Slightly embarrasing...

doe808

.. market statement number 271.

https://otp.investis.com/clients/uk/goldstone_resources_ltd/rns/regulatory-story.aspx?cid=1561&newsid=1385145

I'm not sure how the first line of the second paragraph even works !

Thrugelmir

Until the requisite documents are filed by the Company then all trading in the shares is suspended. If you hold the shares you are in limbo at the current time. 

worldtraveller

"The Company has requested the Suspension as a result of having just become aware that the Company has been dissolved by the Jersey Registrar of Companies (the "Registrar") with effect from 1 October 2019."

So, allegedly, the company officers were not even aware, until now, that the company had been dissolved, over 6 months ago!  That, despite apparently having Dissolution Notices issued three times, on the 1st October & 7th November 2019, and on the 22nd January 2020!

It appears from the JFSC Companies Registry that the last Public Accounts, filed in September 2018, were for Year Ending 2017. The Public Accounts for Year Ending 2018 would have been filed in September 2019, but do not appear to have been filed at all.

All very strange! I suppose it could just be 'administrative error'. That, or total incompetence, or, of course, something worse.

masonic

While it's obviously embarrassing for the company, investors were trading this share completely unaware the company was dissolved for 6 months and it doesn't appear any of them noticed. Surely even the most rudimentary DD would lead someone to keep an eye on filings here. Surprised nobody tipped off LSE.

doe808

worldtraveller said:

"The Company has requested the Suspension as a result of having just become aware that the Company has been dissolved by the Jersey Registrar of Companies (the "Registrar") with effect from 1 October 2019."

So, allegedly, the company officers were not even aware, until now, that the company had been dissolved, over 6 months ago!  That, despite apparently having Dissolution Notices issued three times, on the 1st October & 7th November 2019, and on the 22nd January 2020!

It appears from the JFSC Companies Registry that the last Public Accounts, filed in September 2018, were for Year Ending 2017. The Public Accounts for Year Ending 2018 would have been filed in September 2019, but do not appear to have been filed at all.

All very strange! I suppose it could just be 'administrative error'. That, or total incompetence, or, of course, something worse.

https://m.londonstockexchange.com/exchange/mobile/news/detail/14461781.html

Fundraising as well during this period?!

How did no one notice!

worldtraveller

doe808 said:

worldtraveller said:

"The Company has requested the Suspension as a result of having just become aware that the Company has been dissolved by the Jersey Registrar of Companies (the "Registrar") with effect from 1 October 2019."

So, allegedly, the company officers were not even aware, until now, that the company had been dissolved, over 6 months ago!  That, despite apparently having Dissolution Notices issued three times, on the 1st October & 7th November 2019, and on the 22nd January 2020!

It appears from the JFSC Companies Registry that the last Public Accounts, filed in September 2018, were for Year Ending 2017. The Public Accounts for Year Ending 2018 would have been filed in September 2019, but do not appear to have been filed at all.

All very strange! I suppose it could just be 'administrative error'. That, or total incompetence, or, of course, something worse.

https://m.londonstockexchange.com/exchange/mobile/news/detail/14461781.html

Fundraising as well during this period?!

How did no one notice!

Indeed! You have to wonder exactly what due diligence there was, if any, by any of the parties involved, and/or their respresentatives, when the company was, it appears, dissolved at the time!

I found an interesting legal briefing on the subject from a law practice in Jersey here:

Jersey companies can be dissolved either through (i) formal procedures contained in the Companies (Jersey) Law 1991 (the “Companies Law”) or the Bankruptcy (Désastre) (Jersey) Law 1990 which provide for the solvent and insolvent winding up of Jersey companies or (ii) as a result of being “struck off” under the provisions of Article 205 of the Companies Law following, for example, a failure to submit the annual fee and file the annual return to the Registrar of Companies (the “Registrar”) in Jersey. If the Registrar has not received the necessary payment/annual return filing by the end of February in each year following the incorporation of the company, then a notice will be sent to the registered office of that company and if there is continued non-compliance for a further period of three months then, at the end of that period, the company will be “struck-off” the Register of Companies pursuant to Article 205 of the Companies Law. A gazette notice is subsequently published in Jersey which discloses the list of delinquent companies......

Reinstatement of a Jersey company - Voisin Law

It appears from the RNS that the company Board "has taken and will take all requisite action for the Company to be reinstated by the Royal Court of Jersey (the "Royal Court") as soon as practicable." This subject is also dealt with in the above briefing.