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I can't believe the auditors would be party to a tactical suspension.
It occurred to me that the Ii’s must have had a wink of sorts. It appears that they don’t want to offload but they’d be pretty p’d if they did.
What are peoples thoughts on the suspension? Is it as stated in the RNS or has it been done tactically? . The fund raise announced 2 trading days before ?
Probably some flippers from the raise....they would have known about this suspension and accounts being overdue.
The new shares will hit the market when we go live again as normal!
If PSC.....JV.......Volumetrics land while suspended then all bets are off and shorts will burn!!
It would never have been Monday as it's a bank holiday. I assume the large trades were the new subscribers dumping them above 3.3, so they make a quick killing .....
Wish I had thought of that one Derek good question 👍
I'd love to hear everyone's opinion on the 83 million shares traded in the 2 days before suspension compared to 5 million a day typically ??
Also - now that the share is suspended will the admission of the new Ordinary Shares from the fundraise now happen on Monday 6th May as announced?
Fair observations guys but I guess UPL have to demonstrate that they have all their ducks in a row and without these prerequisites I suspect that they would be given short shrift by Petros.
To be fair there were quite a few fantasies out there of an early PSC announcement. I estimated April/May but I now think May/June. More realistic language from the Co would help manage expectations. It’s really not helpful to state things like final stages etc when there’s a way to go. It feels like the Co is trying to put more pressure on the decision makers to go their way by putting things in place but that does suggest that they are having to row upstream. Fingers crossed as you say.
We’ve been hoping for months . Still no mention of PSC in RNS .PSC Scheduled til end Q2 , which is as far as the chart goes . Assuming it is to be finalised by end June. But as we know any thing can happen and it’s an IF ,if at all . Fingers crossed .
Hopefully within Month. Since January with no real news UPL has been on a bit of a rollercoaster. Clearly the phrase “near term” was chosen by both parties as it is suitably vague. That said PKF did say that the “the audit was substantially complete” which suggests that we are not talking months. Who knows lots of whataboutry here. Hopefully substantive RNS from UPL first. GLA.
Let's just hope the work streams, joint venture, farmout news is more near term than the resumption of trading near term news is....for the sake of the shorters who are also trapped short term :)
Todays' RNS;
PKF Littlejohn LLP has informed the Company that the audit will be completed in the near term.
Shareholders should note that we are progressing and finalising work-streams related to licensing arrangements and joint venture discussions. We will be updating the market on these developments in the near-term.
It's probably hopeful sentiment, but if you are a holder then you have to stay positive. 🤞🤞
Nidgeyr, I’m looking for some positives here.
You stated ‘this points to positive news over coming days’ can you evidence this statement with some facts or is it just hopeful sentiment from an investor? Look forward to hearing back from you Nidgeyr 👍
Indeed M5Mil, very clever - share price sinking after last raise and with PSC / JV close it was an excellent strategic move by the BOD. This points to positive news over the coming days. Exciting times IMHO
Very strategic suspension request but they have to pull their fingers out and finalise at least a PSC or JV details who they are ..
GLA
Actually the more I think about this suspension the more I like it :))
I wonder if we are going to see Volumetric - JV - PSC all as we come out of suspension or during
:D :D :D :D
If you're right, and I think you are, investors scrambling to buy will force the price up. This coupled with shorters falling over themselves for stock in order to close, should see some rapid escalation in the sp. 🔥
I can see a good possibility that a lot of good news will arrive before the suspension is lifted, and the price moved up considerably the instant it starts trading again, so if anyone has any limit sells set up I'd turn them off, or you may get short changed.
Agree. Schadenfreude.
I hope this stays suspended all the way until we have a PSC/JV and funding terms all agreed so all these folks trying to bring down the company by misrepresenting every RNS can bleat away to no avail.
The RNS states that the auditors have requested additional time, that there are no material audit issues, and that the auditors have informed the company that the audit will be completed in the near term.
StockChecque , your positively is welcomed , lots to be concerned about if invested here . Let’s hope the company delivers on its promises