We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Of course if the SP is down markedly in the morning, the Shorts won't be able to get out.
Ok, hands up if you got this right. In all my years of investing I have never seen this. Suspended and then back on with zero explanation. I don’t have much in this but was hoping for a decent rise but this won’t help as the market will have the jitters. The board need to work on their communication skills
'............confirms it has no material new developments to notify' tells us we're not getting an RNS in the morning. But, if a document has been returned for revision, does it tell us an announcement is close to hand? I guess the biggest query with that theory though is , if a document were returned for revision, and the regulators had told them to do that, why wasn't a contra RNS issued earlier than 18+ tonight?
RNS reads simply as, they had an announcement to make on Friday and on Monday they now have no announcement to make. Between submission and things taking effect i would guess they submitted after 3pm Friday for the announcement and have submitted today prior to 3pm to state that they have no announcement to make. Mind boggler until you think about NDA's and the M&A process filled with legal teams!
GLA
HopeSo, i can't think of any other reason. Literally once submitted to the FCA you have to make the announcement, only lawyers could have that changed by contacting the FCA with their reason to not announce what they intended to announce.
If anything, we can be assured that nothing is effecting the execution of the M&A, they would have had to announce that something has changed since March. It's totally bizarre, until you think about the NDA's and legal teams at both sides needing everything to be word perfect for legal reasons. If there's a part which they deemed to be misleading about the deal for example, they would have to pull the announcement and rectify it to the satisfaction of both sides legal teams. I can't see any other reason for what we've all just witnessed over the last 30hrs or so!
GLA
blimey, i just logged on and saw that rns. thats def a strange one, a co suspends pending an announcement, the announcement being theres nothing to announce...
imo.
Mac: If it was an 'announcement wording inaccuracy', The board have either put it right and an announcement is due 'shortly', OR it's gone back to the drawing board for rewording and in it's absence, the regulator is allowing 'normal trading' to resume.
I'm intrigued by their choice of wording. They often RNS referring back to a previous RNS so I'd have been expected something along the lines of "there have been no further material developments since our RNS of ....". This time we get "no material new developments to notify". Why add the word "new" when the more recognised legal term is just "material development".
Even i'm struggling to fathom out what is holding up the execution of the M&A. What this restoration of trading RNS has done however is tell everyone that no sanctions etc are effecting anything, everything is as per the last info drop in March, there has been no material change since that point!
Announcement wording discrepancy is practically the only thing i can logically think of at this stage, only the lawyers governing the M&A wording have the power to make such a move prior to an announcement imho
GLA
Agreed Mac. There is no way they would have suspended with nothing to report.
Something has to have taken place Saint68, you can't suspend with no reason. It's those NDA's that create these situations imho. There's perhaps a news release discrepancy that they need to sort out prior to releasing whatever announcement they had originally intended to announce. The lawyers at both sides will expect things to be word perfect if it is M&A related for example!
GLA
Maybe the potential buyer tried renegotiating due to the Ukraine war but EUA called their bluff and stated it would go it alone. Buyer has since gone back with better or original offer. Hopefully we’ll find out exactly what happened but not holding my breath on that one.
Exactly Lucando, they have to give the reason to the FCA for it to take place in the first place. That reason as logged by RNS was to make an announcement, that's why it is very bizarre. They will have probably put the suspension notice in last Friday for it to become effective on Monday morning also, so, something is clearly going on behind the scenes!
GLA
Missing the shortly times
Can't help but think that they suspended in preparation to announce something then a third party (maybe Blackrock or the mysterious American investor) convinced them otherwise.
This was the announcement.
I imagine there were market shenanigans in the hinterland and attempted major manipulation.
They didn't expect my offer of £200k for the assets. Short negotiation....
But something must have happened as the initial RNS stated an announcement was to be made
Keeps you on your toes hey ;)
I don't think either side of the fence expected that. So, a totally pointless suspension, bizarre!
GLA