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I’ve been strangely calm today with a sense that this protective wrapper we’ve entered will force Anavio’s hand and be the stick that beats them with as it forces transparency for them and the BOD! We get production figures out tomorrow for February btw don’t we ? (which will be interesting). I think this is a deliberate and clever move to restructure and get our foes to fall in line! We have the assets and we have all concluded the SL debt does not/cannot exceed the worth of assets or they would not have increased and extended their investment help. We may through this process find out exactly all the salient details which we’ve been kept in the dark about now there will be a Monitor of the court appointed to do so who is allowed to trawl through all communications and filings and accounts…. I maintain it’s not over yet and Anavio and Bond holders face the same problem as us now! It’s not game over yet indeed! IMHO DYOR

The ICON RTO isn’t anything to do with the current cash shell left here I’m afraid! It absolutely stinks though the fact they want to relist that in the style now private company that was public that you were all invested in back on to the stockmarket via another cash shell! Stinks! IMHO DYOR

Looks like we will be finishing in the 40’s ask is on the cusp and NT for even medium sized buyers! Shorters do shut up if you’ve not covered yet your problems not ours, when this moves and it will soon then you’ll need to have bought or risk RNS with offer price being filed which will be minimum of 1.55… MADGE still moaning despite plain black and white forms filed here telling us ii have bought more since the RNS announcement last week! IMHO DYOR

GB Frisby is still in charge of the now private ltd company born out of the plc which was the same business as the listed company. There’s no difference he remains a director of the ‘new’ co he’s been a director throughout! IMHO DYOR

Well to be fair GB it used be this basically the same fast fashion business IN THE STYLE was listed ipo March 2023 and failed shareholders so had to be bought up for peanuts was taken private with AF still in control of the private co leaving shareholders on the listed company with massive losses! They the ‘new’ off market now co then have tried to come back to stockmarket via another cash shell ICON which is unbelievable as it’s been just under 12 months since they left their shareholders with a drum roll…a cash shell looking for RTO’s with the few pounds that they had left over! It actually stinks! You can’t blame ITS shareholders for being confused! It’s a lot to get you head around never mind the cheek of it! IMHO DYOR

We are not in administration an interim protective order has been applied for!

A company (also referred to as the "Debtor") that has filed under the CCAA for protection from its creditors is not in receivership or bankruptcy. Rather, it has filed under the CCAA in order to devise a plan of restructuring and compromise for its creditors that avoids the company going into receivership or bankruptcy, with a view to keeping the Debtor company operating, increasing the amount that may ultimately be paid to creditors and preserving the Debtor's employees' jobs.

IMHO DYOR

Well once again they’ve wound this right back but looks as though this in reality is really as far as they can take it before they get swamped with buy orders which will defeat the entire object of why they’re doing it when theres a tiny available free float; so expect this has to be the bottom now all things considered but a great top up/entry line for those who want in/want more! IMHO DYOR

Jimmy it’s the unlisted company born out of the listed business here that Baaj bought which became a ltd co off market after the sale. What was left over from the sale is now ITS as a cash shell here. The RTO concerns the now private company IN THE STYLE ltd 2023 see companies house AF/Baaj Capital. Confusing but shareholders here this now has nothing to do with shareholders now left here. A kick in the nuts from AF is what it is and brass neck absolute cheek to relist via the RTO of a cash shell that being ICON! You could not make this up! IMHO DYOR

Analyser it was 2 years between IPO march 21 and taking the business private March 23 to leave a tiny cash shell. Appalling behaviour and no equity ever raised sort from the original IPO it was terrible! IMHO DYOR

Gordon the sentiment would be the problem after the original company shafted shareholders leaving just a small cash shell behind and the trail of destruction RNS’s info all there still to see on ITS board here. I don’t think investors will be too delighted to put their money into this project with AF after what happened! No once bitten twice shy and the I’m alright Jack attitude to have the neck to go back to the stockmarket after the carnage is still raw investors don’t forget! IMHO DYOR

No it doesn’t relate to holders in this ex IN THE STYLE cash shell it relates to the company formed when the business was bought by Baaj and AF went and continued with them. Unbelievable isn’t it! So they are now doing an RTO with ICON apparently the ltd company that was born out of the sale! Shareholders here must be ffing furious at the irony as there’s a cash shell sitting here but now they’re returning to the stockmarket via RTO with ICON after shareholders lost everything here! Has nobody worked this out yet! It’s quite vomit inducing. IMHO DYOR

Let me get this straight so ICON are doing RTO with IN THE STYLE Holdings 23 LTD after the original listed IN THE STYLE company delisted original ticker ITS last year via shareholder vote citing after strategic review their current poor liquidity position and they shafted shareholders by not even doing a raise or loan!It was then bought cheaply by another private buyer for 1.2 million who seems to buy up cheap businesses/brands. CEO and founder AF had a huge holding hence won the vote - the deal was only completed if he remained with the new company off the market. The vote went in favour of delist from stockmarket as he had the majority votes. In the time it was listed they needed funds but didn’t ever raise on the market apart from the original IPO - why on earth not? In a short period of time they were listed 18 months from memory (15th March 21 IPO)the share price plummeted until it was peanuts. He then went off into the sunset with the private buyer Baaj Capital and now it’s returning via a RTO with ICON 12 months later Jesus!? Original ITS holders must be fuming! ITS plc is currently suspended and is just a cash shell with a few 1000 k after two people stepped in to halt a winding up petition to try to do something with it - on the irony! I can’t see appetite for investing in the new ITS when so many people lost so much cash or indeed from ii either! So not the AI company so many were relying on! I suggest holders of ICON hop along to the old ITS board and look at the RNS’s especially the March 2023 one and you’ll see the story of what happened! IMHO DYOR

Https://albertacourts.ca/docs/default-source/qb/cal01---2470918-v2-ccaa-order-(alberta)---jakr-markup65b9d3391b316d6b9fc9ff00001037d2.pdf?sfvrsn=e986ad80_4

If this is made publicly able to view then the actual company application will be very interesting reading to see what names on the blanks are filled in! IMHO DYOR

DNP there’s every reason for the drop! The fact nothing until QUARTER 3 that could indeed mean end of August just to begin so results from the EWT could arrive even in October/November ! In between all of this no revenue and no cast iron guarantees even this will play out positively then mix in another raise or two so more dilution it’s very much time to panic. They’ve handled this appallingly with an over promise and unfortunately no delivery if it even happens until end of the year! Rampers with their daily we’re going to be millionaires ..unfortunately not! IMHO DYOR

One thing is now they’ve applied for the CCAA process we should be able to see all the filings publicly now shouldn’t we? So perhaps a bit of light being shone in dark places re facts and figures on debt versus asset values! IMHO DYOR

Looks like this is going full sub 1.00 and isn’t stopping any time soon. Company over hyped and isn’t delivering anything if at all until QUARTER 3 and then you’ll have to wait for EWT results that could take ages on top! Same old same old modus operandi! IMHO DYOR

So there will be a PLAN OF ARRANGEMENT issued so do we actually get to vote on this like the process outlines?

Typically, when the shareholders of the company are impacted by the Plan of Arrangement, they are often given the opportunity to vote on the Plan? Looks like it! IMHO DYOR

‘The process begins in the Court system when the company applies to the Court for protection under the CCAA. The Court will issue an Order giving the company 10 days of protection (often referred to as the "Stay") from its creditors to allow for the preparation of the Plan of Arrangement. The Court can extend the Stay against the creditors upon further application to the Court by the company. Typically, the Court will continue the protection beyond the initial 10-day period if the company can demonstrate that it is likely that it will file a Plan of Arrangement and an extension of the Stay is not prejudicial to the creditors, as a whole. There is no time limit on how long the Stay can be extended. During the Stay period, the company will often continue operating, although it may commence restructuring activities at any time.‘

‘The Plan of Arrangement is the proposal that the company is presenting to its creditors on how it intends to deal with debt it owes at the time of the initial filing with the Court. There are no restrictions on what the Plan can entail. It is not uncommon to see offers to pay a percentage on the dollar of debt, either as a lump sum or over a period of time. Plans can include an offer of shares of the company in exchange for the debt outstanding or a combination of cash and shares. T The Companies' Creditors Arrangement Act (commonly referred to as the "CCAA" or the "CC, double A") is a Federal Act that allows financially troubled corporations the opportunity to restructure their affairs. By allowing the company to restructure its financial affairs, through a formal Plan of Arrangement, the CCAA presents an opportunity for the company to avoid bankruptcy and allows the creditors to receive some form of payment for amounts owing to them by the company.‘

Yes Drago what have Anavio actually achieved apart from shooting themselves in the foot now? The other bond holders must be furious with them too!Maybe this is the best move for the time being, I also like the fact that scrutiny will be applied here by a Monitor and everything has to add up…IMHO DYOR

Builder FFS ramping lol I’ve literally just listed the entire process for the ffing The Companies' Creditors Arrangement Act formal process you utter clown so shareholders know what the process is in its entirety at the moment we have entered a protective wrapper! If you’d like to disagree with Canadian law feel free to post your comments but take it up with the Canadian court not me mate! IMHO DYOR

We’ve had 4 days of pure manipulation since the announcement and endless pullbacks to fill clear buy orders as we’ve seen printed. With such a tiny free float it’s inevitable but the shake out must be coming to an end as any minded sellers now have sold up and anyone left now, is holding tighter for the offer and looking to buy more! IMHO DYOR