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well, I share the same concerns... I have pretty much CNEL stock,... what worries me most is how the stockholders will react as soon as CNEL would relist... I can imagine some people will keep their shares if the price has gone up, ... but if the share price is not ok it could make that lots of people will dump their shares and get out of CNEL... and I wonder if the CNEL board has thought of this... I can even imagine they just don't mind... If they would like to keep the shareholders on board, they could have given a dividend... now they clearly have no intention to do this, I think they just would like the CNEL stock to bottom asap, so they can buy a crazy amount of shares at bottom prices...
6 weeks on from sending in relisting documentation and nothing. Disgraceful behaviour by everyone involved yet again. I am thinking that hkex are after coming back with something unsavoury and they are fighting it in background. Least company could do is come out and give us some indication of the timeframe.
I wish I could share your optimism Simms, I really do, these people have acted in a way that doesn’t deserve it.
They know exactly what their end game is and have from the get go.
Unfortunately, I have scar tissue from Atlantic coal, where everything seemed to be in place for a nice rise and they pulled the plug on the pi’s and stuck two fingers up.
I call them shysters and chancers as that’s what I really think of these people, any sniff of big cash, and all their morals go out the window.
I really hope that I’m proved wrong?
I am confident we will relist if all questions from. Hkex responded to promptly. If CNEL did not get delisted they might consider somewhere else but bear in mind they spent 2 years and many many millions getting this listing so i do not think they would give that up just like that. If they went private they could buy pis out (they have over $30m in reserves so they would have ample cash to do so but bear in mind they raised $10m from investors as part of listing and these institutions will be more powerful. Of course if they really wanted to they could take private, dilute pis out of existence but i believe that we will get relisted if CNEL are promptly responding to questions. 18 months of a total mess the board could have averted by being transparent and i really hope the bod suffered for their poor management of the situation. We can hope CNEL updates market before returning and to be honourable in their respect for investors.
Bit pessimistic I know, but in the event of the company being delisted where would that leave us? I presume we'd still technically own part of the company, but how would we sell out stake if needed......or would we be out of the picture all together?
I've never been invested in a company that has been suspended before.
What i do not understand is whether this is part of thr delayed contracts as Sunbird is not mentionee anywhere in any recent reports. Are we sure CNeL is developing this? If its one of the big delayed projects that caused revenue fall thats great but i am not so sure. i guess i have frustration that the bod are not sharing any details as how can investors gauge prospects if they do not release some news to say delayed projects now commenced to put investors mind at rest. surely Richard Bennet can comment as he is chairman of sunbird and should detail was CNEL is providing?
Simms, there are plenty of reports that the Sunbird project is live and blending. See... http://www.times.co.zm/?p=118443
We are waiting confirmation of trading but does anyone know the delayed projects and whether these were started in the first half of the year? Is it related to Sunbird Bioenergy that Richard B is also chairman as i cant see anything in the reports that even mentions this company but news on the Sunbird site seems to indicate traction as CNEL first talked about this project in 2014 so its been masively delayed? How big is the project as clearly a good resumption of trading would co-incide with a reversal of revenue and project pipeline. The lack of visibility on contracts is almost criminal and i suspect Hkex is dragging for this and many other reasons as the board will in knowledge of key information that their associates will be able to trade on while pis are simply guessing. We must be close but we need more understanding on prospects and i was led to believe Sunbird was a big project value but given it has not been mentioned for a long-time. Also the vagueness of the board around their Hydrogen storage and so many other things is really not helpings pis get a sense of the future prospects.
I've always remained positive this share would trade again, but I have to admit I am seriously worried now. Even if it does come back I think a lot of us will dump and run given the behaviour of the BOD, but it won't happen straight away because I can't see the share price being worth it in the short term. I don't want to do that, but can any of us trust this BOD to behave in a professional manner? I feel this whole situation has been created to push the small investors out, get the BOD a bigger holding and take it private. How can any business person act like the BOD have and still keep their jobs. Imagine if that was in the UK
What we actually need to know before we trade again on the HKex is whether the delayed contracts have now gone live as they caused the drop in revenue but they were not cancelled, which is a big difference. I am sure the HKex will be asking all the same questions so that insiders at CNEL are not able to gain an advantage over pis when they return to the market. The half year results are also technically due, but probably after the return to the HKex, which makes it even more important that CNEL provide clear and transparent update on contract signings. I also believe CNEL should orchestrate a share buy back and commit as littl as $3m, representing less than 10% of capital reserves, that given the shocking valuation of the company could remove as much as 10-15% of the shares from the market and boost earnings going forward. Realistically they could commit more. It makes a lot of sense but we are dealing with a board who have historically not acted in the shareholders interests and more their own. Again the HKex i hope are going to be tough on the board to stop the shenanigans but ensure CNEL get back to the market in a timely fashion and by the start of September or sooner.
Update from 2 days ago..
"Ivy xu messaged me this morning. Hkex have requested answers to a list of questions. Cnel will have responded to the questions today."
Better updates posted on the FB group... https://www.********************5068712099913039/?ref=share
Agreed. Losing all hope now
Like they don’t already know their own plan….yeah right, absolute disgrace, stringing us all along with no intention of re listing, is that not unlawful?
Anyone holding any hope? Less than a month, heard nothing disgraceful.
time is quickly running out before the delisting deadline. i hope theyve got everything in order and send relisting request. id be worried if they havent done that already. lets get back trading on the HKex
Be nice if they let us know it’s been submitted, still stringing us along.
This was in the last update:
Since all the resumption conditions have been
fulfilled, the Company will submit its
resumption application in early July 2022.
The Company will publish announcement(s)
to update its shareholders of further
development on its resumption application as
and when appropriate.
I don’t recall reading they have submitted documentation to relist. Anyone enlighten me? Thanks
Fingers crossed then
I think it was September sometime. But i also think they have done everything they need to do and submitted their application to re-list so we dont have to worry about the deadline. I might be wrong thoough!
Hello all,
I remember reading lots of posts about when the deadline is to get back on the HKSE, but can't remember the actual date as there were lots of different dates being banded about. Does anyone know when the final day is before we enter the abyss?
Merve
Yep mine are still showing. Personally I think they will relist, but agree the future is unknown. We seem to have a product people want, but with a BOD that we don't. We do need some good news, but given covid originated from China I'm not surprised we've not had a good year. Still I remain positive......until the bad news arrives ha ha
Still in my Interactive account
As others have said the shares still show up in my account also. Can never be certain but im fairly confident this will be back trading... The big question is at what price. To support the sp the Board need to release some positive news before the relist IMO.
Still in my HL account with no price