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Much appreciated Stock 👍
Stuartv,
I think you should also look at this bit from the same RNS:
"Joint Venture/Farm-in Agreements: Significant progress in discussions with potential partners of strategic interest regarding potential Joint Venture/Farm-in Agreements. Letters of Intent have been signed; and discussions with additional interested parties are ongoing."
On your question "Would anyone know when such a period of exclusivity would arise", that would be once the company have narrowed down the "potential partners of strategic interest" to the last one or two preferred bidders, at that point every other bidder has been rejected for one reason or another and they can talk exclusively to the one or two companies depending on how many they want to allow to farm in.
In the RNS dated April UPL referenced the following:-
As the company continues to receive unsolicited Joint Venture/Farm-In approaches, the Finance & Investment Committee will continue to review interest as appropriate, until such time as a period of exclusivity is entered.
Would anyone know when such a period of exclusivity would arise. Wiser owls than me on this board but my guess would be after the PSC is awarded. Any thoughts would be gratefully received.
"Auditors were just doing their job." or not doing their job it seems, otherwise they'd have got the Audit finished on time!
Can't blame them though, as the sector is so short staffed they are probably all doing 12 hour days and weekends, and still not getting through the backlog.
Agree Auditors were just doing their job.
All conjecture. Not saying it was tactical but as UPL would have been fully aware of the missed audit deadline and subsequent de-list there was clearly scope in the timing of the raise.
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