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I don't know what's happening with ITS but I do know AIM better than most. If ITS have had a setback but still wish to continue with the RTO then they can get an extension to the 6 months, as long as they can demonstrate a clear path to completing the transaction within a reasonable timeframe. All is not lost.
Well golfdinger, i think they may be a issue with the y/e 2023 accounts, as in that tax year inthestyle had a change of name, was sold and a cash shell was left, not quite a simple y/e tax return and as we know, rto with inthestyle, under the holdings of its2023 holdings ltd doing a rto with iconic,
does that all make sense?
gla
Phewwww
made my self dizzy just reading it.
lol
I highly doubt that's the issue Jimmy, there's far more complicated accounting issues that are solved on a daily basis. If they wanted to file the accounts it would be easy enough to get an auditor to prepare and file.
Worth reading AIM Rules for Companies.doc at the London stock exchange.
Rule 15 & 40: There is a passage or two that suggests we will get an RNS one way or another as shareholders need to be informed of the decision to delist. Though implicit in the suspension RNS, do we have not have to be directly informed by the company of ITS intentions/reasons?
But, AIM, the fsa and regs. Ha.
( GLA ).
Good game guys - better luck with the next one.
I have to agree that it’s not only disappointing it’s a tad scummy that there hasn’t been any confirmation. They have free reign to whatever they want… what chance has anyone got with these balding fat old bloaters sucking the life out of everything.
It's not over. It's happening.
Im not seeing how it can be still on.
Now we know there will be an RNS at 7am tomorrow telling us ITs is delisted. Directors can’t even be bothered to inform us we’ve lost our money. Great bunch of guys eh
Yes not looking too good right now, but as Goldfinger states below, ITS can request an extension. I seem to remember this happening to the predecessor of CIZ, which was suspended for 18months ish prior to RTO (and to be honest, should've stayed that way, it's been a disaster for investors)
See below from a market screener article from September 23.
Itsarm PLC - formerly In The Style Group PLC, a cash shell since March after selling its only operating subsidiary In The Style Fashion Ltd - Confirms shares will be suspended from September 28 after failing to complete a transaction which qualifies as an AIM Rule 14 transaction.
Continues to actively consider several business acquisition opportunities. Of these, there are two opportunities that the board are particularly focused, one of which is a consumer/retail focused business, with the intention of undertaking a qualifying AIM Rule 14, reverse takeover, transaction by March 27 2024. If no such transaction is completed, admission to trading on AIM will be cancelled on March 28 2024.
Yeah. It’s toast. Bad luck. Profit sadly not making its way into any of our bank accounts tomorrow or for the rest of this week.
Hmmmm , no 7am delisting RNS yet ?
Do they need to give us an rns when they’ve told us in sept
Yes imho. No news is good news hopefully? Maybe?
They told us regarding suspension on the 27th, but still conformation on 28th last rns.
It says it will be delisted at 7am today. So far its still suspended. More time award?