The shells have 3 months to do a deal before they are suspended, however they can still do a deal during the 6 month suspension period. That said I suspect that by March many PI's will be getting a bit twitchy if they haven't got faith (or information) that the management have a clear focus on achieving a good deal for all shareholders. Indeed, such twitchiness may even create some opportunities for inveterate gamblers if mug punters bale at any price prior to suspension, not one for the twitchy sphincter brigade though!!
In they case of Castor I have no knowledge of what deal if any is planned. I did speak to a Director in October on another matter and mentioned the likelihood/implications of April 2006 suspension. Sadly he wasn't giving anything away however its fair to say he didn't seem too phased by the deadline. Whether there has been any movement in the last couple of months I don't know. I have a modest holding at an average of just over 6p so I am fairly relaxed as Castor has a market cap of around £1.5million and has nearly £1million cash. Its a punt on the management team I know, however it seems a far more realistic punt compared to some cash shells that seem to trade at large multiples of the cash pile they actually hold for no apparent reason.
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