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Berkeley Mineral Resources Share Chat (BMR)



Share Price: 1.075Bid: 1.05Ask: 1.15Change: 0.00 (0.00%)No Movement on Berkeley Min.
Spread: 0.10Spread as %: 9.52%Open: 1.075High: 0.00Low: 0.00Yesterday’s Close: 1.075


Share Discussion for Berkeley Min. (BMR)


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Shwmae
Posts: 824
Off Topic
Opinion:No Opinion
Price:1.08
No Worries
Wed 22:19
Yes delisting has been a concern for a few although I cant see it coming to that. I think most are feeling a little resigned here at the minute considering the length of time resolving the accountancy discrepancy is all taking on top of the considerable waiting endured in the past.

I think AB is will be very aware of the need to update shareholders considering stating timelines that have clearly been missed. I hear some say "oh just another MA" but I think not. Despite the missed deadline for release of accounts, I firmly believe AB is working in our interests. Yes, that may be a gut instinct of mine as I have no evidence to prove otherwise, but as I have said before there is probably a good reason for the news delay, which to me signifies good news in the offing. Humble pie shall be eaten if wrong...lol. Imo, I think news is very close indeed. Give the guy a chance, turning round MA's mess is hardly a walk in the park, particularly with reduced staff and resources at his disposal. Let's see how things unfold over coming days. All the best
 
3cardbrag
Posts: 688
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Price:1.08
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De-listing
Wed 16:29
Forgive my ignorance but what is the real issue if a company de-lists? To use an analogy, is it like being relegated from League Div 1 to Div 2 or do we completely drop out the market? Obviously the company still exists and has assets which it can use to make money, so presumably the only drawbacks are that the shares are more difficult to trade and to value and for obtaining future investment/ borrowing. Personally I don't see lack of institutional interest as an issue as they're not currently falling over each other to invest in BMR, or at least they weren't pre-suspension. Anyone any thoughts?
KlueLoss
Posts: 1,186
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Price:1.08
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RE: 6 months to delist or not?
Wed 16:24
I don't think anyone knows any facts about BMR which for me at least is very disconcerting.

It is standard practice on AIM for any stocks to only be allowed 6 months under suspension.

If BMR do go past 04/05/2015 without reporting accounts and relisting they will delist. Unless BMR are granted extra time under 'Extraordinary Circumstances' but I do feel that having read the rules it would be subject to an RNS stating such information in the change of allowed time.

Extraordinary Circumstances are something that are possibly open to interpretation so who knows whether BMR can apply for extra time or if they will.
woodpecker760
Posts: 201
Observation
Opinion:No Opinion
Price:1.08
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RE: 6 months to delist or not?
Wed 16:05
So at least it is not black and white and people can stop panicking about this particular deadline. Seems like the first person you spoke to at AIM was a little too eager to be the bearer of bad news. I suggest he does not know the facts regarding BMR. Neither do we for that matter. A little more patience however unpalatable is probably the best course of action for now.

Regards
KlueLoss
Posts: 1,186
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6 months to delist or not?
Wed 15:47
This shoudo hopefully merely be an excess ishe in futility and the accounts can be published and the market can decide whether to stay or go.

The regulators will not comment either way on specific companies. I have spoken to 2 different people at AIM regulations the first explicitly stated that all companies are allowed only 6 months before being automatically delisted whether that suspension is voluntary or involuntary.

Only given 'Extraordinary Circumstances' can a company request more time. I do not know what classes as an extraordinary circumstance if I'm honest. The director doing a runner to Brazil example I suppose falls into the same category as MA falling ill when it came to crunch time.

The second person I spoke with just said that I should contact the company NOMAD and/or the company for clarification. Also when I asked if extensions were subject to an RNS I was told to go and read the AIM rules in particular Number 10 and 11.

Contact with NOMAD or company on this matter will also provide no definitive answer.
Barno
Posts: 95
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Price:1.08
laffer
Wed 15:13
has been banned for a week. You know where to find him
woodpecker760
Posts: 201
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Price:1.08
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RE: The six month Lie
Wed 14:49
Now if it were the case, wouldn't the email reply simply have stated that BMR have six months to relist or face delisting from AIM.

Just my thoughts
woodpecker760
Posts: 201
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Price:1.08
View Thread (2)
The six month Lie
Wed 14:46
I have just received a reply from AIM which suggests there is nothing automatic about delisting after six months. Whilst they have not confirmed BMR will or will not delist at six months, there is enough in what they do not say to suggest that the info I have been given suggesting BMR have and will take longer that the statutory six months to relist. Make of it what you will but I am posting here exactly as I received on my email. From what I have gathered Alex is doing all in his power to have something positive to release along with the accounts and is determined not to just allow this to tank as would happen if no other news were forthcoming. I am still inclined to give him the time to get on a do just that. Perhaps we will get an update this week, but nontheless I believe we still have time

Good morning. I am a berkeley mineral resources shareholder. The shares are currently in voluntary suspension. Usually this would mean bmr have six months from voluntary suspension to relist or face delisting. In bmr's case there seems to be extraordinary circumstances. I.e the former chairman had been diagnosed with alzeimer's disease. How could I get reassurance that bmr may have special dispensation that due to extra ordinary circumstances an extension would be granted if necessary?

Regards
xxxx

Dear Mr xxxx

Thank you for your email.

As you may be aware, AIM Regulation is the department within London Stock Exchange that is responsible for the regulation of AIM and provides guidance to nominated advisers and AIM companies on the AIM Rules for Companies and AIM Rules for Nominated Advisers.

We understand shareholder concerns surrounding the Company's notified suspension. However, you will appreciate that we are unable to comment on company specific matters.

Kind regards

AIM Regulation
gummibear1964
Posts: 51
Off Topic
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Price:1.08
Delisting
Wed 14:44
From exprince Bmr will need to unsuspend within 6 months of they will be automatically delisted and will need to spply again MA wad a exprinced game player IMHO using the company as his personal Toy and cash cow
harlequin
Posts: 4,452
Observation
Opinion:No Opinion
Price:1.08
Laffer
Wed 13:31
Much as I admire your intentions NCK is right we must let AB do his job. Also remember AB has to get share holders support for any major policy he needs to put through,





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