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Have a look at SAS whilst you wait for this to come out of suspension.
Rick cross ramping after his comments here yesterday, you can’t make it up!
Unbelievable, hope he didn't deter too many yesterday, just check his posting history to see how he works ..
Imagine he will have. I’m happy with my money tied up here for now. Better than losing it elsewhere and with the RTO news confirmed there’s a good chance of making a fair bit more hopefully.
My interpretation of the FCA rule book is that if the co come out with substantive info on the discussed RTO there’s a decent chance suspension will be lifted. That is if they choose to do so and if they want to lift it. Your guess is as good as mine but given it is their strategy after a very long process of rebuilding the business then I’d say there is a good chance! Fingers crossed and good luck.
GB, when it surged yesterday on nothing , market police would have contacted the company, it is then the companies responsibility to respond, which usually comes in an RNA over the rns news wire, NO KNOWN reason for rise, or a small amplification of what has been said before, as reported we continue to........etc
They did not give a satisfactory answer to Mr Market or an RNA response, so the Market Suspended us, what they gave us this morning was feeble and could have been done yesterday, prior to the Market acting ahead of the company. 🙄
A simple update yesterday would have saved the suspension, until they report in advanced stage, when it is normal for companies to be suspended pending, deal done (takes what it takes) and the submission of the new combined company prospectus and then permission to rejoin the same or other market, aim to main, main lower to upper main premium listing etc.
The final part is commonly 4-5 weeks if all in order, Finances of both/prospectus scrutinised by FCA (2-3 Weeks) then the listed mandatory request to return to trading , 10 working days.
Down to the companies how long it takes to do the deal and sign off, then the final two stages of IPO to return. (4-5 w)
as posted yesterday, some I have been in have been granted waivers, one for conditional overlap of the FCA and Market process (it was put as 18-20 days total - did not happen in 20 days)
Another told it could continue trading until the day the deal signed off, this was on a financial basis, could not do the steps of the deal, without tapping the market for finance along the way, it did suspend day of signing (did not come back quickly either) took them an eternity to get the paperwork passed the FCA , ping ponged back and forth for months.
That was due to the RTO company, having a messy box for accounting, some stuff written on napkins and all sort of 🐩💩the company itself suffering as a result as its own in good standing with London.
Understood! Had a good read of the rule book!
I reckon we will hear more detail in coming days!
GB, the majority of RTO's turn out lucrative and worth having been locked in, so always worth a punt if nothing else.
Another recent one crtm went in at 5p, came out and roared to 30p+ think we hit 33p but closed 30p (back to 5p now)
systems only ever record close prices , not the real highs, Solg original rise from 1p to 85p on Solomon Islands Gold spike and closed 38p or something, so that was the 52 wk for the next year.
Went crazy on nothing 225-300+ per ton gold ratings, from ROCK CHIP samples, go figure you pick up a shiny rock and its high in content per ton, was even more of a market embarrassment , when those S.I assets sold off for $1 and assumption of some debts 😂🤣😂 and they moved on to the big finds they now have in South America
You just never know when the herd have heard and all jump in, some crazy MC's result.👍
Even massive dog copl, suspended sub 0.3p and came out 0.80 (or 30p / 80p on consolidation since) as said majority been very good to me, so quite happy to take the odd bad one when it happens. 😠😂
Here now looking good, been restructured, appear to have a specific target company , so all the promised boxes, starting to be lined up and ticked, just none of us have a clue how long it will take, to conclude the initial get the deal done phase.🤔
Likewise companies who abandon current sector and become worthless cash shells, any sniff of news and those often do 200-600% as often languishing at MC of £150k - £300k, big breakout but in the grand scheme of things, still results in a very low MC's in a bargain basement.
They a little more risky, some most on AIM casino and questionable bod, much higher percentage of those, go nowhere never hit a rumour or spike and get suspended under rules of cash shell time limit, far more annoying when you have dosh locked in and nothing happening, or nothing we know of.
Likewise some of those have eventually found targets and returned, be it on multi acquisitions or a full RTO.
ICON, it appears to be the case, a deal was/is in progress and some Richard Head leaked attracting the Markets attention, setting the question and resulting suspension.
Now 🤐🤐🤐🤐🤐zzzzzzzzzzzzzzz, until an RNA update over rns.
Your right! A lot of work has been carried out to get through admin and to this point. The cva news flow was a substantial step forward and talks with part era have been on going for a long time so we can’t be far off now!
Also having the prospectus and funds sorted allows icon to move quickly! They are set up and ready to strike. My target is 20p, which imo is fair and conservative.
Will be a new prospectus required, for the new combined larger company, that may include a change of name also, to reflect what we are now involved in, ICON still remains from the Iconic Laboratories days, before switching to media and now ????????
That new BOD, brought in for a reason, finance and mergers and acquisitions background, they may leave on deal being completed and the new BOD our main guy and some from the target company combined, other skillsets needed. 🤔
Yes with current shares in issue 20p is very conservative, its only £11m MC for a £1 sp
Until they release details, what company, what finance arrangements, with such low shares in issue, more than likely this one will be like some others been in, ICON is given a value, the new company likewise, shares issued to the other company holders at that ratio.
So target company a lowly £5m, that is not a lot of shares if the deal is struck at his target floor of 10p, which it looked like we might be heading back to yesterday, before Mr Market pulled the rug.
Devils in the details, until we see them ZZZZZZZZZZZZZZZZZZZZ Laters GB.
All gravy!! 10p floor sounds apt to me!
Oh and forgot one other item, the other company could be looking for a quick listing and may even have , a lot of cash on its balance sheet, rarely but sometimes happens, new name, shiny new listing and funded to hit the ground running.. l8trs.
"Yes with current shares in issue 20p is very conservative, its only £11m MC for a £1 sp "
Someone on ADVFN, with a reputation for winding others up with their negative commentary suggests,
"However to do an RTO on the Standard List they require an investment of at least £30 million."
Would that be right and how would it affect your sums or thinking?
TIA
That sounds about right. The 30 million bit.