This may be of interest; discretionary change in rules for suspended AIM companies due to Covid-19:
Suspended AIM companies
Currently where an AIM company has been suspended for more than six months, pursuant to AIM Rule 41 the company’s securities will be cancelled. We appreciate that, given the logistical challenges during this period, further time might be required to resolve the reason for suspension. Accordingly, we will be using discretion to extend the period to 12 months for any AIM company that has been suspended between 30 September 2019 and 1 July 2020.
March 25 (Reuters) - Palladium prices rocketed on Wednesday, on track for their best daily gain since 1997, as a lockdown in major producer South Africa exacerbated supply woes, while gold inched up as markets eyed U.S. stimulus.
Deficit-hit palladium rose as much as 24.8% earlier and was last up 19.3%, at $2,304.74 an ounce, as of 1:51 p.m. EDT (1751 GMT).
“Palladium is soaring on heightened supply concerns ... (South Africa’s lockdown) will make an already tight supply situation much worse,” said Edward Moya, a senior market analyst at broker OANDA.
The auto-catalyst metal rose 10% in the previous session on concerns of mine closures, though South Africa said on Wednesday it would continue to process platinum group metals during the lockdown.
Now if you were a major Russian producer with a local asset stuffed with palladium just down the road, what would you do?
The price rise “looks like short positions squeeze on the sentiment from South African mines closure. ... (A) 21-day mines closure would mean 2% global supply cut for 2020, while the magnitude of car sales drop for the year remains unclear,” Dmitry Glushakov, head of metals and mining research at VTB Capital.
Public Joint Stock Company "Mining and Metallurgical Company "NORILSK NICKEL" (PJSC "MMC "Norilsk Nickel", "Nornickel" or the "Company")
NORNICKEL ANNOUNCES THE WITHDRAWAL OF RUSSIAN PLATINUM FROM THE ARCTIC PALLADIUM PROJECT
Moscow - PJSC MMC Norilsk Nickel the world's largest of palladium and high-grade nickel and a major producer of platinum and copper, reports today that Russian Platinum has notified the Company of its decision to terminate the negotiations regarding Arctic Palladium JV and to proceed with the development of the Chernogorskoye Deposit and the southern part of the Norilsk-1 Deposit on its own. This decision owes to UC RUSAL, one of Nornickel's shareholders, not issuing due corporate approvals to Nornickel to participate in the proposed joint venture.
The Company's management has commenced reshaping its partnership with Russian Platinum considering means to support the projects of Russian Platinum and its potential partners. In particular, Nornickel has entered into discussions with Russian Platinum over provision of certain services and resources, which will be required for these projects as well as a potential off-take at market terms of the products to be produced from the Chernogorskoye and the southern part of Norilsk-1 deposits. Although less attractive for Nornickel, this format of cooperation should still facilitate an increase of supply of platinum group metals (PGMs) in a long-term perspective to the market running a structural deficit.
"Nornickel's management has always considered and still does the Arctic Palladium as a promising Tier I asset able to meet the growing PGM demand. In spite of the current and, we hope, temporary turbulence in the commodity markets, we maintain a very positive view on palladium fundamentals, which should remain strong in a strategic perspective. Being a responsible palladium producer and the market leader we intend to develop a long-term operating and commercial partnership with Russian Platinum," said Sergey Dubovitsky, Vice President for Strategy and Strategic Projects at Nornickel.
This announcement contains inside information in accordance with Article 7 of EU Regulation 596/2014 of 16 April 2014.
Full name and position of person making the announcement - Vladimir Zhukov, Vice - president, Investor Relations.
oNCo I received 4 emails from Co House regarding the address updates, was not going to post anything in case it sparked the wrath of several posters who have had a pop at me over posting factual information previously. Interesting that Mr Glogowski has a correspondence address in Palm Beach, Florida whilst Mr Aaron Douglas King lists his as a semi-detached in Ashton Under Lyne Still expecting a good result for all of us here Chris
If we are to return following a RTO onto the main market, do we have to de-list from AIM first? Once we are past April 7th then we automatically de-list, how long can we remain as a PLC without joining another market? Chris