RE: Re-listing soon ...3 Jul 2025 08:42
Main thing is, how the target company see things, they want to bypass the full IPO scenario, cost of events, advertising and the long process to get to market, the RTO is effectively moving to the final two steps of an IPO, once agreement reached by the two companies (target/shell) That is often the long wait , for them to finalise how it's going to happen, structure of share swap/new issues/cash? to get it done.
FCA does not do we plan to, it has zero interest until a NEW prospectus for the newco is submitted to them, provided all in order fist time, this approval can be as little as 2 weeks, if not FCA will just keep requesting the additional information, until all is good (more delay company fault) Once approved we move on to application to commence trading on the London Market, this again if all in order, is a statutory 10 working days (2 weeks)
So if all doc's in order, the main bit can be done in a Month or less, waivers can be applied for, in one that made arrangements (RNA released) explaining that the company had been granted a 17 day PROVISIONAL period to return to market on a DATE of.... (overlapping FCA/LSE application)
The majority though have been a few months total, few have been year/s+ (eg Bradda a medical equipment - came back years later as Bradda Lithium)
So the delays always down to the two companies, PREPARATION is all, FCA expects certain documentation and financial reports, will not budge until it gets what is required.....
Some will be familiar with COPL, ceo (told all he was wrong) said would not need to be suspended (all true RTO's are) sure enough the day of signing agreement with Atomic SUSPENDED, then took another 6 months to do the 1 month return stage, all stuff that could have been done prior to suspension, knowing what is required by the FCA
Apparently the private US company ATOMIC accounts , basically being years of papers and receipts in a large cardboard box, did not float their boat, what a shocker. 🙄🤦♂️