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ATB
To avoid confusion, I thought best to post to say I have since had it confirmed that the 29th May is the RTO deadline as was highlighted by others. Indeed, the suspension was the trigger for the 6 month clock.
So if that was the case they have been legally threatening a bloke who just there because they need a director who is wondering why someone is legally threatening a holding company?
So again if the chinese folk??? had put it into a chinese company that would show up on cadstre?
so thats a MOZ company as far as i know...not a chinese one now if the licence was sold to the chinese ild think it would be attached to a chinese company?
so is it a holding company? have these idiots been talking to someone who effectivly there needs to be a director off it....a diector off a holding company?
So again your going after the MOZ goverment? now not general veloso? who put the licence in there and why?
the new lawyers from manchchester or the amubulance chasers???? dont seem to be doing this well???
Again TZM is the new vechile used to hold the licence whilst this rubbish is sorted out as far as i can gather no money changed hands to put it there there (would off added to the % case numbers)was alot off political stuff in MOZ...scandal etc and it was that valuable that they put it in there for saftey?
Again your going on about the claim being the IMM shares which as far as i can gather is the vechile that was used to hold the licence only in MOZ...the cadstre always said pathfinder........so again the claim should off been just a legal document transfering the rights not a share transfer?
If my understanding is correct (and please do correct me if I'm wrong), the suspension was triggered as we had disclosed that we had identified an acquisition that constituted an RTO (7am RNS on the 29th Nov). The suspension is then in place to give PFP a window to make public the Admission document for the New Co and shareholders have been given an opportunity to approve. However, we became a Cash shell when we sold IMM. The below is from page 8, 'AIM Rules for Companies' version 01/01/2021 (available on the London Stock Exchange documents page):
Under Rule 15:
‘upon completion of the disposal or action, the AIM company will be regarded as an AIM Rule 15 cash shell. Within six months of becoming an AIM Rule 15 cash shell, the AIM company must make an acquisition or acquisitions which constitutes a reverse takeover under rule 14. For the purposes of this rule only, becoming an investing company pursuant to rule 8 (including the associated raising of funds as specified in rule 8) will be treated as a reverse takeover and the provisions of rule 14 will apply including the requirement to publish an admission document’
Thoughts certainly welcome.
Err isnt that its going to remian at this price until the rto is rejected for some reason....becomes back on again but maybe instantly shelved or you get 6 million quid to start again
From RNS 9798U 29 November 2023 :
In accordance with rule 14 of the AIM Rules, the Company's Ordinary Shares will be suspended from trading on AIM with effect from 7:30 a.m. today. The Company's Ordinary Shares will remain suspended until such time as either an admission document is published, or an announcement is released confirming that the Proposed Acquisition is not proceeding.
The Company will release further announcements as and when appropriate.
RTO deadline date is therefore May 29th 2024, I believe.
Thank you. Reading the RNS 18 Aug-23 I agree with your conclusion.
Morning FB/Poppyseed, that would be reassuring. I emailed the BoD and Nomad for confirmation last week, but I am still waiting on a response. I have been back on forth on this date (sale or suspension as the starting point). However, my reading/interpretation of the 18th August RNS implied the clock had started then:
'Following Completion of the Disposal, the Company has ceased to own, control, or conduct all or substantially all its previous trading business, activities or assets and has today become an AIM Rule 15 cash shell. As such, the Company will be required to make an acquisition or acquisitions which constitute a reverse takeover under AIM Rule 14 (including seeking a re-admission as an investing company (as defined under the AIM Rules)) on or before the date falling six months from Completion and be re-admitted to trading on AIM as an investing company under the AIM Rules for Companies (the "AIM Rules") (which requires the raising of at least £6 million), failing which the Company's ordinary shares would then be suspended from trading on AIM pursuant to AIM Rule 40.'
Has the 29th May been confirmed to you?
Indeed FB, so despite all the garbage on here, we're not talking panic, we're talking 29th May which, strangely enough, fits in very nicely with the 15 Apr 2024 long stop date published when the Rome RTO prospect was first announced and clearly allows enough time for all necessary actions to be completed before then producing an Admission Document:
"...The Company and Rome Resources have also entered into a binding exclusivity agreement pursuant to which Rome Resources has granted the Company a period of exclusivity until 15 April 2024 to consummate the Proposed Acquisition ("Long Stop Date")... "
Lol think the boarrdies or financail experts havnt done much RTO takes ages be locked out for 9-12-15mnths
think it just had to have an RTO...now the problem will be regulatory with AIM...there kinda tricky to saya the least and has to be done correctly
Done some digging and now believe we should be looking at a date 6 months from suspension not 6 months from sale before AIM becomes an issue.
So if that is the case why do a RTO? if you dont have the time to do it? seems silly you wont be able to report anything or less during a RTO period?
And looks like hes spent exactly 90k worth off shares in the new co...??? wow keen
so a shelved company is worth 750k+ ?????now mcap 3million or 0.07p per share ....wow..wow...wow
And looks like hes spent exactly 90k worth off shares in the new co...??? wow keen
So has mr jennings bought a load off shares in a shelved company?
And to top that all up what they seem to be going on about is the 6mnths from 18th aug which is a week on monday
so on a week monday does it get shelved? and the share disapears and no RNS are required?
and one month from that the celtic vs bhoys club goes on trial!!!...sry you were going on about newco's
So 84-85 days since the end 3 monther now thats if they put it in at the very last moment and not before during the 3 months
so aug 18th clock starts have to do it then so has to go in by nov 18th??? but did they extend this?
because iff this we actually dont know how long this will actually take
think ill take a holiday somewhere northern till this mess is sorted out
And this is the Luangwa offices?
https://www.youtube.com/watch?v=LjXDNrsTG_Y
Lol phone number Switchboard: +44 (0)203 7516255
Why does 0203 keep calling me?
Many 0203 numbers are affiliated with computer virus scams where desktop owners are charged to remove fraudulent malware after taking a “courtesy Microsoft call”. Some people also realise many virtual businesses use 0203 numbers to give off the appearance of being based in London.26 Sept 2019
Humm...doubt ill get a reply tommorrow.....thought they were american to get the delaware thing?
Glorified web cafe for businesses
or is it a bar? well not in a legal sense anyway...lol
https://www.google.com/maps/@51.5138854,-0.0864102,3a,75y,168.77h,90t/data=!3m6!1e1!3m4!1sWmYZDDt2z_Q0fUBmBHn1fA!2e0!7i16384!8i8192?entry=ttu