Aura Renewable Acquisiti... Share Discussion Threads

[hedgehog 100] 15/5/2023 15:58

Change % Chg Cur Bid Offer High Low Open Volume Chg Time RN NRN
0.75 13.6% 6.25 6.00 6.50 6.75 5.50 5.50 548,789 15:40:24

Recent Share Trades for Aura Renew Acq (ARA)
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
15-May-23 15:40:53 6.50 76,448 Buy* 6.00 6.50 4,969 O
15-May-23 15:40:28 6.11 32,831 Sell* 6.00 6.50 2,006 O
15-May-23 15:40:27 6.11 20,000 Sell* 6.00 6.50 1,222 O
15-May-23 15:40:09 6.15111 97,641 Sell* 6.00 7.00 6,006 O
15-May-23 15:38:41 6.25 20,000 Sell* 6.00 7.00 1,250 O
15-May-23 15:35:48 6.525 75,000 Sell* 6.50 7.00 4,894 O
15-May-23 15:23:26 7.00 92,260 Buy* 6.00 6.50 6,458 O
15-May-23 12:26:35 6.50 59,609 Buy* 5.00 6.50 3,875 O
15-May-23 12:10:28 5.98 25,000 Buy* 5.00 6.00 1,495 O
15-May-23 12:09:41 5.84 50,000 Buy* 5.00 6.00 2,920 O

LSE % Gainers Top Lists
EPIC Name %
CLA Celsius Resources +33%
NNN Nanosynth +24%
AVO Advanced Oncotherapy +23%
EST East Star Resources +21%
GSCU Great Southern Co... +18%
UKOG Uk Oil & Gas +18%
ARA Aura Renewable Ac... +14%


ARA gave up some of today's gains near the end, but has still finished seventh on the top risers list.

And what's also noticeable is the record daily volume of 548,789 ARA shares traded.
That's actually over 5% of the shares in issue, and is double the previous record.

[hedgehog 100] 15/5/2023 14:52

ARA is currently showing as third on the top risers list:-

LSE % Gainers Top Lists
EPIC Name %
CLA Celsius Resources +33%
AVO Advanced Oncotherapy +23%
ARA Aura Renewable Ac... +23%

[shortcpx] 15/5/2023 14:47

Bit of spirit today. That's what we like.

[hedgehog 100] 14/5/2023 11:14

Another battery stock enjoying enhanced investor enthusiasm this year is Ilika (IKA): it's share price has doubled this year, from 24.25p to 48.5p (market cap. £76.57M.)

The company has recently made its first customer shipments of its stacked Stereax® M300 batteries from its UK manufacturing facility.



11/05/2023 07:00 UK Regulatory (RNS & others) Ilika plc First Customer Shipments of Stereax M300 Batteries LSE:IKA Ilika Plc

"First Customer Shipments of Stereax(R) M300 Stacked Batteries

Ilika (AIM: IKA), a pioneer in solid-state battery technology, announces it has made a number of first customer shipments of stacked Stereax(R) M300 batteries from its UK manufacturing facility. Further to its announcement of 11 April 2023, these shipments are the first of a series of planned deliveries of Stereax M300 batteries to customers including CubeWorks, the developer of millimeter-scale smart sensing solutions for IoT, and Lura Health, a leading developer of wearable intraoral biosensors for salivary diagnostics. Stereax batteries can be configured such that they can be stacked, which provides customers with the flexibility to adapt the battery capacity for their application.

The small form factor of M300 batteries is of particular interest to Ilika's customers due to their compact, high-density and high-power characteristics. CubeWorks is designing CubiSens(TM) , a next generation sensing platform, aiming to transform biopharma cold chain logistics, security control, asset protection and environment monitoring. ..."




Ilika (IKA):-

[hedgehog 100] 11/5/2023 17:36

"I can’t tell you how it came to take me so many years to learn that instead of placing piking bets on what the next few quotations were going to be, my game was to anticipate what was going to happen in a big way."

Jesse Livermore

[shortcpx] 10/5/2023 23:10

John Zorbas the CEO. Dodgy AF

[hedgehog 100] 10/5/2023 19:10

COMPARE & CONTRAST:-

1. Newly floated ESG shell Seed Capital Solutions (SCSP): 0.875p, market cap £1.622M.

12/04/2023 12:09 UK Regulatory (RNS & others) Seed Capital Solutions PLC Admission of Shares to Standard List LSE:SCSP Seed Capital Solutions Plc
"Seed Capital Solutions plc (LON: SCSP), a Company formed for the purpose of acquiring a business or businesses operating in market sectors that can display strong ESG credentials, is pleased to announce that commencement of dealings in its Ordinary Shares is expected to take place today, 12 April 2023 ("Admission"). ..."


From Seed Capital Solutions' prospectus dated 31st. March 2023:-

"The Net Subscription Proceeds after deduction of expenses, will be approximately £837,000 on the basis that the Company has raised gross proceeds of approximately £971,000 pursuant to the Subscription."





2. Aura Renewable Acquisitions (ARA): 5.5p, market £577.5k. Cash c. £800K.

ARA's market cap. is over a million pounds less than that of SCSP's, despite the fact that they have a very similar amount of cash.

And in addition:-

• ARA's directors are unpaid, whereas SCSP's three directors are each paid £24K. p.a.

• ARA's directors are more experienced, including ESG sector experience, and have achieved more success.

• ARA floated thirteen months ago, and is far further down the road to a RTO than SCSP.

[tomboyb] 07/5/2023 13:17

Hedgehog, I bought IPX around 7pish I think -

It was a long time ago, it doubled and I sold -

However, the aptitude for Green investments is just starting -

[hedgehog 100] 07/5/2023 10:31

Impax Asset Management (IPX) shows the strong investor appetite for green investment, and the fantastic returns that can be achieved in this area:-

"About Us
A specialist asset manager, investing in the opportunities arising from the transition to a more sustainable global economy.
Founded in 1998, Impax Asset Management has pioneered investment in the transition to a more sustainable global economy and today is one of the largest investment managers dedicated to this area."



(IPX) has a current market cap. of over a billion pounds, with a P/E in the mid 20s, and a market cap. of about six times its annual revenue.

And its share price has 200-bagged within the last twenty years, from a mid 2003 low of c. 3.5p, to its current share price of 799p.


Impax Asset Management (IPX):-

[hedgehog 100] 06/5/2023 18:46

ARA's chart pattern is exhibiting the classic double bottom technical formation, a bullish reversal signal.


From Investopedia.com:-

"What Are Double Bottom Patterns?

Spot Major Potential Trend Reversals with Double Bottoms

By JAMES CHEN Updated October 13, 2022
Reviewed by CHARLES POTTERS
Fact checked by MICHAEL LOGAN

What Is a Double Bottom?

A double bottom pattern is a classic technical analysis charting formation that represents a major change in trend and a momentum reversal from a prior down move in market trading. It describes the drop of a security or index, a rebound, another drop to the same or similar level as the original drop, and finally another rebound (that may become a new uptrend). The double bottom looks like the letter "W." The twice-touched low is now considered a significant support level. While those two lows hold, the upside has new potential.
1

In terms of profit targets, a conservative reading of the pattern suggests the minimum-move price target is equal to the distance of the two lows and the intermediate high. More aggressive targets are double the distance between the two lows and the intermediate high. ...

While the double bottom low remains in place, price movement is likely to exhibit a retracement higher and possibly indicate the beginning of a new uptrend. ..."

[hedgehog 100] 06/5/2023 13:55

Change % Chg Cur Bid Offer High Low Open Volume Chg Time RN NRN
0.50 10.0% 5.50 5.00 6.00 5.50 5.00 5.00 89,175 16:02:44

Recent Share Trades for Aura Renew Acq (ARA)
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
05-May-23 16:02:33 5.50 6,720 Buy* 5.00 5.50 369.60 O
05-May-23 14:55:40 5.49 14,390 Buy* 5.00 5.50 790.01 O
05-May-23 08:54:25 5.475 18,065 Buy* 5.00 5.50 989.06 O
05-May-23 08:37:44 5.45 50,000 Buy* 4.50 5.50 2,725 O


A nice end to the week yesterday for ARA: up 10% to 5.5p mid, on volume of 89,175 shares traded - all of which were buys.

There was under £5K. of stock available to buy yesterday for c. 5.5p/share, before the ask moved up to 6p.

So it shouldn't take much more buying to move ARA swiftly back up to the 7.5p - 8p range, to at least reflect its cash per share: anything less seems absurdly incongruous.

[hedgehog 100] 05/5/2023 12:03

From ARA's prospectus dated 5 April 2022:-

" ... The Directors believe that their existing relationships will enable the Company to access investment opportunities in the Global Renewable Energy Sector Supply Chain. In particular, David Fitzsimmons and Guy Ranawake provide the Board with considerable experience and in-depth knowledge of the global renewable energy market. The Company will continue to conduct research and regularly monitor the renewable energy industry for potential targets. ..."




In Messrs Fitzsimmons & Ranawake, you could hardly wish for a more ideally and impressively suited pair of directors to attract and arrange a great green energy RTO:-

"David Fitzsimmons, Non-Executive Director

David Fitzsimmons is highly experienced in the energy business, in both executive and non-executive positions. After a 27-year career with BP, from 1978 to 2004, he served as CEO of the UK listed renewables company Novera Energy for 4 years, from 2005 to 2009. He has subsequently advised a number of other renewables companies, including serving on the strategic advisory board of Braemar Energy in New York from 2005 to 2020.

Currently, David is a Member of the Technology Expert Service at Imperial College and has been since 2019, providing support and guidance on the commercialisation of its technologies, and has been a member of Pearlstone Energy’s Advisory Board from 2018.

Additionally, David is Chairman of Locate in Kent (appointed in 2015) , the Inward Investment Agency for Kent, as well as a Governor of Skinners Kent Academy (appointed in 2011). David has also been appointed as a director of the Skinners’ Academy, with effect from 1 January 2022. David was made Chairman of Dig Deep in 2021, having been a director and trustee since 2017, a charity that brings clean water and hygiene training to rural communities in Kenya.

Previously, David served as a director at the Renewables Energy Association (REA) from 2007 to 2009 and the International Petroleum Exchange (IPE) from 1996 to 1997. He resides in the United Kingdom.

Guy Ranawake, Non-Executive Director​

Guy Ranawake is an experienced financial professional with considerable experience in the renewable energy space. He is currently an Independent Adviser to a variety of technology-focused SMEs including Exagen (from 2020) (a grid-scale solar and storage developer), with a particular focus on business strategy and capital raising. Most recently, in December 2021, he became a Designated Member of SRC Partners LLP, an LLP set up for the purpose of fund management focused on private market opportunities in the sustainability and energy transition space.

Guy is also Chair of the Dalgarno Trust, having been appointed in November 2020, a charity that aims to improve the lives of those living in North Kensington, London.

From 2016 through to 2020, Guy was the Senior Investment Director and Fund Manager of Ingenious Group, an Alternative Investment Fund Manager (“AIFM”) authorised and regulated by the FCA, where he managed infrastructure and infrastructure technology funds investing in renewable energy assets and technology providers, involved in businesses such as smart grids, electric vehicle charging, and energy efficiency solutions.

He also has prior experience at Evercore (2008 to 2015), Barclays (2007 to 2008) and Citi (1995 to 2003), where he held director positions in their respective Energy and Infrastructure teams. Guy has been an Associate of the Institute of Chartered Accountants of England and Wales (“ICAEW”) since 1993, having qualified with PWC (1990 to 1995). He resides in the United Kingdom."

[hedgehog 100] 05/5/2023 11:22

ARA are making sure in advance that investors will back their intended RTO deal, and the board looks very credible and well-connected for this purpose:-

16/01/2023 07:00 UK Regulatory (RNS & others) Aura Renewable Acquisitions PLC Post Year End Operational Update LSE:ARA Aura Renewable Acquisitions Plc
" ... The Company has actively and selectively reviewed potential international acquisition targets since listing and at the same time the Board has taken soundings from the investor community to seek to best fit investment appetite with the opportunities available. ..."


05/04/2023 07:00 UK Regulatory (RNS & others) Aura Renewable Acquisitions PLC Annual Results LSE:ARA Aura Renewable Acquisitions Plc
" ... The Company continues to actively review potential acquisition targets at various stages of development and operating in a number of geographic regions, all of which have potential global relevance. We also continue to take soundings from the investor community to thereby best fit investment appetite with the opportunities available. ..."

[hedgehog 100] 04/5/2023 14:53

Some more 'SPAC spec.'

Another potential energy storage RTO into ARA, to Superdielectrics, could be this impressive privately-held British battery tech company:-


"Power to make a difference.

Delivering a step change in energy density by creating class-leading battery materials to realise a more sustainable world.

Batteries are critical for meeting future energy demand, but what if we could use fewer of them?

More energy.
Less space.

Nexeon’s silicon anode material replaces graphite in traditional battery cells, dramatically increasing energy density."




"Applications

Today's challenges require new solutions.

Electric Vehicles

Lithium-ion is the dominant battery technology for the electric vehicle market. Nexeon can help to produce lighter, cheaper and more powerful battery packs.

Wearable Devices

The wearables market continues to push the boundaries by delivering more features and performance in smaller devices. Nexeon can enable a significant increase in space and mass efficiency.

Medical Devices

Specialist batteries face even more stringent design constraints. Nexeon can help to improve the overall user experience and comfort for those reliant on these critical devices.

Consumer Electronics

Devices from cameras, power tools and drones to laptops and phones are in need of high power and high charge and discharge rate battery capability. Nexeon materials are compatible with high power applications."




"Our Technology

The next generation of battery materials, ready for use today.

Our technology has unlocked the potential of silicon-based anodes, delivering a step change in energy-dense materials. Backed by over 170 patents and an extensive portfolio of industry-leading cell manufacturing and automotive partners, we are paving the way to a sustainable, electrified future.

Harnessing the power of silicon

Silicon has ten times higher specific capacity than graphite and is capable of holding more lithium in a given mass.

This means it has enormous scope to make cells with a higher energy density. Silicon is currently being adopted as a partial replacement for carbon in battery anodes, but problems arise from expansion and contraction when the cells are charged and discharged.

Nexeon's NSP1™ and NSP2™ flagship materials have overcome this hurdle, making silicon anodes a viable transformative technological solution at scale.

Introducing the era of Generation 2 battery materials."




And interestingly, the company's website states that it is "perfectly positioned to scale our business" ... which suggests that it could be an ideal time to float:-

"About us

Nexeon is a global leader in the development and manufacturing of ground breaking silicon based anode materials, dramatically enhancing the performance of Lithium-Ion batteries.

Our leadership team boasts decades of experience in inventing and bringing new technologies to market across the chemical, battery and automotive industry. Our talented teams come from a wide range of industries and academia, including from leading companies of battery material chemistry, major cell manufacturers and Automotive OEMs.

With our HQ based in Oxfordshire, UK and a technical centre in Yokohama, Japan, our scientists armed with expertise in inorganic chemistry and synthesis, electronics, battery technology and process engineering, are perfectly positioned to scale our business and provide a strong base for supporting our partners and customers."

[hedgehog 100] 03/5/2023 17:32

03/05/2023 15:45 UK Regulatory (RNS & others) Aura Renewable Acquisitions PLC Result of AGM LSE:ARA Aura Renewable Acquisitions Plc

"Results of the Annual General Meeting ('AGM')

The Company announces the voting results of its AGM, held earlier today at the offices of DMH Stallard LLP, 6 New Street Square, New Fetter Lane, London EC4A 3BF. All resolutions were duly passed by shareholders by way of a poll. ..."

[hedgehog 100] 03/5/2023 14:52

ARA's RTO target selection has been subtly but noticeably advanced and refined this year, as is shown by a comparison of the company's mid January and mid April updates.

On 16th. January, ARA simply gave battery tech. companies as an EXAMPLE area of interest, albeit the only such example named.

But by 19th. April, ARA had moved on to specify this as their PARTICULAR area of interest... i.e. no longer merely just an example.

Reading between the lines, it looks like discussions and evaluation to date in this area have been productive, and the next significant step could be the signing of heads of terms.


16/01/2023 07:00 UK Regulatory (RNS & others) Aura Renewable Acquisitions PLC Post Year End Operational Update LSE:ARA Aura Renewable Acquisitions Plc
" ... The Company has actively and selectively reviewed potential international acquisition targets since listing and at the same time the Board has taken soundings from the investor community to seek to best fit investment appetite with the opportunities available.
Amongst others, and by way of example, companies in the energy storage sector, developing next-generation battery technologies, have drawn the Company's attention. Batteries play an essential role in the energy sector supply chain, facilitating the transition to a net zero economy and a more sustainable environment.
Many countries, including the United States and the United Kingdom, have realised the importance of secure domestic supply chains and have introduced legislation, government grants and other incentives to support their battery industries - an example being the Inflation Reduction Act under the President Biden Administration. ... "


From the 19.4.23 ARA video interview:-
"... The sectors that we're particularly interested in are in energy storage generally, but particularly in battery technologies. ..."

[hedgehog 100] 03/5/2023 08:56

The UK's first Lithium-Ion battery recycling plant has just been approved.

And the share price of its part owner, Technology Minerals (TM1), has more than doubled recently, from 0.875p on 24th. March, to 2.25p today (market cap. £34M.)

This is a sign that investor enthusiasm for battery stocks is returning, and that this essential industry is developing strongly.

In which case an ARA RTO in this area could be perfect timing, and hugely profitable.


25/04/2023 07:00 UK Regulatory (RNS & others) Technology Minerals PLC EA Approves Lithium-ion Battery Recycling Plant LSE:TM1 Technology Minerals Plc

"EA Approval for Lithium-ion Battery Recycling Plant

UK's first industrial scale lithium-ion batteries recycling facility to commence operations after securing EA permit and ABTO status

Technology Minerals Plc (LSE: TM1), the first listed UK company focused on creating a sustainable circular economy for battery metals, is pleased to announce that its 48.25% owned battery recycling business, Recyclus Group Ltd ("Recyclus"), has received final clearance from the Environment Agency ("EA") to commence full operations at its lithium-ion ("Li-ion") battery recycling plant in Wolverhampton, West Midlands. Recyclus has also been awarded Approved Battery Treatment Operator ("ABTO") status by the EA, allowing it to commence recycling operations immediately, with on-site treatment and processing of spent Li-ion batteries.

The EA permit allows Recyclus a daily storage limit of 140 m(3) (c.100 tonnes) and to process up to 22,000 tonnes of Li-ion batteries per annum. It is expected that 8,300 tonnes will be processed in the first year, utilising a single shift pattern of labour during the standard working week. Applications for licence variations to operate additional shifts will be considered in due course as will the potential to increase processing capability.

The approval from the EA for the Wolverhampton plant is a major milestone for Recyclus, making it the first industrial scale plant in the UK with the capability to recycle Li-ion batteries. Operations will commence on completion of the fire prevention systems installation which is expected shortly. This will be followed immediately by a plant commissioning phase, which is expected to commence in June this year.

Following commencement of operations, Recyclus anticipates the receipt of gate fees for collection and storage of Li-ion batteries, and from the sale of black mass, produced from the recycling process. Black mass contains critical battery metals that can be sold back into the battery supply chain.

Recyclus owns the IP for both the process and the plant which is designed to process most Li-ion battery types. Recyclus will manufacture all plants, including those designed specifically for OEM clients, here in the UK. Recyclus's aim is to increase the UK processing capability to c.50,000 tonnes per annum through the construction of five more Li-ion recycling plants.

BIS Research latest study, Black Mass Recycling Market - A Global and Regional Analysis, states the global black mass recycling market, valued at $9.22bn in 2022, is projected to reach $53 bn by 2031.

Robin Brundle, Chairman of Technology Minerals, said: "We are pleased to announce that we have received final EA approval to commence full automated operations at our Li-ion battery recycling plant in Wolverhampton. This is a significant moment for the Company and the UK. The Wolverhampton plant has become the first facility in the UK with the capability to recycle Li-ion batteries on an industrial scale.

"Given the global shift towards electrification and the growing demand for Li-ion batteries, we believe we have a compelling first mover advantage in this burgeoning market. Our aim is to establish enduring partnerships with businesses and organisations, both in the UK and internationally, offering them an environmentally friendly solution for their end-of-life batteries. With feedstock stored and ready to be processed, everything is in place to ramp up operations at the facility and start generating revenues." ..."




Technology Minerals (TM1):-

[shortcpx] 03/5/2023 00:04

Thanks for sharing. Bodes well

[hedgehog 100] 02/5/2023 17:07

Some very relevant and encouraging news last week for ARA from PNPL, a shell with significantly less cash than ARA, but a market cap. well over four times higher (£2.28M. at 2.74p):-

24/04/2023 08:00 UK Regulatory (RNS & others) Pineapple Power Corporation PLC Proposed RTO of Element 2 Limited LSE:PNPL Pineapple Power Corporation Plc

"Heads of Terms signed

Proposed Reverse Takeover of Element-2 Limited

Suspension of Listing

The Company is pleased to announce that as of 21 April 2023 it has entered into a non-binding heads of terms with Element 2 Limited ("E-2" or "Element 2"), based in Yorkshire in the United Kingdom, to acquire 100% of the outstanding shares in E-2 in an all-share transaction, subject to legal, financial and other due diligence and entry into a legally binding sale and purchase agreement (the "Proposed Acquisition"). As no binding agreement has yet been reached, the Company cannot guarantee that the Proposed Acquisition will complete.

About Element 2

Element 2 is the UK's leading hydrogen refuelling business. The company works closely with vehicle manufacturers, transport operators and fleet owners to identify and develop hydrogen refuelling sites and provide a regular supply of fuel cell grade hydrogen. ...

The Proposed Acquisition

Following recent discussions, on 21 April, 2023 Pineapple Power entered into non-binding heads of terms with E-2 for the acquisition of 100% of the issued share capital of Element 2 for a consideration of GBP120 million, to be satisfied by the allotment and issue of new ordinary shares in Pineapple Power to the shareholders of E-2. It is envisaged that, in conjunction with the Proposed Acquisition, there will be an equity financing to fund future investment and working capital requirements of Element 2. ..."

[hedgehog 100] 02/5/2023 10:41

ARA look to have narrowed down their area of focus considerably since they floated just over a year ago:-

"... The sectors that we're particularly interested in are in energy storage generally, but particularly in battery technologies. ..."



This suggests that they have identified this as the most attractive and prospective area for a valuable and successful RTO, and that the discussions with potential RTO target companies they have referenced are wholly or partly in this area.

Due to market conditions, there has been a lack of such floats last year and this, which should mean a good choice of quality RTO candidates in this area.

One such could potentially be Superdielectrics, which had to abort its intended IPO last year due to market conditions:-


"Spencer’s electric windfall

Jamie Nimmo
Sunday September 19 2021, 12.01am, The Sunday Times

Icap billionaire Lord Spencer of Alresford is in line to double his money as an energy technology company he backed last year eyes a £500 million float.

Superdielectrics, which is developing supercapacitors — alternatives to batteries that use an electric field instead of chemicals and are expected to play a big part in electric cars and renewable energy — has hired WH Ireland for a possible Aim listing that could see it raise up to £100 million, sources said.

The Cambridge-based company, funded by former ITM Power boss Jim Heathcote, received a £15 million cash injection last year led by Spencer, 66, that valued it at about £250 million. ..."





"STORING SUSTAINABLE ENERGY WITHOUT COSTING THE EARTH

A BREAKTHROUGH ENERGY STORAGE TECHNOLOGY

Clean technology that complements existing solutions and solves the world’s renewable energy storage problem"

[hedgehog 100] 30/4/2023 09:58

This extract from the new ARA interview looks uber bullish:-

"... So we're starting to see valuations for SPACS in transactions heading up, and recently there have been some in London where the SPAC has been valued at multiple times of its cash balance, and multiple times the value of its original market cap. at the time it came to the market. So we see that as being very encouraging, and a positive sign for our shareholders going forward. ..."


For ARA, these are the multiples concerned:-

2 - 3 times current cash = c. 15p - 22.5p / share
2 - 3 times IPO price = 20 - 30p / share

Compared to the current ARA share price of just 5p per share.


The shell TMOR is a good comparator here, and earlier this month it announced a positive update on its intended RTO progress:-

23/09/2022 07:45 UK Regulatory (RNS & others) More Acquisitions PLC Acquisition - Megasteel and Suspension of Trading LSE:TMOR More Acquisitions Plc
" ... Proposed Acquisition values the current issued share capital of More at GBP2.81 million (vs GBP1.19 million at closing on 22 September 2022) or over 2.3 times the Company's current net cash ..."


17/04/2023 07:00 UK Regulatory (RNS & others) More Acquisitions PLC Update on Proposed RTO LSE:TMOR More Acquisitions Plc
"Further to the announcement on 23 September 2022 regarding the proposed acquisition by More of Megasteel Limited ("Megasteel") (the "RTO" or the "Proposed Acquisition"), the Company is pleased to confirm that preparations for the publication of a prospectus and admission of the enlarged group to trading on the London Stock Exchange are now well advanced. ..."

[hedgehog 100] 29/4/2023 20:04

Some extracts from the new video interview with ARA's Chairman John Croft:-

"... The renewables sector is a hot sector ... there's a lot of interest, a lot of excitement around the sector, and there are some great companies that are coming into the market.

... we've been in touch with a number of companies across the globe, looking at potential opportunities.

... We don't have many costs. We had some costs around the IPO itself, but apart from that there are no fees being paid to directors or anything like that, so our cash is pretty well preserved.

... we disclosed that we had over eight hundred thousand pounds of our original million still in the bank, and that will last us a very long time.

... we've been working quite hard in the background.

... we're very hopeful, put it like that, that we can do a transaction in this year. The sectors that we're particularly interested in are in energy storage generally, but particularly in battery technologies.

... there's a huge opportunity there ... I'm very hopeful we'll do something this year.

... with the minimum capitalisation having been moved up to thirty million pounds, it means actually that that valuation of the SPAC in the context of an overall transaction is relatively small. So we're starting to see valuations for SPACS in transactions heading up, and recently there have been some in London where the SPAC has been valued at multiple times of its cash balance, and multiple times the value of its original market cap. at the time it came to the market. So we see that as being very encouraging, and a positive sign for our shareholders going forward. ..."