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I very much hope we get news on this, and the suspension lifted, this week.
Got until 16th March to appoint a new NOMAD but hopefully no need to take it to the wire.
The sooner the better I agree, but we still have some time in hand. I'm expecting next week some time. There's bound to be paperwork to be sorted and signed off.
I really hope we receive an rns this week with some kind of an update.
On Wednesday 11 October 2017, it was announced that ZAI Corporate Finance Ltd’s Nomad status was to be removed after it failed to meet eligibility criteria under AIM rules. This gave the companies to whom ZAI was a Nomad until 19 October 2017 to appoint a new Nomad. The companies which failed to do so had their shares suspended until a new Nomad was appointed. Consequently, these suspended companies had until 20 November 2017 to appoint a new Nomad or have their shares cancelled from trading.
Of the 11 companies that confirmed that they were affected, three companies (Grand Group Investment plc, Northwest Investment Group Limited and Alpha Returns Group plc), failed to meet this deadline and subsequently announced the cancellation of their shares on AIM.
In 2017/18 Pursuant to AIM Rule 1 where the company has failed to appoint a nominated adviser (14/71 companies—20%) delisted. So the odds are pretty good that we can appoint a new nomad in time.
Well, that's the most positive one for a while. Let's hope they can get a new nomad sorted asap, and get the suspension lifted. They are making the right noises in that direction anyway.
Just now
started at 9am.. wonder when we'll get news
Actually, on reflection, Schrager's closing statement seems to tacitly acknowledge that they won't get delisted. They might have a new nomad lined up already. They've certainly had enough time, what is it, over three months since they requisitioned the EGM. We'll find out tomorrow.
Get Cracking Guys,
AIM Nomad s - 21-Feb-2019 18:08:08
Nomad name
Allenby Capital Limited
Arden Partners plc
Beaumont Cornish Limited
Cairn Financial Advisers LLP
Canaccord Genuity Limited
Cantor Fitzgerald Europe
Cenkos Securities Plc
Citigroup Global Markets Limited
Davy Corporate Finance
Deloitte Corporate Finance
finnCap Ltd
GCA Altium Limited
Grant Thornton UK LLP
Investec Bank Plc
J. P. Morgan Securities Plc
Jefferies International Limited
Liberum Capital Limited
Macquarie Capital (Europe) Limited
Nplus1 Singer Advisory LLP
Numis Securities Limited
Panmure Gordon (UK) Limited
Peel Hunt LLP
PricewaterhouseCoopers LLP
RFC Ambrian Group Limited (through its authorised subsidiaries) trading as RFC Ambrian Limited
Shore Capital & Corporate Limited
Smith & Williamson Corporate Finance Limited
SP Angel Corporate Finance LLP
SPARK Advisory Partners Limited
Stifel Nicolaus Europe Limited
Stockdale Securities Limited
Strand Hanson Limited
W.H. Ireland Limited
Zeus Capital Limited
Never had any intention of going to the EGM, no flights booked ! Now lets hope the new BOD can turn this into a mega success for all of us GLA
They waited until almost the last possible moment. Wish they'd gone before that 'statement regarding share price movement' on 29 Jan, when the sp was recovering as it became clear they couldn't follow through on any of their threats. Still, hopefully new nomad tomorrow or very shortly and the recovery can begin. Shame we've kept paying Allenby for nothing up til today. Well done board, we're short of working cap, dontchaknow.
before they were pushed then
So Adler will win, let us hope they live up to their promises.
Good news re share listing from Adler and the bod won’t travel as emptying there leather studded desks great news
Adler Impex. Interesting read.
http://uralsenergy.com/archive/ADLER-circular1802.pdf
Especially as it's a transparent excuse not to be there when they get the boot. And have to pay for themselves to get home. Shabby beyond belief. They should have stepped down. They must know by now that they have lost.
I will read the note from the prosective new Directors.
Sick and tired of listening to the current board keep going on about the current working capital position of the company. I’m glad we are currently suspended otherwise the tone (again) of todays rns would have knocked down the sp even further. Can’t wait until Friday to confirm the current bod have been ousted.
I coukd speculatem but I haven't got a clue. It's a bit fishy though. Why didn't they resign over the other, much much larger, so-called unauthorised transactions?
Can anyone think of a reason why SK would engineer the 75k error so Allenby Resigned ?
Or could the current BOD have sent it and Kononov returned it ?
You might be right, but the lesson is still in progress. Let's see where we are next week before starting to draw any conclusions. You are kind of pre-empting what will unfold.
1. Do not invest in any AIM share that has its operations in Russia.
Examples like this ought to be more highly publicised to warn people of the dangers of investing where there is such poor corporate governance.
They have been desperate for Allenby to resign from the time they got the EGM requisition. And they have attacked every share price recovery. I guess this way they have avoided the extra humiliation of seeing the sp rally as the day of their defenestration approaches.
Do the existing bod not have a responsibility to appoint a new nomad as soon as possible ? They didn’t even comment on starting the search for a new one. They won’t lift a finger for this company good riddence imo.