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I’ll have to doublecheck that dissolved thing. MYbe I was seeing things lol.
Anyways,cut and pasted from advfn board…
Just got off the phone with David Scott.
shares remain in suspension pending release of accounts which will cover period up to march (so before the suspension in may).
Accounts are apparently with their auditors for finalisation. David has indicated an expectation of a few days…..
Also looks like ikonia fintech may be expanding its services to include more activities on the corporate advisory front (which is David’s area ).
This is the information David S has provided me with.
So, now we wait….
L
I only say this because David Scott is presented as being head of corporate finance, and when you look at the ikonia fintech website, you can see all the main people there, and he isnt on their list - you'd have thought as head of corporate finance he would be....
oh, and the ikonia capital dissolved in june 22 - a month after nzi was suspended too......
(paranoia working overtime lol)
L
Im not sure that ikonia fintech is the right company.
I've found this one :
https://suite.endole.co.uk/insight/company/14194225-ikonia-capital-uk-ltd, and this one actually does have a david scott associated with it.
The bad news is it says the company has been dissolved, so it makes me wonder where David Scott is working now....
I think the ikonia fintech might be coincedence.
Still - I'll ask him when he gets back to me
L
Well,
I've sent Michael text messages, and also tried to contact David Scott of Ikonia, and also Kamran Hussein at Axis Capital Markets to find out more about when they are returning to the market.
Michael texted back saying he would get David to contact me soonest.
The number for David on the RNS is an incorrect number. Ikonia are based in Europe, and the number on their website is also an incorrect one - which does give me some cause for concern considering they are supposed to be NZI's corporate advisers....
When I got through to Axis, a dealer from their trading operation answered, and also said he'd get Kamran to give me a call.
It's not looking great.....
L.
The board have got a track record in securing debt financing, (see Horizonte minerals as an example) so it doesn’t necessarily mean share dilution.
However, it wouldn’t surprise me that with only £5 mill in cash, given the timescale, there will need to be a cash call at some point….
L
Taylor’s recent results certainly show signs of growth with a solid underlying business.
As far as potential share price goes, who knows. Rupert Labrum however did buy nearly 30% of Nzi, and it looks like they were all on market purchases around the time when the shares were trading at 3p or above….
You don’t put best part of £500k into a business only to watch the value halve in value……
Be nice to see something ref the RTO get publish during September or October….
L.
so this section is interesting
4 Cancellation of admission to trading of Bacanora Shares on AIM and re-registration as a private limited company
Bacanora Shareholders are reminded that, as stated in the Offer Document, now that the Offer has become unconditional, if Ganfeng receives acceptances under the Offer in respect of, and/or otherwise acquires 75 per cent. or more of the voting rights carried by the Bacanora Shares (including the Bacanora Shares it already owns), Ganfeng intends to procure that Bacanora makes applications to cancel the admission of the Bacanora Shares to trading on AIM and to re-register Bacanora as a private limited company under the relevant provisions of the Companies Act. Ganfeng will procure that Bacanora makes a regulatory announcement when the necessary 75 per cent. threshold has been reached confirming the anticipated date of cancellation.
does this mean that ganfeng can now go into the market and procure the 1.1% of shares it needs to have 75%?, otherwise, you're in an open ended cycle awaiting for existing shareholders to take up acceptance of the offer...
i must be missing something here....
l
thought they needed 75%?
rns says 73.9%....
so, surely all still in the air isnt it?
l
i could see it dropping to around 17/18 pence .. but, with henry maxey willing to in effect underwrite it, I think any drop will just be seen as a buying opp.....
12 momnths since purchase of 50% interest, 6 months since purchase of other 50%, they cant be far off announcing progress from post dfs workstreams...
L.
L.
agm resolutions passed. so renaming to green glen will take a couple of weeks or so, but mid december sounds about right for re-issue of green glen minerals shares to existing holders of erris gold ressources ltd. The prospectus etc for ipo of green glen ID imagine to be avilable probably around late december eaarly january.
remember theyve got to go through a proper book build for raising the additional finance as part of an ipo - at least a month Id reckon so i think it more likely we'll see some further news on that late dec early jan. My money is on a feb 2022 listing...
L