Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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No RNS update yet
Adept4 PLC said shareholders approved the proposed acquisition of CloudCoCo Ltd and the company's name change at a general meeting on Monday.
Accordingly, the acquisition has now legally completed.
The firm said that the company's name will change to CloudCoCo Group PLC, and a rebranding programme is now underway. Once this is complete, the firm will formally change its name, website address and trading ticker.
Upon completion, CloudCoCo Chair Andy Mills was appointed chief executive officer and, in addition, the company exercised a call option to acquire the loan notes issued as consideration for the acquisition and, in exchange, issued 218.2 million acquisition shares to the sellers.
Adept4 also completed its debt refinancing.
"I am delighted that we have now completed the acquisition of CloudCoCo and, at the same time, revised the terms and reduced the level of the group's indebtedness. I would also like to welcome Andy Mills to the board," said Adept4 Chair Simon Duckworth.
Well I happen to agree, especially as that would make me mega Rich!!!
Gotta like a dreamer! Not bad though
Over the next few months I can see a massive re-rate coming where even 30p will look cheap:) IMO
Let's see what it opens at then...
Interesting that some people have got confussed with company in the US who do a similar service to Cloudcoco. Their revenues have just hit £12m a year. The SP is 96.5p.......a very good market benchmark imo.
4p tomorrow...or the next, or maybe the one after that
A yes, i was getting ahead of myself there ...."Following Shareholder approval received today for a change in the Company's name to CloudCoCo Group plc, a rebranding programme is now underway. Once this exercise is complete, the Company will formally change its name, website address and trading ticker. An announcement confirming the timetable for these changes will be made in due course. "
although ultimately, it could happen pretty quickly and the value of the new company CLCO will be determined accordingly. Gla ;-)
The new enterprise is debt free , AD4 has existing sales revenues over £8m and CloudCoCo won almost £4m in new contracts in their first year of trading up to April 2019 and announced in September that they are one of 32 companies given fast track staus of a share of the £400m YPO public sector data center network and are one of 11 out of the 32 given first shake on running co-location data centres for public bodies, and so potentially their share of £400m could be more than most, and highly significant. They also have been given supplier status on the Government's G-Cloud 11 framework which could aslo provide significant business revenues and have confirmed they have news on two NEW VERY LARGE AND EXCITING NEW CLIENT CONTRACTS to be announced. so watch this space. Gl :-)
is the ticker being changed tomorrow? I was in SAT when it changed to BBB, as I remember that was done on a separate RNS.
Yeah deal down but not the rocket ship many were expecting. 4p is a real sticking point here
The ticker change is largely irrelevant, the deal has been done but now need to undertake a full rebranding exercise
That was my point, we will change to Cloud coco in the future ?
No change of ticker for a while though
Not really, AD4 will cease to exist at close.....CLCO is expected to open tomorrow, a completely different enity. Gl ;-)
Sorry Moneymunch, can you explain please atb.
Kinda relevant tho....
AD4's closing price is irrelevant......it's CLCO's opening price that we're eagerly awaiting. Gla holders:-)
I agree, what does a company have to do ?. Over the weekend there was talk of 5p today, my self for one. I can see 3p at close. IMO GLA hold tight.