The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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No I have not heard of one. It would be nice to hear what peoples thoughts are on this .
Did you find a telegram group?
It will remain at 0 until relisting, you may see a balance after hours.
Sorry I forgot this is a silly question but new to share holding.
What happens to the shares/funds I had in this? My account with lse now shows 0??
I believe the relist to main market was a request from Hellenic as they specified they were looking to list on the main market in an announcement a few months ago
Perhaps there's scope to target a wider institutional base via the Micro Cap or (if they really take off) Small Cap Index?
Great news today - feeling much happier.
From the RNS, one of the conditions precedent is :
.."the allotment and issue of the Consideration Shares credited as fully paid subject only to Admission on or before the Long Stop Date, being 31 October 2021.."
.." I'm curious as to why they're going for a main market listing rather than the more straightforward, quicker and cheaper AIM RTO..."
The cynic in me would speculate that AIM requires a Nomad, a Standard listing doesn't ...and therefore has arguably less day-to-day regulatory oversight.
I may just have got out of the wrong side of the bed, though.
Thanks for that gidget, so q4 most likely. Hopefully by Christmas
Good point Gidget, i hadnt grasped that aspect of the RNS. Presumably we have been suspended from trading as the relisting will be on the main market
The next question relates to how long it will likely take for the RTO to take place and the shares re-admitted for trading?
A similar RTO occured between spinnaker opportunities and Kanabo Research (KNB). A quote from the earliest spinnaker RNS i could locate:
"Further to the announcement on 26 February 2019 regarding the proposed reverse take-over of medicinal cannabis company, Kanabo Research Limited (the "RTO" or the "Proposed Acquisition")"
KNB was admitted to trading in February 2021, almost two years after the target was identified.
However, it doesnt look as if spinnaker was ever suspended from trading based on a scan of the RNS's (unlike UKSPAC). The RNS indicates a name change after a number of updates concerning the progress on the RTO.
Perhaps the circumstances surrounding KNB are not so similar to what we can expect here, but it certainly took a long time for spinnaker to become KNB from the point the target was identified
I’m in EUA too
No crystal ball needed, just a lot of patience. And I mean a lot
Can I borrow your crystal ball please. I need it for EUA!
And the chairman of hellenic is only a former london mayor if this happens looking at their website thing look really good
Nice, looks like it was worth the punt then! I averaged down just last week also. Well done all holders.
Fantastic waking up to this great news this morning , well done to all invested and for keeping patient . All looks very promising now
Patience works when you follow the money !
That's great well done too all that held there shares patience pays off as been having a nightmare with most of my share oex rur ect
Billy,
It says in the RNS the expected value of your shares upon re-listing should a minimum of 0.47 so that approx 140% up from Fridays close.
Well done all holders here. I held a few million of these at one point and had been considering buying back in recently with the fall in SP. Patients has paid off for those of you still here, congratulations.
So does that mean when we are back trading it will be at a higher price
My smallest holding but pleased that it looks like it's playing out nicely.