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Belstaff it sounds like you're a bit overcommitted, none of us should be investing cash that is needed to support day to day life for us and our families. If that's the case there's nothing that can be done now, but I don't think what you're saying about the BoD is needed; if you're that concerned you can get in touch with the company to ask some questions.
I would add that when we went through our acquisition all staff members involved had to sign NDAs, so there's always an element of secrecy about these things for a number of reasons
You were warned....you blue and luc.
new - I would rather give my money to charity than lose it here. Everyone is missing the point. The BOD have a duty to tell us what is going on. Everyone here will be furious if the ends up at zero. Even the optimists.
I called the company yesterday and got told that they were unable to say anything but we’re looking for a positive outcome (not their exact words but close enough for reporting purposes). GLA
Quite sure the BOD are acutely aware of some shareholder anxiety, however the pot of palladium on the horizon will more than mitigate their strategy. Full steam ahead.
Crabby - all we are asking is an update. Some of us have tens of thousands invested here for goodness sake.
There have been a number of companies that are suspended and never come back. Have a relatively small investment here compared to many and would like to see a decent offer on the table for our assets but tbh I've written off my money. No transparency from the BoD here which rings alarm bells. gla, lets hope it works out....
Joblot - I emailed again this morning asking for details of times and personnel presenting at PDAC later today. So far no reply.
But what did I expect, they are working terribly hard for all of us and do not have 2 minutes to either update their website, reply to share holders or issue some news. Bless, how dare we question what the BOD are doing. After all they hold the keys to our money that we have all worked bloody hard to achieve.
Remember around 20% of shares belong to the BoD so what’s good for the goose is good for the gander. I’m sure they want a positive outcome as much as we do
No. Have you?
Matt, the arrogance the BOD are showing is beginning to grate.
I'm generally positive, I think it is a deal, and I still think March we will hear something. Mining season imminent and all that. Maybe they are going for market wow factor 'the big reveal' with the deal who knows. Maybe they thought it would take 2 weeks to announce, then they are still ironing out details or waiting for the permit and it has slipped a bit.
I'm very positive, I think we're onto a winner, I'm just not sure why they can't be a tad more transparent, is all.
Has anyone tried calling their office number?
That would do it for me at least it would give people something to talk about for the rest of the month. Right now its all looking a bit tired and i have detected a certain amount of despondency creeping in
Totally agree Belstaff. The longer this goes on the more concerned I am. I believe they owe us an update on the suspension now. To have 153k tied up and unusable and untradeable is not acceptable.
Quite frankly, I think it is disgusting.
They were quick enough to pull the rug from under our feet three weeks ago, due to social media speculation, the very least they could do is stop us worrying. We have families to support.
a simple RNS along the lines of:
"The company acknowledges the social media speculation surrounding the company's suspension. We would like to advise the market that we are currently in discussion of a possible sale of some or all of the assets. The shares will remained suspended from trading on AIM, until such time these discussions have concluded."
I've been wondering if an announcement is coming soon(ish) by which I mean March, and they feel no need to announce that they are working on a deal when they are close to announcing the terms of the deal itself.
That's my (positive!) line of thinking anyway.
wasarunner - I can see no reason why the company cannot tell the market this. It is beginning to look worrying.
lebear agree completely on the need to be relaxed about the timescale, what puzzles me a little is why the company can't come out and say a deal is being worked on? I am not sure if they are prevented from so doing by regulatory framework (for example, if they say a deal is being worked on, they have to say who the buyer(s) are and what they are offering etc.).
I think from a market perspective everything would be a lot calmer around EUA if the news was out that specifically a deal was being considered (rather than the slightly cryptic message that they are clarifying their relationship with Citic).
Just my 2 pence but I haven't seen this situation before so I don't know the pros and cons of why they can't state basically that they are considering a deal.
probably the most sensible post ever. thank you lebear!
You wouldn’t suspend for 5 months due to a deal being ‘worked on’
We didn’t suspend when Lesego did DD
Morning all, long time observer (and investor) but never posted on this one, thought I would give my perspective on the suspension timelines on the assumption that a deal is being brokered. The company I work for now was acquired by a NYSE listed firm from our private equity owners, it was a pretty sizeable deal (more than millions) and there was a lot of dancing and courtship going on before more formal positions were taken. From commencement of negotiations and the due diligence activity it took about 4/5 months before the deal was announced, now ours is quite a complex company and I imagine there's much more to go through then a company like Eurasia, but it will still take time.
There are many things we don't know such as whether there is a deal in the offing at all, but let's assume there is, we still don't know how many suitors there are, when negotiations started, what is entailed and when they may conclude. So if there is a deal to be announced it could today, tomorrow or 3 months time. We just have to be patient
Good luck everyone and happy holding