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Noujay , I agree it is unlikely that another buyer will be able to get approval from Lesotho govt quickly so we have a chance to still get it , and probably for very little or nothing . Lesotho will probably want to see evidence of the funding before giving approval , and not rely on promises as they did with us , but they will have learnt their lesson with us , so will possibly want concrete evidence this time around , so any other buyer may now have to have finance genuinely in place . So if in the meantime we get what has been promised so many times re the funding , we are in with a good chance of securing it , assuming we haven't lost too much credibility from all the over promising and missed timescales we will have given them .
That may be the probability but I'm not sure it changes anything (aside from people wanting to exit of course). Still trying to wrap funding and to get into production. Re Mothae - how long do you think it will take another party to wrap it up and get ahead of PRG before they secure funding to complete? Remember they already have to get govt approval too which PRG have in hand. Any other potential buyer needs to prove funding (initial and second phase) as well as securing government approval for the license. That isn't going to happen between now and end of January IMO so if PRG get their funding sorted before another party goes through all the hoops they had to over the part 6 months or so, then the game is still on. They must be gambling they can get it done before someone else. All they have lost is exclusivity not the deal. Delisting - makes no difference to that at all. Ok so there are relisting costs but they aren't so great as the loss of value that would occur if they come out of suspension without a funding package. All IMO anyway.
I admire your faith Philphil ! To believe they are still working , despite them saying to their receptionist they are not , and now on holiday . Let's all hope you're right to still believe in them to that extent at this the eleventh hour ! A last minute RNS saying they have got an extension of the suspension, a nomad on board , and the funding in place would be the dream ! But sadly , I don't believe in father Xmas , and think the overwhelming balance of probability is that we will be de listed and just continue trying to get funding and hope Mothae doesn't get taken by another party meanwhile.
yes it is not complicated no body may be in the office since the start of this week but people will still be working. Rarely do you get through to Simon over the phone, you never get through to Philip and you normally get Hugo, there are more than these 3 working for PRG. it is not complicated
NO , they obviously don't have to be in the office to be working !! But they probably wouldn't tell their receptionist that they are now on holiday if they were actually working !! This is not complicated !!
Well according to PM, we should be double digits SP by Thursday, now that's a frickin good chuckle.
so all PRGs workers have to be in the office for them to be working? I dont think so
Philphil , yes I KNOW they were in last week as I also spoke to them last week ! My point is that they are NOT IN THIS WEEK and that is clearly not encouraging is my entire point !! Enough already on this , as I don't think I'm getting my point across at all ! Or blind faith and optimism is at play ! Anyone who thinks they are beavering away still , should perhaps just ring their office !
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/other/12223477.html For those that are not sure of the exchanges view and position on the 30 day rule, the above article offers a rather sobering appraisal. 24th Now being a Tuesday would allow for 23rd Dec to be the 30th day. The company in question actually had their shares cancelled on 22nd January but this likely allowed for the 3 bank holidays over the Christmas period and the fact that the 16th january was a Friday. Paragon have no bank holidays to fall back on, so the announcement should be tomorrow. That said delisting does not mean that the company is finished, it only removes their trading platform, which is a well recognised and authorised body in which to trade small caps. Returning to AIM in the future, is an option for the company once they can demonstrate they are viable financially. I have in my research only found one example of a company that achieved this, but its existence demonstrates that it is at least possible. The company has the option of opening up an alternative, less recognised means of trading their stock, but having delisted to avoid dilution, this is an unlikely avenue. They will most likely keep plugging away in the background with a view to sealing a deal and returning to AIM.
they have more than two people working for prg phil manduca has money tied up here you really think he is on holiday. come of it lol I suggest you try calling them as I said I spoke to someone in the office late last week.
They may wait I suppose until the day of the official delisting until releasing an RNS , and they may well go back to the Mayfair office to field calls from concerned punters then I imagine . Although it will be a private company then as opposed to a quoted company , so who knows how they will operate !
Philphil , I wasn't talking about their pr company, I was talking about Simon Retter the Finance Director and Hugo Phileon , the two PRG employees who are in the Mount st , Mayfair office of PRG , and who are clearly NOT working as they have told the receptionist that they are on now holiday !! I suggest you call and ask her rather than carry on under the illusion that they are 'obviously' still working ! As it is self evident that they are not , which has 'obviously ' worrying implications, which is the point I was making !
They can't just sit on an RNS if there is any update to the market due.
Well I sincerely hope that PRG are still at work ensuring a most fruitfull Xmass for us their investors. If they have closed Shop and gone Xmass shopping hopefully they have already sorted it all out and have an rns pending. If the PM pulls this off the way we are all praying for then someone needs to by that man some serious whisky..... and anyone else responsible.
In the past, I've had good comms with Hugo but have not had answers to any of my emails of late. Like I said a while ago, either they've closed early for Xmas, or just closed!!!!!
end of last week I had to leave a message but they got back to me also you do realize that most of the calls go to a pr company on prgs behalf, obviously prg are still working at the moment.
I meant out of order not to be available at all this week , at such a critical time , when shareholders will want to know what is going on !
Philphil , are you saying you spoke to them this week ? I am told they haven't been in at at all this week . I agree they were in all of last week which seems a bit out of order to me !
try them again I spoke to someone recently
Technically it's the 29th I believe that the actual delisting officially occurs , although we only have till 24th to do anything due to Xmas . According to the receptionist at the office there has not been anyone from PRG in the office this week, and she was told they had left for their holidays . So a pre arranged RNS must have already been prepared and ready to go very shortly . It's not rocket science to know what it will probably say !
Noujay , when did you speak to them ? And what did they say ?
is no news good news? if they failed to get a nomad surely it should have been rnsed by now
it is just a PR company i doubt they have many people working this time of year i recieved a call back the other day, just leave a message and they should get back
I've found an email is always followed up by a phone call so perhaps you might try that. 103 Mount street is chock full of financial/fund related companies - if only some were keen on investment grade diamonds! Macca - Funding still up in the air, unsure if which way it will go, to expect news soon. Nothing particularly illuminating!
Noujay I called yesterday (goes straight to voicemail for a person called Hugo) and left a message. I then called again today and the same thing. I haven't received a call back. Very disappointing as a large shareholder.