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How large are you talking, can only see 300,000 share deal as the biggest and that's only +- £3000 ?
According to LSE, there's some large trades happening - any clues on who is doing this?
Ditto
Ditto
Done this morning...
Get your votes in folk.
There are several companies that have delisted from AIM this year and have had a Matched Bargain Facility with JP Jenkins. Has anyone had experience of using this facility and can you get a decent price? I’m thinking if the Dubai investors were happy to subscribe £1.1m at 2.5p per share less than 3 weeks ago, they would be happy to add at more than the current SP of around 1p. Comments welcome
I have read through the last RNS, which seeks to explain the reasons for delisting. The document is peppered with typographical errors and it appears to have been cobbled together with little care and considerable haste. If this is the best that the directors and their legal advisers can come up with, no wonder the company is struggling. Rather than keep the directors and cancel the listing, the converse seems to be a much better option.
Like others on here, I am appalled at the actions of the BOD of this company - go out to raise more money, and then delist a few weeks later (if they get the votes of course). I for one would be delighted to see the motion not carried - their contempt for shareholders - big or small - is awful. I might not have put a lot into this company, but it's more a matter of principle in my opinion.
How dare this bunch of incompetents blame the mechanics of the market for their failures?
Liquidity naturally occurs when there’s a positive story to follow .
Basically, taking themselves private without paying out the investors.
0wn 13.8%. No mention of new Dubai based investors. Interestingly with a massive spread only 50k available at 1.495p.
Totally agree wakeyinvestor, vote this down
The placing shares on 18th August and the directors shares amount to 61.58%. I think Rathbones and Bannick may be out, if so, there is more needed to get 75%, but even so, yes, get buying and vote this down. It’s daylight robbery for existing PIs who have been stripped of significant value, but only if they get the votes
"the Cancellation requires the approval of not less than 75% of the votes cast by Shareholders"
only 70% held by major shareholders, this could get interesting !
"the Directors consider it unlikely that an equity fundraise using the public markets would successfully raise additional capital (or provide the optimal platform to do so), should it be so required"
so stick your hands in your pockets and buy some shares like you never did you greedy b's
I see buried in the RNS of this cancellation is the resignation of the CFO ‘to persue other business interests.’ Like a company with an actual business? not a very attractive CV. I don’t care what their Middle East backers do . To have a placing on august 14th and suggest delist two weeks later has to be something of a record for Aim. Can’t see this ending well. Pure punt!
13.8%
And the Middle Eastern investors will want something more than the 2.5p they paid - ITS all over again
Looks like it
1.78 to buy now. 2p on the ask.
NT to buy at 1.5 ask, looks like the next leg up is coming. Could we break 2p today?
Can't help but wonder, could this be the next ITS !
Very difficult to buy in volume, small freefloat, sub 2p will not last for long IMO-MM's need to lower the spread to encourage liquidity as the huge spread will put off traders. who are important for liquidity. No set time yet for the circular or proposed delisting so a lot can happen in the meantime. Look at ITS which went from sub 0.30p to 4p.
DYOR
Selling has slowed down considerably. Rathbones and Herald who held 3million together may well be out but lets see.
Online is now 150k max at 1.40p which is the lowest limit since yesterdays RNS. And yes its a horrible spread but the company is worth more than current levels.
MickR I agree, I bought at 1p yesterday on the basis of the Dubai investors were prepared to pay 2.5p 2 weeks ago then they should be prepared to mop up shares at a price heading more towards 2.5p either before it delists (that assumes the votes are there, but I don’t think that is by any means a done deal) or in the post delisting facility that will be put in place. Even if it turns out I’m stuck with the shares, the company prospects are good as it has just raised £1.1m, there are receivables to come (they have merely been delayed not written off) and in last 2 months new contract wins. For me this is a win win. IMO and DYOR
The placing was at 2.5p and the par value of the shares is 2.5p so that is the floor.
MM's need to narrow the spread here as it is 50% currently which is a joke-it is as if they do not want any buyers!!
I have put in several FOK orders at 1.10p all failed. I can see the SP hitting 2.5p soon.
DYOR