Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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A previously de-listed company I had, stated that the cost of AIM listing was £250k pa. I don't know if this the same here but it puts the long-awaited £300k in perspective. I think this board disappears at close of play today.
The company has cash so it shouldn't cancel shares. If anything the delisting reduces the ongoing costs of the business. It is still awaiting the 300k and whilst there is a chance of this being received I can't see them liquidating. Most likely scenario is the company buys itself a few more months for the receipt of monies. If they come in the business has cashflow and is viable, if not it is then liquidated. Delisting is bad for shareholders in the short term but may give the business a better chance in the long term.
A fine point, but technically the shares still exist but they can no longer be traded on AIM. This is my fourth de-listing! 1) Lost everything 2) Company still trading but shares effectively no value and can't trade 3) Company offered to buy shares so got something back I think this company will be liquidated so a total loss but you never know.
not brilliant but not quite ready to lie down. Expect some feedback on their website in the next few days as no longer be able to release RNS. he's happy to speak to SH
Thanks, but where does it get published? There is nothing on Investegate.
The reason there's no RNS here is that cancellation RNS is issued by AIM and not by INC, so it doesn't get added to the INC feed. But yes, the correct cancellation RNS did appear at 7am, just not where you expect.
Management just away on holiday to start their next venture RNS Number : 3868N AIM 18 May 2015 NOTICE 18/05/2015 7:00am NOTICE OF CANCELLATION OF ADMISSION TO TRADING ON AIM INSETCO PLC Trading on AIM for the under-mentioned securities has been cancelled from 18/05/2015 7:00am pursuant to AIM Rule 1.
I'm not holding out false hope! Just stating that it's still not showing here - not for the first time
The rns was not late - it came out at 7am
Hi all, I no longer hold as got out not long after TW got his claws into this stock, but just wanna say I'm really feeling for you and I'm really disappointed that there was no RNS at 7am to clarify the position, even if it simply said thart a NOMAD hadn't been found. Long term sufferers now have to assume that the shares have been cancelled by default but something of this nature should have been formally clarified on the deadline itself. (7am today). It was the poor communication that made me quit this share as well as the suspicious dealing and the ridiculous amount of time it was taking to simply get 300k through the door. I really hope you can all recover from this dog of a share. Best wishes. SMS.
States AIM shares cancelled I'm afraid.
RNS often show late on here - they must have dealt the final blow by now.
Tom Winnifrith has a lot of questions to answer to, ramped this, sold out and then dropped his bombshells. Not good from the sheriff of AIM, two faded **** more like.
Anyone planning on attending the a AGM?
musiclondon, even I know when positivity is overdone. I've given up the ghost with this, completely. Move on.
the financial position or management gave prospective advisers worries I fear. If it doesn't go bust we may get something back in the future.
been doing over the month? Fri 6pm.. 'If the company does not appoint a NOMAD by 7am on Monday 18th May the company's AIM Securities will be cancelled with immediate effect. If this is the situation on Monday Insetco will review what options are available including considering approaching junior markets like ISDX & GXG as an alternative to AIM.' We should all pop round to Ivans house for a Q&A session.
Couldn't agree more they need to answer a lot of questions
The company will be kicked off AIM on Monday. They tried 4 NOMADS and not one would take them on. I lot of questions need to be answered from Ivan and Barry to why they have cost shareholders all their money. Pretty sickening
Yup me too. Live and learn.
I think you are probably right okenia, which obviously means everybody who invested here were also taken for fools, which it appears I was one of them. No point in pretending. Personally I find it shameful & embarrassing that I was sucked in. I can accept a company going bust but this is schoolboy error stuff by the looks of it. Hope we are wrong but it appears worrisome to say the least. I'd love to see the paper trail for all those placings.
To be fair, I think Ivan was conned
I think the fact that the non-exec on the Board resigns with immediate effect on the day the annual results are released tells you everything you need to know. How a loss-making company with no clear plans to dig themselves out of this hole managed to get the auditors to sign off as "going concern" escapes me. They should hang their heads in shame. I bailed at a loss a while ago which appears to have been the correct thing to do. Come Monday I can't see this not being kicked off AIM.
I bet this $300k never existed
Disaster number 2 for me. Take rough with smooth, learn & move on. I invested after the agreement for services rns. I agree though, alarm bells were ringing at the share prophets vid, he didn't appear to know the business. It begs the question, what has all the placement money being used for ? That's what I would like to know. Shocking.