Sovereign Takeover Rumours (SMA)

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Sovereign Takeover Forum Posts

He and Rupert Fraser, Giles Clarke and Rupert Fraser have invested GBP100,000 and GBP125,000, respectively, in the Subscription alongside existing and new shareholders, including existing director Nathan Steinberg. Jeremy Sparrow also has 11,000,000 warrants which are exercisable on the execution of a reverse takeover by the Company. So yes the three main players each have skin in the game.
In the last RNS the company says below about suspension, but my understanding is that they can lift the suspension any time before the shares get finally cancelled provided they have completed the reverse takeover. So it leaves until 21st July which gives us, by my reckoning 33 days until suspension. Suspension of trading in the Company's shares is scheduled for 21 July 2017, if the Company's shares remain suspended for six months they will be cancelled from trading on AIM on 21 January 2018 pursuant to AIM Rule 41.
georgia I strongly suspect they will combine update on progress with results. They still have a long time to go, we dont know if the reverse takeover involves government level discussions which could take time or if discussions are involving several parties which could also take a long time. As for brokers well ime sorry to say they are a totally self serving lot who think talking to the public is too humiliating a task to undertake. If you are scared of your investment though, sell out. What we do know is that the team of Giles Clarke, Jeremy Sparrow and Rupert Fraser are all genuinely top line businessmen with their own money in the game. These are really top guys with a load of experience, contacts, skills and money, whatever you do dont take these guys lightly. They mean business, but maybe they are still intending to reverse into some company or business in Africa where getting paperwork notarised and formally committed to in court does take a long time.
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