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I cannot see this giving anybody any confidence in UPL. Even if the news does land . They are the nightmare that keeps on giving .
Ok so this a bit of a nothing event, basically just poor form on filing audited accounts….
Exactly. Mr BP really is an idiot - an ignorant one at that !! Clever move by the company ? What a fool !! Clearly unable to read an RNS or understand it !!
Nonsense. The company have requested the suspension because they haven't been able to get their results out on time. The other alternative, if they hadn't requested the suspension, would be to be suspended by the market (FCA).
We have seen articles by well known shorters this week proving they DO exist.
If you aren’t short don’t worry, but anyone who is will be very apprehensive this morning. They have lost all control.
Suspend until big news - Burns the shorts and traders! OUCH!!!
Company requested this suspension too and news is due near term!
Probably to also stop any leaks when PETROS release news and this hits news across Malaysia and Sarawak!!
VERY VERY CLEVER MOVE BY THE COMPANY..............
Companies are suspended if they fail to get their results out by the deadline - usually at the end of a quarter, half-year or full year. This is a market rule. Missing the deadline is usually due to the auditors not having finished their audit and hence finalising the results. The suspension will be lifted when the results are published.
I wouldn't waste your time worrying about shorters. I doubt they exist either.
Just watch them wet themselves on lse today. Such fun.
It is not difficult to understand. Read the RNS for God's sake !!
Can someone with knowledge explain why they have to suspend trading. I’m lost !!!
Also what is the knock on effect of this move ??
Holders locked in
Shorts locked in
PSC and volumetrics were be announced before the suspension (that company requested) is lifted and the shorts are going to burn. Ouch
I was lured in here over the 'dodgy bid' and only managed to offload them recently at cost price. I am happy to sit this out and see if anything materialises in the real world otherwise it is all just one big fantasy. The only surprise is that so many people appear to be falling for it all.
No wonder there was floods of selling yesterday. How can the BOD and Auditors didn't know, that more info was needed. That is 2nd suspension for me today. Fecking what a joke. Where r the rampers now.... Have they jumped of the sinking ship in to dingy and now they are all on their way to UK.
Don't worry mate. When the suspension is lifted you can cry all you want then :) :)
First there was the dodgy bid, then he promised no fund raise. Still no psc and now this audit disaster. He needs to be replaced.
I guess their locked in 🤔
Only IF you're short :)
Only of you're short :)
Not good optics but the Institutional Investors must have been privy to this. They go through every thing forensically.
No one in the firm knew the audit would be delayed or they need more info?
So , so so bad form from the BoD. That's a joke
Audit reasons
Me to…… the placement must give some confidence. Il’s wouldn’t put that amount of money up if they weren’t sure of a decent return? Suppose it depends on what attachment’s were put on it.
.. they have to give us something more concrete..
currently all we have been given just begs more and more questions…
Hope they come good , really do !!
GLA