Member Info for mac4671

HopeSo, i can't think of any other reason. Literally once submitted to the FCA you have to make the announcement, only lawyers could have that changed by contacting the FCA with their reason to not announce what they intended to announce.

If anything, we can be assured that nothing is effecting the execution of the M&A, they would have had to announce that something has changed since March. It's totally bizarre, until you think about the NDA's and legal teams at both sides needing everything to be word perfect for legal reasons. If there's a part which they deemed to be misleading about the deal for example, they would have to pull the announcement and rectify it to the satisfaction of both sides legal teams. I can't see any other reason for what we've all just witnessed over the last 30hrs or so!

GLA

Even i'm struggling to fathom out what is holding up the execution of the M&A. What this restoration of trading RNS has done however is tell everyone that no sanctions etc are effecting anything, everything is as per the last info drop in March, there has been no material change since that point!

Announcement wording discrepancy is practically the only thing i can logically think of at this stage, only the lawyers governing the M&A wording have the power to make such a move prior to an announcement imho

GLA

Something has to have taken place Saint68, you can't suspend with no reason. It's those NDA's that create these situations imho. There's perhaps a news release discrepancy that they need to sort out prior to releasing whatever announcement they had originally intended to announce. The lawyers at both sides will expect things to be word perfect if it is M&A related for example!

GLA

Exactly Lucando, they have to give the reason to the FCA for it to take place in the first place. That reason as logged by RNS was to make an announcement, that's why it is very bizarre. They will have probably put the suspension notice in last Friday for it to become effective on Monday morning also, so, something is clearly going on behind the scenes!

GLA

I don't think either side of the fence expected that. So, a totally pointless suspension, bizarre!

GLA

https://www.mining.com/joint-venture/jv-article-platinum-group-metals-is-at-the-vanguard-of-next-generation-lithium-ion-batteries/

Such an easy waiting game this one!

GLA

In for a penny, out for two pound lol

GLA

Look, another shorter hoping for minimum damage lol Suck it up bettercup, the fire is on its way!

GLA

See they have to make an EGM or early AGM right now if it is the M&A, the further announcement could very well be what they've already told us all in RNS -

"Such a disposal would require shareholders' consent, an announcement which contains the information set out in Schedule Four to the AIM Rules; and be accompanied by a circular containing the details of the disposal and convening a general meeting to approve it."

The longer the wait goes on the more likely it is the case tbh! The reason is the same reason for all of the silence, the NDA's.

GLA

Rule 15 matches both our previous RNS releases forewarning us all and the AIM rules to do with suspension -

"The AIM company putting in place changes that can be judged a fundamental change of business. Under such circumstances, the company must work alongside their adviser to re-prepare their AIM admission document and go through the processes required for re-admission to trading of its shares (Rule 15)."

https://aim-watch.com/project/trading-suspensions-overview/

24th Oct 2019 9:53 am RNS Engagement with CITIC and VTB Capital

If the Company was to dispose of both of its Assets, then AIM Rule 15 (Fundamental Changes of Business) would apply. Such a disposal would require shareholders' consent, an announcement which contains the information set out in Schedule Four to the AIM Rules; and be accompanied by a circular containing the details of the disposal and convening a general meeting to approve it.

https://www.lse.co.uk/rns/EUA/engagement-with-citic-and-vtb-capital-75c925zx7g386wg.html

GLA

That's why it's not Rule 40 and is more looking to be to do with Rule 15. As someone else has pointed out, the buyer may have to RNS first then will follow Eurasia's announcement. The NDA's make it all quite complicated is the news release aspect. They could release simultaneously i guess, having things exactly right at both sides could cause a delay?

If the fundamental change of business is to take effect then they have to do all of the relevant work for re-listing as a different kind of entity as well.

One thing is certain however, we will all find out sooner or later.

GLA

The easiest way to shake a shorter out for ALL to see.......completed it mate lol

They really are that easy to toy with!

All of their time spent trying to unsettle investors and look at them now!

GLA

It's comedy gold watching them panic.

It's quite clearly a big announcement coming, if it was a small thing like the Nomad then we would have heard by now.

GLA

Because they can't execute until we vote it through Hudson -

"Trading on AIM for the under-mentioned securities has been temporarily suspended from 16/05/2022 07:40am, pending an announcement"

The further announcement could theoretically be the M&A deal details and calling either an EGM or early AGM to deal with it all. Rule 15 will only apply after we vote it through, but, having it suspended in the mean time maintains an orderly market.

I suspect that we'll hear first thing as to the reason and exactly what is happening. The M&A has been progressing throughout, the last RNS stated specifically that there was nothing to stop them from executing and it was all BRICS. From that we can assume that has been their main focus as we've heard nothing since that RNS, it can only be for the M&A side of things imho.

We also have the H4Energy JV to think about, i think most of us presumed it was going to start making better headway once the asset sales have been dealt with.

If it's a large deal, like most of us believe it is, the difference in SP could be extremely significant which may be what the requested suspension has been sought for while they get the deal info released.

The assets are no less valuable than when the FSP was started and not one sanction has any effect on Eurasia, so, the deal that Due Diligence was done for in October should go through just the same. They will be looking to be in production 18 months from now at Monchetundra either way, long after this current conflict is over.

GLA

RNS -

"Trading on AIM for the under-mentioned securities has been temporarily suspended from 16/05/2022 07:40am, pending an announcement."

FCA -

(3) a clear explanation of the background and reasons for the request;

https://www.handbook.fca.org.uk/handbook/LR/5/3.html?date=2022-01-04

A bit of a wait until morning, but, something has to arrive sooner or later.

GLA

This -

"The AIM company putting in place changes that can be judged a fundamental change of business. Under such circumstances, the company must work alongside their adviser to re-prepare their AIM admission document and go through the processes required for re-admission to trading of its shares (Rule 15)."

https://aim-watch.com/project/trading-suspensions-overview/

24th Oct 2019 9:53 am RNS Engagement with CITIC and VTB Capital

If the Company was to dispose of both of its Assets, then AIM Rule 15 (Fundamental Changes of Business) would apply. Such a disposal would require shareholders' consent, an announcement which contains the information set out in Schedule Four to the AIM Rules; and be accompanied by a circular containing the details of the disposal and convening a general meeting to approve it.

https://www.lse.co.uk/rns/EUA/engagement-with-citic-and-vtb-capital-75c925zx7g386wg.html

It's all there tbh, you just have to look.

I suspect what we'll get next is this -

"Such a disposal would require shareholders' consent, an announcement which contains the information set out in Schedule Four to the AIM Rules; and be accompanied by a circular containing the details of the disposal and convening a general meeting to approve it."

Of course, this is simply what matches the rules and the M&A process that has been going on. The M&A has to end at some stage and DLA Piper are wanting to wind down their work in Russia, logically, many things point to it possibly being Rule 15. We were forewarned about it as per the relevant RNS.

GLA

Nothing there to trigger article 40 LB. Those trades do not effect the market, not even in the slightest!

GLA

You can reduce it down to only certain possibilities, it can't be late accounts for example as they're due May/June, there is still plenty of time for that, so, you are then only left with the other options. One of which stands out is the rule 15 part, because, well, it was mentioned right at the start of all of the M&A carry on, it has been a fundamental constant throughout the entire process. If both assets are sold the rule 15 kicks in, that would see this suspension occur.

We'll see though.

GLA

You will notice that the reason for the last suspension is also within the link -

"The AIM company ceasing to have a nominated adviser. If within one month of this suspension, the company has failed to appointment a replacement, then the AIM securities will be cancelled (Rule 1)."

Which should confirm to anyone what possible reasons can lead to a suspension of trading. Aim rules are Aim rules.

GLA

The reasons for an AIM suspension are in this link, i've simply highlighted on of the reasons which directly matches what has been mentioned in official RNS -

"The AIM company putting in place changes that can be judged a fundamental change of business. Under such circumstances, the company must work alongside their adviser to re-prepare their AIM admission document and go through the processes required for re-admission to trading of its shares (Rule 15)."

https://aim-watch.com/project/trading-suspensions-overview/

Read it for yourself, simple really!

GLA