If you read through Aim rules for companies then you'll have the answer to your question. In short, a company can only cancel the admission of their securities from Aim by giving 20 business days advance notice from the event and the action is conditional on 75% shareholder approval at a general meeting.
Under Aim rules (2018) a company that wishes to cancel the admission of their securities on the exchange must give at least 20 business days notice prior to the event and the cancellation is conditional on 75% shareholder approval at a general meeting.
I think its likely Fortune will want to broaden the shareholder base with a move to the main market as its clear aim isn't reflecting value for them but that is just my personal opinion.
RE: IG Investor- John Meyer Interview17 Apr 2020 15:59
Interesting he notes that Bushveld have cash reserves to last until September should the lockdown last until then. Clear indication we've got great liquidity to weather the storm and I assume that timeline also doesn't account for the fact that orders are still be shipped out to customers thus generating more revenue and more headroom for our cash flow?
Great RNS, massively shows the direction the company is moving to and Ms Mokgatle's credentials should hopefully expedite the company's long term vision. It's very interesting she was deputy chairperson of South Africa's National Energy Regulator at one point, presumably that has given her quite a few contacts that could come in handy towards steering the country towards a vrfb revolution?
Thanks Alfa. Even to the untrained eye the constant attack on the sp looks absurdly suspicious, especially when other miners haven't failed nearly as badly. I have mining stocks on my watch list that are still in the exploration phase that haven't been attacked to nearly the same degree as Bmn!
It does make you wonder who on earth is selling at these levels. Aside from 13/03 it's been nothing but straight declines since 05/03, which presumably rules out traders. Those with long positions also presumably wouldn't want to sell now because quite frankly, what's the point? Our assets must exceed the value of the mcap by now, the sp activity had gone beyond reason.
No one knows what is going to happen to the global economy and to the health of individuals over the coming months. I can't say anything that BBN hasn't already eloquently expressed, all I will say is that I feel more comfortable to be invested here (even though I am sitting on a paper loss of 50%) than any other stock I can think of. To paraphrase lord of the rings, this is but a passing shadow, but fortune my friends, fortune will bow to no man #greenenergyrevolution #bushwhackers
There's some interesting data from the Guardian on today's markets, apparently 160bn has been wiped off the index today with shares plunging 30% in three weeks. Just goes to show what's happening to us is not an isolated case and is linked to macroeconomic circumstances beyond our control. I agree that taking the medium to long term investment horizon is probably the safest way of weathering the storm we currently find ourselves in.
Well I'm personally sitting on a paper loss of c.50% of my holding, with an average of 19.8. I thought 19.8 was a great average for this share 2 weeks ago and that view hasn't changed. You need nerves of steel to survive in the markets right now. All one can do now is focus on the fundamentals, which I find pleasantly reassuring in the case of Bushveld.
Agreed Alpha, oil as a sector is facing profound existential challenges this decade. This naturally plays into Bushveld's wheelhouse in the context of vrfb and the rapid shift to carbon neutrality may accelerate the take up process beyond the timeline that even the most optimistic of investors on these boards were thinking.
Today's sp may give some investors nerves as the world once again capitulates to virus hysteria, but its extremely important to differentiate between the obvious sentiment driven panic selling the world is currently seeing and the type of selling that occurs because a stock has poor fundamentals. Bmn is not a company that is struggling in the midst of a dying sector, it is clearly primed to take advantage of this brave new world we're all moving into. So sit tight my friend, this rollercoaster is gonna get bumper before the end but eventually we should all get that photo finish (re. decent share price appreciation) that we know the company is deserving of.
Indeed Bones. The shorters are de-rampers have never understood the fundamentals of matd and are gonna to miss out on the significant rise today. For everyone else who did their research into matd, well done. Today is your day.
Don't engage with them Pro. Anyone with two brain cells can tell this is a great RNS, confirming everything that Matd have understood about Heron and will, as we have long suspected, be the well that transforms the company.
11p would mean only a 69% rise from our current sp. Whilst it's possible that will be the end of trading sp on a heron strike, I personally believe heron will send us to c. 20p on discovery. The difficult variable here is sentiment and bullishiness could easily send us on a 200% increase given that we own 100% of the license.