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According to David Potter (Chairman), the change of name has no impact on shareholders holdings. He also said that now the name has been changed there will be the implementation of a marketing strategy including presentations to potential investors.
Spark has changed its name to: Gresham House Strategic plc The notice doesn't say what happens to shares held under Spark.
RNS out today states that at 14 August 2015 the unaudited net asset value (NAV) per ordinary share was 987.80 pence. Will be updated weekly from now on, so hopefully get some interest in shares at current price - nearly 20% discount.
Based on the number of new shares data released from the 6th Aug GM, and current market price of the key investments (IMO / SAL / CSI / MGR) this has an approx. NAV of £10.40/share in "new money" terms. Nice upside in prospect, both in terms of growth of these current investments and (hopefully) market reaction to a re-stated NAV from Spark at some point soon.
Share price a little down on the £9 offer price. After consolidation new Spark with Gresham House worth £31m.
Recent RNS's describe the consolidation and shareholders should have seen their portfolio of Spark shares adjusted on a 1:200, today, by your broker (ie: if you had 1000 shares yesterday, you'll see that converted to 5 shares from today).
See TOFT's message. There appears to have been a consolidation at 1 new share for every 200 old ones. Unfortunately lse does not adjust its prices for such issues.
Has this really gone up 20,000% hahaha
here -think LSE have the price wrong.
.............
First of all the shares are not free; they are being offered at £9/share, so it will cost you £36 to take up the offer of 4 shares (they will round down from 4.17 to 4). Spark are saying they would open their shares at £10/share but, of course they may decrease, increase or just stay where they are. If the selling price on day one is £10 you'll have made a 10% profit, minus charges etc. So, in terms of is it worth it only you will know that. If you don't take up the offer the shares will just get put into Spark's treasury (you don't get paid anything). Of course you can apply for more shares than those being allocated to you, but it's not guaranteed you'll get them. This is all explained in the offer so, please read it before making your decision. By the way, your 5000 shares will be consolidated on a 1:200 basis (25 shares after consolidation ) and will have an opening SP of £10/share. I guess you could add your allocation of 4 shares to your portfolio of 250 shares and just see how things go.
can someone please clarify if it is worth participating- i have 5000 spk shares valued currently at £218- if do participate, i will be entitled to 4.17 shares- so i am not sure what is one gaining with such a small number of shares- what will happen if i dont take the offer? The shares will lapse and what do i get paid? with thanks
SPK pursuing new investment strategy partnering listed 'Gresham House', currently 265.50. 1 new share for 200 existing. Open offer entitlement 1 for 1200 held, at 10% discount ie £9 per share. Full info at: 'Spark Share News' above, then click 'Spark Alliance News', then click 'Director Dealings', 2nd item.
tipped this early June @ 4p - very nice rise and on the assumption it's not just a one-day spike, this could go well from here ...
Correcting date for performance related enhancement value of the Hollyport deal - delete: December 2014 insert; December 2015 My apologies
NB. A similar value IMO sale cancellation on 4 June, for 2 June transaction . . . £2.771m, sale price 1.20
IMO update; 3 June 130 - 134 9 June 148 - 150 NB. On 8th June a 'delayed -sale' dated 2 June was 'rescued'/ 'taken back'/ cancelled - £2.771m worth of shares 'sale price 1.20'! IMO 'lockdown' date is later this month. RNS dtd 21 Jan 15 read SPK, would 'actively manage them[holdings] where to do so would enhance shareholders interest'. Having sold-on a majority of it's investments, how/ whether this will apply to that remaining is unclear. SPK 3 June 3.25 - 3.75 9 June 3.75 - 4.00
It wasn't SPARK who sold.
Looks as if 10.7million shares were sold today at £1.20/share.
IMO currently 124 - 121
The RNS dtd 21 Apr 15 noted that the portfolio value sold to Hollyport Secondary represented a 20% discount on the last valuation in Sep 14. Also noted was the lockup period following the IPO of Immimobile[IMO] ending 27 June 2015, and Spk commitment to invest only in remaining holdings, and actively manage them where to do so would enhance shareholder value. There is no update relating to ' a performance related enhanced value of the Hollyport deal as at 31 Dec 2014'. 'ATM'!
Gracious how time fly's ...... Spark have an agreed sale of . . " . . . most of it's remaining portfolio investments to Hollyport Secondary" for a performance related minimum of £3.7m, which may increase by 31 Dec 14. , [see Alliance News Apr '15, here] SPK retains its 17.8% share in IMImobile[IMO} currently 117 buy, 114 sell, and a 0,5% interest in Questor Venture Partnership. In Dec 14, IMI supplied the Indian Government's region of Karnataka with the 'Mobile One' sevice for 65m of the countries 953m mobile subscribers. See IMO RNS Dec '14 for much greater detail. In Sep '14 the BBC contracted IMO to provide its Da Vinci social platform to enable, 'BBC to streamline the process of managing multi channel audience participation'. See IMO RNS dtd Sep 14 for more detail. As per RNS outlined on last post dtd 3 Jul 14!!!!!! Spark's remaining investment in IMO at IPO price of £1.20, was £12.9m. It all seems exceedingly positive news . . . . and fallen on deaf media ears?
From the RNS .......... SPK took 1/5th [20%] of it's 27% investment holding on IMO at the admission price of £1.20 = £3.2m - after costs[now in escrow less £100K possible tax demands ]. The remaining approx 17% is bound for 12 months[with exceptions] and equates to £12.9m if costed at the IPO admission price 120p, [if I read the RNS right]. How the 12 month restriction will play, and if it is cause for disenchantment ..............? Another 'obvious thing to do' or astuteness whichever, our management don't seem to have many 'followers' based on trading here[see last post] since IMO listed! I mentioned before the imponderables of 'selling', patience being a necessary quality. 'IMO' SP continues to rise on low volumes, currently bid[sell] price 132p, [buy 135p].
Seems your hopes were not shared by other PI's on either Tuesday or Wednesday[today], 1 million shares being sold each day - NONE were bought!
IMI (IMO) have got off to a good start currently trading at 1.30. Hopefully, they will increase further to add more money to the remaining shares held by SPK.