The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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This just means that things are moving in the background, hopefully soon we shall have some really good news.
The Agreement, which was entered into on 26 September 2019, provides for the Company to acquire the entire issued and to be issued share capital of Supply@ME from the sellers for a consideration to be settled entirely by the issue of new ordinary shares in the Company. These new ordinary shares will be issued at a price of 0.6756 pence per share, being the volume weighted average price of an Abal ordinary share over the 5 business days preceding the date on which its shares were suspended from trading on AIM. No cash or other consideration will be payable by the Company.
Whats the latest news here, anyone???
looks like we need to wait a bit longer
Tiny bit of a mention here. Mainly about SIA.
https://ibsintelligence.com/ibs-journal/ibs-news/sias-board-of-directors-announces-federico-lovadina-as-chairman/
The company has until February 5th to complete a successful RTO.
That date is for AIM, but they're not intending to come back to AIM, so it doesn't mean anything now.
The Agreement is conditional on a number of matters, including completion of the proposed placing, shareholders' approval and completion of all necessary regulatory permissions, and the admission of the entire issued and to be issued (in respect of the Acquisition and the proposed placing) ordinary share capital of the Company to the Official List (standard segment) of the UK Listing Authority (the "Standard List") and to trading on the Main Market of London Stock Exchange Plc, for which application is expected to be made in due course. There can be no assurance that all or any of the conditions to the Agreement will be satisfied and accordingly there can be no assurance that the Agreement will complete in accordance with its terms or at all.
Only 4 weeks left to RTO or delist.
28 days notice of EGM required and shareholder approval needed for the fund raise.. Not happy
What does this mean the RTO is not going through?
It is not looking good. IMO if we don't hear anything next week then its over
Does this mean anything?
Looks like they've now added London as one of their sites on Linked In and they now have 19 employees active in the company - They have taken on additional staff (over 5) hTTps://www.linkedin.com/company/the-avantgarde-group-spa About us Cross-border (Milan, London) “fintech hub” with three active business lines: 1. Regulatory – Technology (“RegTech”) and Supervisory and Technology ("SupTech"?) through RegTech Open Project - Subsidiary Company 2. Asset-Based Fintech (focusing on Inventory "monetization"?; through Supply@ME - Subsidiary Company) 3. Insurtech (focusing on Internet of Things and proximity insurance through Darwinsurance - Subsidiary Company) Website hxxp://www.theavantgardegroup.it Specialties Innovation, Fintech, Regulatory, Insurance, Digital transformation, Working capital optimisation, Blockchain, Internet of Things, Artificial Intelligence
I would say that it's possible that they are scaling up for the RTO or it might just be them expanding their business. Us PI's can only speculate and cross our fingers!!
https://www.linkedin.com/in/eduardo-revolo-770324162/
Check out his experience entry.
"Since January 2019 Supply@Me has grown adding 500M of contracts value. The aim for this year is to bring the value to 1BN euros, working with a wide network of experience professionals such a CFA, consulting firms, banks and insurance firms. "
The date has been mentioned a few times here but they have said they intend listing on the main market not AIM, so they would be delisting on AIM anyway, so the date doesn't mean anything IMO. Looking at above I hope they still intend doing the deal!
When is the confirmation of the deal going ahead and complete?
What happens to our shares if this is delisted from aim? Can they transfer our shares over to a main market listing?
What normally happens is the shares will be cancelled and new shares issued. There could also be a consolidation, maybe 1 for 10 or 20.
Hi Ace
It's Connor mate.
Been away and had to set up a new account here to communicate.
I say news this week and we are probably looking at a much higher Mcap when re listed for trading.
Avantgarde group was valued at around 75 Mill Mcap and that was over a year ago and they are going great guns and we are also looking at the European rollout piggy backing off Europes number 1 blockchain platform SIA
My take is 35 mill to 50 mill Mcap here, so no idea how many shares will be issued for the reverse and funds moving forward?
Let's see what the next RNS reveals to us all.
Not long to go now
GL
Ace they have now exceeded 600 million
I can already see that target of 1 billion by Sumner.
Simon Charles will be stepping down once reverse gets done and will be replaced by Alessandro of The Avantgarde Group who own Supply@ME
I can see our Mcap in excess of 45 million here
If they have funders, game on, I can only see demand for stock finance outstripping supply of funding so it all becomes a margin game. Maybe 1-2% margin on 600m funding less opex giving annual pbt of possible 3-5m on a PE of 15 would get you the mcap of £45m, just how many shares to work out sp.
Get regulatory approval for delinkage of stock deals and sky's the limit, only restricted according to finance from funders, if passes risks on from banking sector I can only see huge huge demand.
Fingers xx'd,
it's been a long haul.
Excellent post Still Waiting
I have been in touch with Stanford Capital Partners last week and spoke to Patrick Claridge and was advised trading of shares will resume in February:)
We are also awaiting a substantial update regarding the reverse which should have been out last week ....so it should be this coming week.
I would say Mcap will be no lower than 50 million but as you've mentioned that we need to know how many shares they will issue?
I do know that the placing shares were bought up by a selected few and not to any existing share holders.
I am very excited about Supply@ME and cannot wait to see it grow over the months ahead.
There will be lots of contracts news coming out from our new company when it finally re lists for trading
Should get a RNS very soon now. Received a email from Eight Capital a month or so back saying things are going to plan. GL
NoMark How much longer do we have until this is de-listed? I thought it was tomorrow