NOMINATED ADVISER
Central Rand fights to retain AIM listing
Troubles for Central Rand Gold have mounted with the London Stock Exchange ruling that it effectively no longer had a nominated adviser and that it had just weeks to find a new one or terminate its presence on the Alternative Investment Market (AIM). Central Rand, which is in dire financial difficulties and from which CEO Lola Trollip has just resigned, could fast be approaching the end of trading on AIM, said Yuen Low, an analyst at Shore Capital in London. "Back in February 2017, we opined that if Central Rand Gold were a living creature rather than a company, it would have been administered a bullet of mercy a long time ago," the analyst said. The bourse’s decision to remove ZAI Corporate Finance’s status as a nominated adviser could well be the "final nail in the coffin" for Central Rand’s listing in London, Low said. The departure of ZAI will happen on October 19 and, normally, if the nominated adviser was not replaced within a month, the listing would be terminated. Central Ra...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.