Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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I would imagine they have a few potential suitors, their problem is provoking any of them to make action right here right now and commit.
If you were a suitor you would try to leverage your hand by allowing to run as close as possible to the delist deadline in order to drive the best deal with the cash shell.
I imagine it is not much different to the football transfer market where clubs often leave it to the last day(s) of the transfer window to conclude their business. Because within that small window of time, everyone has to show their hand because everyone knows that if they don't then the window of opportunity will be lost, and all parties lose. Under these circumstances, business is much easier to do, because the buyer can trust the seller and vice versa will agree to a deal that reflects the true equilibrium of demand and supply and thus the most accurate/fair value price for what is being sold/bought.
Until then nobody has any incentive other than to keep their cards close their chest, the only circumstance is if a suitor has a particularly urgent requirement to list, so urgent they cannot wait a few months for the delist date to arrive and would be prepared to risk paying a premium to make it happen to their timescales. Seems bould hasn't found this type of suitor otherwise this would have been done and dusted long ago. This is perhaps why nothing has been happening but doesn't mean to say it won't. Big few weeks coming up.
Hi all hope everyone is safe and well, just catching up and reading back on previous posts. Can I take it then that the April 7th deadline could actually extend if a main market listing is sought? Could it be suspended indefinitely in that case.
ATB LB
I agree, they have invested too much time and money in this to just let it slip away
I am still confident of a positive outcome until news from proper channels say otherwise
Yes people have and they get a response along these lines:
"We are making every effort to deliver an RTO before the April deadline"
"The market will be updated via the RNS system" etc..
No extra info. Just "wait and see"
Has anyone tried calling the company, to see what's going on? 020 7469 0930
Yes, a nomad won't be needed for the main market. So if the shares are taken off aim, they remain in limbo until they are placed onto the main market. There isn't any time limit so it takes the pressure off negotiations.
I agree there... we could be de-listed here but fundamentally we'll still be shareholders... then pursuing a listing on the main market we'll remain shareholders. Hoping it doesn't come to that though...
Only issue with de-list is those of us with these in our isas will lose our isas as they become non-qualifying. You can bed and Isa afterwards for whatever subscription you have left or for the full subscription amount if in a new tax year.
On the main market you will also pay stamp on transactions. That's the only advantage aim has over main market is that there's no stamp.
AdrianUK just for my own education mate, and I am trying to picture this. If a company wanted to apply for the main market there is no time limit? and if not they can get onto it without the need of a NOMAD? This is purely for my own knowledge base mate. Thank you in advance.
Worth pointing out, if the shares are to be added onto the main market, a time limit does not apply, like with Abal Group.
There was an RNS, on the 7th October stating shares have been suspended. Which would make the deadline April 7th. Still not long though.