World Stock Exchange News
THE DELISTING OF BNT
Date: June 08, 2007The management of BNT announced their intention to move a copy of the shareholder list to an alternative exchange that was to be effective 12:45PM SLT, 7th June 2007.
The WSE was not contacted directly regarding this move, the announcement of the move by BNT did not provide an acceptable time frame to allow WSE opportunity to Halt Trading of BNT shares prior to the move. This resulted in shares being traded in BNT that the management of BNT and the start-up exchange will not acknowledge. We requested that the management of BNT take an updated copy of the shareholder list however the request was declined due to the claim that the BNT shares were already trading on the start-up exchange.
The actions by BNT may have been aimed at inflicting a negative impact on the WSE and display significant signs of malice intent and may be a possible response to the recent move by Hope Capital from BNT controlled estates.
The WSE provided BNT with an exchange platform that allowed them to raise over L$10 million lindens which was to be used to fund their expansion plans.
The WSE is the leading virtual securities exchange with over 3700 users, 50 companies trading on the official list, 25 IPO's and an average daily volume exceeding L$2 million lindens in value.
The WSE strongly recommends that users exercise caution when dealing with start-up exchanges without a solid track record, lack of customers, volume and brand awareness.
Hope Capital and the WSE will not assist or support any business in Second Life that participates in smear campaigns or unethical business practices. WSE will provide compensation for all traders that purchased shares after the announced time of the move by BNT to the start-up exchange.
Permalink