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tick tock - monday may be the last trading day
will there be a sell off?
The Company became an AIM Rule 15 Cash Shell on 5 February and, as such, the Company is required to make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 within six months of 5 February 2019 or be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least GBP6 million) failing which, the Company's Ordinary Shares will then be suspended from trading on AIM pursuant to AIM Rule 40.
In an announcement dated 1 March 2019 the Company incorrectly stated that its shares would be suspended on or before the date falling 6 months from 5 March 2019. This date should have been stated as 5 February 2019.
The suspension of the Company's shares will take effect from 7.30 a.m. on 6 August 2019.
The Board continues to focus on acquisition opportunities which could lead to a reverse takeover under AIM Rule 14.
I asked ABAL to confirm the date and they would not .instead they repeated the RNS dated the 5th of FEb.
I also asked about the website homepage saying no investment opportunities were being pursued and they said they would change the home page to not say that, hopefully that is a good sign.
Eight Capital Partners plc: own (22,61%) of Abal Group shares. Which strongly suggests a successful RTO is very likely.
We still have 5 weeks until suspension, which is plenty of time to finish the RTO.
we have 1 month or money gone down the pan?
Disposal RNS dated 5th FEBRUARY
The Company is categorised by AIM as an AIM Rule 15 cash shell and as such will be required to make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 (including seeking re-admission as an investing company (as defined under the AIM Rules)) on or before the date falling six months from completion of the Disposal or be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least £6 million) failing which, the Company's Ordinary Shares would then be suspended from trading on AIM pursuant to AIM Rule 40.
4 weeks for news that may never happen, someone call the company/directors................................
Sound the alarms...............
Sept 5th. Plenty of time
This has plummeted, any news or finished???
People selling out on losses. Giving away their cheap shares. Someone then loads up.
Feels to me like the million is probably just go to be used as a trough to feed out of while directors sit in a swivel chair with their feet up the wall dreaming up ways to burn through it and pay as much of it into their own bank account before the company is wrapped up. A few bits of pretend due diligence on imaginary crap they've no intention of purchasing will help empty the pot in the direction of their mates too along the way. It all stinks in my opinion and has done since the asset strip.
Do RTOs always go down to the wire? Sadly I get a feeling that this share is slowly dying and I won't see a return on my investment.. in it till the end, as it's not worth cashing in at the current value
I think it matters a fair bit for people to have a decent idea of when this is most likely to be suspended in the absence of any developments. I doubt very many people here would want to be left hanging in suspension.
I was invested here before this became ABAL in the IMTK days. I was left completely disillusioned with this company after the shameless asset strip by Angus Forrest et al. In return for a business shareholders spent months forking out for to finally get to a point where it looked like profitability could be on the horizon they received a poxy million quid. Hardly enough to do anything serious with. I'm surprised people here haven't been hounding the board at every available opportunity after all that.
What does it matter? It's a shell so could be suspended at any time awaiting documentation. If the rns was wrong then it would normally have been corrected. It's only one month anyway.
I would be inclined to contact the company and/or NOMAD to confirm the dates stated.
For peace of mind read the RNS, at the bottom dated 1st March.
September 5th
Deadline 5th Aug or 5th Sept???
The Company became an AIM Rule 15 Cash Shell on 5 February and, as such, the Company is required to make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 (including seeking re-admission as an investing company (as defined under the AIM Rules)) on or before the date falling six months from 5 March 2019.
Very sorry got that wrong, we have until 5th September. Sorry for scaring you and myself :) Shouldn't be long now.
5th February 2019
Imaginatik plc
("Imaginatik" or the "Company")
Completion of disposal of business and assets and change of name
The Board of Imaginatik plc is pleased to announce that the disposal of the Company's trade and assets to Planbox Inc. (the "Disposal"), which was approved by shareholders at the General Meeting held on 28 January 2019, has now completed.
AIM Rule 15 cash shell
The Company is categorised by AIM as an AIM Rule 15 cash shell and as such will be required to make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 (including seeking re-admission as an investing company (as defined under the AIM Rules)) on or before the date falling six months from completion of the Disposal or be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least £6 million) failing which, the Company's Ordinary Shares would then be suspended from trading on AIM pursuant to AIM Rule 40. Admission to trading on AIM would be cancelled six months from the date of suspension should the reason for the suspension not have been rectified. Any failure therefore in completing an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 (including seeking re-admission as an investing company (as defined under the AIM Rules)) will result in the cancellation of the Company's Ordinary Shares from trading on AIM.
This really is nail biting stuff. News must be coming this week.
Does anyone know exactly how long we have to complete the RTO?
Code 1
Fingers crossed for next week. We deserve positive news.