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This happened to me before when a UK listed company delisted on London and went to Nasdaq. Basically the UK shares get bought out and cancelled. You get whatever they are worth on the day. You don't get Helsinki listed shares instead. If you want those you have to find a way of buying them fresh.
should be between now and friday? my interp from recent batch of releases? good post hats- you think they might even apply for a further bridging package if they havent sorted out longer term financing solution from when the cash flow runs out? (july?) corbs:-)
First time for me, and a quick google doesn't tell me anything... what do we do with the shares we've purchased on the LSE? Are we supposed to sell them and buy those traded in Helsinki, or do these shares automatically transfer to that exchange? I am guessing it's the latter, but would appreciate anyone with experience weighing in...
When will there be news on the water levels on the pond?
This is the para where mention of reorganisation n order for the Company to be able to continue its corporate reorganisation process in accordance with the Finnish Companies Act, a resolution of the continuation of the corporate reorganisation application of the Company will be proposed by the board of directors at the AGM. As stated in a circular to shareholders which the Company will shortly publish, the positive turn in the nickel market since the early part of 2014, together with the loan and streaming holiday agreement that was entered into with Nyrstar in early April 2014, has improved Talvivaara's situation and in the short term enables the continuation of the Company's and Talvivaara Sotkamo Ltd's corporate reorganisation. These developments also facilitate a faster re-commencement of the ore production and enable Talvivaara to continue to explore the options of identifying potential investor(s) to participate in a long-term, overall financial solution for Talvivaara.
Interesting extract from one of the links Corbine issued. Nickle prices and loan are key catalysts for TALV keeping head above water. Delisting is just a proposal, could be a risk not trading on LSE. However if it does delist, agree with other comments that it will be expensive on finnish market but brokers will give steer. However, market is accepting news and sp stable and more news to come. Comment made in respect of a circular to be issued shortly, is this the good news?. Still have few months trading on LSE if it delists and lots can happen. Hopefully see some positive increases as the fact they propose to delist does not mean affect on sp. What is happening within TALV is key, and at the moment as have always said, signals it is heading in right direction. GLA on whatever decision you make. In order to reduce certain costs associated with potential material capital market transactions and other transactions in a distressed financial situation and due to the fact that a very large majority of shareholders of the Company trade their shares on the official list of the Helsinki Stock Exchange, a resolution, with a 75 per cent majority, to authorise the board of directors to cancel the listing of shares on the Official List and remove such shares from trading on the Main Market of the London Stock Exchange will be proposed by the board of directors at the AGM. Conditional on the proposed resolution being approved at the AGM, the Company will apply to cancel the listing of shares on the Official List and remove such shares from trading on the Main Market of the London Stock Exchange. It is anticipated that cancellation of listing of the shares on the Official List will take effect at 10:00 a.m. (Finnish time) on or about 14 July 2014 being not less than 20 business days following the passing of the delisting resolution. Following the above-mentioned effective date of the cancellation of the listing of the shares on the Official List, the shares of the Company can only be traded on the Helsinki Stock Exchange.
Sorry, should have read......"market HASN'T really reacted to the news and SP stable"
Big assumption that we won't achieve 9p still. Market has really reacted to the news and SP stable. Still have two months to trade this share before its de-listed. News is due before then and we know how this share can move on positive news. Each to their own but good luck.
Out of here to, shame as was hoping to get to the 9p mark. anything else worth considering?
I agree, I've sold as well
So does this mean are shares get transferred ?
when trying to buy nyrstar shares (belgium) lloyds were charging a small fortune per trade. wasnt worth trading as costs per prohibitive-not sure if lloyds would charge similar for finnish access- if i recall rightly i even had to telephone for a price even tho the stock is very liquid- and bang-there is more fees to add. heres hoping talv long termers can get something out of this. between now and july talv future will be a whole lot clearer- or should be-gl all corbs:-)
Well that looks like that then! Trading a non-LSE listed stock is difficult and expensive. Your broker has to have access to that market, there's a foreign exchange risk and the cost of trading plus tax makes it expensive. You can do it but it only works for fairly large transactions held for some time. Sorry, but it looks like this game's over! Pity, it seemed we had come off the bottom and were about to enjoy the recovery.
I order to trade TALV you will have to pay tax like Canadian and USA stocks
So what happens if that happens?
The Board of Directors proposes that the annual general meeting would, with a 75 per cent majority, resolve to authorise the Board of Directors to cancel the listing of the Company's shares on the official list maintained by the UK Financial Services Authority and remove such shares from trading on the main market for listed securities of London Stock Exchange plc.
sensible and optimistic RNS, , please lets have a gradual sustained recovery GLA
I got all excited then! Still, good to see remuneration levels fall materially on previous year. Hope they report on the pond being cleared imminently - by 15th May I believe. Should have a positive impact on SP IMHO.
An unusual late RNS issued. Correct to see remuneration levels lower than last year to reflect position of the company.
Just need a bit of news here from TALV reporting the water levels have been achieved as required to creep up further. SP been relatively stable over last few days as opposed to all over the place. Continued small blue %'s is good for me. GLA
The radical swings have certainly not been experienced. Hopefully the calm before the storm on some good news. Nickle prices swinging very much in Talv's favour. News must be due to report correctly on water levels which will hopefully give the sp a nudge up before the end of may announcement on restructure. GLA
http://yle.fi/uutiset/talvivaara_sai_vaarallisen_altaan_vedet_tyhjennettya/7226898
Talvivaara says the threat of having evaded the payment of the fine gypsum pond tyhjentämisasiassa . The company reports in his blog that it has got into the pool warehousing in the amount of water to calculate the Kainuu ELY Centre to the level required . Northern Finland Regional State Administrative Agency ordered the company last May to clear the gypsum pools of water, because it was found in pools of their risk of leakage . Reservoirs under went a wealth of seepage waters in November 2012 and April 2013 spill pool . They justify the discharge order by the fact that reservoirs foundations, the condition of reliable information . The company was initially supposed to get the empty pools as early as last fall. Drain the timetable was extended several times , as well as the Vaasa Administrative Court of the Northern Finland Regional State Administrative Agency Decisions. Of which , despite the continuation of emptying the pool made ​​for so long that the Kainuu ELY Centre urged the company in February to clear the waters by April. When the discharge is successful, ELY ordered the pools emptied of EUR 100 000 penalty of a fine . Kainuu ELY demanded that the pool can be up to 500 000 cubic meters of water in the middle of May . The company 's announcement on Wednesday that the amount of water the pool is a little more than 400 000 cubic meters. According to the company , it is close to the normal to the required amount of water . Remaining excess water must be removed from the end of August . The drop out of the water will decrease According to the company Talvivaara area ulosjohdettavien of purified water flow is reduced when approaching the summer because of the number of spring melt waters begin to decline. Talvivaara out DETERMINATION water is linked to the nearby Rocky River flow . The company has received added the southern direction varoaltaana work Korte pond behind the dam, the free volume . According to the company Korte pond dam has a free volume of about 1.5 million cubic meters. The water level has fallen to last December's rainfall situation after up to two meters. The company insists that even if the water is in the range of stock lots and will be up , the waters are safe places . Also caused problems in the past biokasaliuotuskierron varotilavuudet are at a good level , says the company blog. Centre for Economic Development , stating the number of the day Kainuu ELY Centre Head of Sari Myllyoja finds that the threat of penalties or määräämättömyys explicitly state inspection. - Fixed date , ie May 15, Centre for Economic Development to inspect the situation in the pool. If the relevant conditions are met , a fine thing is dismissed. The committee did not make any decision at the time . If the situation is such that the conditions are not met , then the case becomes a separate penalty payment of charges , says Myllyoja http://yle.fi/uutiset/tal