Share Name Share Symbol Market Type Share ISIN Share Description
U.k. Spac Plc LSE:SPC London Ordinary Share GB00B3CQW227 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.005 2.04% 0.25 2,898,484 11:42:58
Bid Price Offer Price High Price Low Price Open Price
0.24 0.26 0.25 0.235 0.245
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 20.99 0.84 0.26 1.0 1
Last Trade Time Trade Type Trade Size Trade Price Currency
14:34:05 O 360,000 0.24 GBX

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Date Time Title Posts
12/5/202112:44U.K. SPAC PLC - 217
20/12/200821:52I AM SPARTACUS2

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U.k. Spac Daily Update: U.k. Spac Plc is listed in the Construction & Materials sector of the London Stock Exchange with ticker SPC. The last closing price for U.k. Spac was 0.25p.
U.k. Spac Plc has a 4 week average price of 0.24p and a 12 week average price of 0.22p.
The 1 year high share price is 1.25p while the 1 year low share price is currently 0.22p.
There are currently 254,244,454 shares in issue and the average daily traded volume is 15,406,954 shares. The market capitalisation of U.k. Spac Plc is £635,611.14.
oakridge: I've also looked at the potential link between Cathal Friel's intentions at Open Orphan and his position at SPC (via Raglan Capital). If he does intend carrying through what he has suggested I can't help but think SPC would be an ideal vehicle for this..........and as we can see he has been keen to buy up some of SPC already. Why? There are no guarantees of course and we may be barking up the wrong tree. But regardless of Open Orphan, the directors here have already stated that they are to set about securing a deal with immediate effect. As most on here have been keen to say, SPC is speculative and something of a binary bet. There are four months for a deal to transpire. Expect a rapid uptake in interest here should something materialise however - particularly in connection to ORPH, but not limited to this......who knows what it incoming?
pierre oreilly: City, try as I might, I can't see the conclusion you draw from the quotes you quote. I think the orph connection comes simply from an error Cathal made by forcing a tr1 by miscalculating his investment in spc. He's even admitted that error, he just ended up with a few more than 3% when he intended to keep secrecy by buying just under 3%. From that, together with the fact he has 4 spinoff candidates, and he'll gan massively if one is reversed into spc, has led to speculation that one will use spc. But that's all it is, speculation. If the conserv (ex seek) whizz kid Kim Duncan (who is probably more astute than even Cathal) has also bought into spc (sensibly keeping below3%) that would be even more of a sign that immutex could go through spc. Of course, we can't find that out. I've read posts saying Cathal can't float anything via spc due to conflict of interests. Imo, that is crack, because of the tr1 disclosure. It's all in the public domain. He would merely have to declare that interest again during the float process, but we all know anyhow. So Imv there's a distinct possibility one of the four orph floats will use spc. But to my mind, I think any spc deal with any company will give us the price step up we are all hoping for.
city analyst1: A Freudian slip, or parapraxis, is an unintended verbal disclosure that is linked to the unconscious mind. These slips reveal confidential thoughts that people hold. Coined after the famed Czech psychoanalyst Sigmund Freud, a Freudian slip occurs when a certain part of the brain suppresses confidential thoughts and another part of our mind occasionally ‘checks in’ to make sure that we’re still not thinking about it — ironically bringing the very thoughts we’re trying to keep confidential to the forefront of our minds. Incredible right? Now, on 06 April 2021, during the April Investor Event, Cathal Friel, Open Orphan’s head honcho, was interviewed by Donal Leggatt of London South East. During the interview, a parapraxis occurred. And over the last three weeks, whilst continuing to build my position in SPC, I have kept a close eye on both BBs to see if anyone spotted the parapraxis. But so far, no one has. So, don your investment caps and follow me. Here’s the actual interview Https:// and below are the excerpts from the interview, courtesy of SONIX (audio to text converter). I have capitalised parts of CF’s speech that require your priority attention. 1. Frame I (From 4:15min to 4:43min) “A little bit of guidance, why am I doing the CEO? Why am I leaving the Executive Chairman? Well, one of the spin-outs IF WE ARE GOING TO IPO ON AIM, and then fairly quick in Nasdaq, I think I need to keep a hands-on role there as well. So I think some guidance I will be sort of stepping-in as non-Executive Chairman on the spin-out…” 2. Frame II (from 16:32min to 16:45min) “In PREP PHARMA we are the 62.6% shareholder there so that’s moving along. I’ve always said that was the much smaller of them but again I’m increasingly confident there’s a role to move that on and again INTO A PUBLIC VEHICLE.” 3. Frame III (from 19:48min to 19:55min) “So we have the 3 non-core assets and I PUT MY NECK IN THE LINE TONIGHT SAYING, BY THE END OF THE MONTH OF APRIL, at least one of those there will be an announcement as to the direction of travel.” 4. Frame IV (from 21:39min to 21:58min | 22:10min to 22:16min) “What EKF did with Renalytix, it BECAME A BILLION DOLLARS IN OVER 18 MONTHS. ONE OF OUR NON-CORE ASSETS – not saying which one it is – WILL BE DONE VIA AN IPO ON AIM. We believe it will get it to NASDAQ so I think that one I very much want to keep a hands-on BOD.” “We will dual-list it in NASDAQ. And the ideal time for that will be Easter next year (2022).” 5. Frame V (from 24:22min to 24:36min) “AND ON THE SPIN-OUT, LOOK, I HAVE A LITTLE VEHICLE CALLED RAGLAN CAPITAL. That’s where I hold the stakes including my Amryt stake. Myself and my co-founder Ian O’Connel we set-up Amryt. Amryt is now punching a billion dollars enterprise value.” So, have you worked out the parapraxis? Well, if you haven’t, here it is… Cathal Friel, Open Orphan’s head honcho, unintentionally disclosed that, one of the non-core assets (PrEp Biopharm, Imutex, and Repurposed Influenza Immune Modulator) will be spun-out via an AIM IPO using a public vehicle that Raglan Capital has a notable stake in. Fellow investors, I put it to you that, the ‘public vehicle’ indicated here is U.K. SPAC Plc (SPC). It’s the only AIM-listed, special purpose vehicle boasting Raglan Capital as the cornerstone investor. More importantly, the national designation (United Kingdom SPAC) implies a focus on a multinational opportunity (a future dual-listing?). Crucially, CF subtly indicated in the interview that he plans to replicate the ‘Amryt Pharma’ model that netted him, and Ian O’Connell, millions of dollars. And what’s the model? Use Raglan Capital as a key stakeholder in any spin-out to maximise returns. To this end, Cathal and Co. stand to benefit the most (financially) with SPC as the vehicle. It’s a double win for them. Also, a SPAC is a significantly cheaper route to bring a company to market than a traditional IPO. And battle-hardened Cathal, for one, will not be settling for the expensive alternative. So brace yourself for an imminent announcement on a spin-out; the end of the month (April) deadline expired at 00:01 this morning. Thus, my money is on IMUTEX reversing into SPC. It’s the only non-core asset (out of the 3) that has been linked to a dual-listing. And yes, I may be wrong but like CF, I’m prepared to stick my neck on the line on this one. Remember, if it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck. AIMHO.
pierre oreilly: I expect most of us here have access to share prices 12t, so you informing us of the price isn't necessary at all. What the price does before a deal is immaterial. It may go up and down 5/10/15% as traders come and go - that's not really the point with a spac. If there's a deal, it'll likely go up 5x or 10x, if it doesn't get a deal in 6 months, it'll fade to nothing. The daily trader movements are completely immaterial. I hold tate as well if you'd like to nip over there to tell us the price of those.
pierre oreilly: Orph holders, including me (and cathal) should be happy with an spc deal. Surplus assets in orph are currently valued within orph at zilch, because they're not being developed or having money spent on them. Something like dim (including orph data ltd) could imv float at a billion (or reverse and be valued at a billion) in this market at this time if it raises 900m cash while doing so, effectively giving orph holders 100m between them (in spc shares). So dim effectively zilch with no money, but worth a billion with 900m cash available to invest. Orph holders can't complain about that i don't think, even though spc holders will suddenly magic up some value. Orph has the raw material, spc is the means to the cash raised - so the gains are shared between both.Getting a double dose of shares by holding both in advance looks profitable to me in this scenario. Remember we'd get the chicken feed - the really enormous gains would go to the initial funders who have 0.19p shares and 0.3p warrants (hey, that'd be Cathal then). Not predicting the above. but that type of thing is a possibility, at least in the way i think (or hope!), but it's a very high risk punt.
pierre oreilly: Oakridge 12 Apr '21 - 23:29 - 114 of 124 0 3 0 A mere ten bag for QUETZAL! I guess it will depend on the nature/quality of any acquisition here. ------------------- Given that spc has pretty much no cash, I don't think it's a case of spc taking over something but a case of an unquoted company reversing into spc and taking over spc. Either the smallco will inject some of its own cash or, more likely, cash will be raised during the rto. But this is where it's in our favour - by definition almost, the company reversing into spc will be a very successful growing company likely in a growth or at least fashionable sector. I believe those qualities are more or less a requirement to get in the position of an rto with a cash raise. So it's hard for me to reconcile paying something for effectively nothing (except a small amount of cash) as we have done. But the chances are we end up holding a very successful growing thrusting company, which will likely grow quickly with a quote and access to cash. So it's pot luck, but could work out really well for us. (obviously, this isn't for grannies, or even those not prepared to lose the lot should no company come along in the next 5 months).
felchandbart: Not sure whether things here are in anyway linked to ORPH, but certainly the share price has had a bit of a hurry up in the last two trading sessions, today especially. Big news afoot? GLA.
pierre oreilly: Cathal friel at open orphan yesterday presented but didn't mention any spac reversal for the several noncore bits under their ownership, with plans mentioned for disposal by just about any means except through a spac. To me, it was glaringly missing from the options when in such a chat you'd expect spacs to get a mention these days in the disposal considerations.Bearing in mind he's a big initial investor in spc, I still think something from orph is a good candidate for reversing into spc. There'll be an announcement from orph later this month on what is to be imminently disposed and the method of monetising it, so we'll know soon enough. Orph pharma and orph data are the new companies he's recently formed for anyone interested in the possible spc link.
pierre oreilly: As I said, it was from an orph viewpoint a while ago. Looking at it from C's viewpoint changes the situation massively. I think a reversal of an orph asset into spc is the plan, and a resulting 4.6p spc price is reasonable if it happens. There's lots of other info pointing to that outcome, least of all Goldman's getting in on the spac market and their previous relationship with hvivo (now part of orph).
pierre oreilly: Talking of which ....Here's my view from a while ago, from an orph pov. I've since changed my mind a little on the possible final outcome. I've rechecked the numbers - I initially thought I may be a factor of 10 or 100 out in a couple of places, but I think it's all correct for the scenario described. The value for imutex seems to be much lower than others suggest.__--------------------------------------Trying to get my head around the orph/Spac situation. I think the speculation is that orph will reverse imutex into spac. I've done a bit of maths to see the financial implications for orph of doing that. The result is, i can't really see it being great for orph or orph's shareholders (with the necessary assumptions i have to make). Appreciate 1gw's comments if he's still around, or anyone else interested.The fully diluted shares of spac is 3.6bn (that's after warrants at 3p executed, cairn warrants and broker warrants at 1.9p executed, and director noptions at 1.9p all executed. spac would have 8.2m cash raised from warrants and options and the issue. Easy so far.So orph comes and wants to reverse imutex (e.g.) say. Well the majority funding for the reversal comes from orph, since spac is a shell with little cash. I'll guess oprh put in 20m (because that's what we've got) on top of imutex into spac - the whole thing is pointless without a cash injection. I'll guess at the notional value of imutex at 170m. So orph injects notionally 190m. C has said we'll get 1 for 1 shares during any float/action (I've pointed out that he didn't mean pro rata and actually meant 1 to 1, so we have to go with he meant literally 1 for 1). Therefore, spac have to issue 667m shares so we each get 1 spac share for each orph share we hold. (that means spac issues 667m shares at a notional 28.5p value for the notional 190m we are injecting).By doing that, spac will then have a notional 198m of assets and 4.3bn shares (fully diluted), giving a notional value per spac share of 4.6p.So this is the dilemma. Orph holders effectively inject assets at 28.5p per orph share, yet actually end up with a spac share worth 4.6p per orph share, and we've lost 20m cash from orph which has gone into spac.So the whole imutex (or any other orph float) seems not to make sense reversing into spac, c might as well just float imutex with 20m and effectively get a share worth 28.5p per orph share in the float.I think c has indicated that there's nothing in the rumours or speculation regarding spac, and i'm sure he's right.Any reversal needs to be in a company with assets, like venn and hvivo for it to make any sense for orph shareholders. I hope he's looking at the Israeli universal flu company BiondVax for a reversal and nas quote - now that makes a lot of sense.
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