|CuFeS2....I mean why else would investors come along when the share is trading at 8p and pay a 70% premium to acquire the company...its obviously because they knew it would trade at 1p.|
|It has a main market listing and is sat on a pile of cash roughly equivalent to it's current market cap . . . But apart from that there's no reason why this AIM share won't go to 1p . . .|
|it is really.theyre all pinksheets.|
|This isn't AIM though|
AIM always sells off.
usually eventually to around 1p.sometimes takes a few yrs though.|
|Any ideas why all this selling off?|
|Pre Emptive Rights - Rights for existing shareholders to have first refusal on the issue of new shares by a company.
So removal allows the company to issue shares to new investors, existing shareholders
have no advantage, as they have in a rights issue.
Existing investors if they choose to apply and are allocated can avoid dilution.
So I do not believe this relates to any target company.|
|Has anybody any inclinations or ideas at to why its been so quiet this week? Is it a matter of going through the bureaucratic motions before anything is announced? Correct me if I'm wrong here somebody, but does the removal of pre emptive rights elude to the possibility of the shares already being exchanged for a target?|
|Come on, ACO Directors, tell us your plans. At least identify yourselves!|
|Good find Hh100, I notice that Jason Peterson, also CPS Capital Pty, has a rather chunky 20m shares (about 8.4% iirc) in NHO. Wheels within wheels...|
|Interesting to see that Paul Conboy, who owns 500,000 shares in ACO, is an associate director of CPS:
Associate Director & Representative
Phone: (08) 9223 2206"
And that CPS is looking to invest in "growth" assets:
"Recently we have established a team of Wealth Management Professionals, Ashok Desai, Dale Raynes and William Philogene. This is an exciting service allowing clients to have stable capital management along with a small percentage of their funds in “growth” assets."
"CPS Capital Group Pty Ltd is arguably Australia’s most active mid tier broker.
Established in Perth, Western Australia, in 2001, our boutique corporate advisory and stockbroking firm specialises in providing strategic advice to both retail and wholesale investors.
CPS Capital Group Pty Ltd (CPS) was formed in 2001.
We have acquired and developed a diverse and highly trained team, specialising in servicing the resource sector. Our representatives are all qualified, experienced investment professionals each with multiple years’ experience leading local and international corporate advisory and broking firms.
CPS holds an Australian Financial Services License, is a member of the National Stock Exchange of Australia (NSX) and has implemented technological solutions with the aim of exceeding industry standards in compliance. CPS is regulated by the Australian Securities and Investments Commission (ASIC).
CPS is responsible for over 100 corporate deals each year, including various Initial Public Offerings (IPO) and placements.
We pride ourselves on building thriving relationships with our clients and engaging with trusted projects in the junior and micro-cap sized, technology, mining and resources sector."
|I was looking for links between CPS Capital Pty and the SAA when I found the charity page for the SAA here- hxxp://www.stockbrokers.org.au/About-Us/Charity if this is the same Heartwell that have become a majority shareholder in ACO then you have to imagine that Heartwell have been given the green light from potentislly very well-funded and well-connected members within the SAA.|
|As with ACO, NHO is also looking beyond the resources sector:
"The board has continued to focus on new projects and has been evaluating new projects in all business sectors.
Due diligence has been undertaken and presentations reviewed for projects in the technology sector, finance sector and advance stage mining projects."
|The 13/10/2016 is the anniversary of the suspension of NHO on the ASX. In the half yearly report (09/03) it was mentioned that a transaction would likely be consummated in the near future, I'm hoping that TB has identified a Company who is interested in using both shells to provide a cross listing. However, NHO haven't had a news release pertaining to anything imminent, so I would imagine my humch is probably wrong..either way, all will be revealed shortly.|
|Beats me Polly. I keep coming back to NHO...|
|What seems to be happening with the resignations? We thought something could be on the cards this week but it has been pretty quiet. Begs the question, what is this deal?|
|Well I've added in two trades, one ISA|
|Interesting time to be topping up. 30,000 on T+20 @ 15.47 was just too good to resist. There appears to be very little downside from here.Come on guys, tell us what you're doing...|
|Acorn Growth appear to have made no effort to
cultivate private investors, which is always
the sign of a rewarding investment.
Hoping we can repeat with Highway which is even
And expenses of only about £60K. to raise about £12.5M., which is under half of one per cent, supports your thesis.
As does the expected imminent replacement of the directors ... are they waiting until the offer closes?
Because the placing completed on Monday (3rd. October), and at that point the directors were supposed to resign:
"Completion is scheduled to take place on or before 30 September 2016 or such later date as the parties may agree. On completion the existing directors will resign and be replaced by directors nominated by the investors."
And then there's the September rise and volume.
ACO figures for number of trades per month:
August 2015: 13
September 2015: 5
October 2015: 3
November 2015: 16
December 2015: 6
January 2016: 2
February 2016: 3
March 2016: 5
April 2016: 3
May 2016: 5
June 2016: 281
July 2016: 84
August 2016: 126
September 2016: 298
The big increase in volume in June was a precursor to good news, so the similar story in September should be sending a similar signal.
Retail investors might be able to participate in the offer, if they're quick, but probably not via their ISAs or SIPPs as this isn't an open offer or rights issue.|
|No Underwriters, no financial intermediaries.
Strikes me that this is a done deal, with institutional
investors in the wings.
May let a few private investors their full allotment.
Rather than risk it I just added to my holding at
the small premium to offer price.
Suspect offer will close very soon.|
|Now that the Initial Issue has been completed, 66,666,667 Offer shares await a response from investors willing to subscribe £10,000,000 @15p. Investors, on the other hand, await news from the company that might entice them to subscribe.
Meanwhile the market has squeezed the offer down to 15.25 and the bid remains steady at 15.00.
This £10,000,000 Offer has to be all-or-nothing. Who would subscribe for a part when the market price is capped by the remaining overhang?|
|You're not the only one mate! As I recall reading in the prospectus, dealings on the offer would commence within 2 business days of the allotment. But there is no indication of when the allotment will commence / complete.|
|Hmmm, not wishing to appear impatient, but I'm itching to know what is going on behind the scenes here..shouldn't be long now.|
A charity would certainly be expected to target lower risk investments, which fits with ACO's extending of its remit into real estate from mining-energy.
And I note that DPFI Property 1 Limited are subscribing for 3,686,063 shares in the placing.|