The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
A Gazette notice will declare that the company will be struck off Companies House and cease to legally exist. A notice of compulsory strike off means a company's is removed from the Companies House Register and so, legally, no longer exists. It happens when a company has failed to comply with the rules such as filing accounts. 3 months notice
https://twitter.com/OrioleResources/status/1641446388218331136
:)
I doubt bankruptcy, the implications any company bankrupt must not act as a director or be involved in any way in the management of a company until discharged from bankruptcy.
So that is another piece of rubbish, how are your vast shares, .7p when you were bashing on about us silly DKE investors.. oops down to .41p... so you do know nothing really
All is not lost, the last only update is still the current play
As announced on 1 November, trading in the shares of Dukemount is currently
suspended, as the Company was unable to complete and publish its audited financials
for the year to 30 April 2022 in the prescribed time.
Since this announcement, the Company has been working closely with its auditors to
complete the audit, the publication of which will allow the Company to apply for the
suspension of trading in its shares to be lifted.
This process has taken longer than expected but the Board is pleased to confirm that it
now believes that we are nearing the end of the process and, as such, the Company
hopes to be able to provide the market with a positive update on this matter in the near
future.
The Board is very grateful to all its stakeholders for their continuing patience in this
matter. All of the officers and advisors to the Company are working as expeditiously as
is possible to reach a conclusion to this process.
There is some confusion on LSE chat about a delisting. A company can only be delisted two ways. The first is for the directors to propose a delisting to the share holders in which they need a 75% acceptance of votes cast. DKE will never achieve this as all the shares are held by PIs. The second is for the FCA to cancel the listing as a result of the company being in breach of listing rules for example not filing accounts.
In order to file accounts DKE needs funding.
RNS 22/11/22 - "The Company is working with its auditors and funders to complete the audit as quickly as possible so that it can apply to for its shares to be allowed to resume trading."
The company also needs a prospectus to raise funding via the markets and also to move from the real estate sector to the energy sector. The problem for DKE is that at suspension the market cap was only £700k and it had no business so any prospectus to issue new shares would also have to involve an RTO. Another problem for DKE is that the stock was illiquid until it crashed and became attractive to bottom fishing PIs looking for a multi-bagger on recovery. But the shares could not recover as the company ran out of money and was forced to sell its only assets.
Unless someone or some entity was after the main market listing I just don't see anyone injecting cash into DKE. At the moment its just a question of wait and see but the closer the timeline gets to 30/04/2023 the less likely the shares will be relisted.
Keep positive all, its not over till its over
Lots of positives and lots of negative posts
BOD please get this over the line, we have supported you for many years and deserve better, we are all very concerned and need an update/rns
Happy Motjers Day to all mom holders, BOD be aware thier wrath