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Does anyone know what is going to happen now Can london stock exchange force Finablr to relist allowing we shareholders to sell our Shares?
This is how I see it. I'm not an expert but I am a shareholder.
1. It's obvious the new owners want to de list.
2.FCA said no. (Good for shareholders)
3.Finablr plc can and may appeal (I'm reading around that not many appeals succeed)if it's successful, they will delist.
4.FCA said finablr can only delist if the get the ok from shareholders ( I think many shareholders would not vote to delist)
5.if anyone familiar with company law reading this please let us know if we are missing anything here. I still have some hope ....
Final piece I don't understand is. What does the stock exchange expect of finablr plc ? Are there time limits , will they force finablr to unsuspend the stock trading. From finablr point of view is it likely they issue me stock under wizz financial umbrella, the company and business has changed hugely since finablr were bought out (for one dollar) If anyone reading this knows please advise
Spoke to my stockbroker Hl today about it as my fin shares with them
They were absolutely clueless about, and they are supsed to be the experts
Cannot speak to London stock exchange about it if anyone can ask them to verify what happens next?
- it’s end of the road for us- this is the way I read this:
1) it’s clear that new investors want to delist - only then would the change of ownership happen.
2) now since it has been rejected there are only two options left - the board ex owners should agree under a special board resolution to delist- which I think they won’t(else they could do this long time back)- if that does not happen then the only option left is to put it under administration.
New management:
Please resist FIN so I can sell my shares and bid you farewell.
It’s been suspended for far too long!
Get your fingers out of your ass and sort this out!
New management:
Please relist FIN so I can sell my shares and bid you farewell.
It’s been suspended for far too long!
Get your fingers out of your ass and sort this out!
I do not know, but I have emailed London Stock Exchange for further clarification on latest information, and they have promised to get back to me this week
Relist at a quid would be nice.
That would be great for me having bought mine for 6p. I would make 17 times my holding in profit
They certainly were telling a pack of lies last year indomie
Yes it was a bunch of lies, I guess the investor does not have money to take on liabilities, so they are just dragging this on perpetually.
Cannot get hold of london stock exchange for latest information on Fin
Well Bowlers12, as soon as they reply, let us know. There is no point *****ing on this forum, what we need are facts, information and details, wherever we can get them. If there is a shareholder vote I encourage anyone to keep an eye out for your proxy form, email , postal ballot, or however they do it. Check junk folders etc, and vote !!!
The fca replied to my request for information but stated they had no more information that they say Fin acted illegally suspending their shares without shareholder permission
Hi, thanks for that. Can you verify exactly what the FCA said. Suspension and delisting are two different things. My understanding is Finablr plc recently applied to delist but that was rejected. The suspension happened years ago, but that occured due to fraud issues and potential inability to show valid accounts . Was it the FCA or the LSE you were in contact with ? Cheers
It was the FCA and they said suspending shares was illegal
They were suspended march 2020 and this is still the case
There is an update on companies House. No idea what it means. Are they preparing document for delisting?
Or change of name to Wizz for relisting?
Any interested party can submit a formal objection to the impending compulsory Strike Off action. That could mean directors, shareholders or even company creditors who don't want to see the company dissolved before they've been paid.
Above info I found in google search . I think no harm in emailing companies house objecting . But this doesn't look like good news .
A Gazette notice will declare that the company will be struck off Companies House and cease to legally exist. ... In instances of compulsory strike off, this process is typically initiated by Companies House due to non-filing of accounts or annual confirmation statement.
Above from Google search .
I don't know, it could be a pressure move by companies house to get them to file accounts, or it could be companies house have timelines and their time is up. I'm going to send in an objection for what's it's worth . I'm thinking no company no shares =nothing. Agree ???
Hopefully this can be sorted one way or another nearly 2 years now, absolutely ludicrous situation