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Quick question, if either party makes a bid by the 22/29th, will shareholders have the option to accept and sell or do we have to wait until the shares are "un-suspended" to sell (potentially end of Q3)?
I think that the shares will still be suspended until they submit the audited accounts.
We dont need to wait for audited accounts / when offer arrives we are back trading to accept the offer.
Are you sure? As I read it as they need to submit them to come out of suspension?
As 30 June 2022 was the last date permitted for publication of the FY21 Results under the Financial Conduct Authority's ("FCA") Disclosure Guidance and Transparency Rules (as modified by the temporary relief granted to all listed companies by the FCA on 26 March 2020) and the FCA's Listing Rules, following consultation with the FCA, the Company requested that the listing of the Company's ordinary shares of 5 pence each ("Ordinary Shares") be temporarily suspended. Temporary suspension took effect from 7.30 a.m. on 1 July 2022.
The Company intends to request a restoration of the listing of its Ordinary Shares on publication of the FY21 Results. The Group continues to work closely with its auditors to ensure that the FY21 Results are published as soon as possible. This is expected to be before the end of Q3 2022.
So any time before the end of September. I would say they would need them completed asap, before a bid is made as not many companies would bid for a business without seeing the audited accounts.
I think it will go something like this - Here are the end of year results they are not the best but BOOM! We have a bid of 15p from Blofeld and 20p from Sami Al Angari and Al Gihaz which is 20p and we recommend that we take the 20p bid! :D
On a serious not, even if Sami Al Angari and Al Gihaz does not bid but Blofeld does I can see them making money on the 8.5p - Lets me honest they are in a win win situation! As Blofelds offer will be around 15p in my opinion
Offer comes latest on 29th of July - trust me we will reactivated but you only can sell at fixed price
Thanks for your replies regarding this matter. I have emailed IR to see if they can provide an answer and will post the reply if forthcoming
No answer from Lamprell regarding effect of bids on suspension, tried AJ Bell and they cannot help. Sry guys
Only 14 trading days to go....
Until the 29th July
RNS out , offer been made …..