selector I hope you're correct.
Why would the flanks licence create a delay in getting a new nomad? They seem separate issues.
Bristol, the large institutions hold shares for individuals as nominee accounts. There are no institutional shareholders.
gfd, I wish I could feel more optimistic. The long delay in removing the suspension, nomad resignation and lack of regular news have not helped me to stay positive. Other delisted companies have still got an LSE bulletin board, including FRR and LION. However, only a small minority of shareholders are likely to see the board.
It will be hard to organise shareholders after delisting. The register won't be too helpful because most people have shares in a nominee account.
gfd, obviously I do hope my scam fears are unfounded. I was simply responding to your question about a pay-off for a scam.
It could be quite hard to organise shareholders to prevent skulduggery. Actually, I feel that it's more likely that there is a ****-up rather than a conspiracy. The share suspension may have been at the request of WHI because of the ACF Report and social media comments hyping the possible deal. The Hammond tweet could have been the 'last straw' for WHI. Possibly the BoD haven't wanted to clarify the CITIC relationship because of NDAs in deal negotiations. WHI could have given notice to resign in late March due to the long delay in the clarification of the relationship. The BoD may now want to appoint a nomad, but they may have a problem with appointing by 29 May due to issues from the nomad DD? It's not surprising that lots of posters now feel very worried about the possible company delisting.
gfd, I am thinking that the company could perhaps buy a stake or lend money to Lybrion, rather than just 'syphon-off' funds. There might then need to be a general meeting to approve the action. The largest shareholders would be likely to ensure that they won any votes at a meeting.
gfd, why do you think the directors of a private company couldn't do what I've suggested? The recent pictures do not show the excavator and trucks in use.
What is the 'birdcage feed'?
gfd it's disappointing that we're having to guess at what is happening. There should be far more RNS updates.
A private company has a lot less regulation. Perhaps the BoD want to invest the asset sale proceeds in the Lybrion project that DS is involved in? https://lybrion.com/#team
I sent an email early Monday morning to EUA and don't have a reply at present.
dealer, please do elaborate on how EUA is different to LION if we are delisted.
Aubery, like you I have not had shares in a delisted company but I have researched. Delisting looks like a very bad situation for shareholders. The shares will be moved from an ISA to a nominee account and subject to normal tax. It will be very hard to sell, although a few private companies have over the counter share dealing. The AIM Rules do not apply to delisted companies. There is likely to be little information for investors.
Lionsgold shares still have their LSE board after being delisted.
https://www.lse.co.uk/ShareChat.asp?ShareTicker=LION&share=Lionl
Anders_uk, it is also possible that the prospective Nomad has issues following their DD, and that the delay is due to their issues..
Is news expected soon, scoredagainsteps?
Has Michael Hammond tweeted anything about the suspension or the nomad??
The days leading to 29 May may seem long, but at least we will find out the nomad situation 'shortly'!!
calamari, did you ask WHI about the RNS?
Did WHI give three months notice? There has been no information about when they gave notice, and they may have given a month's notice..
gfd thanks for the information about AIM Rules. The Rules should allow, and perhaps encourage, a nomad to make public resignation reasons to avoid doubt about the reasons. I also feel that the directors don't want to delist, but if they cannot get a nomad by 29 May the company will delist.
Hopefully a new nomad will be appointed asap!
Why is Hammond tweeting about EUA? Does he have EUA shares?
WHI have not reported any scam. However, they have not given a resignation reason either...
gfd, thanks for your positive reply! It's easy to get worried by the situation, and we must hope for the best.