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5.6.18 goes into detail on examples where the FCA will be happy to lift the suspension. Down to icon to provide more details I guess!
FCA HANDBOOK 5.6.8 clarifies the current situ
Looking at Boston international as a comparator here, gives an indication of how long it may take. Although I believe we have a prospectus is place already which is often a stumbling block can someone confirm?
🤐🤐🤐🤐🤐
These days TR1 system used and abused by all , until done or never put one out in the first place, back then those compliant gave it away and easy to spot.
As with the forward selling , usually commencing 7-10 days before (cough) the placing messages arrive, just take a look at the REAL LSE, trade recap pages, trend and volumes/direction, again in most cases sticks out like a donkey's do dah.😉
If its the one I am thinking of you are way off the mark the original just £2m cln moved from 2 billion shares in issue to over 30 billion and if you write them all down back then clearly all forward sold at higher and dropping price before the next tranche announced on the day , the last one was supposed to hit the market. When it all came to a head, they said we still owed $650k plus warrants (this was pre consolidation as we tumbled from 0.3 to 0.003 )
The original rns was full of 🏀⚽⚾⚽🔐🔏🔓🔒's also , stating each conversion would be done at the HIGHER of 10 day VWAP or nominal 0.01, the first two tranches at vwap, then all became at 0.01 when current sp and vwap higher and then continued to go below.
if they have not got rid of them go back get two pieces of paper and prove it yourself, start the April, list TR1 date amount and on the other the date and next tranche , slide it one position and they amount previously held in tr1 was the next called for amount , not what was stated in new and the date of the next tranche announcement, was surprise surprise the previous was supposed to hit the market.
All forward sold by slimy wonga for profits on each and every DROP and more and more confetti, based on those which I posted at the time, another poster worked out the millions they had made over the £2m at prices when they were really dumped/forward sold...... 🙄
ICON was bent over and ...................more than any company I have ever seen, only copl in the same league.😲
it managed to churn high before every call , and churned pre consolidated over 200 billion shares moving from 4 to 16.4
with not a TR1 in sight........warned that board and posted the details, including the Arty Farty pants on fire ceo and his strategic £350k purchase (from the million plus allowances he pays himself annually for 14 years of failure at the time)
such hardship, to pump his co for another wonga raping, same as he did at what was now the EQ of £2 -£3 a share 12 years earlier...😲🙄
Shut down initiated by the market not the company, who delayed informing holders. The market asked the question, it was up to icon , to then respond, it did not, so the market did it for them, just like they have for others in the past.
Suspended @ 16:00, with 1/2 hour left to do another huge run on relentless buying in order to protect investors from making money LOL!!
why not after the Market close like everyone else ??
why were they in such a rush to shut it down Immediately before they tell MM or any other platform of this plan ? people was still loading up well after 4pm grabbing what they could LOL!! this has got to be the worst FK up by the people in charge of the Market for 2024
GL, to all that topped up even @5.50p as i think that price will be history when we come back....
I still think it's the DRONE CO with all those contracts in place and already making a profit that BRAD is heading'' that is still to be listed, BWTFDIK... but 1 thing for sure there will be a name change...
Just wondering though, why are we suspended if we haven’t actually agreed to an RTO? It’s purely discussions at this point? How can that be normal practice? We haven’t even entered the process atm
Disappointing, that they did not do the usual quick response to Mr Markets question asked yesterday, rather than the market pull the plug , pre RNA over rns. Todays a blah, that could have been done, immediately the market questioned.
But its done now, so we wait, how long is anyone's guesstimate. 🙄
GCG which attempted an RTO, did not happen then quickly moved on to another target, it suspended for new RTO 6 months ago, pretty much silence since other than Dec rns on finance and comment rto proceeding as anticipated.
Been in 50-60 probably over the years, some very quick , most 4-8 months, a handful longer, 4 never came back, two of which are still around and say still trying to get back to market, one taking a percentage not all of Transgas as planned with a move to Main Market vice original AIM.
Bradda Head Lithium only recently returned, thought it was long dead and buried, then suddenly opened back up in my bottom draw.
Lots of hurdles to cross but the first and most important, is getting that deal in place ASAP, so the return process can begin...........GLALTH.
"Protecting investors." Was of concern to me at first, but I think the FCA (Actually doing their job) were covering for the lack of communication from ICON.
This can go either way with talks for a possible RTO. It either materialises or the company eventually folds.
It could be a lengthy process or it could be that they have been in talks for a while.
Hopefully, this turns out good as I have lost alot in the past with this lot. GLA
Standard practice GB, suspended until deal completed , could be weeks/months/some more, then its completion of the final two parts of IPO, with new prospectus to FCA (2-3 Weeks if in order) then 10 working days application to the Exchange to return to market.
To the deal Unlimited time
Back to Market 4-5 weeks
If an RTO drags on its down to the companies, no one else, e.g. are they actually in late stage talks, will the paperwork to the FCA be accepted first submission (or like some thrown back a few times)
Some never get a deal done, or get approval, ICON and the target companies paperwork/results/audit, have to be up to snuff, or it gets ping ponged for additional info requests, until it is, or no approval.
The Market is the easy bit, once paperwork/Prospectus cleared, its a mandatory 10 working days process.
Not always….look at WRN they never came out of suspension.
Agree Neil unfortunately the art of being polite is something few on here know.
What’s the next steps here then? Am I right in thinking RTO’s take 2-3 weeks to complete? Obviously we haven’t had the confirmation it’s agreed yet so what do icon need to do now to have the suspension lifted? I wouldn’t really class talks as a cause for a suspension… can name dozens of companies in discussions! It’s part of their strategy for Petes sake.
The Financial Conduct Authority ("the FCA") temporarily suspends the securities set out below from the Official List effective from 28/02/2024 16:00, in order to protect investors pending clarification from the company:
That bit about protecting investors which was released yesterday by the FCA is the only part I'd be slightly concerned about but hopefully it's just standard in these scenarios
X2 RNS seems to be all over the Market ATM, and not just us''
ALL OR NOTHING LOL!!
Here we go again (
Well thats another stock potentially tied up for some time if its an RTO.
No problem,every one thinks the same. X
Awww OK
With the SP down 92% in 365 days even after yesterday's 150% spike I assumed AIM lol
Neil, main market , not aim. X
Mo problem GB. I didn't know you were in here. Bravo 👏
It's normal human nature to be happy when others do well.. especially I guess if you do OK at the same thing yourself.
It's only that toxic cesspit of jealous folk on HE1 forum that could never congratulate us lol
That’s it money tied up for 6-24 months .
Sun den who is the RTO you speak of?