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And there will be a torrent of shorts forced to close at a higher price. Win win
Let’s see ;-)
If …… NOT when
What could go wrong? Dih!
No confidence?! Check the price of the SP the last time the company suspended to what it is today. When the PSC is announced there will be a huge amount of buys as soon the market opens.
Had 4 additional months. UPL delayed the 31st of December audit and managed to amalgamate it with another audit. At best this is total utter incompetence by UPL and their auditors
Thanks Art. Didn’t know that.
Thank you for that typically arrogant reply on this board. It’s simple. Why does a delayed audit mean suspension and what does it actually mean.
I’ll ask someone else and thanks 🦃
Utter garbage !!
Not poor form at all.
The audit was for a longer time period than usual..
Easy to get towards the end and realise more time is needed to complete the process..
They would've tried to get in by the deadline, but they haven't succeeded.. nothing untoward about it all
The comments about shorter are quite humorous.. cos whoever is really short.. is kindof fekd.. if upl announces progress on psc or jv in the meantime :-)
It is indeed a complete nothing event. Not sure if the 'poor form' is correct. Is it the BoD or Auditers who are to blame ? More likely the latter who are independent and have compete control over the process.
Either way it is only those with 'open positions' who are under threat. My guess is that when the audit process is completed, the BoD will immediately announce the PSC or some other material advance ( eg. the JV) to offset any negativity and panic from ignorant so-called investors
This goes two ways. The market will love it if some actual material PSC news etc comes before suspension lifted or hate it if lifted without material news. At lease it means the incessant attacks by envious folk on x etc are now ineffective in their goal
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