Reverse takeovers
14. A reverse takeover is any acquisition or acquisitions in a twelve month period which for an
AIM company would:
� exceed 100% in any of the class tests; or
� result in a fundamental change in its business, board or voting control; or
� in the case of an investing company, depart materially from its investing policy
(as stated in its admission document or approved by shareholders in accordance
with these rules).
Any agreement which would effect a reverse takeover must be:
� conditional on the consent of its shareholders being given in general meeting;
� notified without delay disclosing the information specified by Schedule Four and
insofar as it is with a related party, the additional information required by rule 13;
and
� accompanied by the publication of an admission document in respect of the
proposed enlarged entity and convening the general meeting.
Where shareholder approval is given for the reverse takeover, trading in the AIM
securities of the AIM company will be cancelled. If the enlarged entity seeks
admission, it must make an application in the same manner as any other applicant
applying for admission of its securities for the first time.
27. A further admission document will be required for an AIM company only when it is:
� required to issue a Prospectus under the Prospectus Rules for a further issue of
AIM securities; or
� seeking admission for a new class of securities; or
� undertaking a reverse takeover under rule 14.
AIM RULE 29
Applications for further issues
29. At least three business days before the expected date of admission of further AIM
securities an AIM company must submit an application form and, where required by
rule 27, an electronic version of any further admission document.
Where an AIM company intends to issue AIM securities on a regular basis, the
Exchange may permit admission of those securities under a block admission
arrangement.
Under a block admission an AIM company must notify the information required in schedule six every six months.
they have stopped paying ,unnecessary wages , spending right down , smaller office , a team that on paper seem more clued up , a major shareholder pushing for a better price , next year could see some nice surprises ,i can see the slow rise continuing from here , very little downside from here ,,,imho
at least with the new directors ,they keep us on the ball with the constant updates and news ,,,,,,,,,,,,,,,,,,,,,,,,,,,not like kh ground hogs day with this share,
we should get a rns soon ,,
as the extension is coming to a end
The Company is pleased to confirm that discussions regarding the proposed farm-out are progressing and Bowleven and VOG continue to work with the Government of Cameroon to advance the Bomono project. Consequently, VOG has elected to exercise its option to extend the termination date of the Agreement to 28 September 2017.