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I recall he said it would be a changed company in october? where is the new CEO appointment?why the total silence ?
I am beginning to think it may be that he is looking to sell the whole company now and there is a due diligence going on.....
I am thinking an EGM might make DC take us seriously.. there are 260 m shares in issue -we need 10 per cent .Do we have them?
Who can Call for an EGM
The members/shareholders of a company can call for an extraordinary general meeting. However, only certain members with a significant stake in the company are allowed to call for an EGM. They are listed in the Companies Act,2013 as follows.
In the case of a company having a share capital, members holding not less than one-tenth of such paid-up capital of the company that carry voting rights in regard to that matter as on the date of depositing the requisition;
In the case of a company not having a share capital, members holding not less than one-tenth of the total voting power in regard to that matter as at the date of deposit of the requisition.
EGM called by Board. Upon the receival of a valid requisition, the Board has a period of 21 days to call for an EGM. The EGM must be then held with 45 days from the day of the EGM being called.
EGM called by the requisitionists – In case the Board fails to call for an EGM, it can be called for by the requisitionists themselves during a period of 3 months from the day the requisition was deposited. If the EGM is held within this specified period of 3 months, it can be adjourned to any day in the future after the 3 months.
extraordinary general meeting
(source – inc)
Essentials of a Valid Requisition
The essentials of a valid requisition are listed down below as follows:
Specify the issue for which the meeting is called
Signed by requisitionists; and
Must be deposited at the company’s registered office.
Requirements for holding an EGM
A notice period of 21 days must be given to the members. However, there is an exception to this rule. Where if 95% of the voting members consent, the EGM can be held at a shorter notice.
Quorum Required for EGM
Unless the company’s Articles state otherwise, the following number of members are required for a quorum.
In the case of a public company: five members personally present; and
In the case of any other company: two members personally present.
Newlands now seeing the reality and reducing....the company misled investors with their pipeline -in the end kongats had to explain that there was no contractual minimum in the pipeline-that is why the new CEO is reviewing that .
The clues are all there ! They are too small to survive
poor PC03 - he must be gutted as he held lots
Not tempted to buy back in -its too risky .Good luck all
Watched the presentation a couple of times . I thought Martin Ive was excellent, and didn't waste time going through the financial results ,instead focussing on the future and in particular cash flow . Paul also made the point that they have enough visibility there to start producing a more detailed outlook ,particularly re Gen 3 where they already have purchase orders ,and the numbers will be "significant".
The other point of note is Martin mentioned in the question session that from a statutory accounts perspective they will have to consider recognising a deferred tax asset ,maybe as soon as in the fy 2024 statutory numbers. This is very significant as you can only do this is you can demonstrate to the auditors the likelihood of the tax losses being used in a reasonable timeframe .This means that we may have a positive tax credit in the accounts which could easily mean a positive EPS !But it also means future profits are foreseeable going forward.So it is all looking positive ,and the share price is not reflecting the huge potential .
General disclosure of price sensitive information
11. An AIM company must issue notification without delay of any new developments which
are not public knowledge which, if made public, would be likely to lead to a significant
movement in the price of its AIM securities. By way of example, this may include matters
concerning a change in:
— its financial condition;
— its sphere of activity;
— the performance of its business; or
— its expectation of its performance
D C COULD BE LIABLE AS DIRECTOR -POOR PERFORMANCE FROM HIM.
If the accounts are ready then they should be issued. tintin or DC are on planet zog-this is appalling .And Dc asking tintin for advice?
I cannot believe how this is disintegrating-thought we had 5 YEAR CONTRACT RE FORMULA E?Why no RNS?
BEYOND BELIEF
It is nothing to do with the regulations-it is to do with health insurance companies being willing to reimburse the cost and how much they will pay
CPT -why are they only doing this application now? POLX managed to apply and receive the code within 9 months of FDA clearance-it was very important.
Ah apologies -laziness on my part
Tintin ask mb10 about what he was told re imminent accounts. Are you not able to learn ?
They need a broker to be able to relist so not necessarily good news
Calm down dears lets just wait and see
Oh thanks- I didnt recall any nuclear reference.-will have a look again .
I wonder why this system was not covered in that presentation slide often used where POLX's method is compared to other methods ? It maybe needs to be updated for the next one,but in the meantime some comment from the company would be very helpful to allay fears.
Rule 41The Exchange will cancel the admission of AIM securities where these have been
suspended from trading for six months.
So we have until 31 December Dont panic! I suspect the auditors wont be rushing to sign off in the next few days though
The going concern aspect may be an issue .....
Very frustrating DC hasn't updated us in the meantime on timeframes. Poor show
Rule 41 of AIM
The Exchange will cancel the admission of AIM securities where these have been
suspended from trading for six months.
We have until 15 November by my reckoning .
Well done!
No you aren't - let us know what you buy and when!
Prime-very simplistic eg going concern status?
"and I look forward to Mork joining me"