The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I have not deleted a thread but looks like quite a few "p&d" merchants are reporting my posts.However it is getting interesting, last week I was told that someone was willing to pay "143 millions" for "assets" so when turns out company had assets worth "£109k" mainly a part ownership in technical report.Then someone mentioned psc, however looks like mug punters dont understand what PSC is and now you have just told me that someone would give them assets and money.
I have never ever shorted however this is a stonking short and shorters are set to make a fortune as speculation is driving the price.Problem is it is pointless to argue with someone whose investment decision is based.on nothing but hot air.
The key rules to read are 9.6.1 and 9.6.2 under the title “Change of accounting date”:
Rule 9.6.1 states “A listed company must prepare and publish a second interim report in accordance with ■ DTR 4.2 if the effect of the change in the accounting reference date is to extend the accounting period to more than 14 months.”
And 9.6.2 states: “The second interim report must be prepared and published in respect of either: (1) the period up to the old accounting reference date; or (2) the period up to a date not more than six months prior to the new accounting reference date.”
Upland has extended its accounting period from 12 months (ending 30 June 2023) to 18 months (ending 31 Dec 2023) and so rule 9.6.1 applies. The result of both limbs of rule 9.6.2 is that the second interim report needs to be prepared as at 30 June 2023.
There is some ambiguity over the deadline for *when* these accounts should be published. If they are treated as interim accounts then 4.2.2 of the Disclosure Guidance and Transparency Rules sourcebook (“DTR”) applies, which states:
"The half-yearly financial report must be made public as soon as possible, but no later than three months, after the end of the period to which the report relates."
Share prophets and according to that company needs to publish results by tomorrow or shares can be suspended.Company changed its reduots date but still need to publish results tomorrow or it can be forced to suspend shared
Think they got too greedy and resorted to fake bid otherwise this "p&d"was going perfectly fine.I do think most of mug punters got lured in through telegram and twitter crew and thought they have found a "gem".Why should someone not buy this at 4 when BOD rejected an "14 p" offer deeming it too low for their part ownership in technical report which is worth £10k as per last results.