Itsarm Share Discussion Threads

[johnjames876] 09/6/2023 10:32

Some stupid utter gamblers aroundn

[jameshendrix2023] 09/6/2023 08:45

Dump the dog

[babbler] 09/6/2023 08:18

Hilarious really

[tomboyb] 09/6/2023 07:33

having a run -

[terminator101] 05/6/2023 11:48

There will be gnashing of teeth from the gerbils about this. Mark my words.

[johnjames876] 05/6/2023 11:06

What muppets are buyingn

[tomboyb] 05/6/2023 11:00

A bit weird -

Company sold for £1.2mill and shareholders likely to get sh*t -

[tomboyb] 05/6/2023 10:06

Itsarm PLC Proposed Compulsory Liquidation
05/06/2023 11:05am
UK Regulatory (RNS & others)

Itsarm (LSE:ITS)
Intraday Stock Chart

Monday 5 June 2023

Click Here for more Itsarm Charts.
TIDMITS

RNS Number : 6638B

Itsarm PLC

05 June 2023

For immediate release

5 June 2023

Itsarm plc

Proposed Compulsory Liquidation

Itsarm plc (AIM: ITS) ("Itsarm" or the "Company" ) announces that, further to the announcement on 26 May 2023, the Company's directors have assessed the solvency of the Company and concluded, in consultation with their advisers, that steps should be taken for the Company to enter compulsory liquidation.

The directors consider that, taking into account the Company's contingent and prospective liabilities, there is a significant risk that creditors of the Company would suffer detriment if the Company was not placed into a formal insolvency procedure immediately.

A creditor's voluntary liquidation ("CVL") is not considered appropriate for the Company, given the material risk that, if a special resolution was put forward for the Company to be wound up and liquidators appointed as part of a proposed CVL, a similar outcome would arise to that in relation to the member's voluntary liquidation proposed at the adjourned general meeting of the Company on 26 May 2023. Such an outcome would mean that the Company would be forced to continue to trade and incur the costs of an unsuccessful CVL proposal, which would likely be detrimental to the Company's creditors.

Accordingly, the directors have resolved to make a petition to the High Court that the Company be wound up. A further update will be made in due course regarding the timing of the hearing for such petition and any subsequent order to wind up the Company.

Enquiries:


Itsarm plc via Hudson Sandler
Jim Sharp, Director
Richard Monaghan, Director
Hudson Sandler [phone]
Alex Brennan [e-mail]
Ben Wilson
Liberum Capital Limited (Nomad and Broker)
Clayton Bush
Scott Mathieson
Miquela Bezuidenhoudt [phone]

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on

[johnjames876] 31/5/2023 07:56

The it's pump is deadNext rns suspension

[eyeofthetiger] 30/5/2023 07:50

Brokers blcoking trades. That's all you need to know here. Floodgates will open v. soon. Ciao for now.

[wrecktangle] 30/5/2023 06:35

No speeding ticket. I have a feeling this stock is about to recover and recover big.

300K market cap is why this will get loaded. Good luck

[eyeofthetiger] 29/5/2023 22:59

Glorious bit of info read. Highly recommend my followers to buy. There's a perfect storm coming.

[markliddiard] 26/5/2023 12:05

More buys are coming in - perhaps this is going to bounce up again?

[supercity] 26/5/2023 11:18

Look at all the Lemmings - company will still close, just not today.

[mally6] 26/5/2023 10:53

It's not delisting so there's got to be a reason let's see what unfolds all depends on the plan

[genierub] 26/5/2023 10:44

Mally where do you see this going? Every channel I am is buying this up. What's your target? Looks like all the 60s are about to go.

Can you see this back at 7p when it was announced they were going to delist?

[tomboyb] 26/5/2023 10:35

Should give PEEL a chance to offload its 10% -

I suspect we could see an RNS -

[mally6] 26/5/2023 10:27

It's the jp Morgan 10% purchase that's of interest here I think the purchased at 0.50 so what's the plan and have they increased so to find out holding strong

[kimchi1] 26/5/2023 10:21

From the previous RNS:
"If the Resolutions are not passed, the proposed
liquidators will not be appointed and the
Cancellation will not take place. As such,
as set out in the Circular, it would be likely
that within three months the Company would
not be able to meet its financial obligations
as they fall due and there would be no alternative
other than for the Company to enter into
some form of insolvency procedure under which
the prospects for recovery of value, if any,
by Shareholders would be unlikely "

Well done if you made money here, but seems a good time to take profits ?

Eneraqua Technologies plc (ETP) might be a good place to look at ;-)

[mally6] 26/5/2023 10:12

Dave you were saying

[genierub] 26/5/2023 09:46

Ive got another one boys.