Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
Gooner - I couldn't help it apologies! :)
Off topic - have you seen news re Klopp - "Liverpool manager Jurgen Klopp is to step down from the role at the end of the season, saying he is "running out of energy".
He;s done well to be fair - as much as it pains me to say it!
Agreed Pappi - who would put in £500k if they weren’t confident of a positive outcome?
Allenby must also be confident, so that’s another plus in my kind.
Wiseowl - I didn’t know you were invested in MATD ……. You should have said! 😉😉
Application has been made to the London Stock Exchange for, in aggregate, 30,303,040 new Ordinary Shares to be admitted to AIM. It is expected that Admission will become effective on 2 February 2024. Following Admission, the Company's enlarged issued share capital will comprise 237,825,076 Ordinary Shares with voting rights in the Company. As the Company holds no shares in treasury, this is the total number of the voting rights in the Company which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change in the interest, in the share capital of the Company under Chapter 5 of the FCA's Disclosure Guidance and Transparency Rules as reflected in the Company's articles of incorporation.
Issue of warrants
In addition, Allenby Capital Limited, who are acting as agent in respect of the Subscription, will be issued with 303,030 warrants to subscribe for new Ordinary Share at a price of 1.65 pence per Ordinary Share exercisable for a period of 3 years from Admission.
The Warrants will not be admitted to trading on AIM or any other stock market. The issuance of the warrants is subject to Admission.
Suspension and annual report
As announced on 28 December 2023, the Company's shares have been suspended from trading on AIM pending completion of an ongoing funding event and release of the Company's financial statements for the year end 30 June 2023. It is anticipated that the Company's delayed financial statements will be announced on 29 January 2024.
Further updates on the lifting of the suspension of trading in the Company's shares will be given in due course.
This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.
GCM Resources plc
("GCM" or the "Company")
(AIM:GCM)
Subscription to raise £500,000
GCM Resources plc, an AIM quoted mining and energy company, announces that it has successfully raised gross proceeds of £0.5m by means of a direct subscription (the "Subscription") of new Ordinary Shares (the "Subscription Shares") at a price of 1.65 pence per share (the "Subscription Price"). The Company will need to carry out an additional fundraise before the end of May 2024 to fund its working capital for the next 12 months.
The Subscription Price represents a discount of 37.7 per cent to the Closing Price of 2.65 pence per Ordinary Share on 25 January 2024, being the latest practicable business day prior to the publication of this announcement.
The net proceeds of the Subscription will provide the Company with a source of general working capital to progress its existing projects.
Subscription summary
• The Subscription has raised £500,000 (before expenses) through the issue of 30,303,040 Subscription Shares at the Subscription Price.
• The Subscription Shares will represent 12.7 per cent. of the Enlarged Issued Share Capital.
• The net proceeds of the Subscription will be used to provide the Company with a source of general working capital to progress its existing projects.
The Subscription
The Company will issue 30,303,040 Subscription Shares, to raise gross proceeds of £500,000 to participants in the Subscription. The Subscription Shares will be admitted ("Admission") to trading on the AIM market ("AIM") of London Stock Exchange plc ("LSE") on or around 2 February 2024.
Subscription Information
The Subscription is conditional, inter alia, on Admission of the Subscription Shares to trading on AIM and the lifting of the suspension of trading in the Company's shares. The Subscription and issue of warrants (as detailed below) has been conducted utilising the Company's existing share authorities.
The Subscription Shares will be issued, credited as fully paid, and will rank pari passu with the existing Ordinary Shares in issue in the capital of the Company, including the right to receive all dividends and other distributions (if any) declared, made or paid on or in respect of such shares after the date of their issue.
Application has been made to the London Stock Exchange for, in aggregate, 30,303,040 new Ordinary Shares to be admitted to AIM. It is expected that Admission will become effective on 2 February 2024. Following Admission, the Company's enlarged issued share capital will comprise 237,825,076 Ordinary Shares with voting rights in the Company. As the Company holds no shares in treasury, this is the total number of the voting rights in the Company which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change in the int
24 January 2024
GCM Resources plc
("GCM" or the "Company")
(AIM:GCM)
Requisition Notice
GCM Resources plc, an AIM quoted mining and energy company, announces that it today received a notice from Polo Investments Limited ("Polo"), pursuant to Section 168 of the Companies Act 2006, requesting that a resolution to remove Christian Taylor-Wilkinson be tabled, as an ordinary resolution, at the forthcoming Annual General Meeting of the Company or a general meeting of GCM to be convened as soon as practicable. Polo currently holds 43,328,003 shares representing 20.9% of the Company's total voting rights.
In the event that Christian Taylor-Wilkinson is voted off the board or otherwise leaves the Company, the board would comprise three executive directors, and no non-executive directors, falling short of the minimum guidance set out in the QCA Corporate Governance Code and raising questions about the efficacy of the Board as a whole, and the appropriateness of the Company to be trading on AIM.
WH Ireland, the Company's Nominated Adviser ("Nomad"), has advised that if such a circumstance occurs the Company would therefore have to add a number of independent non-executive directors to the board in the short term. If such additions to the board are not made to WH Ireland's satisfaction , it is highly likely that the WH Ireland would tender its resignation with immediate effect.
Pursuant to Rule 1 of the AIM Rules for Companies, if a company ceases to have a Nomad the Exchange will suspend trading in its AIM securities with immediate effect. If a new Nomad is not appointed within one month of the date of resignation of the original Nomad, this will result in the Company's ordinary shares being delisted from AIM and the Company's admission to AIM being cancelled.
This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.
GCM Resources plc
("GCM" or the "Company")
(AIM:GCM)
Suspension & Financial Update
Further to the announcement dated 28 December 2023, the Company provides below an update in regard to the publication of its audited financial statements for the year ended 30 June 2023, and the funding process. The Company is progressing on both matters and will look to resolve both issues before the end of January 2024.
The Company will make a further announcement in due course.
This announcement contains inside information as defined in Article 7 of the EU Market Abuse Regulation No 596/2014 and has been announced in accordance with the Company's obligations under Article 17 of that Regulation.
Hi Searcher.
Chowdhury has historically been against coal mining hasn’t he.
This was from an article on him back in August 2023:
Prime Minister's Energy Advisor Dr Tawfiq-e-Elahi Chowdhury rejected the idea of developing the local coal sector saying that it will destroy country's valuable agricultural land and underground aquifer.
He made this remarks at a webinar titled: "Philosophy of Bangabandhu Sheikh Mujibur Rahman on Energy Security, Achievement and Implementation Status." on Tuesday organised by Bangladesh Energy Society.
He said, we need energy but not at the cost of the life and livelihood of the millions of people of the Northern part of the country�at the same time we have to think about our valuable agricultural land and underground aquifer issues.”
Interesting to see him leaving his post then… 🤔
Https://www.bbc.co.uk/news/world-asia-67889387
Bangladesh's Prime Minister Sheikh Hasina has secured her fourth straight term in a controversial election.
Ms Hasina will serve another five years in office after her party the Awami League and its allies won 152 of the 300 parliamentary seats contested.
The polls were boycotted by the main opposition, the Bangladesh Nationalist Party, who have alleged the election is a "sham".
Sunday's result comes after mass arrests of BNP leaders and supporters.
Independents won 45 seats and the Jatiya Party won eight seats.
It is the fifth term in total for Ms Hasina, who first became prime minister in 1996 and was re-elected in 2009, remaining in power since.
Human Rights Watch estimates that nearly 10,000 activists were arrested after an opposition rally on 28 October turned violent, resulting in the deaths of at least 16 people and injuring more than 5,500.
"The government is claiming to commit to free and fair elections with diplomatic partners while state authorities are simultaneously filling prisons with the ruling Awami League's political opponents," HRW senior Asia researcher Julia Bleckner said in a statement in November.
The Awami League has denied these accusations, with Law Minister Anisul Huq saying: "Some of the cases go back to violent incidents that took place during the 2001 and 2014 elections."
'My husband died in Bangladesh jail weeks before vote'
Fears have been raised that this new victory for the Awami League could lead to de-facto one party rule.
Very few expect the government to relax its crackdown. More so, if opposition parties and civil society groups continue to raise questions over the legitimacy of the government.
The BNP boycotted the election after the Awami League rejected their demands for an independent caretaker government to preside over the polls.
Until then, "our peaceful and non-violent movement will vigorously continue," Tarique Rahman, the acting chairman of the BNP told the BBC by email from London where he has lived since 2008.
Mr Rahman, who is the son of Ms Hasina's bitter rival, former Prime Minister Khaleda Zia, also denied accusations that BNP party workers were involved in arson attacks in the run up to the poll.
Ms Zia is currently under house arrest on charges of corruption.
In 2018 Mr Rahman was convicted in absentia of orchestrating a grenade attack on a campaign rally for Ms Hasina in 2004 and sentenced to life imprisonment. Ms Hasina was injured and at least 20 others were killed in that incident.
"All allegations against me are baseless and rooted in political vengeance," he said.
The BNP has also called on people to not cast their votes.
'What is the point?' ask disillusioned voters ahead of polls
But Ms Hasina's supporters insist she has provided much-needed political stability for Bangladesh.
"We have continued the democratic process which has given this political stability. I think the world should credit Sheikh Hasina for that,"
I was looking for the illusion coal policy, and found this is from November. Not sure if it’s been posted or not?
“I think the government will develop country’s two major coal fields like Dhigapara and Barapukuria considering the existing environmental act,” the BUET professor said.
He advised the government to avoid the controversial coal field development to overcome public outrage.
“Prime minister’s idea to develop ‘coal city’ in the mining areas is a very good idea,” he observed.
https://www.daily-sun.com/printversion/details/185690
From the link:
Energy Sector
Like the election pledges of 1996, 2008, 2014, and 2018, the pledge of 2024 also mentions the exploitation of coal resources. Pledges are.
Production has significantly increased from the drilling of new wells. Such initiative will be strengthened further.
Gas supply to the north and western regions will be ensured. The supply of gas and LPG will be significantly increased. State-owned enterprises will be strengthened for these activities.
Coal policy has been formulated giving due priority to national interest. Required priorities will be given to the exploration of coal and other minerals, according to the policy.
Today 07:30
RNS Number : 2253Y
AIM
02 January 2024
NOTICE
02/01/2024 7:30am
TEMPORARY SUSPENSION OF TRADING ON AIM
GCM RESOURCES PLC
At the request of the company trading on AIM for the under-mentioned securities has been temporarily suspended from 02/01/2024 7:30am, pending publication of the Company's annual audited accounts.
ORDINARY SHARES OF 1P EACH, FULLY PAID (B00KV28) (GB00B00KV284)
If you have any queries relating to the above, please contact the company's nominated adviser on +44 (0) 20 7220 1666.
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