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SKW Skiddaw

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type Share ISIN Share Description
Skiddaw LSE:SKW London Ordinary Share KYG8184J1022 ORD SHS USD0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% - 0.00 -
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Skiddaw Share Discussion Threads

Showing 1 to 13 of 75 messages
Chat Pages: 3  2  1
DateSubjectAuthorDiscuss
30/4/2004
15:19
or bing crosby ?
macroeconomic
30/4/2004
15:18
stephen fry ?
macroeconomic
30/4/2004
15:17
this bank deal should get some publicity once it changes name from skids to crosby.hopefully mr fry has a good city following.
beg bitch beg
30/4/2004
15:14
30p here we come !
macroeconomic
30/4/2004
15:10
Got in yesterday following the reinstatement of the shares, this deal looks excellent and these shares could really start to motor

fingers x

the shuffle man
30/4/2004
14:14
DEAL WITH CROSBY ALL BUT DONE.COMPANY NOW HAS EXCELLANT EXPOSURE TO DYNAMIC PACIFIC RIM.WITH SEVERAL SENIOR EX NOMURA DIRECTORS NOW IN CHARGE THIS COMPANY SHOULD PROVIDE SHAREHOLDERS WITH AN EXCITING FUTURE
beg bitch beg
26/3/2004
17:03
RNS Number:0059X
Skiddaw Capital Inc
26 March 2004


ANNOUNCEMENT
SKIDDAW CAPITAL INC

Further to the suspension of trading in its securities on 24 March 2004, Skiddaw
Capital Inc(Skiddaw) announces that it has entered into a conditional
memorandum of understanding to acquire Crosby Capital Partners (Holdings)
Limited (Transaction). The proposed Transaction would be a reverse takeover for
Skiddaw under the AIM rules.

Crosby Capital Partners (Holdings) Limited (Crosby) is engaged in cross border
investment banking and asset management, and trades principally out of Hong
Kong. Crosby is a wholly owned subsidiary of Techpacific Capital Limited
(Techpacific), a company listed on the Growth Enterprise Market of the Stock
Exchange of Hong Kong Limited (GEM). As required by the GEM Listing Rules,
Techpacific has announced the Transaction. Accordingly Skiddaw is making this
announcement even though the Transaction wouldnot normally be announceable
under the AIM rules at this early stage because of the nature of the conditions
attaching to the Transaction, such as the parties being satisfied with due
diligence and agreeing the terms of a sale and purchase agreement.The
Transaction will be subject to the prior approval of the shareholders of both
Skiddaw and Techpacific.

The Transaction

Skiddaw and Techpacific have entered into a conditional memorandum of
understanding pursuant to which:

*Skiddaw will acquire Crosby in consideration of the issue to Techpacific
of 200,000,000 new ordinary shares of one cent each in Skiddaw, which would
give Techpacific an 88.89 per cent. shareholding in Skiddaw after the
acquisition but before the placing referred to below. At the placing price
of 12p the price to be paid for Crosby is #24,000,000;

*Skiddaw will, at the same time, seek to raise between #600,000 and
#1,200,000 by way of a placing at 12p per share (Placing). Skiddaw already
has commitments from shareholders to purchase #600,000 worth of new shares
in the Placing;

*Techpacific will, depending on the size of the Placing, own between 85.11
per cent. and 86.96 per cent. of Skiddaw's enlarged issuedshare capital
following the Placing;

*Skiddaw will seek shareholder approval to change its name to Crosby
Capital Partners, Inc.

The Transaction is consistent with Skiddaw's stated investment strategy.

Conditions precedent

It isemphasised that the Transaction is conditional upon various conditions
precedent being met and that the Transaction therefore may or may not proceed.
Completion of the Transaction is conditional upon the following conditions,
among others:

1.Techpacific demonstrating that, as at 17 March 2004, Crosby (and its
group) had a minimum of US$5,000,000 (five million dollars) of cash or cash
equivalents, net of any liability to Techpacific or any other creditor under
Techpacific's ownership orcontrol.

2. Skiddaw demonstrating that, as at the latest practicable date prior to
the completion of the Transaction but before the completion of the Placing,
Skiddaw has a minimum of US$1,500,000 (one million five hundred thousand
dollars)of cash or cash equivalents, net of any liability to any creditor.

3. There having been, immediately prior to completion of the Transaction,
no material adverse change in the financial position of Crosby.

4. The obtaining of all such regulatory and other approvals or consents as
may be necessary to complete the Transaction, including but not limited to that
of GEM and AIM, including approval of the Transaction by the shareholders of
Skiddaw and Techpacific and re-admission of the enlarged share capital of
Skiddaw to AIM.

5. Each party conducting, and being satisfied with, its due diligence
enquiries in respect of the other party.

6. No breach by either party of its obligations in respect of certain
prohibited activities prior to completion of the Transaction, as set out in an
attachment to the memorandum of understanding.

7. The signing of a mutually satisfactory sale and purchase agreement
containing, among other things, such provisions, covenants,warranties and
indemnities as are appropriate to the Transaction.

Information on Crosby

Crosby has three broad areas of activity:

* an investment banking operation that includes:
o a China and Greater China focused corporatefinance business
that concentrates primarily on the mid-cap area of the private
sector in China;

o a cross border corporate finance team that provides mergers and
acquisitions and fund raising services for corporations in Asia
(excluding China); and

o a business in which Crosby makes investments using its own
capital or interests acquired in the form of in-kind success-based
commissions.

*a small international distribution team operating from London and Hong
Kong marketing placements to Middle Eastern, Asian and European markets; and

*an asset management operation with assets under management of US$360
million.

Timetable

Skiddaw is conducting its legal and accounting due diligence and, if satisfied
with that process, intends to finalise a sale and purchase agreement and
dispatch a circular to shareholders in April 2004 conveningan extraordinary
general meeting to consider and, if thought fit, approve the Transaction.



This information is provided by RNS
The company news service from the London Stock Exchange

wole
16/3/2004
05:06
fitehills it looks like it's just you and me for now!
Could you expand on the "track record of the main players" please?
TIA,Bittorrent.

bittorrent
15/3/2004
13:00
Mentioned in the Sunday Tel Or Times cannot remmember which as a shell co along with a number of shells who would take over others.Also mentioned in IC,quite a good write up.So how long to the takeover announcement? Given the rise on the first day the announcement when it comes should be good.Shares being held very tight.I loaded up last week following the track record of the main players.
Anyone got any ideas?

fitehills
10/3/2004
11:12
"T" trade for 96700 shares at the full offer today-somebody wants them.
bittorrent
10/3/2004
10:09
Can someone list the lines and prospects of these Asian markets? Thanks.
ppowerscourt
09/3/2004
20:04
If this has a second day like Reflexion(RFX),which floated yesterday I will be happy! :-)
masako
09/3/2004
13:01
Anybody else got into this one?
From The Telegraph 7/3/04

"Skiddaw set to climb

Back in October we advised readers to buy shares in Canisp, an Aim-listed "mini-Centrica" that sells a range of telecoms services to small and medium sized businesses, when they stood at 27.5p. They closed last week at 58p after the company announced that it had signed a new customer.


The investors behind Canisp (which was originally a shell company) will bring Skiddaw Capital Inc, a new Aim-listed vehicle, to the market this week. Like Canisp the company will be chaired by John Leat, who managed the business and personal affairs of the Maktoum dynasty (the ruling family of Dubai) until 2001.

Skiddaw, which will list its shares at 6p, is planning to acquire firms operating in the investment banking and fund management sectors and will largely focus on the Asian market. Shell companies are not without their risks, but given the success of Canisp, readers may be tempted to take a punt on Skiddaw. Buy."

bittorrent
Chat Pages: 3  2  1

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