The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
It says delisting on the 8th in the results. Maybe the option they'll go for is to delist, the pick up an asset to develop, then list on another exchange. That would make sense and be less restrictive than a rto (there's plenty of asset around). Would be a horrible wait for people holding though.
You'd certainly think they would want to keep the listing going. It's becoming more and more difficult to create this type of listed company. Strange just to give it up, but that's the way it's looking.
I think it'll probably be delisting and a "we continue to evaluate options" statement. Which would make no sense, as a listing is a strong point in doing a deal. I hope it's one of the other options, but it's get to the point where people might have to consider how they are going to get some money back.
Well the major shareholders are all nominee accounts, so it's probably down to loads of pi's not wanting to take action. Maybe it's spread over quite a few and no one owns a large enough amount to feel they can effect things. Frustrating, but I don't have a huge amount in this.
Good point. We'll have to see what they release in the next week or so, but people might have to start looking at their options. I just can't believe the larger shareholders are giving them a free pass. I feel in any other AIM share like this (cash shell) there would be efforts to replace the board by now.
Would be so easy for them to either make an investment (take part in a placing) or return cash before it delists. Worrying if they think delisting is a better option. Have to wait and see like everyone else. Not confident they'll do anything now.
That's the problem really. Pi's are just sat hoping for the best, while they can just let this situation drift for ages. You'd think there would be someone with a large shareholding that doesn't want to see their money drain away.
Unfortunately there isn't any big shareholders to force them to do anything. It might be a case of finding the private investors that have big holdings (they must be somewhere!) and group them together, if that is possible. Might be the only way to see a return.
The NWIG cancellation RNS was out first thing. Just not showing on this site. So Monday morning was the deadline. All the ones that missed the first deadline were the same. No info till it was a done deal. Not good at all, but it is AIM.
Just think it would be very strange if Tang did all that with GCM, particularly raising money via primary bid and all the while GCM's major shareholder (a company he is chairman of) was going to be delisted the next day.
A lot of GCM news released after hours. Final results, Appointment of nomad and placing. Looks like Tang has been pretty active on the Adviser/broker side of things. Actually pretty confident we'll get something Monday after seeing that news and the CLP announcement earlier.
Always get this kind of stuff with companies in this situation. No one really trusts directors at this level unfortunately. So it's an easy dig to just suddenly just brand them all as con men. Have to remember 2 of them are still on GCM the board and Tangs main reason for taking over was to develop Phulbari. See what the say tomorrow.
Well we'll see what they say tomorrow or Monday. I have no doubts that if any of the other companies have to delist, they will also say they've made or about to make an application to trade on NEX (or another exchange).