Member Info for Chauvelin

the pro board sounds like a very good idea to me . I'm not volunteering though ! This board will probably dissapear just after the 29th I imagine . And the website for PRG if they keep it , or ringing them up will be the only way to attempt to find out what's going on thereafter I suppose. Even though people get a bit childish and irritating on these boards sometimes , they can be useful and informative.

I agree HOLEEFOOK ! Great shame ! And we all slightly naively fell for PMs passion for the project ! If they genuinely are about to get the finance , and actually secure it very soon , there is the possibility of them listing on a different OTC. Market I suppose , whilst they apply to AIM . Unless by some miracle they have just done a sneaky placing , got a nomad and an extension of the suspension. But I doubt they have pulled anything like that off , and if they had , you would think they would not have broken up early for their holidays is my thinking. So it's De listing and all the hassle , expense , time and uncertainty it takes to recover from that I'm afraid ! It's still all down to the financing , as always in these situations !

Incidentally, there is nobody in the office today to answer any shareholders concerns at this critical time . The receptionist says they are on holiday and nobody has been in at all this week . No doubt , some on this board will somehow attemp to spin that into a positive ! To me , it looks like they have given up ! And we can only await the final RNS .

Clearly they are going down that road , that is why I raised the costs of listing etc ! I personally think it will be at least £300k , because that is simply a matter of fact , and can very very easily be verified , ! Maybe it will be more or less , depends on the deals they do with accountants etc . It will probably have to be borrowed from somewhere. It obviously has no bearing on us being delisted , it is simply an expensive consequence ! To lose your nomad through their resignation is embarrassing, not to get another one on board in time and to be Delisted is the ultimate humiliation for a listed company in my opinion ! So I'm naturally extremely disappointed with their performance , and to be accused of making up the costs and time of relisting by someone who thought yesterday it was about £20k and now says it's only a couple of hundred thousand , and I've suggested £300k as a guide , suggests it is not possible to have a grown up or sensible discussion on this board , with regard to their future options , assuming they are forced to go private tomorrow and our shares are cancelled !

We have until midday on Thursday , thereafter we have no chance to avoid being De listed . That is the reality of where we are at ! That's why it's worth looking at the costs of getting back on Aim !

The total average fees on an AIM admission depend on the nature of the company coming to the market, which affects the nature and level of due diligence needed. The base level for admission costs would normally be in the region of £350,000 - £450,000. On top of these fees, the company will need to pay the broker’s fees for raising funds (unless the AIM listing is by way of an introduction), which may be in the region of 4 – 6% of funds raised. The key adviser that a company needs when seeking an AIM listing is a nominated adviser (a ‘Nomad’). We would be happy to recommend Nomads to you and you can find a list of the Exchange’s approved Nomads on their website here. One of the duties of the Nomad is to confirm to the Exchange that the company is appropriate to be listed on AIM and that the requirements of the AIM rules for companies and Nomads have been complied with. The Nomad will carry out due diligence on the company and its directors to assess whether or not they would like to sponsor the company and to ascertain whether the company is suitable for an AIM listing. A company will also need to retain a broker (although many Nomads will also act as broker). Other advisers who will be involved in an AIM admission are lawyers to the company, reporting accountants, lawyers to the Nomad, public relations advisers, printers and registrars who will administer the register of members. We can give a company an indication of likely costs levels, which in part depend on the nature of its business.

Philphil , please have a look at a site like www.withersworldwide.com or just try googling ' cost of listing on aim , or something similar , look at say ten different stockbrokers guidance , and then you will know ! You shouldn't always believe just what you want to believe ! Or perhaps you can speak to the company and simply ask them what they anticipate the cost of relisting will be ? I guarantee it will not be less than 300k . Not difficult to check out at all , take a few minutes .

Big bite , the fees you have posted are the Admission fees charged , sadly the real cost includes endless accountancy reports and producing a qualified prospectus that PRG will have to pay their accountants to produce , if you look at the average cost for getting in to Aim , which you will find dozens of examples of on the web , and plenty of websites that quote 350/450k as the base cost before the various bolt on costs that are being quoted on this board . 5 minutes with Google and anyone interested will see for themselves .

It's an expensive exercise getting admission to AIM. , the averaged base cost is 350-450k plus the annual fees , and you have to produce a complete prospectus , plus all the accountancy reports , we may get it done at the bottom end of the scale , but the finance will probably have to be in place . The absolute minimum requirement is for 12 months of running costs to be proved to be available.

I think you are just looking at the annual fee payable for the actual listing , not the costs of obtaining the listing , it will not be less than 300k and could be a lot more .

The listing costs will be anything between £300-500k I imagine , and it will take 3-6months to get . I doubt they will embark on that route without finance in place , and I don't think they have that spare cash anyway , even if they wanted to .

Noujay , I agree it is unlikely that another buyer will be able to get approval from Lesotho govt quickly so we have a chance to still get it , and probably for very little or nothing . Lesotho will probably want to see evidence of the funding before giving approval , and not rely on promises as they did with us , but they will have learnt their lesson with us , so will possibly want concrete evidence this time around , so any other buyer may now have to have finance genuinely in place . So if in the meantime we get what has been promised so many times re the funding , we are in with a good chance of securing it , assuming we haven't lost too much credibility from all the over promising and missed timescales we will have given them .

I admire your faith Philphil ! To believe they are still working , despite them saying to their receptionist they are not , and now on holiday . Let's all hope you're right to still believe in them to that extent at this the eleventh hour ! A last minute RNS saying they have got an extension of the suspension, a nomad on board , and the funding in place would be the dream ! But sadly , I don't believe in father Xmas , and think the overwhelming balance of probability is that we will be de listed and just continue trying to get funding and hope Mothae doesn't get taken by another party meanwhile.

NO , they obviously don't have to be in the office to be working !! But they probably wouldn't tell their receptionist that they are now on holiday if they were actually working !! This is not complicated !!

Philphil , yes I KNOW they were in last week as I also spoke to them last week ! My point is that they are NOT IN THIS WEEK and that is clearly not encouraging is my entire point !! Enough already on this , as I don't think I'm getting my point across at all ! Or blind faith and optimism is at play ! Anyone who thinks they are beavering away still , should perhaps just ring their office !

They may wait I suppose until the day of the official delisting until releasing an RNS , and they may well go back to the Mayfair office to field calls from concerned punters then I imagine . Although it will be a private company then as opposed to a quoted company , so who knows how they will operate !

Philphil , I wasn't talking about their pr company, I was talking about Simon Retter the Finance Director and Hugo Phileon , the two PRG employees who are in the Mount st , Mayfair office of PRG , and who are clearly NOT working as they have told the receptionist that they are on now holiday !! I suggest you call and ask her rather than carry on under the illusion that they are 'obviously' still working ! As it is self evident that they are not , which has 'obviously ' worrying implications, which is the point I was making !

I meant out of order not to be available at all this week , at such a critical time , when shareholders will want to know what is going on !

Philphil , are you saying you spoke to them this week ? I am told they haven't been in at at all this week . I agree they were in all of last week which seems a bit out of order to me !

Technically it's the 29th I believe that the actual delisting officially occurs , although we only have till 24th to do anything due to Xmas . According to the receptionist at the office there has not been anyone from PRG in the office this week, and she was told they had left for their holidays . So a pre arranged RNS must have already been prepared and ready to go very shortly . It's not rocket science to know what it will probably say !