UK 22:41 Wednesday, 23 September 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
On Friday 20 November, cash-strapped and suspended from trading on AIM pending financial clarification (and now also for having no Nomad or broker) Paragon Diamonds (PRG) announced it had rolled a previous £500,000 loan over into a convertible loan note of £638,750. The terms revealed included that if the company's shares remained suspended for ten consecutive trading days as 16 November 2015 from an event of default could be called by the lender. My calendar says that day ten was Monday of this week.
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Comments
Drunken Sailor
I would suggest all Paragon shareholders convert their shares into paper form and put them in the toilet ready for that mega post Turkey and Brussel Sprout dump on Boxing Day morning. Well done to those who were smart enough to sell for dealing costs and a packet of Bread Sauce before suspension. Hopefully they can also afford a roll of Andrex for that crucial Boxing Day moment.
BobbyChariot
Quick check Nigel – is it spelled Paragon or Paragone?
Methinks the latter :)