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The accounts were overdue in Nov 22 for LSE hence shares suspended. After six months of suspension shares can be delisted hence end of April but this doesn’t necessarily happen - see REVB. Companies House had longer deadline for accounts - end Feb 23 and now this has been missed the company will be fined and CH will move for dissolution of the company. Given deadlines for LSE and CH now passed we should be given a proper update on what is happening.
Why ? I thought we still have up to end of April to submit accounts, and if we fail to, then we would delist.
If this was being de-listed we would have known by now…
The naysayers, Filtered from years back.
Same old story, just different boards.
Nothing official as yet..
1-PETERS CAPITAL role is to assist with any new finance and FCA legal process. The current process is, as reported on Feb 3rd positive and moving forward, working with partners and banks, reported 70 days after new appointment of Peter’s Capital. We await final outcome from new investment/ finance process.
2-If process obstacles are all fulfilled, and filing is approved by FCA. Filing is overdue.
We await successful filing.
3-Followed by DKE request for temporary suspension lift and return to Main- market. We await temporary suspension to be lifted.
Simple Market Update on the above 3 is 126 days overdue, albeit Via an official RNS by DKE, the end of the “process outcome” this however has to be very close. Imminent.
I titled the post “From ADVFN"! Though I appreciate you /not everyone may know what that is…
PWhite doesn't seem to know much about finance. She says accounts may come out but that DKE is not agoing concern. In reality the accounts aren't out because it is not a going concern so until fresh funding is obtained the accounts won't be out. Also the share won't necessarily be delisted at end of April.
PWhite as always been very negative over on that board nothing much to say apart from he is anti DKE and his posts are against
Dear Dawn,
Certainly not obvious it was a copy and paste unless you read the article from the ADVFN site.Why copy and paste information you know to be false without a clarification.
If you believe that article reads as a 50/50 chance of DKE survival my patronising needle goes of the dial.
We can agree Chaiwalla offers nothing to the debate.
Yours
Darwen (patronising)
Dear patronising Darwen
I have shares here; I know it’s not an AIM listing
It was clearly a copy from ADVFN
I have copied multiple times from the gazette to counteract chaiwalla’s as yet unfounded claims of the co having already delisted
At the moment none of us know - it’s 50/50 as the ADVFN post was pointing out
We’re not a AIM listing
Was a post from ADFN- Pwhite he copied and pasted for ref
Who is going to be the first person to tell Dawn that DKE is not an AIM listing.
Nobody on this chat board really understands the rules and regulations of timelines and company rules (me included). - there seems always an allowable extension for one reason or another.
As speculators we will find out one day or another if there is a future for DKE.
You might be right DR. But I hope not
I see on LSE chat investors are getting excited about a relationship with MASDAR, well they shouldn't be.
DKE is categorised under Real Estate therefore it cannot move into the energy sector without a prospectus being issued. Furthermore it has not held a GM since July 2021 which is over 18 months ago therefore a GM is due before any prospectus can be issued. They may decide to hold the two together but time is not on there side. A company has to give 21 days notice for a GM.
The shares are due for cancellation on 30/04/23 as a result of being suspended for 6 months. Therefore notice for the GM/prospectus has to go out on or before 09/04/2023.
There is an update on their website dated 03/02/2023 regarding progress on the audit and year end results yet they never released it as an RNS when it was clearly RNS material. I think the reason is that they were simply playing for time to silence the barrage of emails they were receiving from concerned shareholders.
The trouble with the audit/results is that their publication alone will not lift the suspension as the company without a cash injection or a means of raising cash is not a going concern. The FCA will not lift the suspension if the company is insolvent which it is at the moment. Trading whilst insolvent is an offence under Section 214 of the Insolvency Act 1986.
At this juncture in time I am inclined to think they have come to the conclusion it is not worth the financial costs of trying to reinstate the company on the AIM and will therefore allow the suspension to lapse with a due cancellation of the shares on 30/04/2023.
Obviously my views may change on any further announcements from the company.