RE: Vote5 Jan 2022 20:05
They were suspended as they did not produce annual accounts on time. They remain suspended due to relationship with the operating subsidiary Lekoil Nigeria as per rns 27/10/21;
'· Noting that the Company's shares are currently suspended from trading, the Company is in the process of clarifying, for the purposes of the AIM Rules, its relationship with its operating subsidiary. It is doing this as a matter of urgency and will provide updates on the suspension when it has further information.'
My basic understanding is that there is no 40% of monies coming from Lekoil Nigeria (Olekan) to Lekoil plc and as such I guess Lekoil plc is unable to operate as a going concern. Lots of other issues re; Olekan loan default, Metallon, etc. Phew, what a mess. GLA, Dan