Neos Resources Share Discussion Threads

[as119] 16/7/2014 23:13

I spent quite some time today to find Teelings contact details and no luck :(

[jojo_jo] 14/7/2014 14:09

Thanks Hope.
It's just that the wording was a bit detailed for a PI response eMail. It sounded more like something that would be sent to an insider!

The two major shareholders clearly have sufficient funds... it's just a case of working out the 'split'.

Myerson's son is installed here and this was once Myerson senior's company. I'm sure he intends reviving it and using it as a vehicle for one of Principal's (or his son's) holdings.

IMPO/DYOR/NAI

[hope67] 14/7/2014 13:51

Jo Jo

I explained we as shareholders were getting frustrated at the lack of communication from Neos and asked if they were still acting as Nomad

The answer posted above is word for word from FinnCap just have to wait and see now if they can raise funds.

[jojo_jo] 14/7/2014 12:31

Is somebody here Mr/Mrs Flanagan?

[jojo_jo] 14/7/2014 12:24

Hope,
How much of that is verbatim? Is the '...and therefore I think...' theirs or yours?

I think it's extremely unlikely this will now de-list - it could/would have happened already if that was the case. The LSE would not give them an extension unless they could show something tangible was in the pipeline. The additional funding is obviously available from Myerson/Principal, but I guess Mr Teeling is wanting to retain most of his stake. I'm sure he would, like us PIs, be happy to be diluted in the event of an RTO of, say, a £10m+ company.

It is unlikely that the Tax Losses will still be available, unless the Indian arm is still regarded as operating - at least until due moneys are repatriated.

I think once they agree the percentages between themselves we'll be cooking again, and re-listed.

Any de-listing would be a matter of record and published in the regular LSE factsheet. It could be notified free via the NEOS website or 'historic RNS'. The nomad has, in any event, confirmed that there has been no de-listing.

I suspect we are close to news, as the LSE won't let it drag on too long and must have had assurances to that effect from the company/nomad.

They have already laid the groundwork by lowering shareholder expectations. However, a typical 75% dilution would still be very shareprice positive as it would very likely be accompanied by (or soon followed by) an RTO.

All theories, all academic. Nobody can do anything, except speculate, whilst suspended.

IMPO/DYOR/NAI
Jo

[oilbuy] 14/7/2014 11:57

VuVuZelaIm far from shy.

[hope67] 14/7/2014 09:52

Just asked Finncap if they are still acting as nomad they got back to me straight away.

As of now finnCap continues to act for Neos and there has been no change in its financial position since the last statement made. As you are aware cancellation has not occurred and therefore I think you can take it as read that Neos continues to try to find additional financing.

[godolphin] 14/7/2014 09:26

I did suggest that before but I assumed the investing policy would have to be confirmed at the agm, which hasn't happened. I would have thought the advisers would be free to tell us that anyway rather than "wait for rns".

[hope67] 14/7/2014 09:17

I am clutching at straws now but maybe because we have changed to an investment company they have allowed an extension.

A company's shares are automatically suspended if it is unable to make an investment within the one-year time frame and then, if after a further six months it still has not made any investments, its admission is cancelled. Likewise, a company that is unable to file its results on time also has its shares suspended.

[vuvuzela] 14/7/2014 09:05

oilbuy 13 Jul'14 - 20:50 - 6260 of 6266 0 0
" There was a potential suiter a couple of months ago but that seems to have gone quiet and ive been told it's more or less a dead duck. "

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

OILBUY

Who told you that.

Do not be shy and state the source of your statement.

Who told you

[acta_topup] 14/7/2014 00:34

The cancellation RNS is issued by the stock exchange. They are the ones cancelling the security. To say that the reason is that they haven't paid for the RNS is absolute rubbish - plenty of BANKRUPT companies are delisted all the time. The state of affairs here is just bizarre and stretches credibility - EVEN FOR AIM!

[aidenabettin] 13/7/2014 22:45

Nomad resignation should be announced first if it is all over to at least clear their name.Very unusual chain of events or non events as the case may be here.It cant go on indefinitely so I imagne we will know sooner rather than later what is to happen.

[oilbuy] 13/7/2014 22:21

Some of the main holders here are at a loss for what's going on. The whole thing is a disgrace and is an example of what can happen with laxed AIM rules.

[hope67] 13/7/2014 22:14

Oilbuy

Any info is appreciated good or bad you would just think they would have the decency to update us after all as far as I am aware we do have enough funds for a rns how much is it £150?

[oilbuy] 13/7/2014 21:12

Hope67 I said I'd ask. I know it's not what we want to hear.

[hope67] 13/7/2014 20:54

If they were going to be de-listed they wouldn't need a nomad and would surely have to give Finn cap notice.
Hope we get a rns this week explaining everything.

[oilbuy] 13/7/2014 20:50

Acta who's going to pay for the RNS ? This is tied up with lawyers and i don't suspect the Nomad has done a good job either. There was a potential suiter a couple of months ago but that seems to have gone quiet and ive been told it's more or less a dead duck. The reason their is no RNS is because their seems to have been a big falling out and nobody could be bothered paying for it. After all it's NEOS that has to put out the RNS and no responsibility on a soul individual.Let's hope i'm wrong .....

[aidenabettin] 13/7/2014 19:09

I suspect that heavy fines would be handed out to Neos and the Nomad if they have failed to act within the timescales set out by the AIM rules.I just cant see Finn cap putting themselves in this posistion unless there is a very good explanation for it. Nonetheless a RNS is the least we should expect explaining the current situation regarding the delisting timescale that has elapsed(6 mths by date to 23rd june).Everything must be happening within the rules and we may be saved yet.

[acta_topup] 13/7/2014 16:53

in all my previous experiences with cancellations the RNS is ALWAYS exactly on time, as if it's automated. anyone know of any examples when this wasn't the case???

[hope67] 13/7/2014 16:41

oilbuy care to elaborate

[acta_topup] 13/7/2014 16:26

if the listing is gone there should be a cancellation rns - why isn't there one?

[oilbuy] 13/7/2014 15:43

The tax loss is gone at this stage and more than likely the listing.

[as119] 13/7/2014 15:18

Whose putting their money for an RNS this week :D

[whoppy] 11/7/2014 19:55

It's the £100M tax losses!..a viable company not listed will want some of that...ha!