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Generally in excess not genetically!
To get a listing on the MAIN market , the market cap has to be genetically in excess of £100m , it's actually normally more like £200m for the MAIN market , and about £10m minimum market cap for new entrants to the AIM market . If we don't get anywhere with funding I completely agree that we will have some value as a relatively clean shell , they often go for about 500k premium , as it saves the costs , hassle and time of getting an AIM listing and is instant .
This could be of interest as an RTO to many of the cash shells on the main market...market cap does not have to be anything like £100m.
Price will be set same way all prices are: level at which demand equals supply. I think it's 50/50 whether this company ever returns though - fingers crossed!
With sensible funding in place , the price should be in excess of 10p , subject to them securing Mothae . And there will be a modest placing at some stage in the process I imagine.
genuine question in regards to market makers making the price, when companies list the board make the price with a new prospectus for the company do they not? marker makers can then move the price up or down on the open depending on the liquidity. got to say that is a really good question saxxon and something I did not think of. if they do get funding under a new listing then the price can be set substantially higher than 4p. imagine them getting funding at 4p now if the company came out of suspension it would struggle to go up 10-20% I would have thought.
If they are successful in obtaining funding and relist on Aim , the market makers will make the price , and with funding in place it should be a double digit sp . I'm surprised they mention the main market as well as Aim , as the costs to get on the main market are around £800k as a minimum , and the cost of maintaining the listing at least £300k pa . Tend to have to have a market cap of well in excess of £100m as well . It's all about getting the finance as always ! And in this case also about still being able to secure Mothae when the finance comes through .
Question.... "When" PRG relist on aim or where ever else.... at what price would the shares be valued at? The same price or at another predetermined valued set out by the company?
well apart from the fact that they failed to get a nomad in time fundementally nothing changes with prg they still are seeking funding and if they get funding then they can relist and bring on a willing nomad. god knows how it has taken this long to get funding but mothae had a big part in that I suppose. why oh why did they not just stick to ITGT funding for lemphane, mine would be in production and sp would probably be double figures now
I have set up a topic under Paragon Diamonds Shareholders on General chat ,as a potential forum once this is de-listed.You just go to General Chat .General topic.This maybe easier than having to sign up to different sites etc. Just a thought .Philphil I like your optimism and hope you are right.After losing a fortune this year on Afren I am very cynical with regards to shares now. GLA. Merry Christmas all, lets hope 2016 brings good things.
Not the news we all wanted but the right decision I think. What's the point in being back on AIM if the finance isn't in place? They can't come out of suspension without the deal being concluded as the sp would be decimated, so in the end it was the right decision for the shareholder and don't forget PM is the biggest single shareholder. He's protecting his own interest which by default protects us all. With a 21% stake, this isn't just another AIM failure. If we were really close to going under then actions would have been taken that would have saved the company but halved the sp in the process. We're obviously far from that position otherwise that action would have been taken. It's because we aren't privy to insider knowledge that we panic.
disapointing but not over yet if they really are in funding talks then hopefully they can close out soon after the new year. even in the notes it says they want to go into production in 2016 so just because they are off AIM does not mean they are not working.
Hi Guys,Such a shame but I suppose it was what we we were expecting.It is ironic that in the big scheme of things the finance needed was not that big.You can only assume PM was too stubborn to compromise some.He said he was protecting the shareholders etc. but I think most would have had preferred listed shares worth 2p than all this uncertainty.At least shares can go up but now we don't know where we stand.I assume our brokers will advise what will happen now with regarding holding the shares.Not a good Xmas present PM.GLA
Doing a bit of research and it seems to re-list back on the exchange all they have to do is relief the problems they had on delisting i.e. get funding/capital and a nomad. So will not be difficult for them to come back online if they do indeed get funding and as they stated "highly confident that the funding discussion will be concluded successfully in the near future". obviously take that concluded in near future statement with a pinch of salt lol
If this BB shuts down, now we've been delisted, I believe Discuss The Market will continue to run the PRG board, they still have an Afren board. https://www.discussthemarket.com/company/prg/stream/1/
yes a complete mess on philips part in terms of timelines but as you say now they are off AIM they do not have to pay the fees and now have how ever many months they need to close out funding with no pressure. I would not right this off just yet. they are still in funding disussions and if they finally close it out in the new year then it would be easy for them to relist fairly quick I assume. good luck all
But nothing more than we all expected. We can only hope PM pulls off some miracle. Good to see there's no further mention of concerns with their financial position. Funny thing is, this now gives PM all the time in the world to sort things out without fear of the SP totally collapsing. However, I remain extremely wary of any news that PRG release, considering what we've been told so far this year. GLA.
Sorry for my ignorance but do I just rely on my broker now to keep my shares for any re-list or do I have to do anything different ?
Delist from AIM But update seems positive still looks like they are going to close out funding so hopefully in Q1 this relists again.
Fellow holders, this isn't the news we wanted but it was leading to this. I for one gave PM the benefit with his experience and talk - really thought he would deliver share holder value for us and his company too.. The only slight positive I take loosely from the RNS is potentiall relist on AIM or MAIN Market.. MAIN Market??!!! He really is gifted if he pulls that off. Anyway - we can only wait and see in 2016. We still have our family / friends and it's Christmas so I wish you all a festive period whatever your plans. K168
They won't be coming back. Another joke Company on AIM. Disgusting.
fingers crossed for 2016
Well I admire your optimism. I hope you're right. I think it's time for the company to come clean and explain the various funding routes or options that they considered 'dilutive' and turned down. Why was a placing not considered? I am sure opportunities were available. We should insist on an EGM for a full Q & A.
I think this will spring back to life in the New Year. Frustrating yes but I remain confident that the ship will be righted .
...and there you have it. What a sorry tale. Producing by Q1 2015 they said. The joke's on us.