Nothing rose tinted about this situation. Just wish some would stop coming to their own conclusions when what is actually happening might be completely different. Just wait for news then if negative, you can slate this as much as you want ffs.
Have a look at what happened to MTA Matra Petroleum when they delisted.
On 23 April 2014 Matra Petroleum Plc, the oil & gas focused Investing Company, announced that the resolution to approve the cancellation of the admission of the Company’s ordinary shares to trading on AIM was duly passed. As previously announced, the Company has set up an off market trading facility, to be available from the delisting date, administered by JP Jenkins (‘‘JPJ’’) who will, where possible, match trades in the ordinary shares between willing buyers and willing sellers, acting as a central point for negotiation between UK stockbrokers. JPJ states that it is the oldest and largest exchange platform for unlisted companies.
there still be posters on here with their rose tinted on, I don't understand why people can sit happily doing nothing and call for patience as the deadline approaches for de listing. Does anybody in their right mind really think that a CEO leaving a company for whatever reason is extra ordinary circumstances, they come and go all the time. The more despicable of them often go with alzheimers.
I also don't get why posters on here think it wont happen to the mighty BMR, It will if we reach the 5th of May with no action we will be de listed end of.
The company has changed little all we require is an update which was always the biggest criticism previous to AB's arrival and still we wait the DFS being the perfect example.
If we are de listed yes you will still have your shares but they may as well be worthless as you will find it very difficult to find a buyer or even an accurate value of their worth.
I would like to think he (AB) has our interest at heart having managed to secure some compensation from MA but as the deadline approaches with yet more missed timelines I find myself becoming more worried by he day that this is going to go the way it appeared to be going when we were first suspended.
I would like to be proven wrong sooner rather than later, but as usual the total lack of regard for this companies shareholders does not fill me with confidence that they do indeed have our best interests at heart. Surely they must be aware of the sentiment of holders at this present time and the need for an update.
If I still had my rose tinted glasses I may be inclined to think that something was in the offing, Having said that I haven't seen them since October and IMHO I think its far more likely that AB is well aware this will tank without positive news and he simply has none or he would have put it out already and that for me is the reason why we have had no news. I think he will take us as close to the deadline as he can if he is genuine in pursuit of something positive to resume with otherwise we are off to tank town.
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
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?
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.
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.
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