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I've had a number of conversations with both Michael Ellwood and David Scott on this subject. I share the frustrations of other shareholders at the lack of public visibility of the reasons behind this.
I have been assured by Michael that this is a distraction from getting on with identifying an appropriate RTO candidate, and that it is not due to the following;
a) remaining in suspense because of a new imminent deal, simply as a matter of convenience. Rather, ME would rather see it returned to market, even if it meant going back into suspense a short time after once a deal can be progressed.
b) there are specific reasons which are being addressed, primarily by David Scott, but backed up by Michael Ellwood
c) Progress is being made, though no certainty still being given on timescales.
d) I have also been assured that there is nothing nefarious, dodgy or otherwise suspicious holding things up, which is probably in the backs of every shareholder's mind (fertile ground for paranoia, in the absence of clarity over the specific situation that they're trying to resolve - rather that they find themselves in a slightly unique situation which is taking considerable effort to resolve.
e) I have expressed that it would be a good idea for some sort of communique to be sent to the shareholders, or published on their website once the situation is resolved, explaining some detail about the nature of the situation that they have found themselves in, if they wish to retain positive sentiment from their shareholders... ME i think is receptive to that idea....
Hopefully we'll hear more from them soon
L
They applied right back in November, but the FCA requested that full accounts and interims were provided first.
I believe it is now with FCA for final confirmation. No indications of any further hurdles…. So should be pretty soon now.
L
from what ive gleaned from mike ellwood, i dont think they are still in talks with TPC
of course that might still change in the future... who knows. there are a lot of other opportunities out there though. i think NZI will simply move on to something else..
l.
So, finally an update. Full results published.
updaate on return to trading - publish of interim results - unaidited, followed by resumption of trading - target - 16th jan - so a week on monday.
l.
When I spoke to the FCA although soecific details must remain confidential between the FCA and the comoany, they do actually scrutinise accounts submitted by companies….
So there are occasions where trading resumption could be delayed if they had questions
L.
So,
no further update from the company yet.
I've also spoken with corporate actions at LSE who indicate its entirely between FCA and the company.
spoke to FCA and nothing they can say as it has to remain confidential between FCA and the company representatives, which means its basically down to waiting on info from the company....
disappointing...
not good...
l
Lord knows.
My understanding is that accounts have also been sent to the FCA, though it is interesting to see that no RNS to that effect has yet been released to the market, so maybe it's just a case of getting through a backlog on the FCA's part?
I have been in touch with Michael Ellwood, and so far there seems to be no sense of anything other than the FCA has the information it needs to make the call. I do get the sense that Michael shares the frustrations of the shareholders,
I have also emailed the FCA on the matter, though whether they would tell me anything is debateable.
I
I have heard that it is with the FCA.
However I am increasingly concerned over the silence….
If it is the case. Then either the FCA are dragging their heels, or there is some sort of problem which NZI are unwilling or unable to elaborate on.
Someone mentioned on here that “primforall” is Rupert Labrum’s handle on LSE. It would be interesting to see if he could comment on here given the size of his personal stake. From what I can work out a significant portion of which was acquired in the open market, so must be close to the best part of £500k spent which is pretty substantial…
L.
Hi Primforall, I gather this is the handle for Mr. R Labrum. I wonder if you’d be willing to comment on the NZI chat about any concerns you may have around the current delay to its return from suspension given the apparent size of your stake in it?
(Apologies folks for the off topic comment. I’m not a premium member here so can’t send direct messages(
Rgds
L
Accounts submitted to companies house yesterday
https://find-and-update.company-information.service.gov.uk/company/13236308/filing-history
So we should be getting a return from suspension request pretty soon I’d expect
L.