Member Info for b1gdeano

Nonsense! I have seen plenty of companies suspend and relist within 6 months! The deal is done already so it's just the paperwork to bring back inline with the rules, an admission document etc

The company would not have broadcast the suspension in advance. No company does that when RTO, for the reasons mentioned as most would run for the door and SP would crash. The company would however suspend PRIOR to the transaction taking place. So should have been an RNS to say suspended pending the proposed buyout of trac and resubmission of enlarged company to AIM. They didn't do this so it was a bit of a balls up and the NOMAD are to blame! That being said it makes no difference as they would have (should have) been suspended now anyhow.

I wouldn't call any of the comments this morning negative tbf.

Even if they have all sold out though it doesn't mean anything sinister. We don't know how much they paid to buy their stake in trac. If it was much less that they could sell their Lion for then why wouldn't they if they fancied selling? It doesn't mean they had no faith in Lion as a whole or that it was because they knew it was going to tank etc. I get a lot of people are nervous here, likely first suspension etc. I'm not at this stage overly worried as I am sure at this state they will return to market. I have concerns about the price on entry being lower than close but not worrying too much as newslfow between now and then will dictate that and only then near return can the sp be guessed at. Though I would advise against believing it will relist multiples up. Coming back at or near the SP of close will be fantastic imo.

Possible that they did sell but not conclusive based on trades. Pure conjecture that they have. TRAC was private not listed company so the holders may well have held as they voted the deal through and could see their shares being worth more down the line. After all you can't trade a private company so they were longer term holders than most? Again no proof from me but equally none from you.

The acquisition of TRAC has also likely taken them far enough outside the remit of the original Kolar admission document. They also didnt put it to shareholder vote prior to takeover. Either way NOMAD were rubbish here. Rule 14 has been triggered a few ways really - NOMAD should have seen it.

How could the NOMAD have avoided suspension? If the company wanted to own TRAC they would have had to suspend, but would have done it before not after! NOMAD dropped a ******* here no doubt, but to buy TRAC they would have HAD to suspend. no avoiding it unfortunately. That said I didnt put two and two together about it until the suspension notice, but then I am not the company NOMAD. As soon as the suspension hit I was like " Fu*k of course it bloody would have!" Hence wasnt confused and unsure of what it meant etc on the day. Annoyed I am tied up here for longer than I planned to be, and that I am not sure what the value of my holding will be on return. But apart from that I am not too concerned as this isnt an unusual thing to occur in light of what the company has done. Just wished I had put it together earlier....

Coot - I am a holder like I said, Not LTH like some here and hold my hand up to saying this was a trade for me but got caught with the suspension! None of my comments here have been deramping, but factual which a lot of people dont like. I am neither positive nor negative on the company in honesty but seeing as I am locked in here like everyone else want to put my thoughts across in a way that some may find useful. The suspension isnt all that unusual in itself, just how it came about seems like it was a dropped ball that they got reminded about. Oh well - so long as everything comes good on the news front regarding the mines & goldbloc launch readmission should be relatively painless. They will come back, and hopefully near the SP of close. This does depend upon any fund raise and cost of raise etc. Far too early to be talking about price on entry though. Lets see what occurs in the next couple of months brings on the news front

The reason they cant find Lionsgold on Companies House is because it is not incorporated in the UK and never was! GoldBloc LTD is what was known as TRAC Technology LTD - As in a trading name of TRAC - the fact it said "private limited company" under it on companies house should have told people it wasnt Lionsgold! Listed companies are "public limited companies" - Lionsgold is registered in Guernsey and can be found on their equivalent to companies house. Twitter - bunch of mugs talking like they know what they are on about! NEVER use it as a frame of reference for anything! Unfortunately too many people invested here seem to do no more research than "Twitter told me" and lack understanding of how the market works.....

Anything that would be deemed price sensitive still needs to be RNSd regardless of suspension. We are still bound by market rules.

CP attending would do nervous holders some good I think, and great PR either way. Suspension isn't unusual when performing an RTO, in fact it's necessary. The only unusual thing is the timing as should have been done prior to the deal being done. So someone slipped up and my finger goes to NOMAD as that's their job to keep the company compliant. The NOMAD has either caught up and done their job and advised they need to suspend or the regulator got wind and investigated and tapped the NOMAD to tell them to suspend. It doesn't matter why they have really it needed to be done. They will return to market as soon as they can get everything in order. Far too early to talk about opening SP as at this stage there are lots of things that can affect that outcome good or bad.

If they relist on AIM? You want them to bloody well relist on AIM! That or main market. You don't want them not listing at all or changing exchanges from London. The MMs will act accordingly with the price of any raise. If there is one then it will open at or near the placing price. If there isn't it it will open around the close depending on news between now and then. Great news potentially open higher. Bad news open lower. Not much more to it than that.

Very poor of the nomads and naive of the BoD. But if anyone is to blame it's the NOMAD. They are paid to advise to board on such matters and ensure they comply with the rules! For them to miss that this may constitute a RTO is very poor and they should be replaced as NOMAD.

Now that's deramping, not what I was saying! They will need a raise to return that's forgone at this point unless they acquire finds via other means with their other investments. But they will relist. Worst case here is the placing is at a big discount but do long as positive news between now and then can't see it being too bad.

Thats why I said between 500k to a million depending on things as thats about right to list. I think it will be in the middle as most of the work is already there from before, but it isnt cheap. Oh and where did I say i wanted it to fail DJ? I dont as I have bloody money here you fool! Is it because i used the term breach where it would have been better to use "non compliant"? If so I apologise for confusing you. They are non compliant. They will be compliant when they come back, which they will. So no failing yeah?

Which means the cost involved is much higher than 18k. Can't be bothered to explain myself to a board that doesn't know what the hell it's on about. That post stix40 lays it out clear as it can be. Maybe people want to investigate the cost of a new admission to AIM? It's more than the admission fee! As i said the company is effectively winding up and listing fresh. There will be a placing unless they can find the money elsewhere, maybe sell down an interest in their mines etc. Also any good news on the multiple things expected will help here in getting a good price for any raise. I'm not ramping or deramping, just saying it as it is. Clear very few here have been in this situation before. I hold here and entitled to post, but won't bother until the board becomes more civil, gains a better understand of the situation and less defensive. Great weekend all.

Call me what you want. We will see who is right in a few months. I have money locked in here too. Though this isn't NY first situation like this, whole it's clear it is for most here.

The fee is a lot more than 18k after an RTO. Broker costs, solicitor costs etc. They are effectively winding up the company and relisting a new one in its place. As i said before it's now a box ticking paperwork exercise and nothing that unusual apart from it usually gets suspended prior to the takeover! Clear to see a lot of people not understanding what is actually going on here.

The reason they suspended is they are not on compliance. It's there in the RNS! And of course they will need to place! They can't afford the resist cost at between 500k to a million.

It doesn't say the word breach but I used that term as that's what in effect has happened. They have been deemed to have fallen outside compliance of rule 14, which means found in breach of it. Don't worry about the wording I used. They should have suspended before making the trac offer really and the Nomad has been poor not spotting it. However no doubt they will come back soon enough to market once they complete all the necessary documents and hopefully with a lot of good news in between to help with the inevitable fund raise that will be needed to return to market, of which I would guess they are likely to raise about 2million to pay for readmission and operating costs for another year while getting on feet. Shouldn't be too bad of they do it at or near the closing sp.