Who suspended who/Nomad deadline24 May 2020 09:03
On trawling through the AIM rules I came across the one below, many derampers have stated that that LSE had suspended EUA due to the breaking of rules, but as the rules state suspension is not one of the methods of discipline open to them, therefore we must have (and remain so suspended) by choice of the company.
Sanctions and appeals
Disciplinary action against an AIM company
42. If the Exchange considers that an AIM company has contravened these rules, it may take
one or more of the following measures in relation to such AIM company:
? issue a warning notice;
? fine it;
? censure it; or
? cancel the admission of its AIM securities; and
? publish the fact that it has been fined or censured and the reasons for that action.
Also as Earache rightly points out, the AIM rules only states :
If an AIM company ceases to have a nominated adviser the Exchange will suspend
trading in its AIM securities. If within one month of that suspension the AIM company
has failed to appoint a replacement nominated adviser, the admission of its AIM
securities will be cancelled.
So it seems 07.00 on the 29th is not a definitive requirement, but as the 30th is a Saturday, having a nomad in place at 07.00 on the 29th will mean they will have provided at least one full day of governece to EUA, maybe that is what the company are trying to achieve to ensure they dont fall foul of the vague rules?
Anyway, I am not worried in the slightest, and am expecting a fine outcome for all genuine holders,
GLA
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