Impellam Share Discussion Threads

[last of the mohicans] 07/10/2024 13:37

Hi Pejaten

Well that's another Quarter, passed us by & locked-in to the calculations now

LOTM

[pejaten] 24/7/2024 04:19

Yes, this is looking like a remarkably good deal. I should have bought more impellam when I had the chance!

[last of the mohicans] 24/7/2024 00:54

Hi Pejaten,

I was looking at the A convertible notes again

· Unless previously redeemed, the Tranche A Convertible Loan Notes will convert automatically into "Class A Ordinary Shares" and "Class A Preferred Shares" in the capital of Bidco (the "Conversion Shares") on the date falling 12 months and one day following the date of payment of the Cash Consideration and issuance of the certificates in respect of the Loan Notes under the Scheme.

· The number of Conversion Shares to be issued upon conversion of all of the Tranche A Convertible Loan Notes will represent 10.0 per cent. of the fully diluted ordinary share capital and 10.0 per cent. of the fully diluted preferential share capital of Bidco in each case as at immediately prior to the Effective Date, as set out in a capital table which will be scheduled to the instrument constituting the Tranche A Convertible Loan Notes.

· Bidco may elect to redeem the Tranche A Convertible Loan Notes in whole or part by giving not less than 7 days' written notice to the noteholders (specifying the principal amount of Tranche A Convertible Loan Notes to be redeemed and the redemption date) expiring not later than 1 July 2024 (the "Initial Tranche A Redemption Period"), upon which redemption noteholders will be entitled to receive payment in full of £1.0834 for every £1.00 of principal amount of Tranche A Convertible Loan Notes redeemed.

· If Tranche A Convertible Loan Notes are outstanding following the expiry of the Initial Tranche A Redemption Period, at any time up to and including the maturity date, Bidco may elect to redeem the Tranche A Convertible Loan Notes in whole or part by giving at least 30 days' written notice to the noteholders, upon which redemption noteholders will be entitled to receive: (i) payment in full of £1.1001 for every £1.00 of principal amount (excluding capitalised interest) of Tranche A Convertible Loan Notes held; plus (ii) any related capitalised interest and any related accrued interest in respect of such Tranche A Convertible Loan Notes that has not yet been capitalised (including all capitalised and non-capitalised compounded interest).

· The Tranche A Convertible Loan Notes will accrue interest at a rate of 12.0 per cent. per annum, compounding and capitalised quarterly and payable upon redemption of the Tranche A Convertible Loan Notes, provided that no accrued interest will be payable in respect of any Tranche A Convertible Loan Notes that are redeemed during the Initial Tranche A Redemption Period.

· If a change of control of Bidco occurs and Bidco has not elected to redeem the Tranche A Convertible Loan Notes in whole as described above, a Noteholder Majority may, by giving notice to Bidco in advance of such change of control, require that Bidco converts all (but not only some) of the outstanding Tranche A Convertible Loan Notes immediately prior to such change of control on the same basis described above.

· The Tranche A Convertible Loan Notes will also be converted automatically into Conversion Shares in the case of certain customary events of insolvency.

---------------------

So the initial redemption period has now ended

Therefore if they want to redeem them we now get 30 days notice.

We are now entitled to £1.1001 per £1 of the A's plus interest at 12% compounded quarterly (given the 1st quarter has now past, the 12% is therefore now compounding on £1.03 instead of £1).

So if they redeemed them now we would be getting over £1.13 in total per £1 of the A's & that figure effectively increases by just over 1p per month going forward until April 2025.

At which point they either redeem them for around £1.225 per £1 of A's or they convert them into ordinary shares.

So we will actually get more £££'s than I had previously thought !

LOTM

[last of the mohicans] 17/7/2024 16:53

Hi Pejaten,

Looks like they didn't exercise the right to buy back the Convertible loan notes early.

Unless you know otherwise?

LOTM

[pejaten] 04/7/2024 04:39

Latest announcement says that book value per share about 83 cents double issue price and that they intend in due course to list on AIM

[pejaten] 02/7/2024 12:48

I always try and stay well clear of anything to do with Africa. I hate minority interests as well! So not my type of investment, although have to believe that Ashcroft knows what he is doing

[last of the mohicans] 01/7/2024 23:48

Hi Pejaten :)

Thanks for the update :)

Not the sort of deal I was expecting at all, nothing like what was described in the previous documentation as to the areas the company would look at!

Not to mention such a minority interest in the company as well.

Basically there going to own 10% of it & that's it for now, all the cash spent etc & added funds raised.

Unless they go & buy an interest in something else in a few month's time & turn Tapir into some sort of investment fund of some kind.

I guess I'll be exiting Tapir in due course then. Only got my Share certificate late last week to! :(

What are your thought about it ?

LOTM

[pejaten] 29/6/2024 11:24

Acquisition
The directors of Tapir Holdings Ltd. (the "Company") wish to announce that the Company has incorporated
a wholly owned subsidiary, Tapir Venture Holdings Ltd under the laws of the British Virgin Islands, having
its registered office at Craigmuir Chambers, Road Town, Tortola, VG 1110, British Virgin Islands (“Tapir
Venture”), through which, subject to shareholder approval of the Company, a 10% equity stake in
Rendeavour Holding Limited ("Rendeavour") comprising of 102,155 ordinary shares, will be acquired, for
a total consideration of US$87,512,102.30 (the "Acquisition"). The 10% equity stake being purchased in
Rendeavour will be acquired by a combination of the subscription by Tapir Venture of new ordinary shares
in Rendeavour and the purchase of interests held in Rendeavour by four separate shareholders (the
"Sellers"). The general terms in relation to the Acquisition are contained in a Master Transaction
Agreement which was executed on 26 June 2024, and which terms are further particularized under
separate transaction agreements.
Rendeavour is an exempted company organised and existing under the laws of Bermuda, having its
registered office at Crawford House, 50 Cedar Avenue, Hamilton HM 11, Bermuda. Rendeavour is a lead
investor in East and West African land platforms focused on providing high quality infrastructure, planning
and urban management to create the foundation for satellite cities that reverse the current trend of
unplanned development and urban congestion in Africa.
The funding for the Acquisition will be through a combination of cash and the issuance of new shares in
the Company. More specifically: i) the Company is expected to receive a total of USD$34,236,589.78 from
the issuance of new shares to Lord Ashcroft (or a company with which he is affiliated) further to the
Company's receipt of his subscriptions for shares; ii) the Company is expected to receive a total of
USD$10,000,000 from the issuance of new shares to Lockington Partners Limited, a company incorporated
in Bermuda, further to the Company's receipt of its subscription for shares; iii) the Company will also
receive a total of USD$4,999,493.10 from the issuance of new shares by way of a limited private placement
to qualified investors; iv) the Company will also provide USD$15,500,000 from its cash reserves; and v) the
Company will issue new shares valued at USD$22,776,019.42 to one of the Sellers, as consideration for
the Company's purchase of a part of that Seller's shares in Rendeavour.

[pejaten] 29/6/2024 09:03

Tapir Holdings has acquired a 10% stake in Rendeavour for consideration of US$87m. Business is land developer in Africa. The share capital goes up from 45m to 247m.

[last of the mohicans] 25/6/2024 22:10

Hi Pejaten :)

Thanks for the update :)

LOTM

[pejaten] 25/6/2024 17:29

I have not heard anything yet...

[last of the mohicans] 25/6/2024 13:59

Hi Pejaten, :)

No news on the A convertible notes then & whether they are going to payout early on them then?

Only a couple of days left for them to decide if they haven't already made up there minds.

LOTM

[pejaten] 30/5/2024 12:34

Good to hear! Hopefully there will be some excitement in coming months on the two new companies

[last of the mohicans] 30/5/2024 11:19

Hi Pejaten,

Finally got paid out on the B shares !

Only what 27 days late! :(

I wonder what will happen with the A shares next, will they re-deem them early as well, or let them run for the full year ?

LOTM

[last of the mohicans] 25/5/2024 03:00

Hi Pejaten,

I'll try the ones on that RNS next - thanks :)

I looked around before & I found 1 email address that seemed to work but I never got a response to & the telephone number was useless, went to British Virgin Islands!

Still not been paid out on the B convertible loan notes :(


Yes family been in OCN a very long time, since 2002

LOTM

[pejaten] 21/5/2024 10:01

If you go to the Bermuda Stock exchange website, there is a page for each company, with the announcements that they make. If you look at the latest announcement it gives details of email, phone and mail address

Incidentally I see you follow Ocean Wilsons. Now that is a company I like

[last of the mohicans] 13/5/2024 14:04

Hi Pejaten,

Smart Investor, can't payout the B convertible loan notes because they haven't received them apparently!

Or any of the loan notes !

6 weeks & there corporate actions team still hasn't sorted things out :(

You don't by any chance have a number for either Heather Ventures or Tapir ?

Thanks
LOTM

[last of the mohicans] 08/5/2024 15:37

Hi Pejaten,

Thanks for letting me know :) I can now chase up smart investor for mine & that will be going in MIRI & hopefully take me to 1.5M need 175K for that

I'm shocked by the pricing of the placing, yesterday's announcement show just what a botched job it has been.

LOTM

[pejaten] 08/5/2024 12:50

I received the redemption monies now.On MIri, I have looked at but just worried about the heavily discounted cash calls.

[last of the mohicans] 07/5/2024 07:51

Hi Pejaten,

Will you please let me know when you've received your "B" payout as I will need to chase up smart investor afterwards no doubt to get mine.

They are sending out Certificates of some kind to me for the Tapir & Heather holdings & thus removing them from my ISA

Thanks

LOTM

[last of the mohicans] 28/4/2024 03:10

Hi Pejaten :)

I had to scramble to buy another 100,000 just before the close on Friday (1.98p) as I wasn't around most of the afternoon & missed a LinkedIn post! :(

Amazon has been seen in recent posts & one of Mirriad's key contacts was at a AmazonPrime premier on Thursday night it was after that got posted on Friday afternoon that some buying occurred.

I'll get to that 1M number on Monday probably.

Hope your research is going well.

LOTM

[last of the mohicans] 26/4/2024 09:35

Hi Pejaten :)

Yes I know :) but there is no way they are going to do that, it would be madness for them to re-pay it early & pay interest on the money they borrowed to do so on top!

I'm hoping they ask for the extension on the 17% notes for another year. I know its only on part of your holding but still its a great return.

You've even made me go & find them on the TISE but not found a quoted price yet for heat2027 :(

I just hope that re-payment goes into my ISA account !

-----------

I've just bought another 100,000 MIRI so that's me up to 800,000 now.

I forgot to say there also in some sort of collaboration with Microsoft! & the CEO posted a message that some sort of interview/webinar with Microsoft will be coming out soon! & that was 3 weeks ago now, but its not there's to release its Microsoft's. Microsoft & a £9M company !



Good Luck
LOTM

[pejaten] 26/4/2024 09:05

Thanks for heads up. I will take a look.When I look at the prospectus again, i note that if they redeem the 3 year loans early they have to pay interest for 3 years in full, which is quite amazing.

[last of the mohicans] 26/4/2024 09:00

Hi Pejaten,

I should have posted some links for you .......

I think these are a really good read for anyone new or just starting to look at Mirriad. Seriously worth taking the roughly 15 mins to read them.

22nd April 24





(this one is about Auto Brands highlighting both Lexus & Nissan) Having just viewed it, it would appear that there has been a lot more VPP (Virtual Product Placement) going on than we realised, from 28th March 2024

And the was from 11th March 2024.



This is earlier - AT&T amongst others although I think its probably from Q4 2023.

LOTM

[last of the mohicans] 26/4/2024 08:04

Hi Pejaten :)

I've just been away reading the documents again !

I was really worried that it was the 17% 3 year notes that would really have annoyed me.

So we get the bonus of cash back early & 8% on our money for 1 month :) that's cool :)

I could really do with the cash right now so an added bonus for me :)

I guess my 3,000 Impellam shares will get me about £2,100 all told.

If your interested in something very special that is going completely under the radar then have a look at Mirriad MIRI

I only came across it it 3 weeks ago & have been buying it up slowly. Its only capitalised at £9M & was worth over £63M when it floated years ago.

London South East (LSE) has a couple of posters who are just a feast of good info & have helped me understand the sheer reach of the business (I use the same name there).

There is going to be a few bits of news before the end of May, but honestly Pejaten, the opportunity they have is unbelievable. They have signed up 40% of the USA content providers for TV etc (that's 6 out of the top 9 & are negotiations with another of the top 3 (they have 1 of them onboard already) which would take them to over 55% of the market. They do virtual product placement ads in programs.

I'm petrified it gets taken over in the near term ! :(

Yes they may need 1 more lot of cash £5M max to see them through to profitability but this should be a £100M market cap company by 2026 at the latest & if everything falls into place as it is a lot sooner than that.

I'd strongly advise you to have a look & to do your own research.

I've bought 700,000 shares so far at an average of just over 2p & I'll be taking that up to at least a 1M in the next couple of days, which will be like 0.2% of the company :)


Keep in touch & thanks

LOTM