Merchant House Share Discussion Threads

[zitec] 23/10/2012 12:20

The regulator we are talking about is the AIM regulator and not the FSA regulator as The Ross mentions?

[mike111d] 23/10/2012 12:07

dr samsam, in this instance the nomad, would not be comfortable with taking direction from the company on this matter at this time. I just hope for you that they do manage to finally reach agreement with the regulator. They are in with a shout but no guarantees.

[the ross] 23/10/2012 11:42

Thats a fair point, chief exec sec? Or directly from JH on email?

Do have a concern that the FSA issue and inability to meet the requirements may see it not come back and that then be used as the reason for things to change drastically.

Oh well , it's today or tomorrow.

[dr samsam] 23/10/2012 11:29

Mike,

Where do you got the information re extension from?

[zitec] 22/10/2012 20:31

All that creeping has paid off Mike111D, welcome

[mike111d] 22/10/2012 20:16

You may find the following of some help.

In summary the situation is as follows, the deadline for a resumption in trading or a resultant de-listing was Friday October 19th, which clearly they missed. A 24 hour extension was granted requiring an update today which again has been missed. Thus far they have not been able to reach agreement with the regulator that the stock can return i.e. have been unable to meet the requirements being placed upon them. That said the nomad and the company continue to work with the regulator in an effort to find a solution which may yet see the company return and avoid the otherwise inevitable cancellation of the listing.

As of this evening they have been granted a further stay of execution, which based upon what I was advised appears to provide them with a 24-48 hour window to meet the requirements of the regulator. So the outcome remains in the balance, all is not lost but equally there remains a risk that a cancellation may yet occur.

[mike111d] 22/10/2012 18:42

It would be easier if I could post on the other thread but never mind.

In summary the situation is as follows, the deadline for a resumption in trading or a resultant de-listing was Friday October 19th, which clearly they missed. A 24 hour extension was granted requiring an update today which again has been missed. Thus far they have not been able to reach agreement with the regulator that the stock can return i.e. have been unable to meet the requirements being placed upon them. That said the nomad and the company continue to work with the regulator in an effort to find a solution which may yet see the company return and avoid the otherwise inevitable cancellation of the listing.

As of this evening they have been granted a further stay of execution, which based upon what I was advised appears to provide them with a 24-48 hour window to meet the requirements of the regulator. So the outcome remains in the balance, all is not lost but equally there remains a risk that a cancellation may yet occur.

I hope that you find this helpful and would like to think that they do find a solution in order that you might recover something from this sorry state of affairs.

[loverat] 22/10/2012 18:05

Are these screwed then or is there more time before these are obliged to delist?

I do recall a company involving one director here where they announced suspension and only explained the reason two years later when I set up a thread asking what had happened.

[monkey puzzle] 22/10/2012 16:37

And so the nightmare continues then......

[awja] 22/10/2012 14:09

Better to be 'early' rather than 'late' as in 'The late Merchant House' (RIP).
;-)

[lufc5] 22/10/2012 13:57

The last rns was on Fri' 28th Sept'. I think this was released 'early' and the statement "next month" meant early November.........lol

[officerdigby] 22/10/2012 13:55

Early in this case would hopefully be before delisting!

[monkey puzzle] 22/10/2012 13:53

Can anyone find another way to define early:

early

1. in or during the first part of a period of time, a course of action, a series of events, etc.: early in the year.

2. in the early part of the morning: to get up early.

3. before the usual or appointed time; ahead of time

Can only assume MHG management have a different dictionary that they use to define "early"....

[officerdigby] 22/10/2012 13:46

FFS - Put the punters out of misery! LOL.

[mike111d] 22/10/2012 13:22

Well MP, the relevant contacts at the nomads are in a meeting, I wonder what that might be about. I will leave the directors in peace, as I would not expect a straight answer until the RNS has appeared. I will let you know if I hear anything. All the best folks.

[monkey puzzle] 22/10/2012 12:25

Feel free to phone away...hopefully you might get past the dunces on reception...fwiw....-;

[monkey puzzle] 22/10/2012 12:19

lol......funny how they are never, ever, ever available...not once when I have called in all these years here has anyone ever been available...they must be incredibly busy doing something....wonder what?

[jlo10] 22/10/2012 12:15

I am sure that many of us would like you to give them a nudge
A "Glasgow" nudge being my preference

[dr samsam] 22/10/2012 12:12

I just called them. Apparently, the directors are sitting in a "business meeting".

I wasn't aware they had those...

[mike111d] 22/10/2012 12:12

MP, my comment Re an RNS being due was in respect of them having come up agaisnt the 6 month suspension deadline and at which point they will either have to have agreed upon an extension with the regulator or the stock will be delisted. The nomad was clear about this on Friday when I spoke with them and advised that an update via RNS would be released late on Friday or today, so presumably one will appear today. Would you like me to give them a further nudge.

[monkey puzzle] 22/10/2012 11:58

I see there were suggestions over the weekend that the interim results would be out from MHG first thing today or at least in the morning.....

Well all I can say to that is.....LOFL...some sauces there eh.

I'm not sure I believe anything I read anywhere about these any more.

[mike111d] 21/10/2012 22:26

All the best for tomorrow folks.