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I see on LSE chat investors are getting excited about a relationship with MASDAR, well they shouldn't be.
DKE is categorised under Real Estate therefore it cannot move into the energy sector without a prospectus being issued. Furthermore it has not held a GM since July 2021 which is over 18 months ago therefore a GM is due before any prospectus can be issued. They may decide to hold the two together but time is not on there side. A company has to give 21 days notice for a GM.
The shares are due for cancellation on 30/04/23 as a result of being suspended for 6 months. Therefore notice for the GM/prospectus has to go out on or before 09/04/2023.
There is an update on their website dated 03/02/2023 regarding progress on the audit and year end results yet they never released it as an RNS when it was clearly RNS material. I think the reason is that they were simply playing for time to silence the barrage of emails they were receiving from concerned shareholders.
The trouble with the audit/results is that their publication alone will not lift the suspension as the company without a cash injection or a means of raising cash is not a going concern. The FCA will not lift the suspension if the company is insolvent which it is at the moment. Trading whilst insolvent is an offence under Section 214 of the Insolvency Act 1986.
At this juncture in time I am inclined to think they have come to the conclusion it is not worth the financial costs of trying to reinstate the company on the AIM and will therefore allow the suspension to lapse with a due cancellation of the shares on 30/04/2023.
Obviously my views may change on any further announcements from the company.
Their - possession / ownership. Their popcorn
There - place e.g. a cinema. I am going.. there...
Cicc capital living it up in Mauritius; Halo Oil - the most patronising and contemptuous of replies from their CEO after they delisted with no RNS; Africa potash; Xcite oil which never actually had any oil when it went to £2 /4 a share (more than BP,) etc etc
They have no shame. Corporate robbery enabled by the useless regulators. That's why the Americans call the AIM a casino
Even more shameful that this is on the main market
So you have yod is repeatedly. Why do you feel the need to repeat it endlessly?.Since as I've said most of us anyway expect it?? You're hardly saving us from the trolls / rogues since the company is anyway already...suspended.
Chaiwala we're not living in a fantasy land. I for one and I expect many others fully expected to lose all out money when the company suspended (as I've seen it many times).
But the fact is that there is - as yet - no formal announcement of delisting.
If you have inside knowledge you know you shouldn't be posting that. And if you do and are what is the purpose? Since, as I say, most of us have written off the money anyway. Are you just enjoying out misfortune because you are so clever?
I have searched the London Gazette in which according to Cos House any delisting would be published (a notice to shareholders is also required) and the only notice is in relation to the change of registered address on 23/1.
No delisting notice (yet)
It’s interesting to see Real Good Foods recovery today. They fell to 1p on 29/9 after a trading update and declaration of 2.5m of debt (Duke has 2m) albeit they were still a going concern and didn’t suspend.
Today - after 7 weeks of the share price flatlining - they have surged 100% after "The Group, with support from advisers, is in advanced discussions to secure an additional £2.5 million of funding to support the restructure. "
So it is possible if the Board is genuinely working on behalf of its shareholders…
If you manage to do that Michael (and tbh I feel sick at the prospect of my possible loss which is a 100th of yours, never mind yours) - and please let us know what we might / can do to support you - it'll be a victory for the man over the corrupt corporation.
And time enough as this is now our time. If only enough would wake up and take their power.
Meantime, so people are aware of what we are dealing with - the corrupt, arrogant and patronising that are the boards of these small cap cos and the toothless FCA that does nothing about it, this is reply from so-called CEO (i.e. fraudster as all these companies take your money on false premises), Stuart Bromley back in 2015 from his pad in... Mauritius:
"bromley@ciccapital.com
To: xxxx**********" >
Sent: Friday, 23 October 2015 at 14:24:47 BST
Subject: Re: : CIC Gold
L***a,
I made some comments below in red.
Now you invested and you can not hold me responsible for your investment decision. What I can say is that I will not see shareholder loose money and working really hard to ensure that.
My view is never sell CIC Capital Limited shares as the shareholder will get share in the client companies like CIC Gold. Some of these will be most valuable.
So contact me again in two weeks see where we are and I might personally buy your shares.
Kind Regards
Stuart
The 8k of shares still sit on my account - they were hyped - just like Duke and then suspended - worthless, untradable.
Bromley - note the poor spelling ("will not see shareholder loose money") - never did buy out my shares himself nor ever correspond again.
I think the word is shafted. "Caveat emptor" - get out of jail free for us, ha ha - buyer beware. "I can not be responsible for your investment decisions".
Except these are not investment propositions are they? As you say they are scams, frauds.
All enabled by the London stock exchange, the no due-diligence nomads and the gravy train, toothless FCA .
That hardly ever works Michael / Radhika
What you "should" have done if you don't mind me offering advice is top slice /take some of your investment from prem and put in here. So that then now prem is rising you'd be offsetting Duke losses. The if / when Duke re-lists you'd be in double win situation. Or are least at break even
This is only offered from bitter experience. And where mind set comes in. As If you're selliing all out of one and throwing all your eggs into one basket, you're getting into gambling territory (remember another maxin - never put all your eggs in one basket). You'll end up chasing more and more losses. You may have a couple of wins (having thrown in more money - "double or nothing" to use gambling speak) along the way that makes you think you're winning but doing that oner and over ultimately means losses.
Anyway I don't keep hammering home the point. Just trying to help others avoid the pain I've been through.
What's concerning now is that if Duke do relist having filed accounts, given the poor comms and the debt there'll be a mass rush by PIs as people will have lost confidence
.
What don't I have any idea/s about?
I may not post much but that does not mean I'm not invested and not reading this board / feed.
So no need to be rude to either Michael or to me.
As I say we are not answerable to you - but can help each other. But the board is