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ROC Rockpool Acquisitions Plc

2.25
0.00 (0.00%)
Last Updated: 08:00:00
Delayed by 15 minutes
Rockpool Acquisitions Investors - ROC

Rockpool Acquisitions Investors - ROC

Share Name Share Symbol Market Stock Type
Rockpool Acquisitions Plc ROC London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 2.25 08:00:00
Open Price Low Price High Price Close Price Previous Close
2.25 2.25 2.25 2.25
more quote information »
Industry Sector
GENERAL FINANCIAL

Top Investor Posts

Top Posts
Posted at 29/12/2023 09:12 by hedgehog 100
29/12/2023 09:00 UK Regulatory (RNS & others) Rockpool Acquisitions PLC Interim Report for period to 30th September 2023 LSE:ROC Rockpool Acquisitions Plc

"Interim Report for the period ended 30 September 2023

Rockpool Acquisitions Plc (AIM: ROC), the S pecial Purpose Acquisition Company ("SPAC") formed to undertake the acquisition of a company or business headquartered or materially based in Northern Ireland, announces its unaudited Interim Results for the six months ended 30 September 2023.

Overview

-- The Company's shares remained suspended following the announcement on 15 November 2022 of the signing by the Company of heads of terms to acquire the Amcomri Group Limited ("the Amcomri Group" or "Amcomri"), which is the holding company of a fast-growing, acquisitive group of companies in the engineering and manufacturing sectors.

-- The Board had been hopeful that readmission would take place during the period under review, but the target group has made a number of acquisitions and they, combined with the time taken to undertake audits of the target group, caused delays to the production of the readmission prospectus and made that target unattainable. Readmission is now likely to be in the second half of 2024, but that is subject to reaching agreement on revised terms with the sellers of the Amcomri Group Limited.

-- Reported loss of GBP( 347,999 ) for the six-month period arising from the costs of the Amcomri acquisition and preparing for the resulting readmission, and from administrative expenses and loan interest payable.

Chairman's Statement

Throughout the period under review, the Company's shares remained suspended following the announcement on 15 November 2022 of the signing by the Company of heads of terms to acquire the Amcomri Group Limited, which is the holding company of a fast-growing, acquisitive group of companies in the engineering and manufacturing sectors. The board had been initially hopefully that the acquisition and the readmission of the Company's shares would be achievable during the period under review, if not by the end of March 2023. Unfortunately, more time than anticipated was taken to undertake audits of the historical financial information of the target group and further additions to that group meant that the timetable was unattainable. After the end of the period under review Amcomri requested that the timetable be extended to the second half of 2024.

The delays and the requested timetable extension mean that, without raising additional capital or receiving some form of support from the target company or its sellers, the Company is now likely to have difficulty in meeting the remaining costs anticipated to be incurred by it in relation to the acquisition of the target and readmission. Discussions are now under way about such support as well as revised terms for the acquisition. Those discussions also encompass the revised timetable, but it is unlikely that the acquisition will occur before the second half of 2024. Any such delay will, no doubt, be a source of frustration for some of our shareholders, as the Company's shares will remain suspended until that time, but the Board believes that the size and profitability of the target group will mean that the outcome for investors will be a positive one if the transaction can be completed.

In the half year to 30 September 2023 the Company made a loss of GBP347,999 (loss in the six months ended 30 September 2022: GBP77,746). The increase in the loss is mainly attributable to the professional costs of undertaking financial and legal due diligence on the target group, preparing and negotiating agreements for the Amcomri acquisition, and preparing a prospectus and other documentation for the resulting readmission. The remainder of the losses are a result of maintaining the company's listing on the Main Market of the London Stock Exchange, audit and legal expenses not related to the Amcomri acquisition, administrative expenses and loan interest payable.

Outlook

As noted above, progress towards completing the acquisition of the Amcomri group and readmission has been slower than had been anticipated and this has resulted in a greater than expected drain on the Company's cash reserves. As noted above, it is unlikely that the Company will be able to complete these goals without either raising additional funds or receiving financial support from the sellers of the Amcomri Group. Alternatively, or additionally, the negotiation of new terms with some or all of the Company's professional advisers may be required, which may involve them postponing payment of fees and/or taking shares in the Company in lieu of cash payments for fees in the event that the transactions did not complete in certain circumstances .

The Board would like to thank shareholders, advisers and others for their continued support and patience during the period under review .

Richard Beresford

Non-executive Chairman, 28 December 2023 ..."
Posted at 20/10/2023 16:51 by hedgehog 100
20/10/2023 08:43 UK Regulatory (RNS & others) Rockpool Acquisitions PLC Notice of AGM 17th November 2023 LSE:ROC Rockpool Acquisitions Plc

"Notice of Annual General Meeting

The 2023 annual general meeting ("Meeting") of Rockpool Acquisitions Plc will be held at The Merchant Room, Eagle Star House, 5-7 Upper Queen Street, Belfast, BT1 6FB on Friday 17 November 2023 at 10:00am.

The following documents have been made available to shareholders today:

a) Notice of Meeting;
b) Shareholder Proxy Form; and
c) A copy of the Company's annual report and accounts for the period ended 31 March 2023 ("2023 Annual Report & Accounts"), which were published on 31(st) July 2023.

The Notice of Meeting and 2023 Annual Report & Accounts are also available on the Company's website: www.rockpoolacquisitions.plc.uk/information-for-investors

In accordance with Listing Rule 9.6.1, copies of the above documents have been uploaded to the National Storage Mechanism (NSM) and will be available for viewing shortly at: hxxps://data.fca.org.uk/#/nsm/nationalstoragemechanism

Ends -

For further information please contact:

Rockpool Acquisitions Plc
Mike Irvine, Non-Executive Director mike@cordovancapital.com
www.rockpoolacquisitions.plc.uk

Abchurch (Financial PR)
Julian Bosdet Tel: +44 (0)20 4594 4070
julian.bosdet@abchurch-group.com"
Posted at 05/8/2023 21:27 by hedgehog 100
Hilco has been mentioned in the news this week:-

"Wilko homeware chain on brink of collapse

2 days ago Comments

... It has already borrowed £40m from Hilco, a specialist retail investor and the owner of Homebase, and has even been exploring the potential sale of a stake in business, according to reports by Sky News. ..."
Posted at 01/8/2023 18:01 by hedgehog 100
Paul McGowan was born in Belfast, and qualified as a Chartered Accountant in Northern Ireland, so ROC looks to be an ideal shell for him to reverse his Amcomri Group into:-

"About Paul

Paul McGowan Executive Chairman and founding partner of UK-based Hilco Capital – a Hilco Global Company – and prominent financial investor and advisor. He leads much of the company’s work with stakeholders across a broad range of sectors to deliver optimal outcomes in transactions across the UK, Western Europe, Canada and Australia.

Having qualified as a Chartered Accountant in Northern Ireland, Paul took up the post of Finance and Operations Director at Jacqmar plc in London before moving on to Leslie Fay (UK). He managed all aspects of finance, administration, supply chain, and retail operations in fashion businesses before becoming Chief Executive at Leslie Fay. He established Hilco UK in 2000 in a joint venture with Hilco Trading, the predecessor of Hilco Global."
Posted at 16/11/2022 16:40 by hedgehog 100
So, a proposed ROC RTO at 7.86p: a 67.23% premium to the 4.7p suspension price.

If ROC hadn't been suspended yesterday, it would probably have been yesterday's second top riser (behind BSFA, another RTO, which more than doubled yesterday).

And Amcomri looks a great RTO: an exiting, fast-growing venture, with the sort of revenues and profitability that investors are currently prioritising, but still modestly valued.

It also looks like exactly the type of business that could really benefit from a stock market listing, leveraging its listed shares to further execute its 'buy-& build' strategy, taking advantage of the sort of depressed valuations that challenging times always throw up.

It certainly seems to have the potential to move up strongly from the 7.86p RTO price, both in the short term after intended completion, and in the medium and longer term after that too.
Posted at 28/7/2022 17:47 by hedgehog 100
There appear to be just three active N.I. businesses listed in London (UTV left the market in 2016, and ROC has no active business).

Considering this tiny number, it seems remarkable that they include a former 10-bagger and 150-bagger amongst them; and with even the third having more than doubled at one point, and still being well above its floatation price.

And it suggests that there could be an untapped pool of quality NI businesses ripe for a floatation, but overlooked by the London-centric investment hub.


I would think that any sensible investor would want a piece of this action, which makes ROC an almost heaven-sent opportunity.

And at it's current share price of just 4.75p, a massive discount to its cash, ROC could also be a way of getting into a future stellar growth stock at a quite massive discount.

RTOs are almost invariably priced at a significant premium to the shell's cash, so it's hard to see how a good RTO here soon would be priced at less than about 10p/share - and it could even be significantly higher than that.


Then if the RTO excites the interest of the wider market, it could start trading at a significant premium to the RTO price.

And with ongoing share price growth potential on top of that going forward.
Posted at 27/7/2022 19:50 by hedgehog 100
"Rockpool is seeking a company or business:

Run by an exceptional senior management team with a proven track record in their industry or sector

With the desire and ability to grow significantly in its existing markets and/or in new markets

Which could perhaps act as a platform for acquisition and/or consolidation in its sector

Which could benefit greatly from better access to capital in the short and long-term

Whose reach, reputation and credibility with customers and suppliers alike may be enhanced by a public listing"




ROC seems to have a quite exacting set of RTO criteria.

But this should mean that any company they choose to RTO is absolutely top notch.

And you would certainly expect a quality RTO to be priced a significant premium to ROC's cash; whereas ROC's share price is currently at a significant discount to the company's cash.

Ergo, a good successful RTO here should yield great gains to investors at the current level.

And there's no real reason why the company can't achieve that, given the quality of ROC's management, and the breath of contacts that they doubtless have.


And I would expect an update on this quite soon, given that the company said six months ago:-

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. ..."
Posted at 23/7/2022 10:17 by hedgehog 100
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 ROC.

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

So ironically, the s.p.s of shells like ROC 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.


Which makes a shell like ROC - with both great cash underpinning and great deal prospects - a great place to 'park funds' at the moment.

Many investors may wish to reduce their exposure to shares in companies with trading businesses, but holding cash for months doesn't give any real direct upside - certainly in the short term.

ROC though has both underpinning, and great potential upside - it could easily double from this level on a good deal.

And you don't have to worry about funds being tied up here for a while if you won't be using them anyway.


In addition, ROC's large discount at the moment to its cash, despite its extremely low cashburn, looks like a temporary discrepancy - and one that is gradually being addressed by ROC's share price rise, as the market wakes up to the opportunity.

The root of this discount clearly lies in ROC's return to market, after a lengthy suspension, in very bad stock market conditions. Combined with a lack of investor awareness of this share.

It looks like there there could well have been a forced seller being forced to dump at silly prices. But with this supply of shares now gone, there's a good chance that ROC could now re-rate back up to around the level of its cash.
Posted at 20/8/2013 09:19 by schober
a bit of good news; share price = 54c
hxxp://www.rocoil.com.au/Investor-Centre/Announcements/2013/Release_190813_Beibu-ZW12-8.pdf

................ final stage of the Beibu Gulf Block 22/12 development drilling has been completed with the successful conclusion of the five well drilling programme on the WZ 12-8 West field .....................

Commenting on delivery of this strategic milestone, ROC's CEO Mr Alan Linn said:
"The demobilisation of the COSL HYSY 931 drilling rig completes the fifteen well Beibu Gulf
development programme, designed to maximise production from both the original field
development plan and development of the additional reserves discovered during the successful
2012 Beibu near field exploration campaign.
All fifteen wells are expected to be online during 3Q13 delivering daily project production rate of
approximately 15,000 barrels of oil per day (2,940 BOPD net to ROC)...........................
Posted at 10/5/2013 11:27 by dougdig
10 May 2013
ASX RELEASE
CHAIRMAN'S ADDRESS TO SHAREHOLDERS AND AGM
PRESENTATION
Attached is the Chairman's address to shareholders and AGM presentation being presented today in Sydney
at ROC's AGM. A copy of the presentation is also available on ROC's website:

Alan Linn
Executive Director
& Chief Executive Officer
For further information please contact:
David Slack-Smith
General Manager
Investor Relations & Corporate Affairs
Tel: +61-2-8023-2096
Email: dssmith@rocoil.com.au
1 | P a g e
CHAIRMAN'S ADDRESS
The Annual General Meeting provides an opportunity to not only review the past
year – it allows your directors and senior management to talk about the year ahead
and the future direction and strategy of your company.
In my report to shareholders contained in the Annual Report I deal with some of the
key issues over the last year and some important strategic steps going forward.
It is worth for the moment recapping on the financial performance of the last year.
The underlying business profitability and liquidity improved appreciably in the year
ended 21 December 2012.
Additionally, and equally importantly, we operated safely and had no material
environmental incidents at our operations.
In summary, we have made good progress in the year building on the strategy put in
place 3 years ago to restructure and refocus the Company.
The new year has also started well on a number of fronts.
We released our quarterly activity report to the market on 29 April.
Year to date, our production is on track with our guidance.
Importantly, we have had a number of milestones with the delivery of first oil at
Beibu in March, on time and on budget. The project is ramping production up in line
with the project schedule with more wells being brought on line over may/June.
We have had some success in Malaysia with the initial results from the appraisal
wells in the Balai cluster project.
In the year ahead we see production from Beibu reaching plateau levels in late 2013;
further operational enhancements; and additional drilling at Zhao Dong also
contributing to production rates.
Blane, our non-operated North Sea project, is performing ahead of forecast, which is
pleasing after a period where production was shut in.
From a strategic perspective, developing our Malaysian opportunity with our
partners is a key imperative.
For this project, 2013 will be crucial as a number of key milestones will have to be
achieved which include:
2 | P a g e
• Completion of pre-development phase;
• Agreement with partners as to economic viability; and
• Submission by the joint operating company, BC Petroleum (ROC 48%), of the
field development plan.
Additional complementary China projects are under review as is advancing the
rebuilding of our exploration function, which is progressing.
The CEO's report will demonstrate the depth and level of activity currently being
undertaken by the Company.
The share price last year came off a low in December 2011. It performed well in the
year and in the first few months of this year but has since given up some of those
gains.
I think there is now a better recognition of what we are doing and how we are
executing. While one cannot predict which way the markets will go, as they are very
fickle at present, the Board and executives' focus is very much on the profitable
execution of the business strategy, recognition from the market and value
enhancement will follow. We have to a degree seen this in the last 12 months.
We are focused on ensuring this continues.
I want to take a moment to talk about last year's first strike against the remuneration
report and the steps taken by the Board to address this issue.
At the Company's 2012 AGM, the Company received votes against its Remuneration
Report greater than 25% of the votes cast. At the time of this 'first strike', the
Company's corporate and remuneration strategies were already in place for 2012.
The Company and Board have engaged at length with various stakeholders since
then. During 2012, the Remuneration Committee, on behalf of the Board, engaged
remuneration consultant Aon Hewitt to undertake a comprehensive compensation
review across the organisation globally. In the review it was recognised that
demonstrating the link between pay and performance was critical to stakeholders
and a key component and outcome of the review was the linking more closely with
performance.
As a result of engagement with proxy advisers and stakeholders, the resolution to be
put to the meeting pertaining to remuneration has received overwhelming support
and this will be disclosed later in the meeting.
A consequence of the review is that key changes have been made to the CEO Alan
Linn's performance linked pay with effect from 1 January 2013 and will be made to
all senior management performance linked pay from 1 January 2014.
3 | P a g e
These changes see short terms bonuses historically paid in cash being paid partly in
cash and partly in deferred equity.
Changes are also to be made to the performance conditions attaching to equity
rights granted under ROC's long term incentive plan.
In line with market trends and stakeholder feedback, the "continuous employment"
and "absolute shareholder return" conditions are to be removed altogether as they
are considered not sufficiently demanding.
Consideration has been given to the inclusion of a pure accounting performance
measure such as earnings per share but this condition was regarded as no longer
consistent with market practices across peer groups and was also seen as unreliable
in variable economic conditions. Following a detailed assessment of current market
practices and peer group long term incentive plans, the Company will proceed with
two performance conditions attaching to rights to equity granted under the long
term incentive plan based on relative total shareholder return or TSR measured over
three years against two different peers groups; an indexed group and a selected and
disclosed comparator group. Going forward we believe that these two conditions
will be both motivating and challenging and will require outperformance by senior
management against very clear external benchmarks.
At this meeting the Board is asking you to approve the equity components of the
short and long term incentive awards to Mr Linn for 2012 performance which are all
based on these proposed changes.
In conclusion we have had a good year but the job ahead is to build on this and
ensure that this translates into improved share price and underlying fundamentals of
your business. This will ensure long term shareholder value is achieved.
I want to thank the Board, Alan Linn and his management team and staff for their
efforts during the year.
To shareholders, on behalf of the Board we also thank you for your continued
support and look forward to a positive and profitable 2013 and beyond.
Andrew J Love
10 May 2013

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