I am pleased to inform you that the company has now signed an agreement with a liquidity provider in relation to the trading of the shares, of the company, on the Vienna Stock Exchange.
In order to facilitate the trading of the shares there are still a number of steps to go through. One is that the company under the terms of the agreement with the liquidity provider is required to appoint an institutional custodian to hold shares in reserve in order that shares are available to the liquidity provider. This we are actively working on to set in place. Secondly we will be applying to the Vienna Stock Exchange to move to the Direct Market Continuous Trading platform which we believe will make our shares more accessible.
I would like shareholders to note that the role of the liquidity provider is not to deal directly with individual shareholders. The role of the liquidity provider is to provide liquidity in the shares for brokers and institutions who approach the liquidity provider on behalf of shareholders. Some shareholders have taken it upon themselves to contact the liquidity provider direct which had caused a considerable amount of concern with the liquidity provider and we have had to recover the position with them and provide assurances. Contacting the liquidity provider in advance has ‘put them on notice’ to some shareholders intentions and I leave it to shareholders to judge the effect such actions may have on the liquidity provider and their ultimate setting of the trading price.
Whilst writing I also would point out again that the company is not able and will not divulge information to individual shareholders. All shareholders have to be treated equally under Stock Exchange and FCA rules. Any information to be imparted to all shareholders will be via updates and on our website.
Our accounts for the year ended 31 December 2020 are prepared but not yet audited. Due to staff shortages caused by the pandemic our auditors have indicated that there may be a delay with the audit. We therefore applied and were granted by the Secretary of State an extension for filing the accounts for the year ended 31 December 2020 by the end of this year and this has been reflected at Companies House.
I look forward to providing you with further information shortly.
Chairman - Wealth Dragons Group PLC