Shoal Point Energy Ltd C.SHP

Unusual Delay

[myamigo]

I posted this on the NWN board but the discussion is relevant here.

 

I put together the following table to show the initial date of the halt for several TSX-V halted securities and subsequent date when the TSX-V announced that the halt would remain in effect  ... with the reasons having to do with documentation related to a takeover transaction (Policy 5.2 or 5.3)

 

You can see that at most 5 days passed before the exchange stepped in to extend the halt. NDG is similar to NWN in that they have requested a halt pending news but 7 days have passed with no announcement from the exchange. That's unusual based on the other halts listed in the table. NWN could remain in this state for a few more days without the exchange taking notice but the heat will be on very soon.

Sym	Halted	Reason	Remain Halted	Reason	Days halted	Days between halt notices
AQX - V	11/14/2011	pending an announcement	11/15/2011	pending documentation	16	1
BTX - V	12/21/2011	pending news	12/23/2011	Policy 5.2	10	2
BYM - V	12/16/2011	pending an announcement	12/19/2011	Policy 5.2	15	3
CKO - V	2/8/2012	pending an announcement	2/8/2012	pending documentation	21	0
ERI - V	7/29/2011	pending an announcement	8/2/2011	Policy 5.2	2	4
FTE - V	5/16/2011	pending an announcement	5/19/2011	Policy 5.2	15	3
GDM - V	11/17/2011	pending news	11/22/2011	Policy 5.2	13	5
KGH - V	2/21/2012	pending an announcement	2/21/2012	Policy 5.2	8	0
MMA - V	8/16/2011	pending an announcement	8/16/2011	Policy 5.2	15	0
NDG - V	2/22/2012	pending news			7
NMD - V	12/7/2011	pending an announcement	12/7/2011	Policy 5.3	24	0
NWN - V	2/27/2012	pending an announcement			2
PDE - V	6/29/2011	pending news	6/29/2011	Policy 5.2	1	0
PNN - V	12/20/2011	pending news	12/22/2011	Policy 5.2	11	2
RND - V	12/6/2011	pending an announcement	12/7/2011	Policy 5.2	25	1
URP - V	12/1/2011	pending news	12/6/2011	Policy 5.2	30	5
VVI - V	11/28/2011	pending an announcement	11/29/2011	Policy 5.2	2	1

We should watch NDG to see how long NWN can get away without having to announce that a halt will remain in effect , assuming they can even get away with that. At some point NDG will announce that the halt is to remain for some reason or the halt will be lifted. Watch for that and you'll have an idea how long NWN might try to drag this out. I'm thinking they'll wait until after SPE has an announcement, which I believe will be significant and soon.

 

We'll see though. Pure speculation on my part :-)