San Leon Energy Share Discussion Threads

[pastyman3851] 21/12/2021 12:01

Kind of a non event PVRs update on Barryroe yesterday, but still I guess it's a positive that it hasn't faded away into nothing

[1kempton] 20/12/2021 14:57

I think carcosa illustrated this perfectly last week..

[alaric7] 19/12/2021 09:18

thanks carcosa. not stupid, kempton, more like mischievous. maybe Jane will now apologise for attempting to mislead the readership if this board or subsequently be held in contempt each time she dares to appear on it

[1kempton] 18/12/2021 22:14

On the button carcosa, plain Jane is that plain stupid

[carcosa] 18/12/2021 16:58

"An AIM company which wishes the Exchange to cancel admission of its AIM securities must notify ..."

San Leon are not doing this. Rule 41 does not apply.

Rule 14 applies: "A reverse takeover is any acquisition or acquisitions in a twelve month period..."

Which is resolved by publication of an admission document in respect of the
proposed enlarged entity and convening the general meeting.

Even if the 12 month period is exceeded then alleviation for an extension can be sort via the Nominated Advisor.



Incidentally, AIM listed company PCF Group (PCF) have been suspended more than 6 months (7 months)for failing to publish accounts which is a far more heinous 'crime' yet remain listed... (for now)

[janekane] 18/12/2021 14:26

otice. Cancellation
41. An AIM company which wishes the Exchange to cancel admission of its AIM securities must notify such intended cancellation and must separately inform the Exchange of its preferred cancellation date at least twenty business days prior to such date and save where the Exchange otherwise agrees, the cancellation shall be conditional upon the consent of not less than 75% of votes cast by its shareholders given in a general meeting.
14

The Exchange will cancel the admission of AIM securities where these have been suspended from trading for six months.
Cancellations are effected by a dealing notice.

[janekane] 18/12/2021 08:58

Plasybryn good question again google the Aim suspension rules
Read and understand from the Aim site not from Advfn bbs

[plasybryn] 17/12/2021 08:59

Isn't the suspension timescale extended due to Covid?

[red5] 17/12/2021 08:54

And then what?

[janekane] 16/12/2021 16:01

44.5 trading hours left before they lift suspension that expires 24/12/21

[red5] 16/12/2021 15:32

Is the clock ticking are they about kicked out on the 24th dec 2021 would we look at getting a re-rating on the 24th if so anybody hazard a view

[janekane] 16/12/2021 13:43

Your very impatient just relax and you’ll see soon enough



At the request of the Company trading on AIM for the under-mentioned securities has been temporarily suspended from 24/06/2020 9:45am, pending an announcement and publication of an admission document.

[red5] 16/12/2021 09:03

Apart from being Xmas eve what's going to happen then?

[janekane] 16/12/2021 08:52

24th December

[red5] 15/12/2021 14:44

9 days for what?

[janekane] 15/12/2021 12:44

9 days left

[red5] 15/12/2021 11:30

what is going on with this i am still none the wiser on this investment.

[janekane] 06/12/2021 07:52

Again thanks for your reply and updating the board

[carcosa] 04/12/2021 08:28

Jk, see coronavirus section here:

There was also a subsequent 'Market Matters’ publication but for the life of me can't find it now.

[1kempton] 03/12/2021 21:13

Correct Carcosa.. common sense prevails...

[carcosa] 03/12/2021 15:15

Sorry, I thought you were referring to delisting rules related to length of time being delisted.

WHat will happen; assuming the RTO occurs, the listing for San Leon Energy will ultimately be cancelled although in practice cancellation San Leon's admission and the re-admission of the enlarged group will occur simultaneously, meaning that in practice existing shareholders will not notice anything of concern.

[pejaten] 03/12/2021 08:53

surely the rules you referring to relate to cash shells and investing companies only?
SLE is only suspended because the acquisition is so much larger than the existing business. In these circumstances, rule 14 clearly states that "where shareholder approval is given for a reverse takeover, trading in the AIM company will be cancelled. If the enlarged entity seeks admission, it must make an application in the same manner as any other applicant". In other words if the RTO takes place the existing listing will be cancelled anyway and SLE will have to apply to be readmitted

[janekane] 03/12/2021 07:24

Carcosa can you copy and post the rule change you reference to regarding suspension
Thanks in advance It’s a good position to be in if someone like you has this vital information at hand

[pejaten] 02/12/2021 03:53

I would imagine that SLE will raise fresh cash and / or give some of the exiting large investors chance to sell down when relisting?