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| Share Name | Share Symbol | Market | Stock Type |
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| Rentokil Initial Plc | RTO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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| 6.70 | 1.67% | 407.70 | 16:35:19 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 408.90 | 404.30 | 409.60 | 407.70 | 401.00 |
| Industry Sector |
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| SUPPORT SERVICES |
| Top Posts |
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Posted at 13/2/2024 08:41 by sunshine today I can understand that, that policy has served me well in the past.That said LOOK how many of the shells ( 40 ) to start, are gone today taking all investors cash with them. 31 dead, and all down bar 3. Good luck. |
Posted at 19/10/2023 21:04 by essentialinvestor Back in the day they offered office services, less specialist.If you read through the FY presentation on the investor relations sight it will answer most of your questions. |
Posted at 23/8/2023 20:58 by hedgehog 100 The shell company ASHI floated at 3p per share in June, market cap. £1.841M., compared to net cash of £717K., including its net IPO proceeds.That didn't look cheap, but to its credit it has suspended (at 2.75p) for a RTO, valued at well over £100M., just two and a half months later:- 06/06/2023 08:01 UK Regulatory (RNS & others) Ashington Innovation PLC Ashington - Admission to trading on the LSE LSE:ASHI Ashington Innovation Plc "Admission to trading on the London Stock Exchange Ashington Innovation plc, a special purpose acquisition company ("SPAC") aiming to benefit from favourable price conditions for companies in the financial services technology (fintech) and deep technology (deep tech) sectors, is pleased to announce that its entire issued ordinary share capital, consisting of 61,397,900 ordinary shares, was admitted to the Standard Listing Segment of the Official List of the Financial Conduct Authority, and to trading on the London Stock Exchange's Main Market for listed securities at 8.00 a.m. today, under the ticker "ASHI". ... About Ashington Innovation plc Ashington Innovation PLC is a special purpose acquisition company (SPAC), formed with the intention of acquiring businesses operating in the technology sector, in particular the financial services technology and deep technology sectors. The Company believes that in the increasingly fast-changing global environment there will be an abundance of opportunities to acquire existing businesses in the technology sector, and in particular businesses that possess and utilise proprietary technologies and own applicable intellectual property. The Company is not limited to any specific geographic region in identifying its target companies. Both Jason Drummond and Jason Smart, directors of the Company, bring a wealth of experience in founding and building successful companies across a diverse range of sectors. www.ashingtoninnovat 17/08/2023 08:10 UK Regulatory (RNS & others) Ashington Innovation PLC Heads of Terms Signed LSE:ASHI Ashington Innovation Plc "Heads of Terms Signed Proposed Reverse Takeover of Cell Therapy Limited Suspension of Listing Conditional Acquisition of Cell Therapy Limited Ashington Innovation (LSE:ASHI), the Special Purpose Acquisition Company (SPAC) established to acquire businesses primarily in the technology sector, is pleased to announce that the Company has entered into a non-binding term sheet (the "Term Sheet") with Cell Therapy Limited ("Cell Therapy") pursuant to which Ashington Innovation will acquire 100% of the total issued equity for GBP135 million in an all share transaction (the "Transaction"). Cell Therapy is a clinical stage biotechnology firm with a portfolio of patented cellular medicines with a lead program that successfully completed an early-stage human clinical trial in heart failure. The Directors of Ashington Innovation consider the Transaction to represent a transformational, value enhancing transaction for shareholders, which is fully aligned with the Company's growth strategy. Cell Therapy's product and patent portfolio provides a platform to develop leading medicines, which have been validated in a human clinical trial and through granted patents in the US, UK, EU and Asia. To fund the Transaction, Ashington Innovation will be seeking to carry out a placing of new ordinary shares to new and existing investors ("Placing") to raise funds of up to GBP3 million to finance the drug development program and working capital. As such, the Transaction is conditional, inter alia, on the completion of due diligence, definitive sale and purchase documentation, obtaining the necessary regulatory approvals from the FCA and the Takeover Panel, a successful Placing, and the passing of necessary resolutions to approve the Transaction by the shareholders of the Company at a duly convened general meeting. Suspension of Listing As the proposed acquisition, if it proceeds, will constitute a Reverse Takeover under the Listing Rules, the Company's ordinary shares shall be suspended pending the publication of a prospectus or an announcement that the proposed Transaction is not proceeding. Any restoration of the listing is subject to the approval of the FCA. At this stage, there can be no guarantee that the proposed Transaction will complete nor as to the final terms of the proposed Transaction. Further announcements and updates will be made in due course. Jason Smart, Founder of Ashington Innovation, commented: "We are delighted to have agreed a heads of terms to acquire Cell Therapy. During the past few months, we have reviewed numerous projects and believe the proposed acquisition meets our stated objective of identifying a potentially extremely valuable entity capable of sustainable development and with significant technological advantages. The directors believe that the regenerative medicine and biotechnology sector presents compelling opportunities to create value for shareholders and the proposed acquisition presents a high-quality target with an experienced and expert leadership. This is a very exciting opportunity to bring a scalable business with a strong track record to the public markets." " Ashington Innovation (ASHI):- |
Posted at 24/6/2023 13:50 by hedgehog 100 One of mii favourite shells at the moment:-Milton Capital (MII) 0.9p Market cap. £0.9M. 04/10/2022 07:10 UK Regulatory (RNS & others) Milton Capital PLC First Day of Dealings LSE:MII Milton Capital Plc "Admission to a Standard Listing and to trading on the Main Market of the London Stock Exchange First day of dealings Admission details Milton Capital plc (LSE: MII) announces that 100,000,000 Ordinary Shares will today be admitted to the Standard Segment of the Official List of the Financial Conduct Authority and to trading on the Main Market for listed securities of the London Stock Exchange. The placing of new ordinary shares has successfully raised a total of GBP950,000, at a placing price of GBP0.01 per share. Highlights: -- One Price for All - All investors have come in at the same IPO price; no Founder Shares or pre-IPO rounds; no warrants; no options. -- No Advisory/Broking Fees - The Company's advisor and broker, Peterhouse Capital, has agreed to waive all advisory fees and commission on all funds raised at the IPO and will receive no annual retainer. -- Capped listing and on-going costs - - The IPO costs, including all accounting, legal, PR and Exchange fees, which amount to GBP55,955, have been capped at GBP50,000 by Peterhouse Capital and as such, post Admission, the Company will have net proceeds of GBP950,000 ; - Total costs for the first full year after listing are also capped at GBP50,000. -- No ongoing director salaries - The Company's directors will receive no salaries or consultancy fees; compensation will only be received by way of a success fee on the completion of an acquisition approved by shareholders. Strategy The Company was formed to undertake one or more acquisitions of a majority interest in a company or business. Any such acquisition undertaken by the Company will be treated as a reverse takeover for the purposes of Chapter 5 of the Listing Rules. The directors intend to search initially for acquisition opportunities in the technology sector. The theme focus for the prospective acquisition is megatrends. This includes sectors such as space, artificial intelligence, machine learning and blockchain technology. Megatrends are powerful, transformative forces that can change the global economy, business and society. They drive innovation and redefine business strategies and have a meaningful impact on how we live, how we spend our money and how we invest. The disrupters in particular have produced dynamic profits for early-stage shareholders. Admission details Prior to Admission, the Company had 5,000,000 Existing Ordinary Shares in issue and conditional on Admission issued 95,000,000 Placing Shares. All Existing Ordinary Shares and Placing Shares were issued at a price of GBP0.01 per share. ..." |
Posted at 10/6/2023 17:20 by hedgehog 100 Hedgehog 100 18 Nov '22 - 18:00 - 1004 of 1012 Edit 0 0 0"Thanks Sweet Karolina. So to summarise:- • 'Pre-existing' main-listed shells that listed by 2.12.21 can still arrange a sub £30M. RTO (minimum only £0.7M.), up until 1.12.23 completed FCA submissions; after that they can still arrange RTOs, but subject to the £30M. minimum. • 'New' main-listed shells can still float with a sub £30M. market cap. (previous minimum only £0.7M.), up until 2.6.23*, if they completed their FCA submission by 2.12.21. - But these shells will be subject to the £30M. RTO minimum. *Presumably actual listing, rather than just another submission." The shell Ashington Innovation (ASHI) floated on the main market 4 days ago, and has a current market cap. at 3.5p of £2.15M.; its final prospectus date was 1st. June, so it could well be that the the 2nd. June deadline relates to the final prospectus date. ASHI's prospectus dated 1st. June 2023:- 06/06/2023 08:01 UK Regulatory (RNS & others) Ashington Innovation PLC Ashington - Admission to trading on the LSE LSE:ASHI Ashington Innovation Plc "Ashington Innovation plc, a special purpose acquisition company ("SPAC") aiming to benefit from favourable price conditions for companies in the financial services technology (fintech) and deep technology (deep tech) sectors, is pleased to announce that its entire issued ordinary share capital, consisting of 61,397,900 ordinary shares, was admitted to the Standard Listing Segment of the Official List of the Financial Conduct Authority, and to trading on the London Stock Exchange's Main Market for listed securities at 8.00 a.m. today, under the ticker "ASHI". ..." |
Posted at 18/11/2022 18:38 by hedgehog 100 Regarding your questions S.K.The RTO route may have attractions to the IPO route that may give it additional 'value' to a company wishing to float:- • A requirement to give away less equity than in an IPO. • Potentially more speed and certainty - an aborted IPO due to market conditions could be very expensive, and time is money. • The 'shellmeisters' may also have attractive business acumen, contacts, and 'clout', that may be attractive to the floating company. And if the company floating is valued at hundreds of millions, then a shell value of a few £millions may be just 1% of the expanded equity, which is comparatively insignificant. Obviously any overpriced new issue, be it RTO or IPO, is likely to underperform compared to a good value new issue, other things being equal. But a key determinant of performance is how the company performs on a business level. Some of the best performing shares of all time have looked far from cheap at their floatation prices; whereas some shares that have looked cheap at float have failed to deliver. Finally, if you look at some the big paper gains at proposed RTOs recently, as posted on this thread, then I think that explains the logic in getting in beforehand if the value and prospects look good. You can also buy more at the RTO too if you like it, though retail investors often can't participate in fundraisings, and investing through an ISA or SIPP would be another barrier. |
Posted at 16/11/2022 19:13 by hedgehog 100 From the Alterion Earth (ALTE) prospectus, 17.6.22:-"Size of Acquisition Target: The Company will not comply with the minimum market capitalisation ("MMC") requirements of £30 million under LR 2.2.7R(1) on Admission. The Company completed submission to the FCA for a listing eligibility review prior to 4:00 pm on 2 December 2021 and such application has not been withdrawn or materially amended ("IPO Application"). Given the IPO Application and the proposed date for Admission, the Company is able to proceed with its current application for Admission based on transitional arrangements established for application for admission to listing. On Admission, the aggregate market value for all shares to be listed by the Company must exceed £700,000. An Acquisition will result in a Reverse Takeover which would result in the cancellation of the Company's listing and it would need to apply for the enlarged share capital of the Company to be admitted to trading. At such point, the eligibility of the Company would need to be reassessed. Whilst the Directors believe that they will be able to undertake an Acquisition which will enable it to comply with any adjusted MMC requirement of £30 million, the Directors cannot guarantee to investors that the Company will be able to satisfy the new eligibility requirements. If the Company is unable to satisfy new eligibility requirements its listing will be cancelled, and this may result in the Shareholders holding Ordinary Shares in an untraded public company or it may otherwise seek a listing on an alternative stock exchange which may not provide similar levels of liquidity" "For a company to be eligible for a premium or standard listing of shares, it must have a minimum market capitalisation of £30 million. This is a substantial increase above the long-standing previous minimum of £700,000, but less than the £50 million originally proposed by the FCA. The requirement only applies when the company is first listed, or on re-listing after a reverse takeover, so existing listed companies will be largely unaffected. There are also exceptions for companies that applied to the FCA for a listing eligibility review before the rule change, and existing listed SPACs and other shell companies that seek an FCA eligibility review in relation to a de-SPAC acquisition and re-listing by 1 December 2023." Sweet Karolina, New main-listed shells now need a minimum initial market cap. of £30M., unless they initiated the process by 2.12.21, and haven't withdrawn or materially amended it. In addition, my understanding is that new RTOs into a main-listed shell need a minimum initial expanded market cap. of £30M., unless the shell was listed by 2.12.21, and the RTO FCA process is initiated by 1.12.23. With regard to your final point: not all proposed RTOs proceed, for different reasons, but I haven't noticed your trend. CCAP was an AIM shell that delisted, so it was hardly surprising that its target no longer wished to reverse into it. If CCAP had remained listed the RTO would probably have proceeded. MTFB's target, rejected by its shareholders, also then IPOed, but would have gone with MTFB if that had been approved. |
Posted at 22/7/2022 18:34 by hedgehog 100 And this little 'ToMaTo' could yield some right juicy growth, with such abundant cash.TMT Acquisition (TMTA) 18p Market cap. £4.95M. 08/11/2021 07:00 UK Regulatory (RNS & others) TMT Acquisition PLC Half-year Report LSE:TMTA Tmt Acquisition Plc "Unaudited Interim Results TMT Acquisition (LSE: TMTA), the investment business established to pursue opportunities in the technology, media and telecom sector, today announces its unaudited interim results for the period from 25 March to 30 September 2021. Harry Hyman, Non-Executive Chairman of TMT Acquisition, said: "We are delighted with outcome of the listing and the support shown from institutional shareholders. In the short time we have been on the market we have already started evaluating a number of investment opportunities and look forward to updating shareholders with developments when appropriate." ... On 11 October, the Company was admitted to listing on the standard segment of the Official List and to trading on the main market for listed securities of the LSE, raising gross proceeds of GBP5 million (net proceeds of GBP4.73 million) from institutional investors. As at 31 October 2021, current assets were approximately GBP4.83 million. ..." |
Posted at 25/5/2022 20:15 by hedgehog 100 NZI was suspended for a RTO last week.And it looks like a good one: a significant, profitable business in an exciting, buoyant space:- 19/05/2022 08:11 UK Regulatory (RNS & others) Net Zero Infrastructure Plc Proposed Acquisition and Suspension of Listing LSE:NZI Net Zero Infrastructure Plc "NZI, a special purpose acquisition company formed with the intention to acquire renewable or clean energy technology companies and to finance, develop and promote those environmentally sound projects internationally, is pleased to confirm that it has signed a non-binding letter of intent ("LOI") to acquire the entire issued share capital of Taylor Construction Plant Limited and Solar Highways Limited ("TCP" or "the Target"). TCP is a UK based infrastructure services business, for a combination of cash consideration and new shares in the Company (the "Proposed Transaction"). ..." Anyone who was dumping NZI at barely 2p per share recently must be kicking themselves, as if the RTO goes ahead - which it's odds on it will - then a share price of 4p+ looks pretty much nailed on. But challenging stock market conditions often throw up bargains like this: sometimes due to distressed sellers; but sometimes just due to people dumping at the bottom of a trough out of fear. And shells in particular often have a fairly typical share price pattern: an initial spike, often fueled by punters who don't appreciate the timescales and dilution of RTOs, followed by a lengthy, steady decline as boredom, impatience, and reality sets in. Which can then be followed by a RTO at a higher share price - sometimes much higher. Experienced investors can use this pattern to their advantage, waiting patiently for the optimum point to buy in. The more things change, the more they stay the same. Which is why TMOR looks well worth a punt at/near its one penny 4th. March IPO price. More Acquisitions (TMOR) 0.975p Market cap. £1.22M. |
Posted at 15/1/2022 11:48 by hedgehog 100 Have a gander at this Uganda graphite play, which could be 'simply the BRESt'!Blencowe Resources (BRES) 3.95p Market cap. £6.4M. "Blencowe Resources (BRES.L)* 15th December 2021 Following the recent publication of Blencowe Resources’ Preliminary Economic Assessment (PEA) on its Orom-Cross graphite project in Uganda and GM approval by shareholders last week for a £2m over-subscribed funding at 5.0p, in this research note we analyse the PEA’s conclusions to determine a risked based valuation and look ahead to key news events anticipated. ... We have used the NPV8 of $317m from the Orom-Cross PEA to determine a risked based valuation by deducting 40% for development/resource risk, 60% for finance risk and 25% for country risk to arrive at an estimated $57.1m (£43m) value. This equates to a price per share for Blencowe of 27p and FEQ’s share price target. ... A price target of 27p represents a more than 4 times uplift from the current share price of 4.45p. The market valuation still seems anchored in the past prior to the Company revealing a JORC resource statement and outlining its very strong economic case for a graphite mine in the PEA announcement at the end of September. We believe a significant market re-rating awaits Blencowe Resources, as investors begin to appreciate the size and scale of the low-cost project being developed and its importance in feeding the EV market with essential battery grade graphite. For these reasons and those outlined above, we recommend the shares as a ‘Buy’ and suggest investors position themselves in the stock. ..." |
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