, especially Eight Capital Partners plc, who are looking to RTO a company valued at 75m.
Aim is a bit different Reece - 6 months and off you go completely after the initial 6 months of open play.
They already had 6 months, what have they been doing?
Shares will be suspended for six months and then delisted if a RTO is not completed within the six months period.
Most t/0 take ages and normally suspension ,ok it may go well but normally they are suspended for 12 months or so .
I'd also add that there is now a circa 30% " spike "
How long will the shares be suspended for? Isn’t there a risk they would not relist?
That there is no interest on the board today when, without news, the share is due to be suspended tomorrow morning.
Good on you Connor. Hope you and all holders will be rewarded. Suspension bothers me but am still holding half long term. The BOD are careless and should of corrected their mistake weeks ago. But the end target is still the same, just needs more time to complete the RTO process. Good luck all.
Holding all my shares
I have not sold but have added
GLA
Hi Conor, out of interest did you sell? I held mine no point in selling now
20% spread.
Today is the last day to buy or sell your shares as suspension deadline is 7.30am
Half hour before market open
You will.not be allowed to buy or sell shares
The reason for the increase is because markets are increasing price before
suspension on the basis today and Monday will be the last 2 days to get in
before potential re-listing (have 6 months). Once re-listing occurs we will be
looking at 200-300% minimum in my opinion.
people selling their shares on the cheap are all been bought straightway.
2-2.5p on relist
+250-300% from the current sp
Worth a game
Same script as KIN/ BIDS
Cash here 1.1-1.2p equivalent isn't
Lovely discount to cash
I don't have as much faith in Abal Group now. I sold half and invested in Kibo Energy. Happy to see how this goes but risk has increased.
It's a shambles, anyway suspension August 6th. Will still have six months to complete the RTO.
The AIM really is the wild west. They can do and say whatever they want. I can't believe that they didn't know the suspension date!! how does that happen?
Many bought at 1.20 cannot see many people selling but then you can never tell