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I completely agree, things take time - whilst the administrators may absolutely suck and be awful, phoning the receptionist of a company to ask if a meeting went ahead is bordering on desperate. We will get news when there is news, it's not all of a sudden going to start trading without anyone noticing.
I've lost A LOT of money in this, we're talking thousands (a lot to me) but all we can do is just sit back and ride out the....whatever the hell...is happening. My personal belief, it'll be fine but I understand it's frustrating not knowing.
I'm fairly cluless with how it all works but I suspect just a repeat of the last few weeks, SP will drift down as the week goes on - totally uneducated guess but based on last week probably be down another 1-2p by Friday, then ramp back up Friday with all the big guns jumping onboard in the fear of missing out :D
I wouldn't imagine anyone is punishing icon, I suspect the administrators are just doing thier due diligence. I can't even begin to imagine the paperwork involved.
I also can't imagine they'll be out of administration / relisted with a week, suspect it'll take a few weeks at least before they start trading again. Likewise I don't think emailing the administrators for an update or harassing them will make a blind bit of difference. Appreciate its frustrating (I'm several £k down because of it) but we've gotta let it play out :)
My opinion, not trying to be inflammatory
In my dumb little mind, I'm bummed out by the news but logic is telling me - new board, new company, new direction. All these extremely capable directors coming on board, whilst the news might have come as a shock to them I doubt they all jumped on the ICON wagon just to lose their jobs within few months.
So like everyone else said, I'm not writing it off but I'm going to pay considerably less attention. AT LEAST if they do survive, get the cash injection, pay off the debt (or deflect it at least) - they would actually be in a better position than they were pre-administration so hopefully if the shares do become unsuspended they won't tank.
He says, desperately clinging to hope/logic.
There goes another £1200 down the drain.
It says the administrators will consult with the appropriate bodies to suspend trading in shares, question is.. Will my sell order go through first thing Monday morning?
A few days of a free for all?
Thanks both, (Andy, DORE)
I saw the same thing with FIRE (Canadian SE) when they sold, but their shares didn't suspend instantly - was just given an offer for conversion which was about 2% worse. Yet the share price in FIRE spiked 50% after the announcement.
Hi all,
Just a quick question, for those of us who are a bit new to the whole sale process.
When the time comes what are we expecting to happen?.. from what I understand it will be an RNS which is (immediately?) followed by a suspension of buying/selling shares in EUA - to be replaced with an conversion/offering in the company of whomever purchased EUA?
So until the suspension is lifted, we won't be entitled to do anything with the EUA shares until they're transferred/converted into the new company after which we can sell, or will the EUA shares just spike hugely in value - which we can sell up until the suspension comes into play?
As you can see, I'm a bit vague on some of the finer details so just trying to understand how this would play out?
Thanks :)
So, really dumb question - I've never invested in a company that was due to be sold. So all this talk of shares will be worth x after sale - how does it work, is it literally just that the share price jumps massively or some other process I'm not aware of?
Thanks :)