|Like the hedgehog who started this thread, Acorn has had a long winter hibernation. It's starting to stir now - yesterday and today have seen the first buys of the year! Do they know something....|
|Oh dear, lack of news and the price continues to drift downwards.|
|I have no more idea than anyone here kvt, the four major shareholders have given no clue as to their intentions. However, their recent appointment of two new directors and a broker suggests that they're not sitting still.|
|Lol, very true...
I'm struggling to see a common denominator with Hofgren and Johnson that may offer a suggestion as to their plans? Any thoughts yogaboy|
|More ducks getting in line...|
|AUR is valued at three times ACO with less liquid assets . . .|
|Okay, so now we know who they are. Looking forward to seeing the plans.|
|This is a clean shell valued around cash with some serious new directors who have a wealth of experience and contacts in finance and business around the world . . .|
|15 November 2016
Acorn Growth Plc (the "Company")
The board of the Company is pleased to announce the appointment of Nicholas Walton Hofgren and Graeme Scott Johnson as directors of the Company with immediate effect. Graeme Johnson is a director of The Mint Corporation, a corporation listed on the TSX Venture Exchange, and has been a director of such corporation since 31 July 2014. There are no additional matters requiring disclosure under Rule 9.6.13 of the UK Listing Rules in respect of these appointments.
The Company also announces the resignation of Anthony Brennan and Charles Goodfellow as directors of the Company with immediate effect. The board thanks Charles and Anthony for their considerable contribution to the Company during their time as directors
Hofgren has worked in international finance since 1989, working in North America, Latin America, Russia and the UK. He has dealt primarily in private equity partnerships, capital raising, investment and fundraising campaigns in the European Middle Eastern and African territories for various financial organisations including: JP Morgan Chase, Bank of America, Brunswick Capital Partners and ALTA International.
He is currently co-founder of Westly House Partnership, a privately held partnership providing capital raising support to private equity and real estate firms, a company he formed with Christopher Jackson in 2008.
Mr. Graeme Scott Johnson serves as the President of Granite & Pine Investments. Mr. Johnson is employed at Kensington Investment Management, Inc. He is also Founder of Abu Dhabi Earth Observation Systems Limited. He served as Managing Director of Cordiant Capital Inc. He served as Managing Director at Kensington Capital Partners Limited, Deutsche Asset Management Inc. and Deutsche Bank AG, Investment Arm. He served as the Managing Director and Head of Europe in the Private Equity Funds Group at Deutsche Bank Group in London, U.K. While at Deutsche Bank, Mr. Johnson was responsible for private equity fundraising, structuring, and investment activities in Europe and the Middle East. He served as Head of Business Development and Member of LGT Private Equity Investment Team at Castle Private Equity AG. Prior to being at Deutsche, he worked in similar capacities at Adveq Management AG and LGT Capital Partners and as a Director in the Private Equity Funds Group at AXA Investment Managers. Mr. Johnson served as a Director of Investment Banking at CIBC Wood Gundy Inc. and CIBC World Markets, Inc. He began his career as an Auditor with KPMG in Germany. For more than 15 years since graduation, he has lived, worked and invested on four continents as a private equity fund investor, co-investor, and corporate executive. He serves as a Director of Abu Dhabi Earth Observation Systems Limited. He has been an Independent Director of The Mint Corporation since July 05, 2014. Mr. Johnson is also a pro-bono Member of the Board of Directors of the Quebec City Conference as well as Co-President of its Global Investment Forum. He is a C.F.A. Mr. Johnson received an M.B.A. from the Harvard Business School in 1995 and a B.A. from the University of Western Ontario in 1991.|
|Patience is the key.
I have some regrets i didn't put more into Highway
Capital, which although currently suspended is
looking very exciting.
Whilst Acorn is looking a bust flush right now, this
is my take.
The new investors put real money in at 15 pence.
They are getting diluted in the event the second
subscription is fully subscribed.
Don't believe they are looking for private investors,
as only those who follow the markets closely would be
Current situation suggests private investors getting
the jitters and bailing.
So we will know soon.
Either a fully subscribed offer with some institutional investors appearing,
along with a new board.
Or I will be putting these in the bottom draw for better times and trying
to figure out what the angle was for the new investors.
Were they selling into the spike before the announcement.
Which seems unlikely given the modest trading even at the peak a few
|So, three months after the announcement that got us all excited, convinced there must be a deal on a table somewhere, the continuing lack of news sees the share price sliding back to where it was.
Yes, I'm in at 10p, so still showing a profit, but also yes, I'm kicking myself for not selling up and walking away at 20p+. The old adage "it's never wrong to take profit" was never more clearly illustrated than here.
What was it all about then?|
|If the offer is fully subscribed this will have about 14p per share cash, up from about 12p per share cash at the moment.
But what's more interesting is what they're going to do with it.
When will we find out? No way of knowing. It could be on Monday, or it could be weeks.
But when this moves it can move very quickly, so it could be risky to be out.
At 13.125p this looks like a great buying opportunity.
'A watched pot never boils' though, so I think I will take a break from watching for a while!|
|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."