As an Shareholder in Rusina Mining (LON:RMLA) , I am watching this with a great deal of interest!! At the 6.5p level for ENK [which was down 20-odd% on the news about the Forestry Permit saga] and on the basis of 4 x ENK for 5 x RMLA, this deal is currently worth 5.2p to RMLA shareholders. Hopefully the ENK share price will recover some of the drop. But I wait and see with fingers crossed!

But there is another problem that I have and I suspect that there are many others who will have the same problem. I hold my RMLA shares in an ISA, as they are dual-listed on both AIM and the ASX. My nominee account provider however does not deal on the Australian market. ENK have advised that they will de-list from AIM and will only be traded on the ASX in future. So RMLA shareholders like myself will be likely to have to take the ENK value from their RMLA shares out of their ISA and open another ISA with a nominee account provider such as TDW who will deal in ASX shares. This will of course involve dealing in A$ as well - so there would be an exchange rate uncertainty.

I'm currently deciding what to do. One scenario is that I may very well sell my RMLA shares before the last date for trading on AIM and re-invest the funds in a different company, quoted on the LSE AIM market, which is ISA-able. As I already hold MML and AGQ these are two which are high on my list of candidates.

I posted this note on the ENK news thread today as well. [I corrected a couple of spelling mistakes as well!]

P3dr036

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