Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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Gas Turbine Efficiency PLC ("GTE" or the "Company") Result of General Meeting The Board of GTE announces that, at the General Meeting of the Company held earlier today, all resolutions as set out in the Notice of Meeting dated 1 March 2011 (the "Resolutions"), were duly passed. The approval of the Resolutions at the General Meeting today means: · effective from 7.00am on 18 April 2011 the admission and trading of the Company's ordinary shares on AIM will be cancelled (the "Delisting"); and · the Company can expect to be formally re-registered as a private limited company on or around 18 April 2011 (the "Re-registration"); The Company will issue a separate announcement confirming when the Delisting and Re-registration have become effective. The Company announced on 1 March 2011 a restructuring of its outstanding secured loan notes by converting them to equity, which was conditional upon, amongst other things, on the approval of the Resolutions. Upon the satisfaction of the remaining conditions to the restructuring: · loan notes, totalling approximately US$18.5m, will no longer become due and payable on 21 April 2011 but will be converted into preference shares; · the Company will be able to retain the net proceeds from the sale of the aviation business announced on 29 December 2010; and · the security arrangements associated with the loan notes will be eliminated allowing the Company to pursue a working capital facility. The completion of the restructuring will provide the Company with a strengthened balance sheet, which will enable the Company to continue to explore strategic options including a sale of the Group while continuing to develop its business and operations. The Company will also issue a separate announcement confirming when such conditions have been satisfied and the restructuring has been completed, which is anticipated to be 18 April 2011
This will delist on 18th April. It's quite simple, you will not be able to trade your shares on AIM once delisted. You will own shares in GTE after that, you just effectively won't be able to buy or sell shares in GTE on the stockmarket. Therefore in real terms your money is locked in until there is another method available to sell your shares. Usual ways are through JP Jenkins type broker who registers buyers and sellers and matches them up. But I don't know how they workout a share price through this type of deal. Bottom line is, IMO, if you don't want whats left of your money tied in until a refloat then get out and reinvest in something else. Offset the loss on CGT. Some you win and some you lose, its nothing personal, it happens all the time on AIM in this climate. If your happy holding, then put them away and hope they bounce back in years to come. There is of course the problem of pref shares, so if GTE is wound up they will get paid off first. With a net asset value per share of 0.12cents (not even pence) you won't see a dime if they do fold. I had a large holding here and lost 9.6K, but its not worth worrying about...just crack on. Hope it all works out ok for those who hold. All the best.
getting 0.85p to sell
Tnx ill have to hang on till next week hope for better things to come GL.
I beleive de-listing date has been forwerded back to April so trading still on ....
Hi this is new to me III is offering 83p if i sell now will lose £300 are there other optoins open to me GLA.
still ok to sell @ 83p
Hi Ian_C how come they are selling if delisted?
Hi what have i gone & done just bought in GTE been on my watch list for some time!! in at 95p are they about to delist?GLA.
Just checked on my bank portfolio (RBS) & they state that corporate action has been taken & GTE are now de-listed. What happens now?
can,t buy 50,000 on line
Thanks. I bought some shares of this company through a broker last week. If i couldnt sell my shares by 18th april, should I ask my broker to get me the shares on certificates since company will disappear from open market. I dont have share certificates right now.
98p
0.85p
should have said cant buy them on the open market.
the BOD have the funds from the sale of the aerospace business to buy up shares on the open market at bargain prices right now. after de-listing there will still be shares held by private investors whom the board will either have to make an offer to try to buy up those shares of have to share any future profits with.. just because they de-list it doesn't mean you loose your shares it simply means you can't but them on the open market. imo there will be a take over of the company or MBO within the next 4 weeks.
mannnan? where you hidding?
HI, If the de-listing of the company is a bad news then why there is so much trades in buying only. I am new here in shares business so dont have much idea of what it is?
Mannnan what price you in here then m8.?
looking at the number of buys going through I would expect to see this share flying but its dropped , I suspect that the market makers have no shares to sell and are trying to panic people into selling.
COULD SELL AT 1.50P LATER
i just like to recover my money...
to sell
I know, someone said they are debt free and selling UP, i have been watching buys coming in here for days, it would not surprise me if they had no shares left
can sell a 500k at 0.82