apologies for misuse of this thread but i know it gets read.

i hold GIP and the following info came out on fri 20th mar
no NOMAD appointed and AIM admission cancelled wef 0700 monday morning.
does this mean my shares aren't worth the paper they are written on?
shares on the ASX suspended too vice awaiting 2008 figures.
anyone furnish me with an answer.[no response from GIP thread, prob only me using it]

thanks in advance
Alex

Alex - I don't think it's misuse of the thread. It's hard to misuse something with hardly gets used :-) And in theory it's here for non-subscribing members to discuss their stocks on an intraday basis.

I've no previous knowledge or experience with GIP, but I've taken a look over the situation in the last few minutes and I have to say that in my opinion it doesn't look good. A NOMAD resignation is often a bad sign, and GIP have lost their NOMAD and both joint brokers (albeit one of them was the NOMAD). The 11/02/09 statement states they'd been seeking an alternative for two months prior to the resignation, two weeks ago they said discussions were well advanced, but now they say they can't get one and have to effectively de-list. A placing of 4.5 million shares two weeks ago to raise a mere 45,000 makes it seem like they're struggling just to pay the wages/basic expenses, and their accounts are delayed. To my mind it looks like nobody will touch this, a bad sign.

I think you've got to prepare yourself for a write-off, but without further digging I don't know what their precise financial and business development situation is. They'll save between 250,000-400,000 a year on the cost of the AIM listing and UK advisors, so maybe that will help them survive if they get through their current crisis.

thanks Kyoto

End-of-day Market Overview

robertalexander: Please feel to use this thread for any investment related issues or
questions. There are a lot of wise heads out there who read the thread without
necessarily posting anything, and they are usually happy to help if they can.

Good luck with GIP.

G.