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It does say, delist or seek a liquidation, in the sentence below the one I noticed. Actually the going concern section is the most informative and interesting part. It suggests no funding needed for the rto company.
Well they're still following aim rules and they're still updating us. After delisting there will be nothing.
On the flip side you might get the 30% to do something, but it's high risk.
The other point is they don't mention returning cash in that sentence (like they promised). Just delist.
It all sounds very similar to what avct are investing in. It wouldn't surprise if that's a private company they own a stake in and that's going to be listed. All guess work though. I'd look more into it, but can't be bothered any more.
Also I think they'll reorganise the shares for the rto. So that shares in issue will change dramatically and the price set. Could get quite confusing to work out.
People have asked them to do that loads and nothing. You have to force them to do it and it's not easy. If it was simple I'd of done it 8 months ago. Maybe they'll add it to the rto vote, but it doesn't look likely.
At least there a new time frame now. Sometime in May. Which obviously means early June.
As for returns, I'd take 0.1p now, to be honest.
Not surprised. How much longer can the larger shareholders around here give them, before they realise they need the shareholder group to get to 30%. Either that or send in a winding up order (I think you need to have a decent holding to do that with BVI). I would give them a little longer now it's gone this far, but it's getting so ridiculous.
The question is how do you get them to do anything other than the rto? I wish we were in the same position as TGR. Just 5% needed to call a meeting and that's got the board there very worried. Actually quite funny to see their response. Suddenly they care! It's what we need here, but how do you get 30%. Is that the only way to call a meeting?
Looking back, he did post a few things, although I'm not sure if they work will BVI. When I looked a few months ago it looks possible, but nothing easy. As far as could make out you need a decent shareholding to wind up with BVI. That's why I suggested doing via the shareholders group.
Fwiw, I think they are going to do this deal, you just have to wait until they completed the work (they're unlikely to release progress updates). I my mind, it was always going take longer than they suggested. There was a lot to do for a company that doesn't do anything quickly.
It is incredibly frustrating though.
You might be refering to the stuff posted around the 15th of Feb (that's when I responded to something like that). It would be better to do it via the share action group. It's a shame some of the bigger shareholders haven't signed up. There must be some out there. Over 50% in nominee accounts, that are usually pi trading accounts. Maybe it's 300+ people, with 2m shareholding each!
Unfortunately, it wasn't even a deadline, it was just an estimate of time. Which means it's pretty worthless as information (particularly with these shares). They'll tell us when it's done, that's all you can say. You just have to look at the last announcement. They signed the deal in Jan, yet left us hanging until the last few days worrying about a delisting before telling us. Pretty much sums it up!
I think people will focus on the conversion level of the new shares issued, at least to start with. Which should look decent, as they're setting the valuation levels, so they could set it anywhere in theory. The problem will be how the market sees those valuations when it starts trading. It's going to be difficult to weigh up. If it happens!
Judging by the other shareholder meetings they will easily get it passed. No one cares enough to do anything else. It's not the greatest and it will likely perform very poorly in this market, but it's better than expected. Returning cash would be better, but how do you force them to do it.