Rentokil Initial Share Discussion Threads

[hedgehog 100] 01/2/2016 19:46

"... BY CAROLINE HYDE 1 FEBRUARY 2016

... Bloomberg Business Innovators 2016

... Sure there are many start-ups we highlighted that are clearly tech motivated. Take Cambridge Quantum Computing…well it’s in the name! An amazing business, developing an operating system to drive faster quantum computers and busy patenting an algorithm for a secure currency platform. ..."




CQCL's secure currency platform sounds a particularly exciting development in the 'fintech' sector ... and it bodes well for TGL given its strong links with CQCL.

[swizz] 01/2/2016 05:14

One to watch for February IMHO is FBDU at 1.5p, which is a Trevor Brown standard listed shell, looking to focus on logistics and tech, there are strong links with Peterhouse and with Dr Yu Li taking a seat on the board in November, it would not be a huge surprise to see the real deal activity kick off this month.....GL S

[loobrush] 31/1/2016 21:29

HWC-available stock

Shares in issue 8,740,000
Tied up
M. Szytko* 2,383,691 29.99%
R. B. Rowan 2,375,745 27.18%
P. Fellerman 1,100,000 12.6%
D. Wheatley* 396,040 4.98%
J. A. M. Hemming MP 276,300 3.16%
Sanchoria Investments Limited 271,090 3.10%

Total holdings (above 3%) tied up = 6,802,866---81.01 %

Maximum available = 1,937,134 shares at today's price of 15p value is £290,570

[loobrush] 31/1/2016 21:14

HWC (Highway Capital) (not an Aim co) in my view is the the shell most likely to go this month with the new board of heavyweight directors recently appointed none of which yet have a stake yet.
Could be an announcement any time so if you are going to board now is the time as it has quite a small free float.

[loobrush] 31/1/2016 21:14

HWC (Highway Capital) (not an Aim co) in my view is the the shell most likely to go this month with the new board of heavyweight directors recently appointed none of which yet have a stake yet.
Could be an announcement any time so if you are going to board now is the time as it has quite a small free float.

[loobrush] 31/1/2016 21:14

HWC (Highway Capital) (not an Aim co) in my view is the the shell most likely to go this month with the new board of heavyweight directors recently appointed none of which yet have a stake yet.
Could be an announcement any time so if you are going to board now is the time as it has quite a small free float.

[loobrush] 31/1/2016 21:14

HWC (Highway Capital) (not an Aim co) in my view is the the shell most likely to go this month with the new board of heavyweight directors recently appointed none of which yet have a stake yet.
Could be an announcement any time so if you are going to board now is the time as it has quite a small free float.

[loobrush] 31/1/2016 21:14

HWC (Highway Capital) (not an Aim co) in my view is the the shell most likely to go this month with the new board of heavyweight directors recently appointed none of which yet have a stake yet.
Could be an announcement any time so if you are going to board now is the time as it has quite a small free float.

[swizz] 31/1/2016 20:22

One to watch for February IMHO is FBDU at 1.5p, which is a Trevor Brown standard listed shell, looking to focus on logistics and tech, there are strong links with Peterhouse and with Dr Yu Li taking a seat on the board in November, it would not be a huge surprise to see the real deal activity kick off this month.....GL S

[hedgehog 100] 30/1/2016 20:00

29/01/2016 07:00 UKREG Premier Veterinary Group PLC Final Results

"Preliminary Announcement - Final Results for the year ended 30 September 2015

and

Notice of Annual General Meeting

London, UK, 29 January 2016 - Premier Veterinary Group plc (LSE: PVG) ("PVG" or the "Company") today announces its audited results for the year ended 30 September 2015.

Dominic Tonner, CEO of PVG commented:

"2015 has been a transformational year for the Company. Following the disposal of the veterinary clinics, management is now able to focus its attention on the development and expansion of Premier Vet Alliance which incorporates our preventative healthcare plan ("Pet Care Plan") and a veterinary buying group.

The number of pets on Pet Care Plan more than doubled to 82,000, whilst at the same time we continued to operate a successful and cash generative buying group. The strong growth in Pet Care Plan has continued since the year end and there are currently in excess of 100,000 pets benefitting from Pet Care Plan.

The Board believes that with this re-defined focus and continued investment a significant increase in shareholder value can be generated and that the Company is entering a very exciting phase of growth."

HIGHLIGHTS

-- Revenues and gross profit from continuing operations increased to GBP2.25m and GBP2.22m respectively (September 2014: GBP2.04m and GBP1.94m).

-- Pet Care Plan and PVA Buying Group contracts with over 800 veterinary clinics as at 30 September 2015.

-- Pets on Pet Care Plan more than doubled to 82,000 at 30 September 2015 (30 September 2014: 40,000).

-- Pet Care Plan launched by 58 overseas clinics achieving 3,000 pets on Pet Care Plan by 30 September 2015 (30 September 2014: nil).

-- Disposal of veterinary businesses in December 2015 for total expected cash payments of GBP6.5m (post year-end). ..."

[hedgehog 100] 28/1/2016 21:22

From HCP's 15th. January 2016 circular:

"2.3 Initial Programme

The Property Investment Adviser has initially identified four properties for the Company to look to acquire. The acquisitions would comprise a combined investment of around £1.3 million, of which it is expected that around 70 per cent. can be financed by debt. The Company would seek to raise the debt initially from Heritage Square a specialist property lender advised by Puma Investments as the Company believes this offers faster execution at competitive pricing. As the Company acquires more properties and builds up a portfolio of income producing properties, it will look to refinance this initial debt with a longer term facility. Two of the properties are already in operation as care facilities for children and available as sale-and-leaseback opportunities while the two other properties would be open market purchases of standard homes for conversion. The adaptation work required is modest with a subsequent local authority compliance check prior to receipt of a designated change of use.

The Company would endeavour to acquire each home with an existing lease in place and with an established care operator. In relation to the two open market purchases, leases would be entered into with the care operator on acquisition which would be subject only to approval of the change of use. The Company will target such leases to be for a minimum term of 20 years (25 years on properties initially identified) on full repair and insuring (FRI) basis, with annual rent increases linked to the consumer price index (CPI). The care operator for the four properties has recently secured a substantial, term care placement contract with Birmingham City Council and needs additional space. This contract will support the care provider’s ability to meet the lease payments. The care provider is a well-established operator with over 10 years’ experience, already operates a network of 19 residential care units, one specialist school and has 36 young people in its care. It is a substantial enterprise with 250 staff based within five local authorities and also undertakes ad hoc work nationwide.

The Property Investment Adviser has additionally identified a pipeline of similar transactions which it will introduce to the Company for the Company to seek to execute within two to three months of the close of the Capital Raising. The Property Investment Adviser would then aim to identify further acquisitions which would be part financed through raising further equity in a larger fundraising or raisings."

[hedgehog 100] 28/1/2016 18:33

Take a sip of this future SIP for your SIPP:


15/01/2016 07:00 UKREG Hotel Corp (The) PLC Placing & Open Offer and Notice of EGM

"... Placing and Open Offer of 12,454,765 New Ordinary Shares at 20 pence per share and issue of up to 4,151,485 Warrants

Proposed change of name to Specialist Investment Properties plc

... The Company currently holds approximately GBP300,000 in cash. In order to increase the cash resources available to the Board, the Company is proposing to issue new equity through an Open Offer to Shareholders to seek to raise up to GBP2.5 million. Under the Open Offer the Company will offer up to 5 of the New Ordinary Shares to Qualifying Shareholders for every 20 Existing Ordinary Shares held on the Record Date at the Issue Price.

In light of the fact that the Open Offer represents a significant multiple of capital relative to the existing market capitalisation of the Company, the Company has conditionally placed an aggregate of 10,000,000 New Ordinary Shares with Placees at the Issue Price, thereby providing assurance that the Capital Raising will provide minimum gross proceeds of approximately GBP2.0 million for the Company. To the extent that the Open Offer is subscribed by Qualifying Shareholders by amounts in excess of the difference between the Open Offer amount (GBP2.5 million) and the Placing (GBP2.0 million) the Placing will be reduced accordingly. ...

the Board has decided to implement a share reorganisation so that:
each holding of every 20 or more Existing Ordinary Shares will be consolidated into 1 New Share and one Deferred Share. ...

As a consequence of the Capital Reorganisation, each Shareholder's holding of New Shares will (ignoring fractional entitlements) immediately following the Capital Reorganisation becoming effective be one twentieth of the number of Existing Ordinary Shares held by them on the Capital Reorganisation Record Date. However, each Shareholder's proportionate interest in the Company's issued ordinary share capital will remain unchanged as a result of the Capital Reorganisation. ...

The Issue Price represents an 8.1 per cent. premium to the adjusted closing middle market price of 18.5 pence per Existing Ordinary Share on 14 January 2016 (being the last Business Day before the announcement of the Capital Raising), after taking into account the proposed Capital Reorganisation. ... "




Post the fundraising and capital reorganisation:

Circa £300,000 pre-existing cash

2,490,952 pre-fundraising shares post-consolidation

+ Up to 12,454,765 fundraising shares issued for up to circa £2.4M. net cash

= Up to 14,945,717 shares in issue, and up to circa £2.7M. cash after fundraising costs

= Circa 18.065p per share cash assuming full subscription (equating to about 0.903p per share cash pre-consolidation equivalent)

If the open offer is not fully subscribed then the cash pre share will still be very similar, due to the fewer number of shares in issue.


HCP is currently trading at 0.75p mid (0.7 - 0.8p spread).

[phil1969] 25/1/2016 10:02

HWC up 40% last week on new CEO appointment and RNS this morning confirming Significant shareholder Paul Fellerman (google him!!!) has added to his holding to take him to 12.6%

[hedgehog 100] 24/1/2016 16:38

Some key extracts from Touchstone Gold's new circular:


TOUCHSTONE GOLD LIMITED

NOTICE OF MEETING AND MANAGEMENT INFORMATION CIRCULAR WITH RESPECT TO THE SPECIAL MEETING OF SHAREHOLDERS TO BE HELD ON FEBRUARY 25, 2016

Dated January 19, 2016

… Background

The Corporation’s current operations consist solely of its indirect ownership of the GOS Business. The GOS Business is a UK-based, world-leading systems and solutions business for homeland security and government clients with the following principal businesses.

• Intelligence Gathering: a patent-protected family of products of bespoke hardware and software systems for mobile phone identity (IMSI/IMEI) retrieval for target identification and cellular ‘bug-sweeping’. The technology can also be adapted for e-borders monitoring and cellular explosive ordnance trigger detection. The products are currently being sold to security and law enforcement agencies across the world;

• Secure Communications: a system used by law enforcement agencies that delivers secure mobile telephony services to ensure privacy and security for all parties;

• Smartdesk Systems: provides intelligent call scheduling and messaging applications including interactive voice and text messaging tools, callback technologies, on-call registration and instant conference solutions; and

• GOS is a provider of mobile telephony solutions serving commercial and public sector customers.

In June 2015, the Corporation exercised an option to invest in unquoted new ordinary shares of Cambridge Quantum Computing Limited (“CQCL”), a company that develops tools for the commercialisation of quantum computers by understanding quantum protocols and also quantum algorithms.

The Corporation currently owns the GOS Business through TGL HK, as illustrated in the corporate structure chart below: …

The Common Shares do not currently trade on any stock exchange or market, having been voluntarily delisted from the TSX on April 23, 2014 and delisted from AIM on January 4, 2016. Further, the Cease Trade Orders issued by the OSC, BCSC and ASC are still in place as of today.

The Corporation is focused on developing the GOS Business, does not conduct any operations in Canada and does not anticipate doing so in the foreseeable future. Therefore, the Corporation’s current corporate structure, in which the GOS Business, a UK based business conducted through UK domiciled corporations, is owned indirectly by a Canadian domiciled corporation, is inefficient and is impeding the ability of the Board to finance and manage the business of GOS Systems.

After evaluating the Corporation’s strategic options and taking into account the above noted considerations relating to the GOS Business, the Board has concluded that it is in the best interests of the Shareholders and the Corporation for the Corporation to complete a series of transactions involving:

• the reorganization of its structure such that, (i) NewCo will acquire, directly or indirectly, all of the TGL UK Shares and CQCL Shares, and (ii) NewCo’s share capital will consist of 680,982,800 NewCo Shares (the “Reorganization”);

• the distribution of the NewCo Shares that Shareholders will receive from the Corporation on a reduction of capital of the Common Shares in connection with the discontinuance of the Corporation’s business or pursuant to the dissolution of the Corporation following the settlement of the Corporation's obligations and liabilities (the “Distribution”); and

• the voluntary liquidation and dissolution of the Corporation (the “Dissolution”) in accordance with the provisions of the Business Corporations Act (Ontario) (“OBCA”).

After giving effect to the foregoing transactions:

• the Shareholders will own the NewCo Shares in the same proportions as they owned the Common Shares as of the record date for the Distribution;

• NewCo will, directly or indirectly, own 100% of TGL UK, which will in turn continue to own the GOS Business; and

• the Corporation will cease to exist.

The commercial effect of the above will be that the Corporation’s shareholders will effectively exchange their shares in Touchstone for an equivalent shareholding in NewCo.

The following simplified chart illustrates the ownership of NewCo, TGL UK and the GOS Business after giving effect to these transactions: …

NewCo will not be a reporting issuer in Canada and its shares will not be listed on any stock exchange or admitted for trading in any stock market although it is NewCo’s intention to seek a listing in the medium term, subject to, among other things, the development of the GOS Business and market conditions.

As of the date hereof, NewCo Shares will not be a qualified investment for registered retirement savings plans, registered retirement income funds, deferred profit sharing plans, registered education savings plans, registered disability savings plans and tax-free savings accounts (collectively, “Exempt Plans”). Holders of Common Shares that own their shares in an Exempt Plan and receive NewCo Shares may be subject to penalties and other adverse consequences. See “Particulars of Matters to be Acted Upon - The Reorganization, the Stated Capital Reduction, the Distribution and the Dissolution – Risk Factors – The Transactions are Subject to Certain Canadian Tax Risks”. …

Following the Distribution, it is intended for NewCo to be developed as a mid-market international homeland security group providing leading edge intelligence gathering and secure communications products, solutions and services tailored to meet the needs of law enforcement and security agencies around the world. The directors of NewCo intend to focus primarily on organic growth. The directors will, however, consider acquisitions and joint ventures as an alternative to, or alongside, organic growth where they view them to be value enhancing, and where they add required technical capability or provide access to new markets. …

Certain UK Tax Considerations

… It should also be noted that the tax consequences will depend on the legal structure of the Distribution and that this has not yet been finalized. In addition, the Circular does not describe the UK tax consequences arising in connection with the acquisition, holding or disposition of NewCo Shares following the Distribution. …

[phil1969] 22/1/2016 07:26

Big news at HWC, another big appointment. New chairman!!!

[hedgehog 100] 21/1/2016 16:09

"Jan 19, 2016
New Corporate Structure and Posting of Circular"


"The Board of Touchstone announces that a circular (the "Circular") has been issued today convening a special meeting of shareholders setting out details of a proposal to change the corporate structure of the Company by transferring the business and assets of Touchstone Gold Limited (Ontario, Canada) principally comprising the GOS Systems business to a newly incorporated English company ("NewCo"). The commercial effect of the transaction will be that shareholders will effectively exchange their shares in Touchstone (which is a Canadian entity) for an equivalent shareholding in NewCo (a UK company).

The Directors believe that the new corporate structure will be better suited to NewCo's intention to seek a listing in the United Kingdom, subject to, among other things, the development of the GOS business and market conditions. The move to the UK will materially reduce administration costs as it will no longer be necessary to operate across legal jurisdictions in Canada and England and reflects not only the predominant spread of shareholders but also moves away from the legacy issues related to mining and natural resource ventures in South America that were conducted prior to 2013.

The circular will be made available on the Company's website."

[purple11] 17/1/2016 11:21

yawn...

for real RTO action grab the MRS

[keya5000] 10/1/2016 21:02

Surprised no one picked up on this.



Portage wants an AIM listing, LIFE wants a RTO.

They both have Jim Mellon

[still waiting] 09/1/2016 19:01

Tern in the header at 1.75p, now at 15pish and £8m m cap ( a good value for deals) maybe ready for another rto to get scale in the red hot data security actor, recently recruited a Highflyer director from Intel who was responsible for trade partnerships etc.

[moormoney] 09/1/2016 17:01

High hopes Hedgehog that patience will pay off in spades!!! Agree with you about the new name too
Go INTELICRYPT tactical solutions!!

[hedgehog 100] 09/1/2016 16:39

Two directors of Touchstone Gold and Touchstone's company secretary have just registered a new company called:

INTELICRYPT TACTICAL SOLUTIONS LIMITED



"Incorporated on 5 January 2016" - The day after TGL delisted, quite a 'coincidence'.

"Registered office address 32 St. James'S Street, London, England, SW1A 1HD" - Same address as Touchstone Gold, and Stanhill Merchant Bank.

It looks like this could be the new holding company for GOS Systems, for its relisting.

And I like the name: more exciting for a share than GOS Systems, and better portrays what the business does.

It also better allows for subsequent acquisitions.

[eezymunny] 07/1/2016 13:03

NBNK not mentioned on this thread? By my sums about 36p/share in cash.

Seems something may happen soon...

www.investegate.co.uk/nbnk-investments-plc--nbnk-/rns/update-and-continuation-of-the-company/201601070700060824L/

news.sky.com/story/1617087/crisis-era-vehicle-nbnk-still-hunting-deal

"examining the purchase of a financing business based in Ireland as well as a technology company"

With Crystal Amber holding a big stake here it might be interesting times. Or not!