|It was a bit of a surprise to see ONZ suspended at the start of this week, for failure to implement its investing policy, despite having invested in over 19 companies. That shouldn't have been cause for a 'nineteen nervous breakdown'!
Is AIM tightening its interpretation of the rules I wonder?
17/10/2016 07:00 UKREG Onzima Ventures Plc Suspension of Trading
"On 14 October 2015, following a general meeting and approval of all resolutions
by shareholders, Onzima became an Investing Company under the AIM Rules for
Companies and adopted a new Investing Policy. Over the last 12 months, the
Company has assessed a large number of investments and invested in 19
companies, as well as evaluated a number of potential reverse takeover
As an Investing Company, the Company is required to implement its Investing
Policy within 12 months or make an acquisition or acquisitions which constitute
a reverse takeover under the AIM Rules, failing which the Company's ordinary
shares would be suspended from trading on AIM. However, as at today's date,
the Company has not made an acquisition or acquisitions which constitute a
reverse takeover under the AIM Rules or otherwise implemented its Investing
Policy to the satisfaction of the London Stock Exchange. Accordingly, in
accordance with Rule 15 of the AIM Rules for Companies, the Company's ordinary
shares will be suspended from trading with effect from 7:30 am today.
In the event that the Company is deemed to have implemented its Investing
Policy, the Company will apply for the suspension to be lifted. Pending the
implementation of its Investing Policy or completion of a reverse takeover,
trading in the Company's ordinary shares will remain suspended.
If the Company has not made an acquisition or acquisitions which constitute a
reverse takeover under the AIM Rules or otherwise implemented its Investing
Policy within 6 months of the suspension, being 17 April 2017, the admission of
the Company's ordinary shares to AIM will be cancelled."
|The only other Adam Reynolds cash shell I'm aware of is his ISDX investment vehicle HubCo Investments Ltd ... but I'm not sure what's happened to it -
|Share prophets were talking about big sofa being reversed into another Adam Reynolds cash shell. Any idea which company it is ?|
the shuffle man
|I agree Luminoso, a real disappoint, as Big Sofa looked to have great multibagger potential.
Chat this week on LSE though suggests that its RTO into NEW could potentially be reactivated later, so fingers crossed.
If not, then we should certainly keep an eye out for Big Sofa RTOing somewhere else.|
|A blow to hopes for NEW's reverse into Big Sofa. No details on the complication but something has been discovered in NEW's legacy closet. Real pity, I was looking forward to that RT. Have to wait to get more details.
|Just like the old days: rabbit out of the hat.
Much to comment about, many dubious comments, many pumpers & dumpers caught out.
However cash flow problem sorted for the short term.
Minty lives to fight another day, the project looks good now.
The reality is, the old company was under capitalised, had the oil rich project in the wrong geology & location.
Minty is a great wheeler dealer & successive j/v's failed due to lack of cash with the other halves. Then the oil crash.
Unlike most failures in oil Minty has developed an alternative & grand project with great partners, which may, just may, benefit from the crash.
He will be the great survivor if it thrives, from the wreck of Eneg.
It now looks like he may be well on the way to pulling it off.|
Alan Minty deserves credit for having secured funds at about four times NUOG's recent share price.
06/10/2016 14:55 UKREG Nu-Oil and Gas PLC Placing
"The Company is pleased to announce that it has raised GBP700,000 before expenses (the "Placing") through the issue of 175,000,000 new Ordinary Shares (the "Placing Shares") with new and existing shareholders at a price of 0.4p per Placing Share (the "Placing Price"). The Placing was organised by the Company's joint broker, Beaufort Securities Ltd. ..."
£700.000 raised at a great price for the dead in the water share price
Caught a lot on the pump & dump, but the prospects are much better now on this one.
The project might now happen & might be affordable for the company.
|Sadly I have lost far too much on this one to get back in today.
This company is well under water & will need to raise cash to take it's part of the project forward.
It was really thought to be on the way out any day & Minty, as ever has pulled the rabbit out of the hat one more time.
A great character.
However I do still have a few left !|
|only success by looks of it|
|NUOG up 0.5625p (441.2%) on the day, to 0.69p!
05/10/2016 15:17 UKREG Nu-Oil and Gas PLC Aibel Investment in MFDevCo
Well done Haydock, and thanks for giving this thread another big success!|
|Nu-og is all action still rising fast.
Why, nobody saying anything other than the new shareholders 858.|
|Octagonal (OCT) hasn't been mentioned on this thread since July last year, and October seems like an appropriate month to revisit it!
Octagonal (OCT) 1.7p Market cap. £9.5M.
The stock has seen a lot of director share buying recently, and looks undervalued:
15/09/2016 16:54 Alliance News DIRECTOR DEALINGS: Octagonal Non-Executive Director Lifts Stake LSE:OCT Octagonal
01/09/2016 12:20 Alliance News DIRECTOR DEALINGS: Octagonal Non-Executive Buys 2 Million Shares LSE:OCT Octagonal
25/08/2016 16:03 Alliance News DIRECTOR DEALINGS: Octagonal Non-Executive Buys 2.3 Million Shares LSE:OCT Octagonal
24/08/2016 16:02 Alliance News DIRECTOR DEALINGS: Octagonal Chief Executive Buys 4 Million Shares LSE:OCT Octagonal|
|Nu-Oil and Gas (NUOG) 0.11p Market cap. £0.35M.
27/09/2016 16:21 UKREG Nu-Oil and Gas PLC Holding(s) in Company
"NU-Oil confirms that it was notified on 22 September 2016 that Mr Phil Terry has an interest in 20,000,000 ordinary shares in the Company, representing 6.37 per cent. of the current issued share capital.
NU-Oil also confirms that it was notified on 27 September 2016 that Mr Jack Brooks has an interest in 12,931,176 ordinary shares in the Company, representing 4.12 per cent. of the current issued share capital."
|On 3i.Re NU-oil & gas.
Not clear if this is accurate, something afoot ?
I see the boys from New World Oil and Gas now hold more than the Minty clan and enough to call an EGM. Phil Terry looks like an activist. Some fun to watch at last?|
|Something has changed in a big way this week at Nu-oil & gas.
Looks like a reverse t/o ?
No news at all & a very strange trading week.
Any hints ?|
|Many Tx Hedgehog 100 for your v. helpful reply.|
|Hi Maytrees, and thanks for flagging up LVRT (Levrett).
To address your question, a RTO suspension is usually a very positive event if the RTO goes through, as it generally adds significant value.
A recent example is VLOX (outlined in the post above yours), which returned to the market as VLTY at the end of June after a RTO priced at five times the suspension price: which was a real gain, not just down to a share price consolidation.
Further back, in May 2014 ONE was suspended for a RTO, and returned a month later as BOOM at double the price.
In fact buying in just ahead of a suspension can be a good strategy if you expect a positive outcome, as the share price can be depressed beforehand by investors who don't want to be locked in, and/or are unsure of the outcome, creating a buying opportunity.
And just the potential of a suspension can create such an opportunity, even if the suspension doesn't actually happen.
However, the situation is less clear cut if there has been a very strong run up in the share price just prior to suspension.
It is possible for expectations to be too high, for the shell to be overvalued, and for it to trade lower after the RTO.
But then again it could be a deserved rerating upwards, for a shell which has previously been oversold.
You will need to assess what is fair value for the shell, and its likely deal.
And that can be very subjective and speculative, given the lack of info. you are likely to have on the RTO prior to any suspension.|
Having tried an experimental investment in shell LVRT a few months ago its share price stagnated for weeks at about 1.75p.
However on Thursday last week there seemed to be some interest so I added; then on Friday the share price soared to 3-4p so I took profit in half but retained a good few.
Shortly afterwards on Friday, trading was suspended pending an RTO:
"Levrett has signed a non-binding letter of intent to acquire Nuformix Limited, a UK incorporated company operating in the cocrystal technology sector, for new shares in the company. The acquisition is subject to the completion of due diligence..."
For shell co making an RTO, is the norm for the share price after completion of the RTO to be higher than the share price immediately before suspension pending completion?
In other words is it better to wait for completion or sell shares in the shell after rto rumours but b4 suspension?|
|VLOX was suspended in December 2015 at 0.2p (market cap. £0.11M.) for a RTO, equivalent to a current 5p consolidation-adjusted.
And it has recently returned to market as VLTY after a RTO at 25p, a fantastic profit for anyone who bought in late last year.
This shows the merit of monitoring such micro cap tiddlers, and where appropriate, taking a punt.
Veltyco Group (VLTY) 22.5p Market cap. £12.8M.
09/06/2016 07:00 UK Regulatory (RNS & others) Velox3 PLC Proposed Acquisition and Change of Name
Proposed Acquisition of Sheltyco Enterprises Group Ltd., Change of Name to Veltyco Group plc and Notice of General Meeting
"Velox3 plc (AIM: VLOX) is pleased to announce the conditional acquisition of the entire issued share capital of Sheltyco Enterprises Group Limited for a consideration of GBP10.9 million to be satisfied by the issue of 43,753,775 new consolidated Ordinary Shares. Sheltyco is a holding company for several subsidiary companies focused on the marketing and promotion of third party online gaming, lottery and binary option operators, such as Betsafe (online casino and sports betting), Lottopalace (lottery) and Option888 (binary options).
-- Sheltyco (founded in 2011) is specialised in marketing and promotion activities in three fast growing markets:
o Online gaming (Betsafe - online casino and sports betting)
o Lottery (Lottopalace)
o Binary options (Option888)
-- Profitable and cash generative since 2013
-- Following Admission, the Enlarged Group will also review potential acquisition opportunities which fit into the company's profile.
-- The net proceeds of the transaction will be used to support the working capital needs of the Enlarged Group and to continue Sheltyco's marketing activities in gaming, lottery and binary options
-- The Directors intend to declare dividend payments as soon as it becomes commercially prudent to do so
The Company also announces that it has conditionally raised c.GBP538,000 before expenses by way of a Subscription of 2,152,172 Subscription Shares at a price per Subscription Share of 25 pence. The approximate net proceeds of the Subscription of GBP251,000 will be applied as working capital for the Enlarged Group.
The Subscription is anticipated to complete in two stages with 1,273,181 Subscription Shares being issued on Admission, raising approximately GBP318,295 (gross), and a further 878,991 Subscription Shares issued in early July raising approximately GBP219,747 (gross).
As a term of the Subscription, each Subscriber shall also receive 1 Warrant for every 5 Subscription Shares subscribed, exercisable at 31 pence per Warrant at any time during the period from the date of issue until the 5th anniversary of issue. It is not intended that the Warrants will be listed on any stock market.
In addition, the Company intends to convert outstanding loans of c.EUR818,000 into 2,717,932 Ordinary Shares and 503,586 Warrants.
The Company currently has 193,031,360 Existing Ordinary Shares in issue; the last recorded price per
Existing Ordinary Share was 0.20 pence on 4 December 2015, the last day that the Existing Ordinary Shares were trading on AIM before suspension. The Existing Directors believe that consolidating the Existing Ordinary Shares will lead to the Enlarged Group having a more readily understood share price and number of Ordinary Shares in issue.
Accordingly, the Existing Directors have decided to implement a consolidation of its share capital so that each Shareholder of every 25 or more Existing Ordinary Shares will be entitled to receive one new Ordinary Share. Shareholders with a holding in excess of 25 Existing Ordinary Shares, but which is not exactly divisible by 25, will have their holdings of Ordinary Shares rounded down to the nearest whole number of Ordinary Shares following the Share Consolidation.
Conversion of outstanding fees
In settlement of certain fees and remuneration due to the Existing Directors in the aggregate sum of EUR106,400, it is envisaged that the Board will propose to issue on Admission to David Mathewson 173,538 new Ordinary Shares and to Mark Rosman 153,846 new Ordinary Shares at the Issue Price.
Assuming that these share issues are carried out, David Mathewson's interest in the Enlarged Share Capital on Admission will comprise 249,769 Ordinary Shares representing 0.44 per cent. of the Enlarged Share Capital and warrants over 240,000 Ordinary Shares and Mark Rosman's interest will comprise 486,927 Ordinary Shares representing 0.86 per cent. of the Enlarged Share Capital.
Change of Name
To reflect the changing nature of the business the Directors propose a change of name to Veltyco Group Plc.
Notice of General Meeting
The Acquisition is classified as a reverse takeover under the AIM Rules requiring the approval of Shareholders. The Acquisition is also conditional on the approval by the Shareholders of a waiver of Rule 9 of the Takeover Code. As a result, the Company is today also publishing a readmission document (Readmission Document) which is available from the Company's website at www.velox3.com.
Conditional upon the completion of the Acquisition, application will be made for the Enlarged Issued Share Capital to be admitted to trading on AIM.
An Extraordinary General Meeting of the Company will be held at the offices of Estera Trust (Isle of Man) Limited, 33-37 Athol Street, Douglas, Isle of Man IM1 1LB on 27 June 2016 at 10.30a.m. for the purpose of considering and, if thought fit, passing the resolutions.
A copy of the Readmission Document, notice of Extraordinary General Meeting and Proxy Form will be posted to Shareholders later today
Trading in the Company's Existing Ordinary Shares on AIM is currently suspended; it is anticipated that following completion of the Acquisition the suspension will be lifted and trading in the Enlarged Share Capital will commence at 8.00 a.m. on or around 29 June 2016.
Stockdale Securities is acting as Nominated Advisor and Broker to the Company.
Capitalised terms used in this announcement but not defined have the meanings given to them in the Readmission Document."
|NEW's RTO update today makes its Big Sofa RTO sound very exciting indeed.
And NEW will have around 45% of the enlarged equity prior to any associated fundraising.
From NEW's current market cap. of £2.85M. there looks to be lots of upside.
01/09/2016 07:00 UKREG New World Oil & Gas Update on Big Sofa and AGM
"Further to the announcement on 9 May 2016, regarding the possible acquisition of Big Sofa Limited ("Big Sofa"), a company operating primarily in the high growth area of video analytics, the Company is pleased to provide an update on progress to date and other matters.
Progress with the reverse takeover of Big Sofa
The Company is continuing to make good progress with the possible reverse takeover of Big Sofa and the Board remains of the view that this acquisition is an attractive proposition for New World shareholders. Big Sofa is continuing to win new mandates from a number of leading companies and is expanding internationally, particularly in the United States where a number of its important clients are based. Big Sofa is now becoming increasingly well-established within the fast growing global video insight and analytics sector. The company has also recently made a number of key appointments and is therefore now well-resourced to capitalise on its recent contract wins and convert a number of new business opportunities. Further details on the company's progress and operations can be found on the Big Sofa website at www.bigsofa.co.uk.
New World expects to provide a further update on the transaction in due course.
Further loan to Big Sofa
Given the progress that Big Sofa has made to date, the Board has decided to provide Big Sofa with a further loan of GBP100,000, in addition to the GBP500,000 already advanced as announced on 19 July 2016, and on the same terms, in order to provide additional working capital to support this rapid growth.
Oil and gas licences
As previously reported, the Company's only remaining oil and gas asset is the Blue Creek Production Sharing Agreement in Belize, which is due to expire on 31 October 2016. The Board confirms that the Company is currently seeking to dispose or relinquish this asset. The Company has also commenced the process of dissolving the subsidiaries associated with its Danish licences which were relinquished in September 2015.
As announced on 9 May 2016, trading in the Company's shares were suspended given that the possible acquisition of Big Sofa (the "Acquisition") would amount to a reverse takeover under the AIM Rules, pending the publication of the required AIM admission document or confirmation that the Acquisition is not proceeding.
Upon completion of any disposal or expiry of the Company's existing oil and gas assets prior to the Acquisition, the Company will become an AIM Rule 15 cash shell.
Annual General Meeting
A notice convening an Annual General Meeting ("AGM") of the Company will be sent to shareholders shortly and a copy of this notice will be made available on the Company's website at www.nwoilgas.com. The principal purpose of the AGM will be for shareholders to approve the Report and Accounts for the year to 31 December 2015 (which are also available on the Company's website), and approve the adoption of a new set of articles which are more appropriate for the Company going forward."
|An appropriate name change, in view of the company's 2% interest in Horse Hill Developments Ltd:
03/08/2016 14:51 UKREG Evocutis PLC Change of Name
"Evocutis (AIM: EVO, ISDX: EVO) announces that today the name of the Company has been changed to Gunsynd plc.
As of 7am on 4 August 2016, the Company will adopt the ticker GUN.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014
The directors of Evocutis Plc accept responsibility for this announcement."
"Gunsynd (4 October 1967 – 29 April 1983) was a champion Australian Thoroughbred racehorse who won 29 races and A$280,455 in prize money. In his seven starts over one mile (1,600 metres) he was only once defeated, by half-a-head in the Epsom Handicap."
|GUN is trading below cash and only 1/4 of NAV|
|Very positive developments at ACO on Wednesday of this week.
Check out the premium of the placing price - a whopping 71.43% to ACO's closing share price of 8.75p on 2nd August:
03/08/2016 14:30 UK Regulatory (RNS & others) Acorn Minerals PLC Subscription
"The Company is pleased to announce that it has entered into conditional agreements with a group of unconnected investors introduced by Peterhouse Corporate Finance, pursuant to which such investors will subscribe in cash for 16,517,778 new ordinary shares in the capital of the Company (Subscription Shares) at 15p per share (Subscription Price) to raise gross proceeds of GBP2,477,666.70 (Subscriptions).
On issue, the Subscription Shares will represent 53.62% of the issued share capital as enlarged by the Subscription Shares.
The Subscription Price stands at a 71.43% premium to the closing middle market price of an ordinary share in the capital of the Company on 2 August 2016, being the latest practical date before the date of this announcement.
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.
Completion of the Subscriptions is conditional upon:
-- evidence satisfactory to the investors as to the passage of resolutions at a general meeting of the Company to authorise the allotment and issue of the Subscription Shares;
-- evidence satisfactory to the investors of a prospectus relating to the issue of the Subscription Shares having been approved by the FCA; and
-- aggregate subscription monies being received by of not less than GBP2,477,666.70 (such sum having been deposited prior to exchange of the subscription agreements).
Further details will be provided in due course in a shareholder circular and in the prospectus."
Someone has big plans for this main-listed shell, and all should be unveiled shortly.
But that is not currently reflected in ACO's share price, having closed for the weekend at 11.75p, which is about the level of cash per share including the new monies.|