Rentokil Initial Share Discussion Threads

[sweet karolina2] 11/11/2022 10:26

Hedgehog,

The ones you like seem to be clean shells listed on main market standard list. These are very different beasts to the AIM rule 15 dirty shells which I follow because I don't like any of them. I can't find a single example of an AIM rule 15 dirty cash shell that became AIM rule 15 after March 2020 making it back to trading before it was delisted from AIM. MTFB got the closest, but shareholders rejected the deal at the GM. MTFB looks like becoming the first of those failures to get struck off by Companies House:



I expect PPG will follow a similar path in the new year:



I am also following what is going on at UK SPAC.



This was an AIM rule 15 shell which lost its listing, but is trying to relist on Standard list and RTO a Greek cannabis company. It would seem that UKLA has been trying to clean up what it allows onto standard list. SPACs that got their standard listing before the minimum MCap requirements changed to £30m have until Jun 23 before those rules apply. Are you noticing any other effects that would be consistent with UKLA being much more choosy about what they allow to get a standard listing either by IPO or RTO into a SPAC?

There does also seem to be a bit of a trend of companies starting down the RTO route then pulling the plug and IPOing instead. CCAP is an example. Are you noticing this too?

[melegramforttongo] 12/10/2022 19:22

If you are long on RTO please let me know and we can start processing you .
Once processed we will thank you for giving us the money you used to have .

[melegramforttongo] 12/10/2022 16:11

Looking forward to feasting on a few longs in here .

[sphere25] 11/10/2022 16:35

FTSE indices re-jig aside, there is some big dumping going on here of late.

Highly unusual activity,

It has been a while since there has been so much shorting activity in the market overall. Clearly the market has had the bulk of the beat down (still can't see a bottom), but it wouldn't surprise if the shorts managed to cash in on recent activity too. The way things are out there and how the profit warnings have been coming in are definitely suggesting tough times continuing in the near term.

But look at the shorting activity here:



I mean, they are absolutely FALLING ALL OVER EACH OTHER to short RTO. This is highly irregular activity. ShadowFall report clearly having an effect but I'll keep an eye on this one from the sidelines to see what happens.

The way they are shorting this suggests people are in the know and something bad is about to happen.

All imo
DYOR

[hedgehog 100] 25/9/2022 14:11

Sweet Karolina,

First of all, sorry about the delay in replying!

I've no problem with this thread being a bit of a blog, and I know for a fact that other people read it, even if they're not posting.

The value and quality of different shells varies enormously, which is why it pays to be very selective.

If people make the effort to educate themselves about shells, then they should be able to distinguish between the good, the bad, & the ugly.

I prefer to concentrate my posting on those that I really like, which are a small minority, and not to say too much about the rest.


And 'one of the few' is TMOR, which I tipped in post 985 above on 25th. May, at 0.975p.

TMOR announced great RTO news on Friday, and if it hadn't been suspended pre-opening, it would probably be top riser for the weekend: a proposed RTO at a share price of 2.25p, well over double the current share price of 0.95p:-


23/09/2022 07:45 UK Regulatory (RNS & others) More Acquisitions PLC Acquisition - Megasteel and Suspension of Trading LSE:TMOR More Acquisitions Plc

"Proposed Acquisition of Megasteel Limited and Suspension of Trading ...

-- Proposed Acquisition values the current issued share capital of More at GBP2.81 million (vs GBP1.19 million at closing on 22 September 2022) or over 2.3 times the Company's current net cash

Background

Megasteel (www.megasteel.co.uk ), has traded for more than 30 years in the United Kingdom, and is one of the largest stockholders and distributors of high-quality steel for the prestressing and post-tensioning of concretes in the UK. Prestressed concrete is a critical building product used in the UK construction market, from house floors to bridge beams and from railway sleepers to high rise buildings in the City of London. In its financial year ended 31 October 2021, Megasteel made audited pre-tax profits of GBP3m on turnover of GBP19.7m. ...

Nigel Roberts, CEO of Megasteel Ltd added:

"We have built Megasteel over the last 30 years to be one of the biggest suppliers in the UK of prestressing wire and strand, a product used in almost every construction project in the country, and we have been considering a listing of the business for many years. We are pleased to be working with More Acquisitions as the vehicle that will enable us to do this.

Over many years we have been able to grow our sales, generate revenues, make profits and turn those profits into cash which we have reinvested into the business to keep the cycle going. Applied over a long period of time these business methods have produced a profitable business that I am proud to have started. ...

We were attracted to More Acquisitions as our vehicle to list because we liked the simplicity and cost-effective way in which it had been set up with its 'one price for all', no advisory or broking fees, capped listing and on-going costs and no director salaries, the Company and its key stakeholders fitted very well with our views on how a business should be run!"

[finkwot] 04/9/2022 04:19

he's not talking to himself

[sweet karolina2] 09/8/2022 08:22

Hedgehog you seem to be talking to yourself here.

Do you have any thoughts on ADV, mine are here:



I mostly talk to myself there so come and join in.

[hedgehog 100] 26/7/2022 10:31

26/07/2022 07:00 UK Regulatory (RNS & others) TMT Acquisition PLC Final Results LSE:TMTA Tmt Acquisition Plc

"Results for the period 25 March 2021 to 31 March 2022

TMT Acquisition, (LSE: TMTA), the investment business established to pursue opportunities in the technology, media and telecom sector, today announces its results for the period from 25 March 2021 to 31 March 2022.

Financial Highlights

-- Net cash as at 31 March 2022 of GBP4,804,060
-- Net assets as at 31 March 2022 of GBP4,777,275
-- Operating loss and loss before tax of GBP0.1 million
-- Basic and diluted loss per share of GBP0.01

Other Highlights

-- Admitted to listing on the Standard Segment of the Official List on 11 October 2021
-- Raised gross proceeds of GBP5 million as part of Admission to the Standard List by placing 25,000,000 ordinary shares at 20p per share

Harry Hyman, Chairman of TMT Acquisition, commented:

"During the year, we successfully completed our Admission to listing on the Standard List; raising GBP5 million, to pursue our acquisition strategy.

"Whilst we have maintained our commitment to prudent cost control, we have been actively searching for acquisition targets and continue to assess a number of potential opportunities. We are targeting businesses within the TMT sector focusing on both disruptive digitally enabled media and technology businesses. The recent resets of pricing in technology stocks in our view works to the company's advantage

"On behalf of the Board, I would like to thank all our shareholders for their continued support, and we look forward to updating the market on our progress." ..."

[hedgehog 100] 23/7/2022 12:14

It's interesting to compare ROC's value with that of another shell - one that floated recently - which has a similar amount of cash to ROC: GSC (GS Chain).

GSC floated at 1p, but has risen to its current share price of 6.6255p, despite not even announcing any news, giving it a market capitalisation of £26.5M.

Which is over 46 times more than ROC's current market cap.: £572,625, at 4.5p.


13/05/2022 08:00 UK Regulatory (RNS & others) GS Chain PLC Admission to trading and first day of dealings LSE:GSC Gs Chain Plc

"GS Chain is pleased to announce that admission of its shares to trading on the London Stock Exchange's main market ("LSE") will take place and dealings will commence at 8.00 a.m. today, under the ticker GSC and ISIN number 984500K398M8C508B642.

The Company is direct listing 399,985,888 Ordinary Shares on the Official List. Market capitalisation at 1p is GBP3,999,858.88.

About GS Chain

GS Chain intends to identify opportunities within the technology sector, to conduct the necessary due diligence and subsequently complete an Acquisition. While the Directors will consider a broad range of technology sectors, those which the Directors believe will provide the greatest opportunity and which the Directors will initially focus on include the use of technologies in real estate, banking, finance, fintech, telecommunications, automotive and blockchain industries. The Directors may consider other sectors if they believe such sectors present a suitable opportunity for the Company.

The Company's objective is to generate attractive long term returns for Shareholders and to enhance value by supporting sustainable growth, Acquisitions and performance improvements within the acquired companies. The Directors will also use their knowledge and experience across a wide range of industry sectors in acquiring, investing and integrating businesses, which allows them to assess the viability of acquisition opportunities and their management teams, which is fundamental to finding the right Acquisition.

The Company's admission document is available to view on its website hxxps://gschain.world/"




GS Chain (GSC):

[hedgehog 100] 22/7/2022 17:34

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. ..."

[hedgehog 100] 18/7/2022 13:53

This deep value shell has ROCkingly good gains potential.

Rockpool Acquisitions (ROC) 4p Market cap. £509K.





21/01/2022 07:00 UK Regulatory (RNS & others) Rockpool Acquisitions PLC Termination of proposed acquisition of Greenview LSE:ROC Rockpool Acquisitions Plc

" ... The Board has already identified and is considering potential alternative acquisition targets, and preliminary discussions have been held regarding the terms of a potential deal with the management of one of those. However, the Board recognises the level of frustration that some of the Company's shareholders will likely be feeling at the length of time that the Company has been suspended and wants to ensure, not just that it can complete an alternative transaction quickly, but that the transaction the Company pursues offers the best possible returns to its shareholders. The Board is therefore open to considering alternative transactions with suitable targets, including those that may not have a direct connection with Northern Ireland.

Targets would be considered that are active in any sector of the economy and, whilst the Board would ideally like to acquire a business that is already profitable at an EBITDA level, it is willing to look at companies that are on the cusp of reaching profitability, have the potential for rapid growth, and could benefit from the access to capital markets that a transaction with Rockpool would afford them. The Board would therefore welcome approaches from target companies that meet these criteria. ..."




26/01/2022 07:00 UK Regulatory (RNS & others) Rockpool Acquisitions PLC Half-year Report to 30th September 2021 LSE:ROC Rockpool Acquisitions Plc

" ... This means that, should the proposed Refinancing Transaction successfully complete on the timeline anticipated, and should Greenview Gas agree to the termination of the acquisition by Rockpool on the terms indicated, the Company would be able, by March of this year, to pursue an alternative acquisition with around GBP950,000 of cash at its disposal (having settled its outstanding obligations).

... In the half year to 30 September 2021 the Company made a loss of GBP13,004 (loss in the six months ended 30 September 2019 : GBP5,887). The loss is attributable mainly to the administrative expenses of the Company, together with interest payable on a loan and the costs associated with maintaining its Standard Listing on the London Stock Exchange, exceeded interest accruing during that period on the loan made to Greenview Gas. ..."

[hedgehog 100] 14/6/2022 17:06

U OGle this good-looking mini P/E, which must be one of the most attractive ratings you are likely to see.

United Oil & Gas (UOG) 1.95p Market cap. £12.6M.


2021 Financial summary
-- Group Revenue of $19.2m (2020: $9.1m)
-- Gross Profit of $12.2m (2020: $2.5m)
-- Profit after Tax $4.1m (2020: $0.9m)



31/07/2017 07:00 UK Regulatory (RNS & others) United Oil & Gas PLC Readmission to Trading LSE:UOG United Oil & Gas Plc

"The Board of the Company is pleased to announce that following Acquisition of the UOG Group and the Placing raising GBP3 million before expenses, the Company's Enlarged Share Capital is today admitted to the Official List (Standard Segment) and to trading on the London Stock Exchange's Main Market for listed securities.

Brian Larkin, the Company's CEO, commented: "We are delighted to list United Oil & Gas Plc on the London Stock Exchange along with completing a fully subscribed share placing of GBP3million. Our work programs are wholly funded and we look forward to drilling our first well in the Selva field in the Po Valley in Italy, in October. In addition, we continue to evaluate further potential acquisitions and farm-in opportunities".

Information on the Enlarged Group

The UOG Group, established in 2015, has a strategy to acquire non-core oil and gas licences from larger oil and gas companies, with the goal of being an active partner to unlock previously untapped value and thus generating value for Shareholders. ..."

[hedgehog 100] 09/6/2022 13:39

CRES was suspended for a RTO this morning, at 3p, with an implied RTO price of 4.625p.

And like NZI's, it looks like a good one: a potentially large and high-grade gold project, with significant exploration work already conducted:-

09/06/2022 07:40 UK Regulatory (RNS & others) Citius Resources PLC Statement re. Suspension LSE:CRES Citius Resources Plc

"Proposed Transaction and Suspension of Listing

Citius Resources plc (the "Company" or "Citius"), an investment company listed on the London Stock Exchange, is pleased to announce that it has entered into a binding Heads of Terms with regard to the possible acquisition of 100% of the share capital of AUC Mining (U) Limited ("AUC') to be satisfied by the issue of New Ordinary Shares of the Company ('the Proposed Transaction').

AUC holds the Kamalenge Gold Project in the Mubende Gold District, Uganda. The Project has the potential to be a large and high-grade gold project based on preliminary due diligence of the exploration work completed by the Company and its consultants. AUC have completed extensive work and expenditures on the Project over recent years yielding substantial drilling and exploration data for the Company to advance.

Citius has agreed, subject to further due diligence, to acquire the entire share capital of AUC for total consideration of GBP2,000,000 (two million pounds), to be satisfied in full by the issue of 43,243,333,242 new shares of the Company at an implied price of GBP0.04625 per share ("Acquisition"). ..."

[hedgehog 100] 07/6/2022 16:54

ARA has an aura of a future multibagger about it.

Aura Renewable Acquisitions (ARA) 9.75p Market cap. £1.024M.





08/04/2022 08:00 UK Regulatory (RNS & others) Aura Renewable Acquisitions PLC Initial admission - Offcl Lst LSE:ARA Aura Renewable Acquisitions Plc

"Admission to listing on the Official List and to trading on the London Stock Exchange

Aura (LSE: ARA) is pleased to announce that its entire issued ordinary share capital of 10,500,000 ordinary shares of GBP0.01 each ("Ordinary Shares") has today been admitted to listing on the standard segment of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of London Stock Exchange plc under the TIDM "ARA" ("Admission").

The Company will pursue opportunities to acquire businesses in the renewable energy sector. The Company intends to consider opportunities within the renewable energy sector focusing on businesses operating in the global renewable energy sector supply chain, particularly participants in the wind, solar, biomass, hydropower and green hydrogen supply chain ranging from raw materials resourcing to power generation, energy storage and recycling.

Prior to Admission, the Company had in issue 500,000 Ordinary Shares and at Admission issued a further 10,000,000 new Ordinary Shares at an issue price of 10 pence per Ordinary Share, by way of a placing of 9,000,000 Ordinary Shares and subscription of 1,000,000 Ordinary Shares, raising gross proceeds of GBP1,000,000. ..."

[hedgehog 100] 25/5/2022 19:15

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.

[hedgehog 100] 10/5/2022 14:51

Poor stock market conditions tend to make it harder to IPO, increasing the attractions of the RTO route, and increasing the bargaining power of shells like NZI.

And meanwhile, the valuations of RTO targets for shells tend to be depressed.

So ironically, the s.p.s of shells like NZI can become depressed at the same time as they are in effect becoming more valuable: more capable of cutting a cracking RTO deal on great terms - i.e. a better shell valuation and lower target valuation, and great quality targets.

NZI should be making great progress towards a potential RTO, and should be updating us very soon.

[xxxxxy] 18/2/2022 10:13

Interested at 350

[hedgehog 100] 15/1/2022 11:48

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. ..."