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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Acorn Growth | ACO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 10.125 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 10.125 | 10.125 |
| Top Posts |
|---|
Posted at 29/9/2016 18:50 by hedgehog 100 Some extracts from ACO's prospectus yesterday:"… This Document comprises a prospectus relating to Acorn Growth Plc, … It is expected that the admission of the Ordinary Shares being issued pursuant to the Initial Issue will become effective, and that dealings in those Ordinary Shares will commence at 8.00 a.m. on 3 October 2016, and in respect of the Offer Ordinary Shares within two business days of allotment. There is no minimum subscription under the Offer and the Offer is not underwritten. Accordingly, Ordinary Shares validly applied for under the Offer will be issued within two business days of receipt thereof and admission of and dealing in such shares is expected to be within two business days of allotment. … ACORN GROWTH PLC (registered in England and Wales under the Companies Act 2006 with number 07892904) Issue of up to 83,184,445 Ordinary Shares at an issue price of £0.15 per Ordinary Share, comprising an Initial Issue of 16,517,778 Ordinary Shares and a further offer of up to 66,666,667 Ordinary Shares … The Company proposes to raise up to £12,477,666.70 overall, having raised £2,477,666.70 in the Initial Issue and proposes to raise up to £10,000,000 through the Offer. The estimated net proceeds of the Initial Issue and the Offer, post expenses, assuming the Offer is fully subscribed, are approximately £12,417,600. The total costs of the Initial Issue and the Offer payable by the Company are estimated to be approximately £60,000 (inclusive of irrecoverable VAT). … Ordinary Shares are being issued at 15p per Ordinary Share. Completion of the allotment and issue of the Initial Issue Ordinary Shares, is conditional upon the Ordinary Shares being admitted to trading, expected to take place at 8.00am on 3 October 2016. The Offer will be open for eleven months and two weeks following the date of this document, unless the Directors, at their discretion, determine to close it at an earlier date. It is expected that admission will become effective and that unconditional dealings will commence on the London Stock Exchange at 8.00 a.m. on 3 October 2016 in the case of the Initial Issue Ordinary Shares and within two business days of allotment in respect of the Offer Ordinary Shares. … 28 September 2016 …" Assuming full subscription, ACO will have about £13.6M. cash, less spending since 31st. March. That would be a huge amount for a shell. |
Posted at 29/9/2016 18:06 by hedgehog 100 YB,It's hard to believe that recent ACO newsflow would have happened unless a specific deal is on the table here. Not just the fundraisings - especially their level & price - but also ACO's statement in its July final results: "Whilst we have not concluded a transaction during the year we are very hopeful of doing so in the near future." Combined with the imminent resignation of ACO's existing directors. 'Sailing close to the wind' is subjective, but as long as you're not in the wind it would be deemed acceptable. |
Posted at 27/9/2016 18:32 by hedgehog 100 "Acorn Growth plc is a newly-established company incorporated under the laws of England and Wales.Acorn Growth plc was admitted to the Standard List of the LSE in October 2012, the Directors of the Company intend to pursue investment opportunities in the mining, minerals & energy sectors, with consideration given to both conventional and alternative energy projects as well as mining & energy infrastructure projects. It is envisaged that the company or project acquired for the acquisition will have an enterprise value up to £50 million. Following completion of the acquisition, the Company’s business model will be to run the acquired company or project, making any necessary operational or structural changes in order to generate value for shareholders over the medium term. The Company initially intends to acquire one company or project only but will review on an ongoing basis whether it is in the interests of the company or project acquired to pursue any add-on acquisitions or projects." 03/08/2016 14:30 UKREG 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." "LETTER TO SHAREHOLDERS AND NOTICE OF ANNUAL GENERAL MEETING" "... Date: 1 September 2016 To: holders of Ordinary Shares Dear Shareholder I am pleased to invite you to this year’s annual general meeting (AGM). The AGM will be held at 1.00p.m. on Monday 26 September 2016 at the offices of Fladgate LLP, 16 Great Queen Street, London WC2B 5DG. Full details of the resolutions of the meeting and how to attend are set out in the attached Notice of AGM. This year, in addition to the resolutions that have been proposed to approve the accounts and the directors’ remuneration report; re-elect a director retiring by rotation; and reappoint the Company’s auditors and authorise the directors to fix their remuneration, the Company proposes a number of additional resolutions designed to allow the Company to broaden its strategy, as follows: 1. Sector focus and change of name The profile of the proposed target of the Company for its first acquisition has, to date, been a company, business or project in, but not limited to, the mining and minerals sectors. The board now considers it appropriate for the Company to broaden its focus to include targets in energy, infrastructure and real estate in addition to the mining and minerals sectors. Accordingly, pursuant to Resolution 6 as set out in the Notice of AGM, it is proposed that the Company now adopt a wider sector focus, and pursuant to Resolution 7, change its name to a name that more fully and accurately reflects such broader strategy, namely “Acorn Growth plc.” 2. Share authorities As announced by the Company on 3 August 2016, the Company has entered into subscription agreements with a number of investors pursuant to which it is proposed that 16,517,778 ordinary shares of 2p each in the capital of the Company (Ordinary Shares) be issued to such investors at 15p per share (Subscription Agreements). The Subscription Agreements contain a number of conditions, including the passing of the necessary authorities for the issue of the Ordinary Shares to the subscribers. Accordingly, the Company proposes to obtain authority from shareholders for the directors to allot and issue the relevant Ordinary Shares pursuant to the Subscription Agreements. In addition, it is proposed that the directors now be granted greater flexibility to allot and issue Ordinary Shares whether for working capital purposes, as consideration for any acquisition made by the Company, or otherwise. Accordingly, pursuant to Resolutions 5 and 8 as set out in the Notice of AGM, it is proposed that the directors of the Company be given authority to allot and issue a total of £2,000,000 in nominal value of Ordinary Shares, including the Ordinary Shares to be issued pursuant to the Subscription Agreements, and pre-emption be disapplied in respect of the same amount in nominal value of Ordinary Shares, representing, assuming all such shares are issued, and taking into account the 14,288,005 Ordinary Shares in the capital of the Company currently in issue, 87.5% of the issued share capital of the Company. Your Directors are of the opinion that all resolutions which are to be proposed at the AGM are in the best interests of the Company and its shareholders as a whole and therefore unanimously recommend that you vote in favour of the resolutions, as they intend to do in respect of their own holdings in the Company, representing approximately 11.2% of the existing issued share capital. Yours faithfully Anthony Brennan Executive Chairman ..." Closing share price 27.9.16: 15.75p Market: Main Market Exchange market size 3,000 |
Posted at 27/9/2016 17:56 by hedgehog 100 27/09/2016 17:15 UKREG Acorn Minerals PLC Change of Name"Further to the announcement made yesterday regarding shareholder approval at the Company's annual general meeting of the change of the Company's name, the Company is pleased to announce that its change of name from Acorn Minerals Plc to Acorn Growth plc has been registered at Companies House today, and is now effective." |
Posted at 22/9/2016 18:48 by hedgehog 100 Tomorrow is the last full trading day before the AGM, and from the AGM onwards I expect the path for ACO - or Acorn Growth as it will then be - to be much clearer.ACO's website is currently down, so I would imagine that it's being updated ahead of developments on Monday: "509 Bandwidth Limit Exceeded The server is temporarily unable to service your request due to bandwidth limit has been reached for this site. Please try again later." ACO's chart looks to be developing a nice stepped rise formation, and the next step up (from 16.625p) could be imminent. |
Posted at 20/9/2016 18:13 by hedgehog 100 YB,Michael Walters is a real connoisseur of shells. Indeed I believe that his book "How to Make a Killing from Penny Shares" has an entire chapter on the subject. And out of literally dozens of other shells he could potentially have tipped as a buy last week, but he has chosen ACO. For someone of his experience and nous to single out ACO in particular is a real testament to the potential here. It's also telling that he categorises ACO as low-risk: "Small Acorns 14/9/2016 A low-risk gamble." |
Posted at 01/9/2016 18:32 by hedgehog 100 01/09/2016 16:55 UKREG Acorn Minerals PLC Notice of AGM"Copies of the Annual Report and Accounts for the year ended 31 March 2016 and the Notice of Annual General Meeting ("AGM") were posted to shareholders today. The AGM is to be held at 16 Great Queen Street, London WC2B 5DG at 1.00pm on Monday, 26 September 2016. A copy of the Annual Report and Accounts together with the AGM notice will be submitted to the National Storage Mechanism and made available from the Company's website at hxxp://www.acornmine For further information, please contact: Acorn Minerals Plc Registered office number: 01274 962560 Nigel Brent Fitzpatrick, Director hxxp://www.acornmine I think that the AGM had to be held by 30th. September (i.e. within 6 months of the company's year end). But is this the GM referred to in ACO's 3rd. August RNS, or will that be later? There's no further mention so far of the shareholder circular and prospectus that are awaited, but I haven't yet seen the AGM notice - there's nothing yet on ACO's website. |
Posted at 21/7/2016 17:42 by hedgehog 100 ACO haven't added their final results from two days ago to their website yet, but they are busy with other things so allowances should be made.I've also just noticed this from the home page, which I haven't seen before: "Warning It has come to the attention of the Directors of Acorn Minerals plc that certain unauthorised individuals are offering employment with Acorn. The applicant is asked to pay a visa application fee. Please be advised that this is NOT the actions of Acorn Minerals nor anyone associated with the company nor in any way authorised by the company. Acorn Minerals is NOT seeking to employ anyone at present." |
Posted at 06/7/2016 18:23 by hedgehog 100 The question is, why did the number of ACO trades p.c.m. increase by nearly a hundred-fold from April to June this year?There has been no ACO RNS this year (though its full year results are imminent), and no recent press coverage that I can see. There hasn't even been that much bulletin board posting, and what there has been has been mainly reactive. The logical explanation is that a big deal is brewing behind the scenes, which some people have got wind of: e.g. by using their 'skill & initiative'. The management here have certainly had sufficient time to arrange something, and ACO Chairman Tony Brennan was buying in heavily last year: 21/04/2015 13:53 UK Regulatory (RNS & others) Acorn Minerals PLC Director/PDMR Shareholding "9. Number of shares, debentures or financial instruments relating to shares acquired 250,000" "13. Price per share or value of transaction 14.6 pence per share" 23/11/2015 11:50 UKREG Acorn Minerals PLC Director/PDMR Shareholding "9. Number of shares, debentures or financial instruments relating to shares acquired 450,000" "13. Price per share or value of transaction 150,000 at 9 pence per share and 300,000 at 9.5 pence per share" |
Posted at 08/6/2016 23:43 by phil1969 Hedge, you are right to point out its not as straight forward as Ssinachi makes it look to 25 bag.But most RTOs do result in the original shareholders of the shell being rewarded for their investment and patience. Directors are normally large holders and in the case of ACO haven't been paid over the last 4 years while they search for a suitable acquisition or RTO Normally a fundraising is also required which is the whole point in the new coming wanting to reverse into the shell but if it is a main listed company (ACO is main listed), less destructive financing options are available than AIM stocks leaving existing shareholders with a bigger slice. The company was set up with investors money at 20p they will expect a return on that investment. A good example is SEN, the last RNS states existing shareholders will get approx 15% of enlarged group. At closing mcap (£1.15m),this means the new company must be worth £7m just for existing shareholders to break even. But the business they are looking to reverse in could easily command a £30-£50m valuation. Giving a 5-7 bagger for those in just before suspension. ACO is of a similarly tiny mcap, main listed, directors and early investors still in, director buying in November. ACO share of the enlarged company may be a fraction of the total group but 8 times out of 10, the Mcap and share price of new company means original shareholders will see a good return, normally many bags. ACO has been as high as 35p on speculation of acquisition alone so plenty of upside. Shells setup to take advantage of low oil prices in the hope of bagging a distressed producer/explorer have also had better offers from the tech and biotech sectors. One to watch, suspension normally comes with any announcement made so it is normally a speculative buy and hold because you're locked out until the deal has gone through. The sudden increase in volume and share price has me thinking we won't need to be holding too long before a deal is announced as has been the case with the last few shells to announce their intentions. |
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