Rentokil Initial Share Discussion Threads

[nick rubens] 22/6/2016 16:02

Anyone know cash level at GWIK? cheers NR

[hedgehog 100] 18/6/2016 19:33

Specialist Investment Properties PLC (SIPP) has been drifting down recently on very low volume, despite positive newsflow. It's obviously overlooked, but that could soon change.

At 16.5p it is at the bottom of its long-term trading range, at the price of the warrants from its recent fundraising at 20p, and below the level of the cash it had after that fundraising.

13,204,411 shares in issue x 16.5p current mid price = £2.18M. market cap.



SIPP looks to have attractive potential in both the short, medium and longer terms:

1. SHORT/MEDIUM TERM.

• Strong positive newsflow as the company finishes executing its initial property investment programme.

• Follow-up company development: larger fundraising(s), and further acquisitions.

• Dividend policy: "The Company is targeting a dividend yield of seven per cent. per annum, and your Board expects to pay the first dividend in Q1 2017."

2. MEDIUM/LONGER TERM.

• Growth in dividends.

• Capital growth: " ... these properties can offer attractive returns on equity and the prospect of medium term capital growth as the chosen specific property category grows and becomes better appreciated by mainstream property investors."

• Move to increased rating as the company grows, develops a track-record in its new sub-sector, and becomes more widely-appreciated by the market.

[hedgehog 100] 13/6/2016 17:55

Now for a new RTO that hasn't been heard of on this thread before.

The main-listed shell Mithril Capital (MITH) completed an RTO of Agenda 21 in November of last year and transferred to AIM, listing as Be Heard Group (BHRD).

Be Heard Group (BHRD) 3.275p Market cap. £21.4M.




18/11/2015 07:00 UK Regulatory (RNS & others) Placing to raise ?5.5m upon AIM Admission ...

"… Be Heard announces the successful pricing of its conditional placing of new ordinary shares (the "Placing") ahead of the admission of its ordinary shares to AIM, a market operated by the London Stock Exchange PLC ("Admission") and completion of the proposed acquisition of Agenda 21 Digital Holding Limited ("Agenda 21") (the "Acquisition").

· The Placing with institutional investors and directors by Numis Securities Limited ("Numis") is expected to raise gross proceeds of £5.5m.
· The placing price has been set at 3.25 pence per ordinary share (the "Placing Price").
· 169,230,770 new shares will be issued pursuant to the Placing, representing 50.8 per cent. of the ordinary shares in issue upon Admission.
· 35,450,030 new shares will be issued to the founders of Agenda 21 pursuant to the Acquisition to satisfy approximately 35% of the total initial acquisition consideration of £3.3m, with the balance to be paid in cash. These new shares will be subject to a 12 month lock-in.
· Based on the Placing Price, the total market capitalisation of the Company upon Admission will be £10.8m.
· The Company has also changed its name from Mithril Capital plc to Be Heard Group plc. …"

[hedgehog 100] 11/6/2016 20:22

Coincidentally, 23rd. May also saw another shell being suspended for a RTO: AIM-listed GWIK (formerly the property company Treveria (TRV)).

Glenwick (GWIK) 0.1675p (currently suspended) Market cap. £3.7M.




23/05/2016 11:34 UKREG Glenwick PLC Statement re. Suspension

"The Board of Glenwick (AIM: GWIK), notes the recent speculation regarding Glenwick and a potential acquisition.

Glenwick confirms that it is in advanced discussions for an acquisition. The potential acquisition would constitute a reverse takeover under the AIM Rules for Companies and would therefore, inter alia, be subject to shareholder approval.

As a result, the Company's ordinary shares have been suspended from trading on AIM as of 10.20am today. Trading in the Company's ordinary shares will be suspended until such time as an admission document containing a notice of general meeting of the Company is published in relation to the potential acquisition or the Company announces that the discussions have been terminated.

The Company will update shareholders as and when appropriate."

[hedgehog 100] 10/6/2016 21:02

ONZ finished today up 0.15p (10.9%) at 1.525p after Daily Mail coverage, but traded as high as 1.85p during the day (at 10a.m.) before falling back.

"SMALL CAP MOVERS: Onzima Ventures thinks the resources sector has turned the corner, taking stakes in a number of players

By JOHN HARRINGTON, PROACTIVE INVESTORS FOR THISISMONEY.CO.UK

PUBLISHED: 13:01, 10 June 2016 | UPDATED: 13:01, 10 June 2016

Has the resource sector turned the corner? Investment firm Onzima Ventures seems to think so.

It recently revealed that it has been very active in building up stakes in a number of small cap mining and energy stocks, namely Alecto Minerals, Bushveld Minerals, Ferrum Crescent, Hummingbird Resources, Jubilee Platinum, MX Oil, Prospex Oil & Gas and Regency Mines.

The investments have been parked in its Asset Trading division, which according to a stock market announcement from Onzima this week 'has thus far made a number of positive returns on its investments'.

That probably explains why the shares were up almost 50 per cent on the week to around 1.6p, despite the company raising £150,000 through the issue of 15 million shares at a penny a pop. ..."

[hedgehog 100] 10/6/2016 20:18

A new main-listed shell that has not been SENt to this thread before:

Senterra Energy (SEN) 4.25p (currently suspended) Market cap. £1.1M.




At listing on 10th. November 2015, the Company issued 25,000,000 new ordinary shares at a price of 5 pence per share, raising GBP1.25 million before expenses.

23/05/2016 07:45 UK Regulatory (RNS & others) Senterra Energy PLC Possible Acquisition and Suspension of Trading

"The Directors of Senterra Energy are pleased to inform shareholders that it has signed a non-binding letter of intent ("LOI") to acquire the entire issued share capital of Oasis Smart Sim PTE Ltd, a sim-card technology business based in Singapore ("Business") for new shares in the Company (the "Acquisition"). The Acquisition, if completed, would result in Senterra shareholders having around 15 per cent. of the enlarged group (the "Group") prior to the impact of any associated fund raising.

Oasis was founded in 2010 and is a limited private company incorporated and domiciled in Singapore where it is also headquartered. The company's principal activities are in the design, manufacture and distribution of telecommunication software and other telecommunication activities. In the financial year to 31 December 2015, Oasis had an unaudited turnover of approximately US$13 million.

Oasis's current production portfolio includes a full range of 2G, 3G and 4G compatible SIM cards, available in different sizes, capacities, formats and using different system technologies. In addition Oasis is also developing software and solutions to enable entry into the market where SIM functionality will be embedded into connected devices. …"

[hedgehog 100] 09/6/2016 16:52

From the 3 June 2016 "Investors Chronicle", by Simon Thompson:

" ... Aim-traded shell Eco City Vehicles (ECV:2.88p) ... are currently suspended at 2.88p pending an acquisition. ... "


Actually ECV has been suspended (at 2.875p) for FAILING to make an acquisition:

16/05/2016 07:00 UKREG Eco City Vehicles PLC Annual Financial Report

" ... Since no acquisition or acquisitions constituting a reverse takeover under the AIM Rules had been concluded within 12 months of it becoming an Investing Company, neither had the Company otherwise implemented its Investing Policy to the satisfaction of AIM, the Company's ordinary shares of 1 pence each (the "Ordinary Shares") were suspended from trading on AIM on 21 January 2016.

If the Company's Investing Policy has not been implemented within 6 months of the suspension date, admission of the Ordinary Shares to trading on AIM will be cancelled. Based on progress to date the directors of ECV remain con dent in the Company's ability to complete a transaction by 20 July 2016. ..."




ECV has under six weeks to complete an acquisition or it will be delisted.
So far it hasn't published an admission document, though there is still time.

[hedgehog 100] 06/6/2016 14:46

Thanks RJ.

JB & NL,

I agree that CCEP looks a little too good to be true, but then again so did TJI.

However, with CCEP the huge spread and great illiquidity are additional risks.

And even if it's genuinely very undervalued, and proper, it could still potentially stagnate at its current level for years.

So it's probably best avoided unless there's some indication that something is going to change.

[nextlink] 06/6/2016 11:04

jimbob17 gives good advice
I've been fleeced by a Chinese Company which still exists
having stolen all it's UK investors money.
Avoiding all Chinese Companies is wise.

[jimbob17] 06/6/2016 10:37

I suggest great care is taken with CCEP.
I hold shares in Oriental City which again looked very cheap,also from the alfred henry stable.It raised funds then delisted and despite chasing there has been no news since.
For me a Chinese Company on ISDX is a no-no.

[rjmahan] 03/6/2016 20:25

I can trade TJI online ((I think) - call HL and ask them)- but as ever with small caps liquidity can be an issue.

Usually I ask HL to refund extra if they force me to trade over the phone...

Thought I should point out I am a buy and sit investor - I dont trade much...

[hedgehog 100] 02/6/2016 18:30

ISDX-listed CCEP's final results were announced yesterday.

0.25p, market cap. £300K.

As at 31.12.15:
Cash & cash equivalents £1.574M.
Total current assets £7.389M.
Total assets £46.088M.
Liabilities?

DJ China CDM Exchange Centre Ltd Annual Financial Report
01 June | 2016 07:00

"China CDM Exchange Centre Limited

Final results for the year ended 31 December 2015

The Company operates within the framework of the Clean Development Mechanism
("CDM") of the Kyoto Protocol, established under the auspices of the United
Nations Framework Convention on Climate Change. The Protocol commits countries
to reducing their emissions of Green House Gasses ("GHGs") by pre-determined
amounts or compensates for maintained or higher GHGs emissions via emissions
trading.

Based upon the on-going CDM contracts and the new attempt in the China
Certified Emission Reduction ("CCER") Market in 2015, the Company gained the
revenue of GBP ?1,004,199.04 in 2015.

There was a significant progress in the Europe CER Market in 2015 and the CER
Price has an increase comparing with that in 2014. At the same time, to go with
the strategy in CCER Market, the Company still dedicated itself to work at the
relevant methodology and develop the new CCER projects.

I would like to extend my sincere thanks to the management and staff of the
Company for performing the tasks with zeal, vision and dedication and as well
as to our partners for their effective and efficient cooperation.

Outlook for 2016

In 2016, the company will develop the business focusing on the following areas:

1. To maintain the current advantages in the global carbon market;
2. To extend the new business in the China Energy Markets;
3. To strengthen management regulation, improve company's management level and
enroll high-quality talents.

.................................

Mr. Kang Zheng

Chairman

Enquiries:

China CDM Exchange Centre Limited +86 010
[e-mail] 87246056end_of_the_skype_highlighting

ISDX Advisor: 020 7251 3762
Alfred Henry Corporate Finance Ltd
www.alfredhenry.com
Jon Isaacs/Nick Michaels "

[hedgehog 100] 01/6/2016 17:56

Thanks RJ.

Are you able to trade TJI online with Hargreaves Lansdown, or only by phone?

[rjmahan] 28/5/2016 23:23

I use IG and HL - best keep sizes low to get a fill - you can often get in via multiple transactions. luck of the draw really....

There was plenty on sale down at 3p, not so much now!

Sorry I cant be more help.

[hedgehog 100] 28/5/2016 19:08

Well done and thanks RJ for flagging up TJI on this thread last summer at barely a tenth of its current price: rjmahan 24 Jul'15 - 21:36 - 649 of 813 0 0

Dealing in it can be difficult though: perhaps you could please tell us is there any particular broker or brokers you would recommend for this?

Cheers!

[rjmahan] 27/5/2016 23:38

TJI still trading below net cash - upside there - deffinitely not an RTO now though!

check out deepvalueinvestments.wordpress.com for my full thoughts...

[hedgehog 100] 25/5/2016 20:13

European Lithium was initially intending to IPO on AIM to raise £5M., but is instead RTOing an Australian-listed company, Paynes Find Gold (PNE):

"Paynes Find Gold Ltd acquires advanced major lithium project in Austria

Thursday, May 12, 2016 by Proactive Investors

Paynes Find Gold Ltd (ASX:PNE) is seeking to become a lithium miner through the reverse takeover and backdoor listing of European Lithium Limited, the sole owner of the well advanced Wolfsberg Lithium Project in Austria.

Tony Sage will become a director of the company, as Cape Lambert Resources Ltd (ASX:CFE) owns 26.2% of the pre-raising capital in Euro Lithium.

The current vendors have already spent €11.53 million on the acquisition and exploration of the Wolfsberg project, which has an inferred resource of 3.7 million tonnes at 1.5% Li2O (55,500 tonnes contained lithium).

Drilling is set to commence fast to upgrade the resource.

A bulk sample of 1,000 tonnes will be collected for metallurgical test work. A Bankable feasibility study is slated to commence immediately after completion.

While production could occur as soon as 15-20 months from acquisition. This should be enough for the stock to soar upon relisting.

Under the terms of the deal, Paynes Find will acquire the European Lithium subsidiary owning the project, in exchange for $750,000 in cash and 187.5 million in shares worth $15.6 million valued at Paynes Find’s last traded price.

Paynes Find will also issue 62.5 million shares subject to the completion of certain milestones, and will pay a further $1.5 million once the transaction has been completed.

As the proposed acquisition will result in a change in the nature and scale of the business, Paynes Find will be required to complete a minimum $6 million capital raising in order to comply with ASX relisting rules.

The current owners had completed 17,000 metres of drilling and 1,400 metres of declines, drives and crosscuts at the Wolfsberg project, which will allow the company to examine routes to fast track the development phase.

Additional drilling at the project will commence before completing the transaction with a view to define an upgraded resource estimate.

The central European location of the project will allow the company to help meet the high demand for lithium in the EU, which consumes 24% of the global market, second only to China.

Interestingly, the project is situated just 40 kilometres from the Samsung battery plant in Graz, Austria."

[...]


PNE is currently suspended at 8.3c., but it could be an interesting punt on lithium (an important component for electric car batteries) when it resumes trading.

Can anyone recommend a good stockbroker for trading in ASX-listed shares please!

[solarno lopez] 23/5/2016 07:25

so cash shells will effectively go to Standard Listing or ISDX

[hedgehog 100] 22/5/2016 15:41

I've just become aware of a tightening of the rules for new cash shells / investing companies on AIM, which came into effect from the start of this year.
The changes mean that new shells on AIM will only have SIX MONTHS to complete a RTO before they are suspended, rather than one year as previously, unless they can meet a £6M. cash requirement to qualify as an investing company.

As the maximum AIM suspension period is six months, this in effect gives them a year to RTO before they are delisted, rather than a year and a half as previously.

It wasn't uncommon for even a year and a half to be insufficient for some companies, resulting in their being delisted, so this big reduction in the time period is likely to increase the chances of this.


"Changes to the AIM Rules for Companies

27 January 2016

Having come into effect on 1 January 2016, changes to the AIM Rules will predominantly affect investing companies and cash shells.

The London Stock Exchange (“LSE”) confirmed on 22 December 2015, following a consultation conducted in October 2015 that changes to the AIM Rules for Companies would become effective on 1 January 2016.

As of 1 January 2016, Investing companies listed on AIM will be required to meet higher fundraising thresholds for admissions to listing (the LSE now considers it appropriate to raise the threshold given the original threshold was set in 2005) in addition to the shortening of the time period during which an AIM listed company must undertake a reverse takeover following a fundamental disposal. The changes to the AIM Rules seek to ensure that AIM companies continue to enjoy investment from professional, institutional investors whilst still being subject to appropriate levels of scrutiny as well as companies being able to only access the benefits of an AIM listing if they have sufficient cash balances to make meaningful investments.

The changes to the AIM Rules are as follows:

AIM Rule 8 – Investing companies

Following the changes, investing companies must now raise a minimum of £6 million in cash on admission to AIM, up from £3 million prior to the changes to the AIM Rules.

AIM Rule 15 – Fundamental change of business

Changes have also been implemented in relation to the classification of AIM companies that have made fundamental disposals of their trading business or assets.

Previously under the old rules, a company that disposed of substantially all of its trading business, assets or activities was treated as an “investing company” and had 12 months following such a disposal to (1) demonstrate that it was implementing an investment policy or (2) make an acquisition or acquisitions constituting a reverse takeover.

Under the new rules, however, such companies will no longer be automatically classified as investing companies but will instead be classed as “AIM Rule 15 cash shells”. These companies will have a reduced period of six months undertake an acquisition(s) which constitute a reverse takeover (as prescribed by AIM Rule 14). Becoming an investing company will, for the purposes of AIM Rule 15, be treated as a reverse takeover and will be subject to the requirements of Rule 8, including the higher fundraising threshold as well as the requirement to publish an admission document in accordance with AIM Rule 14.

The AIM Note for Investing Companies has been updated to reflect that the proceeds of the disposal of an AIM company’s business, assets or activities will count towards the minimum fundraising threshold for investing companies (i.e. £6 million) if the AIM company wishes to become an investing company.

If an AIM Rule 15 cash shell has not completed its reverse takeover transaction within the prescribed six month period, the shares of that company will be suspended. Where a company has no intention to undertake the required acquisition it will be expected to seek to cancel its listing (by seeking shareholder approval to do so at the same time as it seeks consent for the fundamental disposal). The company should also consider whether funds should be concurrently returned to shareholders.

AIM companies which became investing companies prior to 1 January 2016 will be subject to the old rules, which specify a twelve month deadline for undertaking a reverse takeover or evidencing the implementation of an investment policy.

Nominated Advisers should note that the Guidance to the AIM Rules has been updated and now specifically requires AIM to be consulted as soon as possible when an AIM company has become an AIM Rule 15 cash shell or whether there is “any possibility” of such occurrence.

AIM Rule 36 – Settlement

Published changes to AIM Rule 36 also removes the ability for the LSE to agree (in certain circumstances) to the deviation from the requirement for AIM securities to be eligible for electronic settlement.

Practical Impact
The changes to the AIM Rules show the clear intent by the LSE that they are seeking to limit the number of cash shells which remain on AIM for extended periods. The changes will no doubt render it more challenging for investing companies to obtain admission to AIM in the first place and it will also put pressure onto the boards of those cash shells and investing companies that want to remain on AIM following a disposal.

As mentioned above, the changes to the AIM Rules also suggest that the LSE is keen for investing companies to have institutional support through market professionals and investors rather than retail investment and volatility in investing companies.
For further information, contact Cindy Wang at Kerman & Co. LLP, (London) Tel: [phone].

The contents of this article are intended for general information purposes only and neither constitutes investment nor legal advice."

[hedgehog 100] 16/5/2016 16:46

AVP is now EVRH, following its RTO of MelodyVR Ltd, and has consolidated its shares 100 into one:

27/04/2016 07:01 UKREG Armstrong Ventures PLC Acquisition & Notice of General Meeting
"… Armstrong Ventures plc (AIM:AVP), the AIM listed company investing in the media, technology and healthcare sectors, announces today that it has conditionally agreed to acquire MelodyVR Ltd, a company which has developed technologies, products and services that enable users to consume immersive virtual reality ("VR") music experiences, for a total consideration of GBP5.12 million to be satisfied by the issue of New Ordinary Shares at 1.1p each. The Acquisition, if completed, will constitute a reverse takeover under the AIM Rules and as such is subject to the approval of Shareholders at the General Meeting of the Company to be held on 13 May 2016, notice of which is set out at the end of the Admission Document, which will be posted to Shareholders today and is available on the Company's website: www.armstrongventures.com. …"


13/05/2016 11:36 UKREG Armstrong Ventures PLC RESULT OF GENERAL MEETING
"… Armstrong Ventures plc (AIM:AVP), the AIM listed company investing in the media, technology and healthcare sectors, announces that, at the General Meeting of the Company held earlier today, all resolutions were duly passed.
The change of the Company's name to EVR Holdings plc (AIM: EVRH), will become effective upon the registration of the Company's change of name at Companies House. …"



Unusually, AVP's shares were not suspended for the RTO, because the admission document was published at the same time as the initial RTO announcement.

[hedgehog 100] 09/5/2016 18:08

And on the same day that NEW has entered suspension for an intended RTO, main-listed shell Opera Investments (OPRA) has terminated one and resumed trading ... and topped the LSE biggest fallers list by closing down over a quarter at 7.25p:

LSE % Losers Top Lists
EPIC Name %
OPRA Opera Inv -27%

09/05/2016 07:00 UKREG Opera Investments plc Statement re Termination of Potential Acquisition
"Termination of Heads of Terms Agreement regarding potential acquisition (the "Acquisition") of SoloPower Systems Holdings, Inc. ("SoloPower")
Lifting of Suspension of Trading
The Company would like to provide the following update to its shareholders.
Termination of Heads of Terms Agreement
Since July 2015, the Directors of Opera ("the Directors") have worked continuously to complete the Acquisition of SoloPower for the benefit of Opera's shareholders as quickly as possible. SoloPower is a portfolio company of Hudson Clean Energy Partners ("Hudson").
On 18 March 2016, the Directors announced that they had amended the Heads of Terms Agreement with Hudson to allow Hudson the ability to complete a financing of SoloPower without an exclusive requirement to effect the Acquisition at the same time. In addition, the Directors agreed that during the period until 15 May 2016 if a London Listing of SoloPower was required by Hudson, that such a Listing will take place on an exclusive basis with Opera on the original agreed terms.
On 3 May 2016, the Company received notification from Hudson that SoloPower is seeking to fund itself without the requirement for a public offering and London Listing at this time. The Directors therefore announce that the Acquisition will not now proceed and announce that the Heads of Terms Agreement with Hudson has been terminated.
The Directors are sincerely disappointed, especially after the time and effort expended, that the transaction will not proceed. The Directors maintain that it would have been very much in the best interests of Opera's shareholders and have worked as hard as possible to complete the transaction.
Lifting of Suspension of Trading
Due to the size and nature of the Acquisition, it was treated as a reverse takeover for the purposes of the UK Listing Authority's Listing Rules and was to be subject to approval by the Company's shareholders and an associated waiver of rule 9 of the UK Takeover Code required in connection with the issue of the Opera Shares to Hudson. As a consequence, the Company requested a suspension of trading in its ordinary shares until the details of the Acquisition are finalised and the required information is published or the Acquisition is terminated.
As the Acquisition is terminated, the Company has requested that the suspension of the trading of ordinary shares be lifted. It is expected that trading of the Company's ordinary shares will be resumed at 8am on 9 May 2016.
Next Steps
The Directors are determined to continue to pursue and execute the Company's stated investment plan and strategy that was set out at the time of the Company's flotation in April 2015.
For the period since 20 July 2015, Opera has been in a period of exclusivity, meaning that the Company has not been able to engage with alternate acquisition proposals. The Directors will proceed immediately to seek an attractive acquisition opportunity, with the objective of maximising value for Opera shareholders. There are many attractions to Opera for companies or businesses seeking a listing on the London Stock Exchange and given the Company's existing cash resources, the Directors intend to seek to maximise the value of the Company to the benefit of its shareholders in an appropriate acquisition.
The Directors believe that Opera remains well placed in order to create value for the Company.
Paul Dudley commented, "We are very disappointed not to have completed the transaction with Hudson and SoloPower as the opportunity was compelling. That said, market conditions conspired against us for this particular transaction and we respect Hudson's decision to obtain funding through an alternative means to the UK Capital Markets. It is important to highlight that Opera recouped a large tranche of the monies spent on this prolonged Due Diligence process to ensure we retained value on behalf of our shareholders. Furthermore, we are now in a positon to engage with a number of interested parties who had previously expressed an interest in Opera Investments and recognise the value of our Company in terms of cash resources, but also as a Main Market listed special purpose vehicle."
Annual report and accounts
The Company announces that in accordance with LR 14.3.6, a copy of the Annual Report and Accounts for the year ended 31 December 2015 has been forwarded to the FCA for publication through the Document Viewing Facility and accordingly, will be accessible via the National Storage Mechanism website at hxxp://www.morningstar.co.uk/uk/NSM. The Annual Report and Accounts are also available on the Company's website at hxxp://www.operainvestmentsplc.com/company-documents/. "

[hedgehog 100] 09/5/2016 17:36

NEW suspended today at 0.06p for an intended RTO, and it looks like it could be quite a good one:

09/05/2016 09:40 UKREG New World Oil & Gas Possible acquisition and suspension of trading
"Possible acquisition of Big Sofa Limited
Suspension of trading
Since the 2015 AGM, the Board of New World Oil and Gas plc has been reviewing the Company's strategy, which has included looking at a number of possible acquisition opportunities. Against this background, the Company is now pleased to announce that it has signed a non-binding letter of intent ("LOI") to acquire the entire issued share capital of Big Sofa Limited ("Big Sofa") for new shares in New World (the "Acquisition"). The Acquisition, if completed, would result in New World shareholders having around 45 per cent. of the enlarged group (the "Group") prior to the impact of any associated fund raising.
Big Sofa, originally founded as a marketing consultancy in 2008 and based in Central London, is a technology services company operating in the area of data and, more specifically video and image analytics, part of the global multi-billion GBP consumer intelligence market. Big Sofa, through the development of its own technology, is involved in the use of visual data to provide consumer and customer insights in an organised and coherent way. By managing and analysing visual data on this scale, Big Sofa can enable its clients to get closer to how consumers interact and provide them with a competitive edge in developing new products or innovative services.
To date, Big Sofa has won a number of substantial contracts with multi-national consumer brand companies on a global basis as well as being well advanced in discussions with other companies and agencies. This progress underlines Big Sofa's credentials in the sector and the company is now positioned to achieve significant growth. The proposed transaction with New World will provide it with a cash injection and access to capital markets in order to deliver this sizeable growth opportunity.
The Acquisition is subject, inter alia, to the completion of due diligence, documentation and compliance with all regulatory requirements, including the AIM Rules and, as required, the Takeover Code.
As a precursor to the Acquisition, the Company has also agreed to provide Big Sofa with a short-term loan of up to GBP500,000 for working capital purposes. This loan will be drawn down in two tranches, with GBP250,000 being drawn immediately. The loan will pay a coupon of 6 per cent., is secured by way of debenture and is fully repayable on 19 October 2016 in the event that the Acquisition does not proceed. It is also envisaged that the Group will seek to raise additional funds from both existing shareholders and new investors to finance the development of the Group going forward.
For the time being, the Company will continue to retain its Belize Licences. However, if the Acquisition completes, the Board will consider withdrawing from its oil and gas activities.
As the Acquisition would amount to a Reverse Takeover under the AIM Rules, the Directors have requested that trading in the Company's shares be suspended with immediate effect pending the publication of the required AIM Admission Document or confirmation that the Acquisition is not proceeding.
The Company intends to hold an Extraordinary General Meeting ("EGM") in June in order to seek shareholder approval for the Company to consider opportunities outside of the oil and gas sector and for release of the second tranche of the loan to Big Sofa. The appropriate notice to convene this meeting will be posted shortly. It should also be noted that if the Acquisition proceeds, specific shareholder consent will also be required at a subsequent meeting in accordance with AIM Rule 14 and associated matters including any applicable requirements of the Takeover Code."


09/05/2016 09:40 UKREG AIM Suspension - New World Oil & Gas Plc
TEMPORARY SUSPENSION OF TRADING ON AIM
NEW WORLD OIL AND GAS PLC
"At the request of the Company trading on AIM for the under-mentioned securities has been temporarily suspended from 09/05/2016 9:40am, pending an announcement and publication of an admission document.
ORDINARY SHARES OF NO PAR VALUE FULLY PAID (B65FK23) (JE00B65FK239)
If you have any queries relating to the above, please contact the Company's nominated adviser on 020 7628 3396.
This information is provided by RNS
The company news service from the London Stock Exchange"

[smudgedan] 07/5/2016 22:32

Thanks HH, it just shows how much some of these tiddlers can move when they get a bit of decent news and more people hear about them. I really try to focus on the sub £2m or £3m mc's where possible and whilst there is a lot of dross there are a few diamonds in the rough. Just a case of building a position and waiting for something to happen. GL

[hedgehog 100] 07/5/2016 18:55

Thanks Smudgean,

FBDU has certainly been flying recently (currently 3.25p):




And congratulations on your recent success on Tejoori (TJI), currently 27.5 cents:



TJI was flagged up on this thread last summer at barely a tenth of its current price:

rjmahan 24 Jul'15 - 21:36 - 649 of 813 0 0
"Not sure if this counts but has anyone considered Tejoori as a possible reverse takeover candidate - 600k mcap but profitable and asset backing...
Would love to know what people think -very new to this area...
I have posted about this on my blog www.deepvalueinvestments.wordpress.com "

[smudgedan] 06/5/2016 20:49

HH,evening, I think that a very interesting story is unfolding at FBDU. There was mention of a possible deal in the near future in the recent results and now they are looking to do a share buyback, despite there only being 30m shares in issue currently.

Trevor Brown who was instrumental in AVO acquiring the cern technology and and also with FDBK which bottom top increased 16 fold and 4 fold respectively following the deals is holding most of the warrants so i see the share buyback as away of him increasing his hold on the company. I think they will go in to environmentally friendly courier technology using the new NED's contacts and business's along with the consultant they have employed.

Have been increasing my position over the past few months.