Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
KanakJ, why do you think we will be suspended?
gfd, you're correct of course and I suggest that nobody takes my advice on shares!
Wonderful RNS announcements this morning!
I feel so relieved. I've sold some shares to reduce my risk, and I am keeping some in hope of a takeover. NEVER put all your eggs in one basket!
dafad, thanks for your interesting link!
Is it unusual to have the dispensations to the rules?
Alwaysone, how can you know that they aren't up to $20m on the ATM, and why wouldn't they raise the full amount? Does the plan to remove the listing from AIM affect this? Please excuse me if these are silly questions..
The directors can ask for a six month extension to the August deadline because of the covid, drunkinftl.
Moneymaker2015, why do you think there won't be news of a sale soon?
gfd, I'm well aware that the shares are suspended! AIM Rules still apply according to Rule 40. Any information that would be price sensitive if trading was taking place still needs to be disclosed. For example, we've had an update on appointing a Nomad and a new NED etc. You do have a point about the extension information already being available. However it will be good if the directors let shareholders know about the extension by an RNS, and I think they probably will do that.
gfd I think rule 11 may apply if the extension is 'price sensitive information'.
Ian_, thanks for that.
Hopefully, the company won't need an extension from 11 August. Do you think that EUA will resume trading before then?
Ian_, I was referring to an extension for staying suspended after 11 August.
I do know about the extension for Annual Accounts that you mention, which is irrelevant to the deadline Spikeyj referred to.
Penguin I do agree with you about the delays.
Spikeyj EUA can ask for a 6 month extension to the deadline due to covid.
An unaudited report is possible, mac.
An update on the MT Flanks application and the suspension would also be useful.
The accounts deadline has been extended from 30 June to 30 September - https://beta.companieshouse.gov.uk/company/03010091
I think this extension will be due to covid.
Peng, I haven't seen the email you mention!
As I have said before, I am not a deramper or in a team!
Penguin, why 3 days left to go?
mac, covid may have caused delay in getting the flanks licence and in talks with banks? I think it can be used to request an extension..
I think that it may not be possible to get a reply about who requested a suspension from KB. That could be deemed confidential and possibly price sensitive information.
AIM Rule 40 does allow a company to ask for suspension in only one situation. The Exchange then decides whether to grant the suspension, and can also impose conditions on lifting the suspension.
"The general principle applied by the Exchange when considering requests for a suspension of
trading in AIM securities is that interruptions to trading should be kept to a minimum.
An AIM company should request a suspension in circumstances where it is required under
these rules to make a notification but is unable to comply with its obligations under rule 10
(having used all reasonable endeavours to do so). Any such suspension is at the discretion of
the Exchange. The Exchange will not suspend the trading in AIM securities if it is not satisfied
that the circumstances justify suspension.
Should the Exchange effect the request for suspension, the AIM company must make a
notification stating the reason for suspension to the fullest extent possible.
An AIM company, while suspended, must continue to comply with these rules.
The Exchange may impose conditions on the lifting of suspension as it considers appropriate.
Once the circumstances leading to the suspension have been resolved or clarified sufficiently
for the AIM company to make a notification that informs the market about relevant matters,
such a notification should be made without delay. Restorations are effected by a dealing
notice."
https://docs.londonstockexchange.com/sites/default/files/documents/AIM_Rules_for_Companies_January_2018.pdf