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Emailed Peter Jay regarding delisting and just had this reply
Hi David
I can confirm that the Company will be delisted from AIM on 2 February. The delisting cannot be delayed or cancelled.
The Board will issue an update shortly.
Kind regards,
Peter
Looks very bad I’m afraid. Looking like the FCA doesn’t want to take any chances with allowing cannabis companies trading on the UK stock exchange. I hope I’m wrong but no updates is not good.
What’s everyone’s thoughts on this? No news of re-listing and don’t think it’s looking good either for 31st
There is one week left before compulsory delisting for UK Spac. If the FCA block this deal it means no other Cannabis company will have a chance to get listed in the UK, so the stakes are very high!
I hope it does but the boss of Hellenic has said this type of thing before and then nothing happened, so I'm not banking on it. Fingers crossed we get some positive news in the next couple of weeks.
Would be fantastic if this went ahead. Thank you.
And if anyone is holding this through the Halifax, log in for a laugh!!!!!
Despite my doubts about the FCA dragging their heels, are we about to get the green light from the FCA to be listed on the LSE in the next few weeks, well it appears so if you read this article? Being first to market could be a boom for this company one would have thought? ADYOR!!!
https://businesscann.com/cannabis-cautious-financial-regulators-delay-uk-cultivators-london-stock-exchange-plans/
Theresa May and her husband have a massive cannabis farm if you didnt know.
Malta legalises recreational cannabis. Could be good news?
hTTps://apple.news/AHGy9PjDTN3yccPKb3eBWJg
Well at least we know that the management team haven’t disappeared to the Bahamas with all the loot!
The Board of the Company and its advisers had expected the transaction to be completed and Admission to have occurred by 31 October 2021. I am able to tell you that the delays in completing the purchase (and the postponement of the Long Stop Date to 31 January 2022) did not result from any problems with the transaction or those raised by the FCA but from the fact that Hellenic's business will be undertaken in the German and Greek markets and this has substantially increased the due diligence requirements of the transaction and the Company has had to obtain opinions in various jurisdictions. In addition, as Hellenic will be one of the first medicinal cannabis cultivators to undertake a London listing, the FCA, understandably and appropriately, requires an extended period to consider and review such an application due to the nature of Hellenic's product and to review the Company's systems, procedures and controls and licenses.
As the Company and Hellenic said in the announcement that the former put out on 1 November 2021, they are both committed to completing the Agreement at the earliest possible date.
https://www.lse.co.uk/rns/SPC/half-year-report-u7x8fg9xcprithq.html
Some time in January if my info on nov 15 comes true , check my post for that date
Any update for relisting dates???
…..Aren’t approved…..I meant to say
It ain’t going to happen as the FCA appear to have kicked this application into the very long grass. The stock will be delisted early next year if agreements are approved by the FCA it seems? That’ll mean game over one assumes?
Hi is that anyone knows SAPC realist dates?
Germany set to legalise recreational cannabis and Uk firms could lose out. Especially if FCA keep dragging their heels!
hTTps://www.searchinglifescience.com/media/1197/the-race-to-eu-cannabis-legalisation
hTTps://www.reuters.com/markets/commodities/germanys-next-government-aims-legalise-recreational-cannabis-2021-11-24/
Another month has gone by without any updates. Is this going to go down as just another con job by some dodgy characters looking to get handfuls of cash and disappear to the Costa Del crime? It wouldn’t be the first time it’s happened and it won’t be the last? I hope it’s not the case but hope of a deal is running out of time it appears? Adyor!!!
J66, thanks for passing on. ATB
Good bit of work but the FCA should not stop businesses from completing important transactions/listing because they lack Human Resources to carry out their duties! The AIM rules are quite clear and not sure if delays caused by an inept FCA will allow for further delays prior to delisting?
Moni Thought you might like to know I have just had a telephone call with Peter Jay at UK SPAC and asked him how things are moving , nice chap had a long talk with him , he told me it will be finished in January that FCA are very busy and understaffed which is making the process longer , but he says all is moving along fine ,exactly what was in the RNS so we should be ok .
The Pope, as we ain’t got a prayer of this getting sorted by 2nd February
Not something I would normally do but i am thinking of emailing someone in the hope that it might get some answers but I don't know who any ideas?