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Jens Zimmerman ceased to be a director of Mesh Holdings on 2nd March 2020, although only registered at Companies House today.
He has been deleted from the Mesh Holdings website, although no formal announcement has been made.
https://beta.companieshouse.gov.uk/company/03904514/filing-history
They also appear to have got their share allotments slightly mixed up.
Matters appear to be plodding along, notwithstanding the turmoil in the markets and elsewhere.
Looks like highest price to date paid for these "suspended" shares 1.1m @ 55p!
Looks to me like subject to EGM
ASLR acquires 10,000 S shares @ E750 for E7,500,000 or £6.6M giving 9.5%
ASLR Option 1 to purchase 32,250 S shares @ E650 for E20,962,500 or £18.5M
ASLR Option 2 to purchase 10,000 S shares @ E750 for E7,500,000 or £6.6M
Total enlarged share holding to ASLR 52,250 35.9%
MESH presently hold 16,333 S shares or 16.8%
MESH Option to purchase 48,337 shares @ E650 upto 30/6/20 for £26.2M giving 47.7%
MESH First Refusal 6,667 shares from RRNB @ E750
Ultimate MESH enlarged holding 71,337 52.2%
Total ASLR MESH holdings 123,587 or 88.1% of enlarged S capital.
Total S shares in issue then appears will be 140,000 @ E750 gives a present value to ASLR and MESH of E105M or £93M.
Clearly ASLR needs to raise further significant funds. I wonder what the price of that will be?
"The Placing, which was significantly oversubscribed" @ 60p raised £7.5M to buy a 9.3% stake in Sentiance.
Warrants at 130p.
Quite something to get this away in the face of one of the worst markets ever.
Gives some hope that we wont crash wherever we relist.
I'm guessing that Asimilar and Mesh are intending to buy/acquire the majority of the Sentiance shares in issue, maybe around 90%, if you take the two totals together and then use Asimilar as the vehicle to list on the LSE.
It appears they'll both have to raise quite a bit of £ in order to do that.
Maybe MESH wasn't the right vehicle due to the involvement of Bonnier and the previous CEO, which is what The Times' article appeared to be hinting at.
But yes they appear to be closely coordinated.
I guess we'll just have to sit tight and hope that falling markets don't scupper matters.
Hopefully we'll know more in a couple of months.
Simultaneous MESH rns this morning outlining plans to also increase their stake in Sentiance to around 45%
If both attempts are successful, surely this would pave the way for some sort of merger by ASLR and MESH?
The coordination of today’s RNS does not suggest they are competing against each other - if I’m interpreting correctly?!!!
And the buying goes on... at higher levels. If thinking is same as in MESH then this relists closer to £1. Anyone long this?
Rory O'Sullivan was appointed non-exec board director of Mesh Holdings on 20th of January, probably not a coincidence.
And today we have Rory O'Sullivan joining the shareholder register with 5,250,000 shares or 4.98%. He crossed the threshold on 20 January 2020 (around the same time as Mirador), but only notified yesterday.
I guess this is he -
Managing Director at Pagemill Partners, A Division of Duff & Phelps
M&A adviser and investment banker to the technology sector. Laser focused on maximising value for technology entrepreneurs and their investors, and providing strategic insight, access to capital and advice. Successfully led over 50 transactions valued at over $5 billion, now building one of the leading technology advisory practices in Europe.
https://www.linkedin.com/in/rosullivan/?originalSubdomain=uk
Getting to be quite an interesting line up of investors in Asimilar plc.
I wonder what the share price would have been had these made timely disclosures prior to suspension - and of course prior to Covid19?
And a small £470K investment in around 5% of SeeQuestor - looks interesting.
https://www.seequestor.com/#/home
Markets collapsing again today, lucky we are suspended (lucky for now, that is).
ABOUT Peter Antonioni
Peter is a Kilkenomics regular and co-author of Economics for Dummies. He was educated at Pembroke College, Oxford and Birkbeck College, London. He is currently a lecturer in management at University College, London. Peter’s research interests are diverse and include the football transfer market, the process of enterprise in technology markets and the techniques and practice of the arcane field of long-range scenario planning.
Interesting RNS's today.
Mr Peter Antonioni as of 20th February 2020 holds 5.47% or 5,767,850 shares.
Is it this Peter Antonioni?
https://www.mgmt.ucl.ac.uk/people/peterantonioni
As of 22 January 2020 Mirador FZE of UAE holds 10,000,000 or 9.49% and who also happen to have been involved in financing MESH Holdings plc. They didn't notify the company until 25 February 2020 - tut tut.
Presumably they may have accounted for many of the large trades around January time for which we have never had any significant RNS's - although Chris Ackers and Nigel Wray reduced by a total of around 2% about that time.
If these were Mirador's trades then they were buying anywhere around 44p to 51p at that time.
Subsequently on 27th January Mrs D J Horrocks sold around 0.5%, so there may be other RNS's due.
If shares are still changing hands off market then matters must be moving forwards.
Updated shareholder profile today -
http://www.asimilargroup.com/content/investors/shareholder_profile.asp
Chunky holdings amount to 41.29%.
Could be interesting when this relists.
I'm not sure.
Can shares still be traded off book when they are suspended - it would sort of defeat the object of suspension if that were to be the case, although I suppose the authorities could not prevent you from agreeing to trade immediately following the listing of suspension?
I had assumed it was a late booked trade form the last day of trading - but I would agree a bullish sign.
In fact it has always amazed me the number and size of trades in Asimilar over the last couple of months, really chunky in terms of value but hardly ever an RNS relating to the trades.
Also interesting that MESH cancelled their JP Jenkins facility on 18th February - akin to suspension - and fired their PR and adviser.
But if their shareholders were going to swap their shares for shares in Asimilar then they wouldn't need those advisers or that facility going forwards.
Is this an off book trade? Someone is bullish.