Base Group Share Discussion Threads

[digital sport] 16/6/2007 22:55

Clarendon- dont worry about it now i have checked with a friend of mine who is a broker in the city. You are right. They will relist under the new company name when the deal is done. Good news for all concerned . thanks clarendon.

[digital sport] 16/6/2007 19:41

Clarendon- what i dont understand is how can a company ie Base group. issue new shares on the Aim market in July when it has been cancelled by the market and is no longer a listed company. Please explain because i for one have never come across this scenario before. Also what market rules apply?

[uknighted] 16/6/2007 15:19

Clarendon, I expect the old shares will be consolidated into the new shares and that there will be very little value in this for the old shares. Still, something has to be better than nothing.
If you take the benefit (£10m usable tax losses) and divide that by the 850m shares it equates to 1.1p. What we don't know is the true worth of the other company.
As always, we will just have to sit and wait and see if any crumbs are tossed in our direction.
Regards UK

[clarendon] 16/6/2007 11:29

UK - research and digging around - surprising what you can find out.

[uknighted] 16/6/2007 11:26

Well done Clarendon - I won't ask how you knew. Let's see what happens now.
Regards UK

[clarendon] 16/6/2007 11:10

Good news comes to all who wait!!

Unknighted - yes it was tangible information.

There must be a share reorganisation as well. There are 849,881,049 shares already in issue so 40m new shares raising £10m values the existing shares at £227M - I think not!

[jonwig] 16/6/2007 10:24

According to Investors Champion:

Base Group Plc, an AIM listed cash shell is placing 40,000,000 new shares on the 16th July 2007 at a price of 25p per share. It is using the money to purchase Aegis Engineering Limited, a leading designer, manufacturer and distributor of body armour to UK police forces amongst others. This is effectively a reverse takeover.

Apparently Base Group has usable tax losses of about £10m.

You can get the whole document by contacting:

[flc] 15/6/2007 17:11

ever decreasing

[to350] 15/6/2007 16:54

dont hold your breath anyone, this seems to be going round in circles.

[uknighted] 15/6/2007 14:44

Clarendon Are these "expectations" based on hopes or do you know something more tangible? Regards UK

[clarendon] 15/6/2007 14:23

Godolphin - You are slightly missing the point but lets stop going over the same thing and see what happens. As I said I was expecting something this week but it now looks like next week but such is life !!

[godolphin] 15/6/2007 13:55

clar - the £3m is only for investment companies to prevent shells be set up.
There's no point in a RTO unless the company is listed. As I said Base Group is now worse than an off the shelf plc or new plc as it has a long history. The listing was the only thing going for it.

[clarendon] 15/6/2007 13:28

dbno - I understand not but we should have seen something this week so.......

[dbno] 15/6/2007 10:51

So, are we dead in the water, or not??

[clarendon] 14/6/2007 20:32

godolphin - because you can undertake a reverse takeover by issuing paper that is worth less than £3m (the minimum amount you can raise (in cash) on an IPO). Due diligence is always an issue with a long established company but with a company that has had no trade through it for a number of years and bear in mind most claims would be statute barred after six years chances of a problem are significantly reduced.

The reality is that there is very little difference in costs between a rto and an ipo

[godolphin] 14/6/2007 16:47

clar - my point was "why reverse into a non listed company and then start at stage 1 for a float?". You may as well create a PLC with the same name as your limited company and start from scratch with them. Base Group is just another non listed company now that it is cancelled - it will actually cause more work to reverse into it than setting up a new PLC because the lawyers will have to go through every deal back to the seventies when it first started, that's before they apply for a totally new listing.

[clarendon] 14/6/2007 16:40

Digital - yes but have you received your certificate yet?

[digital sport] 14/6/2007 16:37

Returning to your point regarding any announcement - I have asked around and have been told that the re-admission documemnt would have to be posted out so there will be no RNS - great for people who have the shares in nominee accounts.

Clarendon- you are wrong about this because once a share has been delisted the nominees are not allowed to hold the certificates. They must be delivered to the named owner.

[clarendon] 13/6/2007 20:07

godolphin - reversing something into Base will enable the company to apply to be relisted. Bear in mind that with the changes in the AIM rules in 2005 any new listing has to raise a minimum of £3m whereas a reverse into a listed shell does not have a minimum requirement. Cash shells are becoming harder to find so company's such as Base are worth saving - people like AB will make a shedload on the relisting.

Flightstore (which did not have a business or any cash until a few guys decided to do a small refinancing excercise - it still has no business) is in the same position as Base - the shares have been de-listed but I understand that there is a similar transaction being proposed there.

Returning to your point regarding any announcement - I have asked around and have been told that the re-admission documemnt would have to be posted out so there will be no RNS - great for people who have the shares in nominee accounts.

I'm still confident we will see something here soon

Have a look at NWD - that went into administration with big debts but Nigel Weller has picked it up put a cva together and is relisting it at the end of the month

[to350] 13/6/2007 18:15

Sold to the man in the blue hat

[digital sport] 13/6/2007 18:11

I'll plump for 99.9

[to350] 13/6/2007 12:57

make it 99

[godolphin] 13/6/2007 12:43

clar - Why would anyone reverse into an unlisted company? It's cancelled not suspended. They would have to start from scratch so they may as well do it themselves. If I were clutching at straws I could think of a one or two scenarios, I mean Flightstore is cancelled but still has a future (maybe?) but Base didn't have a business or cash, but strange things happen, so I wouldn't rule it out 100% - just 90!

[clarendon] 13/6/2007 12:08

godolphin - the listing can be reinstated if the company makes an application for re-admission. This would normally be coupled with a reverse takeover

[godolphin] 13/6/2007 09:21

They were cancelled by the stock exchange as per the old 6 month rule which has existed for years. Any broker worth his salt would know that! The company would have been warned, the FTSE published a RNS a few days before the final cancellation RNS that came from the Stock Exchange.
Given that there was no trading business and no cash the only asset would have been the listing itself - that has gone so now it's just the same as hundreds of dead PLCs that can be found at companies house.