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Ac123, You are right; the term ‘confident’ has not been used so far. Unfortunately, it still isn’t a definitive commitment. I don’t have much faith in the Board of Directors, but I’m trying to see it as something positive. From now on, the information should be made directly available on the homepage or another social media platform. I only know that the remaining employees don’t really know any more than we do.
This is becoming bizarre.
IWant, you're correct in saying that the LSE is not being consistent. There is more information in your link than was posted on the RNS which I read this morning.
Moreover, the Company says is it now 'confident' of receiving the first tranche, a word I do not recall being used in earlier RNS's (e.g. 03 May).
However, as we as shareholders no longer have a material interest, what good is it if the Company does keep us 'abreast of developments'?
Any thoughts?
The non- distribution of the information seems to be a problem by LSE. See here:
https://www.londonstockexchange.com/news-article/market-news/cancellation-of-admission-to-trading-on-aim/16461054
Yes
Does this mean the company is still alive?
Thank you for posting I see this was released at 0700 and surprised it was not on the AVO website also.
If the company does secure the funding transaction then delisting from AIM is not a bad at all. I cannot understand now why AIM took so long to delist some 11 months after suspension!
But nothing on AVO's homepage about it.
Here is the answer
https://www.sharesmagazine.co.uk/news/market/LSE20240509070009_5175051/cancellation-of-admission-to-trading-on-aim
This link maybe worth reading as AVO would possibly fit this scenario. What ever the outcome a further news release has to be made until such time the company is declared insolvent or ceases trade. In the event financial negotiations are near conclusion the petition to wind up on 15th May 2024 could be opposed.
https://www.hilldickinson.com/insights/articles/delisting-option-and-opportunity-some
Anybody around there on 15th of May to join this "event?
Petitions to Wind Up (Companies)
In the High Court of Justice
No CR-2024-001904 of 2024
In the Matter of ADVANCED ONCOTHERAPY PLC
(Company Number 05564418)
and in the Matter of the Insolvency Act 1986
A Petition to wind up the above-named company of Advanced Oncotherapy PLC (Company Number 05564418) of 143 Harley Street, Ground Floor, London, England, W1G 6BH whose nature of business is other human health activities, presented on 28 March 2024 by SOFTCAT PLC, Solar House, Fieldhouse Lane, Marlow, Buckinghamshire, United Kingdom, SL7 1LW claiming to be a creditor of the Company, will be heard at The Business and Property Courts of England and Wales, The Rolls Building, 7 Rolls Buildings, Fetter Lane, London, EC4A 1NL on 15 May 2024 at 10:30 (or as soon thereafter as the Petition can be heard).
Any person intending to appear on the hearing of the Petition (whether to support or oppose it) must give notice of intention to do so to the Petitioner or to their Solicitor in accordance with Rule 7.14 by 16:00 hours on 14 May 2024.
The Petitioner's Legal Representative is Paul Abdey, Brachers LLP, Somerfield House, 59 London Road, Maidstone, Kent, ME16 8JH Telephone: 01622 690691, Email: paulabdey@brachers.co.uk (Reference number: 300/STA6120.7789)
The important aspect regarding this rule 41 announcement concerns a change made by the LSE I believe in 2015 which states:
Guidance on Rule 41 - the LSE is also proposing to amend this guidance to make it clear that the LSE may agree that shareholder consent is not needed to cancel the trading of AIM securities where the company maintains or will be admitted to trading in an EU regulated market or an AIM Designated Market. This replaces the current reference to "comparable dealing facilities"
Can anyone else comment on this, as of now the company has not been declared insolvent or ceased trading.
People always say you've got to be in it to win it, on aim you've got to be in it to lose it 🤪
Like the death of an aged relative, long expected though, when it happens, a shock nevertheless.
I sincerely hope no one here has lost more than they can afford to lose.
Good luck in your other investing activities, and best wishes to all on this board.
Probably to embarrassed, hey ho another nail in the Aim coffin.
And no statement from the chairman?
The technology will continue to serve successful and make good stride for others, as for us unfortunately we lost it all....
Another Aim company to join long least of doggy management.
GLA elsewhere.
As feared, such a shame for the technology but a bunch of useless managers!
This is a new one for me as under Rule 41 notice has normally to be given and 75% of shareholders approve, unless I read the following:
It should be noted that there are circumstances where the Exchange may agree that shareholder consent is not required for the cancellation of admission of a company’s shares, for example (i) where comparable dealing facilities on an EU regulated market or AIM designated market are put in place to enable shareholders to trade their AIM securities in the future or (ii) where, pursuant to a takeover which has become wholly unconditional, an offeror has received valid acceptances in excess of 75% of each class of AIM securities. The company’s Nominated Adviser will liaise with the Exchange to secure a dispensation if relevant.
There must be more news to come. Not sure how this would impact SIPP and ISA holdings but hopefully a new listing / takeover. Could this be a Nasdaq listing?
This board will stay open, it has on many other shares that have delisted. Not sure what there is to talk about though it's over. Gla.
Has anybody a X account or similar to continue the discussion in case that this chat will be closed too?
They are losing enough companies off Aim without kicking them off.
"Regulator is a joke". Second that.
Interesting set of articles by Charles Archer on why AIM is broken, and possible solution.
I use Ballox's convention ...
bubbleyou.bubbleyou.bubbleyou.share-talk.com/aim-market-reforms-heres-15-ideas-by-charles-archer/
Not neccessarily 7 working days to present a solution, the petition could be contested based on the same fundraising negotiation position as we preseume ADAM made in Geneva.
Winnifrith is a joke IMO, the main problem with AVO is that they didn't move from AIM a long time ago, it is not performing well for many companies in the UK market and is somewhat dysfunctional IMO.
When the company achieved 230 Mev if they had been a Nasdaq company the share price would have rocketed. Then we had the issue of Odey the largest shareholder at the time with 11% having to raise funds urgently and having to shutdown due to sexual misconduct. While I agree the company could have better funded themselves and prepared for such eventualities, Odey was a major factor out of the control of the company and collapsed the share price as a result.
As investors will know the technology is a revolutionary change in Proton therapy and should AVO survive they will be a major disrupter in the market. Having invested well over £200 million and all those with knowledge of LIGHT and the fact the company was progressing well with certification of a completed LINAC sysytem I sincerely hope they can conclude the financing arrangements. The fact that this has come this far is perhaps hopeful and also the fact that ALL other major shareholders and the board never sold any shares at all speaks to the confidence they had.
Winnifrith on his website makes a fair point, why has this share not been thrown of AIM?
Regulator is a joke
Deal or No Deal, 7 working days to present a solution!