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It must be imminent, the de-listing happened 4 months ago. Perhaps the legal case is causing delays to the share structure?
Any idea on when the Mustang prospectus might be issued?
suspended as per aim rules, pending a prospectus to advise investors what direction the company is taking next and what investment required to do it. dont panic mate.
Have a few of these in my SIPP and have just checked in to see how my portfolio doing only to see MUST suspended? Can anyone give any cliff -notes? Is this bad? When are we due to start trading again? Or are we doomed? (Wouldn't be 1st time a stock I own just dies.)
Well, an outline of a protracted timetable has emerged from their Annual Report, yesterday, with the following:
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As at the date of this report, the Company has announced the acquisition of a 22.10% shareholding interest in VRFB Holdings Limited (the “VRFB Transaction”). Given that the Company has been in active discussions with the relevant stakeholders in connection with the VRFB Transaction for the past several weeks, and because the Board was wary of the significant risk posed by other interested parties making offers should negotiations between the Company and such stakeholders become unduly protracted, the Board resolved that it was in the best interests of the Company and Shareholders as a whole if the VRFB Transaction was prioritised ahead of calling a Shareholder meeting to vote on the Board’s recommendation.
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Fully understand adopting the sequence of events above and it demonstrates commercial intelligence. Pleased by that.
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Notwithstanding the announced VRFB Transaction, the Board shall propose a resolution to Shareholders at the Company’s 2021 Annual General Meeting, to be held in June, in line with the commitment that was contained in the Prospectus (such extract as set out above). The Board will unanimously recommend to Shareholders that they vote in favour of the Company continuing to pursue an Acquisition for a further 12 months, the Acquisition being the VRFB Transaction. Shareholders should note the VRFB Transaction remains subject to certain (additional) Shareholder and regulatory approval,
*** and which the Board currently anticipates will take between four and five months to conclude. ***
The Company will communicate with Shareholders at a later date in respect of such additional resolutions that they will be asked to vote on.
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However, conversely, the second extract above demonstrates, for me at least, a distinct lack of pace, particularly as key resolutions to unlock progress will be made at the AGM in June.
Four to five months to conclude the purchase of a percentage interest in an existing operating enterprise, regardless of 'wooden dollar' complexity. Not impressed by the lack of pace at all. Let's hope it's simply a case of 'under promise and over deliver'.
Thanks RII.
Like you I had no interest in selling but not great to have the opportunity taken away! And I share your conclusion on what next... ... haven't the foggiest!
Sween
Well, it's an 'of the moment' sector. Here's Myles McNulty's take on it from a BMN perspective in a recent tweet.
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A class interview from #BMN's CEO.
BMN has been - and continues to be - a major catalyst in driving the growth of what looks certain to become a multi-billion dollar market: VRFBs, for industrial-scale energy storage.
A market dependent on BMN's highest value products.
Genius.
Quote Tweet
Bushveld Minerals
@BushveldMin_Ltd
· 6 Apr
Bushveld Minerals CEO, Fortune Mojapelo provides an update that Bushveld & other investors are investing US$30 million into Enerox, a leading #VRFB manufacturer, providing the company with capital required to increase capacity to 30MW
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If ever I get the choice by having advanced notice (such as COPL), I will always opt not to remain invested during any temporary suspension, regardless of possible uplifts on relist, for exactly the reason you've just highlighted.
There's no timetable, other than a final date for the transaction to complete. Here, I had no choice but to remain invested and it's a relatively small % of my investing pot, so I'm not overly perturbed but I never appreciate having a choice removed to sell a stock of ever I wanted to, not that I was looking to sell here yet. It's just a personal preference, never to be controlled by someone else's pace or lack of it.
The short answer to your question .... I haven't the faintest idea.
Intrigued as to what others thoughts are for likely next steps?
Have never found a stock myself with a stock in this situation previously.
Invested $2.4 million in Must,look what their £630 k did in GGP?x10
Congrats on this morning been watching and didn't buy on the dip gutted now. Good luck
https://www.lse.co.uk/rns/BMN/update-on-enerox-gmbh-investment-nb5vdl7vyjnmf38.html
At last. Something is happening.
Who made that anomalous buy that annoyingly ruins my perfect chart?
You guys want to invest in a real cash shell
STERLING ENERGY .40 mill cash and now ready for lift of with Tullow ceo on board .
Richard Edwards appears to have popped up on the latest update of the register, I don’t recall seeing a TR1 but it appears he’s holding 3.16% of the company.
Free float getting smaller... hopefully BoD appointment and update on target RTO (Enerox ??)soon.
https://twitter.com/corsierichard/status/1380407402701463552?s=21
??Richard Corsie?? increases his holding by 25k, post Acacia shares being admitted to take him back over 10%.
Momentum gathering again. Run at recent highs incoming ahead of news!
Mustang has updated their shareholders overview, free float is about 25%.
Interesting RNS from BMN on Enerox today, not a huge amount given away but the reference to IES and their listing on AIM, then stating that Enerox are looking to follow the same script! Still all points to MUST IMO and the key link being Acacia.
Our first investment of US$5 million in Invinity played a critical role in establishing Invinity out of the merger of Avalon and RedT, and allowed it to access follow-on funding from the equity capital markets, establishing a leading VRFB player. In addition, to a healthy return from Bushveld's US$5 million investment, the success of the investment in Invinity is evidenced by its AIM listing with a healthy >US$150 million market capitalisation and a well-funded programme to scale up its production capacity to support a solid pipeline of announced VRFB projects.
Our investment in Enerox follows the same script of mobilising third-party financing to scale up manufacturing capacity and sales, while establishing a platform for collaboration in developing projects into which we will supply vanadium. The funding commitments of Enerox's shareholders are a strong vote of confidence in the potential and strategy of the company. We believe that this additional capital will place Enerox on the path to becoming a major player in the industry. It further cements VRFB technology in the rapidly growing stationary energy storage sector.
https://mobile.twitter.com/BigBiteNow/status/1375353858415857664
Looks clear to me.
https://twitter.com/aim_bagger/status/1374624602291367939?s=21
FOMO kicked in for me yesterday morning so I bought in, its gone down since then. Sorry.
Morning Cando,
Holding tightly my friend.
How’s things?
We are def on verge of new high from 34p, just a matter time before fomo breaks in.
Let’s have that little bit of news to do 200%
Come on it Must Be soon
GLA
Offer = 34p - Verge of new breakout anytime from here on.
Time for a cuppa tea...