Guys,
I'm reasonably new to the market and been lucky enough to make a few pounds along the way but still finding my feet. Can anyone give me some pointers on where to go with the holding i have in ROC - i've just found out they will be delisting in November. Should i sell what i have now? Sorry if this is a stupid question but i know there are a lot of experienced heads out there who make a living from this.

thanks

Al

From shares Mag this week:
"Depending on your viewpoint, the chart of Australian oil firm ROC has shown either a completed headand-shoulders pattern or a bull pennant. Either way, last month's rise in trading volume and upside breakout from resistance at 34p are both bullish signs and I expect the shares to move to 64p for 64% upside.
ROC, which has most of its production and reserves in China, looks set to make further moves upward as it recovers from a sell-off whose origin lies way back in July 2006. The shares plunged from a peak of 186p all the way down to 15p, although the subsequent rise since March of this year has been no less dramatic, as they more than tripled in value to hit 44p by June.
That sort of move inevitably results in an overheated and overbought condition, but the resulting correction was mild,which suggests the market retained its faith in the story. By mid-September some would have read the chart as having completed a head-and-shoulders pattern, though the neckline was never broken through. Such formations can sometimes fail in this way and then become a continuation pattern that marks the midpoint in a larger move. Whichever way you look at the chart - and I have also drawn a bull pennant as an alternative viewpoint - a persistent rise in trading volumes and an upside breakout from resistance at 34p convince me the shares are heading toward 64p. This would represent a rendezvous with the level that put a floor under the shares all the way back in 2004 and early 2005. This would now be expected to offer resistance ahead of the other major support and resistance line on the chart at 84.5p, which coincides with the 61.8% retracement of the last major leg of selling seen in the second half of last year.
Ahead of the 64p level, technical analysts should look for the possible channel upper return line (drawn as a broken line on the chart) to figure close to 51p. At 58p, the 38.2% retracement of the fall from May 2008s minor high of 128p could also potentially test bulls' resolve but only a slip back below 32p would now negate the positive outlook."

14 SEP 09

"ROC today announces that the admission of its ordinary shares to trading on the AIM Market of London Stock Exchange plc ("AIM") will be cancelled with effect from 8.00 a.m. on 2 November 2009. The last trading day on AIM will be 30 October 2009. ROC will continue to maintain its listing on the Australian Securities Exchange ("ASX").

This decision has been made following a careful review of its AIM quotation by ROCs Board. The Board considers that the costs incurred to administer the additional regulatory compliance requirements and to maintain the AIM quotation now exceed current and potential future benefits ROC could obtain from the quotation. In making the decision, the Board has given particular consideration to the changes in ROCs asset portfolio, strategic focus and share register. The Board looks forward to the continued support of its AIM shareholders though its ASX listing.

Further information on the cancellation of admission to trading on AIM

Computershare, acting in its capacity as share registrar and custodian to holders of Depository Interests ("DIs") in ROC, will be writing to all DI holders on 15 September 2009 to advise them of the cancellation process.

ROCs last trading day on AIM will be 30 October 2009. Up to and until this date, ROC's shares will continue to be traded on AIM. Following cancellation, DI holdings in ROC will be transferred to the Australian based share register maintained by Computershare and an updated holding statement of ROC shares will be issued to DI holders. If shareholders wish to sell their DIs before transfer to the Australian share register, they must do so prior to the date of cancellation.

ROC will continue to maintain its listing on the ASX and, as such, cancellation will not be conditional upon shareholder consent. DI holders wishing to trade ROC's shares after the date of cancellation will be able to do so through the ASX. Further information will be provided in the letter to DI holders.

ROC will continue to comply with all accounting and regulatory requirements for an Australian company listed on the ASX. "

Not one I follow, but interesting to note that either Shares Mag have chosen to ignore the delisting, or are not aware of it.
I used to have shares in an Aus Co, (AMP) but trading them was virtually impossible & all transactions had to be done through Computershare as Selftrade (then Comdirect) didn't trade on the Aus stock exchange. Maybe best to see if your broker has a link with the Aus exchange. If not, my experience is that you are at the mercy of Computershare who will probably offer you a deal initially, but once that deal expires, you are at a disadvantage.

Harrycat,
Many thanks for your information and thoughts on this. Its much appreciated.

Al