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May be a bit early and presumptuous, but 'Thank You, Cairn' Can see this getting back to previous sp levels very shortly.
Yep ditto at the same prices. Had to put a buy order in for the 0.055 price. New NOMAD gets appointed and news on the elusive £300k and we are off to the races.
Barclays Stockbrokers stopped selling this share many months ago - you can still sell but not buy. I spoke to them and was told they had made a policy decision. I've bought through LSE - easy to set up and cheap (ish) to trade
Got some more @ 0.068p and just now, via the phone, @ 0.055p - you get one hell of a lot of shares for not much at those prices - GL
abovwe bid but can't buy a bean. HHmm
on MM's dont drop the ask and then shut up shop. What the point of that?
Yep, complete fluke that I sold the other day, Wish i was that lucky on the lottery!!!
Lol - you lucky boy Smudge - I think you need to get a lottery ticket this week !
Have bought back the shares that I sold the other day.
The broker is resigning on 1 MAY 2015 (for whatever reason) with the 30 days to find one on top - they are not panic bailing. The company are already in discussions with a replacement to takeover brokerage.
I agree that the RNS is not quite as bad as it looks at first sight. I am holding, and possibly topping up, but I do find it totally implausible that Cairn have only now discovered that the company is too small to deal with. Presumably no skeletons have been uncovered in the Due Diligence, or they would have resigned immediately. Ivan Couchman has a good record of turning round companies but his premature announcement of income before it was in the bank may show that he is not on top if this particular sector. I hope not - interesting times for INC
If there was no issue then a new NOMAD would have been appointed at the same time as the resignation. Open your eyes. Cairn obviously don't like what they see so have quit. They'll be contractually obligated to serve one month. This is an absolute shocker. The lack of updates from the co speaks for itself.
Tbh it's absolutely pointless selling at these levels would be absolutely pointless anyway. You might as well have mug written on your forehead especially if you (like me) brought around 0.1p. There was no official "duster" in this case that would be a failed contact negotiation. It's more the uncertainty and the mms are playing on it. I'm still here and will look at averaging down when funds allow. Great prices now if it works out with the Canadian partners.
Knic - let them sell - we can start sweeping up the shares lol :)
The Company advises that Cairn Financial Advisers LLP ("Cairn"), the Company's Nominated Adviser and Broker, has resigned with effect from 1 May 2015 and has 30 days to top of this to find a replacement however the Company is already in discussion with another Nominated Adviser to keep the company running smoothly.
Yes I agree knicol46. If there is a problem a broker resigns immediately, and then there is 4 weeks to get a replacement. However, if things are OK and the broker wants to leave for another reason it gives a much longer period of time to allow a transition - in this case, they are not resigning for another month, and then there is a month on top of that to find a replacement. I don't see an issue here, the behaviour pattern isn't that of a broker with an issue with the company. If there was any issue then they'd resign effective immediately, which they haven't. There will be a flurry of panic selling though, perfect time to pick up a few more from scared idiots :)
Cairn have just discovered that INC is too small ! Hard excuse to swallow.
They usually resign with immediate effect and the company has 30 days to supply a new one. However Cairn Financial Advisers are resigning on 1 May with the 30 days extension on top. I'm sure everything is fine.
And picking up the ill informed sellers shares! Lol
Oh so word not from brokers ? But from Ivan ? What to do ? . . .
Nm
I've just tried to call them twice and no reply just ringing & ringing. Who did you speak to ?
That's funny new state - did call them and no answer ...
Cairn said they were too big for us and wanted us to be introduced to another firm connected to cairn who deal with smaller companies they INC. If unsure ring the company or cairn they will confirm this
You're a gentleman and a scholar - thanks. No doubt there will be a bit of a panic at 8 am but should soon recover - not sure if minutes, hours or days though.