Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Hi Growingballs. What do you make of AAA? It looks like AAQUA is the new Sentience for moving money around?
It appears that AAA are attempting to build a Medium Mcap company from the ground upwards by hype only. Could then ASLR team up with AAA to make a new consortium to go forwards and bring Sentiance back to the AIM party w/o Mesh ?
Mesh have never delivered on any of their big Sentiance option funding deadlines, be it monchichi, HGC, Mesh or whatever they keep re-branding themselves as. Sentiance and their VC backers must be chomping at the bit to get their brand some market exposure, their AI play is so mainstream right now, even more so with governments employing lifestyle modelling apps. Thats a real failure from Mesh, such an opportunity lost. Cant see any traction for Mesh going forwards, they will be given the preverbial boot ! ASLR need to put a suit of shining armour on to rescue this show.
The suspension can last until mid August before any deadlines appear, and we are not even half way there yet, so no need to panic.
Of greater immediate interest are the MESH options which expire on 30th June 2020.
When these were agreed in early March they must have anticipated that the funding would be complete by then.
So by that date they'll either be exercised, extended or expired.
That will give a clue as to future direction.
And as for the AAA fundraising the AAA directors seem to be having difficulty assessing whether raising at 1p with warrants at 1p is better than raising at 1.5p with warrants at 2p.
I would have thought what was in shareholders interests was obvious, but hey ho.
Conspiracy theories abound. The good news for ASLR shareholders would come in the form of secured funding, and that they will be going ahead as per plan. With the emergence of COVID since suspension, has that had a material impact on the maximum allowable suspension period of 6 months due to a sudden lack of appetite ? If so, then shouldn't they be applying for an extension period comparable to this weird market situation.
Well even if I've got the wrong one, then the "wrong one" is still interested in acquiring shares in AAA and ASLR, and presumably he knows more about what is going on than I do.
And he is still interested in expanding his holding in AAA at the present time.
And if he is a mate of Mike Power, then he definitely will know more about what is going on than me.
I think you have the wrong Peter Antonioni. I think it’s more likely the Peter Antonioni who is a mate of Mike Powers, CEO of MESH, and sometime inter dealer broker, nightclub owner and Singapore resident.
On the face of it the off book sells at 70p would not necessarily bode well.
However if you add up the 5 trades listed on LSE they come to exactly £1M and those trades took place on 16th April 2020.
We don't know who sold those - but on that same day Peter Antonini (who is/was a 5.47% shareholder in ASLR) bought 100,000,000 shares in AAA at 1p - total value exactly £1M via his 192 Pte Ltd vehicle.
AAA in turn has a shares and options in ASLR.
It isn't beyond the bounds of reason to suggest that Peter Antonini sold/swapped £1M shares in ASLR for the equivalent value of shares in offshore vehicle AAA, whose major asset is its stake in ASLR.
Subsequent to that he has thrown a spanner in the works concerning a further fund raise by AAA (supported by Chris Ackers) which was to be at 1p and 1/3 warrants at 1p - by offering to pay 1.5p for the shares and have warrants at 2p!
If you read back through the posts I did highlight this some time ago.
Now I don't pretend to know what is going on because you only get glimpses of the behind the scenes movements, but if ASLR is a complete pup then why put money in in the first place just before suspension, and then seek to pay 50%/100% more than Chris Ackers for an interest in AAA whose main asset is shares in ASLR?
AAA is "considering" his proposal.
And I guess Peter Antonini is no slouch when it comes to financing because he is a Senior Teaching Fellow at UCL and wrote "Economics for Dummies", "Macroeconomics for Dummies" and "Microeconomics for Dummies".
So I would think he knows what he is doing in seeking to build a stakes in ASLR and AAA.
More so than me, anyway.
ASLR 'had' quite a healthy Mcap, prior to going into suspension, for a company that in reality only owns a small percentage of a UK based Karaoke company "Roxi". Granted ASLR has an option to purchase a stake in Sentiance, however the off-book trading at 70 odd pence doesn't suggest that funding isn't looking too good. Who would unload their shares pending such great news. Where is the transparency on this and who wanted out ? The question is will this share comeback to trade or will they let the suspension continue ad-nauseum until they delist after all its already been "a-similar" ride for mesh share holders.
Opportunity deadlines have been consistently missed by mesh and it’s predecessor namesakes, so seeing another deal date pass wouldn’t be a surprise. What is surprising is that Sentiance don’t appear to have any other suitors lined up. For either co. Another 2 months waiting on a Binary yes no decision is very poor comms indeed, 2 months feels like a lifetime in these volatile markets.
I don't know what Sentiance is worth because no one outside a fairly tight circle is privy to that information.
As to MESH and ASLR completing - I don't think so. I think they are working to the same end - listing Sentiance - although their interests may not always be exactly aligned.
Consider this.
John Edward Taylor was appointed a director of Asimilar (then Yolo) on 3rd December 2019 just after Chris Ackers took an interest and the share price started to take off.
Lindsay Mair was appointed a director of MESH Holdings on 20th January 2020 .
But somewhat earlier than that both John Taylor and Lindsay Mair created and were appointed directors of a company known as Low 6 Security Trustee Limited on 22nd November 2019.
https://beta.companieshouse.gov.uk/company/12328115/officers
Quite why they should do this I'm not sure - I am sure there is a reason and a plan - but there are certainly links between the two companies suggesting they are working in tandem. And owning 50% each of a joint company suggests JT and EM are working together not against each other.
I don't doubt that raising £30m a piece is something of a tall order in present circumstances, however there have been numerous fundraisings by many companies in recent weeks. It is simply a question of terms.
My main concern presently is not the funding per se but that time is limited.
Its hard to imagine how either mesh or ASLR could possibly raise a smile at the moment with the potential global money issues. What is interesting is what would compel an investor to pump funds into either, Mesh looks like it is more investible as it actually owns a % of Sentiance and their story has been panning out since the days of Monchichi for 3 years. No doubt they must have a pretty good plan of what to do with their ownership of Sentiance. ASLR looks like a new play, are they working against Monchichi's plans ? How can 2 companies compete for teh same space, an equal holding - unless their ideas are in alignment with one another. Any investor would surely want both parts of the options. ASLR being public listed is on the face of it transparent compared to Mesh, and furthermore would give a route straight to the market. Something that Mesh has failed to capitalise on in almost 3 years promoting Sentiance. What Sentiance really worth anyway ?
We should get some definite news by the end of June.
MESH need to hold an AGM by then and their options in Sentiance are only valid from 23rd March to 30th June 2020. So they will either expire or be extended.
Both MESH and ASLR need to raise quite a bit to be able to exercise their respective options, both around the £30 million mark to exercise all of them.
ALSR announced a conditional raise of £7.5m in March, but nothing since.
The recent AAA news on funding suggests the deal is still going ahead, otherwise there would be no point in fighting over it.
I guess COVID may be delaying matters, but everything I read suggests that tech will be one of the eventual big winners from the COVID situation which will accelerate existing trends.
Fingers crossed.
I don’t believe so. The previous poster has joined this week with the sole purpose of discrediting Akers and these deals. His information is incorrect and misleading. Sentiance was featured by Deloitte in their fastest growing tech companies report and has revenues estimated at $5m, although nobody is privy to the actual number as they are a private company. Let’s just wait and see how this all plays out.
SGV looks like the city is taking the investors for a ride
Good work skittish, you’ve done a lot of research. Saves me reading all the RNS’s. That’s an intriguing story about this Bonnier. There does appear to be some synergy across the whole plethora of companies making a play for Sentiance in your list. Namely Chris Akers, all these companies originally were smallcap players, suddenly revitalised interest with the same objective. Sounds like Sentiance is not just an ordinary prize, Intrigued.
Hi gb,
If you read back through the history ASLR and Mesh now seem to be acting in tandem, although their interests may not actually be exactly aligned.
ASLR presently have options to acquire around 35% of the Sentiance enlarged capital, MESH around 55%, the remaining 10% being directors, employees etc.
Both have stakes at present, I think ASLR 7% (from memory), MESH 16%, but both need to raise big money to move forwards and exercise the options.
MESH appears to have been the original preferred vehicle but that allegedly had problems with the FCA due to the involvement of Robert Bonnier, or at least his missus, as she is a major shareholder in MESH. Bonnier got into a mess many years ago over allegedly lying in RNS's (there was a story in The Times in January 2020) and has been persona non grata ever since so far as the FCA are concerned. His associates have now been booted out of MESH, but presumably she is still a shareholder. The FCA, I think, won't allow MESH to be used as the vehicle to float Sentiance, with the Bonniers involved and her holding shares.
https://www.thetimes.co.uk/article/dotcom-financier-robert-bonnier-linked-with-sentiance-bid-6ljrwkcg6
Enter, stage left, ASLR.
So I think ASLR will be the vehicle actually used to list Sentiance, with MESH somehow piggy backing on the float.
I'm not sure how much Sentiance is expected to be worth, but there appear to be quite a few people scrambling for the spoils already via ASLR (and possibly AAA and now PIRI) so it must be expected to be worth quite a bit.
MESH need to hold an AGM by 30th June so there may be some news from them soon.
Last year YOLO's H1 report was 30-4-19 so we may get ASLR's H1 on Thursday.
Whatever is going on there appears quite a few people keen to gain an interest in ASLR shares and warrants at 130p - and one of the original fundings had warrants exercisable at 130p if the shares went above 280p! for 5 days.
Hopefully all can be concluded by mid August as our 6 month suspension is up then :-(
But these fund raisings by AAA and PIRI may mean progress of sorts, although there is no guarantee that the raisings will be used to invest in ASLR , although I suspect that they may be used as a means of gaining a semi detached interest in ASLR and Sentiance.
Here's hoping.
Is AAA into buying ASLR because of value perceived in Sentiance ? Another company MESH also has an interest in Sentiance, though MESH got ejected from NEX exchange a while ago, and since then their poorly ran company has led them into a News Vacuum (though not too dissimilar to the one that ASLR is having now). Why not AAA just buy MESH as they have an 80.1% purchase option on Sentiance.
Interesting RNS from AAA this morning.
They announced a fundraising on 3-4-20 with an EGM on 30-4-20 raising £1.26M @ 1p, with 1 warrant for every 3 shares @ 1p but no circular was ever published. That £1.26M was to be for working capital and certain unspecified tech ventures.
Their principal asset is 1.13% of ASLR and some warrants in ASLR.
Now (28-4-20) they say 192 Pte Ltd, a 14.5% shareholder in AAA, proposes raising a lower unspecified amount but at 1.5p, with warrants at 2p. The original funders won't lose out as they'll still get warrants - but at 2p!
The market seems to like this news as the AAA shares are up 6%. AAA say they are considering matters.
192 Pte Ltd is of course Peter Antonioni (of UCL and "Economics for Dummies") a 5.7% shareholder in ASLR. He appears to have got those shares around the time of the January placing, at 40p.
Subsequently he took his 14.5% stake in AAA on 16-4-20 buying 100M shares @ 1p for £1M (the sellers were companies associated with Peterhouse, broker to both companies and PIRI, and they'd got them at 0.1p a few months earlier). That same day £1M shares were sold in ASLR @ 70p - see my post that day - presumably by Peter Antonioni - or maybe simply swapped with the Peterhouse companies.
So it looks like Peter Antonioni buys into AAA, and then seeks to upset the apple cart when it comes to the fundraising at 1p. I'm sure the original proposed placees won't be too happy at having to pay 100% more.
And where might he get the cash to buy another circa £1M of AAA - well maybe from a sale of some of his ASLR shares again bearing in mind that the latest conditional placing was significantly oversubscribed at 60p, with warrants at 130p.
Is he seeking to offshore a greater proportion of his anticipated profits from ASLR, as AAA is registered somewhere like the BVI?
Difficult to see how the AAA board could refuse his offer when it is priced 50% to 100% above the existing proposal.
And then PIRI (totally unconnected) propose a £1.060M fundraising on 24-4-20 for investments in certain unspecified tech ventures. That fundraising would involve Chris Ackers putting forward about a third of those funds.
Could the PIRI fundraising be an alternative way of Chris Ackers further investing cheaply in ASLR, in the event that 192 Pte Ltd corners the market in the issue of shares by AAA? He obviously doesn't want to pay 100% more.
Chris Ackers still appears interested in investing directly in ASLR @ 60p and 130p, per the latest ASLR placing, but using cheap PIRI shares could be a way of getting in cheaper if his subscription in AAA @ 1p is knocked back in favour of 192 Pte Ltd's offer of 1.5p.
If so, then it means that the ASLR acquisition of Sentiance is moving forwards, slowly.
Further RNS's on AAA today.
Gledhow Investments reduced 3.21% to below 3%
P3 Capital reduced 4% to below 3%
Flare Captal reduced 3.94% to below 3%
All on 16-4-2020
On 3-4-2020 Chris Ackers reduced 14.945 to 11.30% = 3.64%
The aforementioned 3 companies all share the same registered office address, and share some directors, so obviously all working together. If they've reduced to 0% then their holdings taken together with Chris Ackers 3.64% amount to 14.79%.
They also appear to be linked to Peterhouse Capital which is the broker for AAA and also similarly associated with ASLR.
Almost exactly the same as taken by Peter Antonioni with his 14.5% or 100m in AAA on 16-4-2020.
The shares transferred in ASLR on the same date @70p amounted to exactly £1 million. Transferred to a single person or multiple people?
Well I like round numbers.
AAA are raising £1.26M as announced on 3-4-2020 by issuing 126M shares which sets a benchmark of 1p, notwithstanding the fluctuations of the share price.
So it could be that on 16-4-2020 Peter Antonioni sold £1million shares in ASLR, and bought 100M shares in offshore AAA @ 1p. Maybe the shares were even swapped so Peterhouse Capital or associates now own those ASLR shares.
Not sure exactly where this goes but it appears that the "goodies" are being spread around all the movers and shakers involved in ASLR so as to ensure that everyone gets a slice of the pie when the RTO actually takes place.
Hopefully it is a good omen.
Yes - very interesting.
Filed by Peter Antonioni the founder and sole shareholder of 192 Pte Limited.
192 Pte now has 14.5% of AAA.
Peter Antonioni is of course a 5.47% shareholder in ASLR having acquired his interest on 24th February 2020, at least in part from other major shareholders including Chris Ackers who is also involved in AAA.
Maybe coincidence, but one of MESH Holdings directors also has an address in Singapore.
https://beta.companieshouse.gov.uk/officers/XJvJufaRaV3us9mveU1Lm5yvUMQ/appointments
At least things appear to be moving along, although quite what all this game of musical shareholdings means I'm not quite sure. They obviously intend to make money out of it all - maybe some profits offshore via AAA so not liable to UK tax? I think AAA is Cayman Islands? No coincidence that shares in ASLR transferred this morning, notwithstanding the suspension.
Clearly they can only make real money if Sentiance reverses into ASLR and MESH and gets listed via ASLR, so hopefully these are signs they are progressing with that.
My main worry is that we may run out of time viz our 6 months, but we have around 4 months to go yet and hopefully COVID19 won't put the skids under that.
I wonder what the intended listing price will be - certainly not less than 70p, possibly quite a bit more.
AAA RNS OUT interesting
Interesting more "trades" showing up on ASLR this morning at the "new2 price of 70p!
16-Apr-20 08:26:09 70.00 316,964 Unknown* 0.00 0.00 221.87k O
16-Apr-20 08:25:29 70.00 49,107 Unknown* 0.00 0.00 34.37k O
16-Apr-20 08:24:28 70.00 402,679 Unknown* 0.00 0.00 281.88k O
16-Apr-20 08:23:31 70.00 388,393 Unknown* 0.00 0.00 271.88k O
16-Apr-20 08:21:31 70.00 271,428 Unknown* 0.00 0.00 190.00k O
AAA also seems a bit spiky today up 45% to around 1.525p with a number of large block trades going through.
Some adjustments going on in the background?
AAA now raising £1.26M @ 1p per share for investment and working capital purposes.
EGM 30th April 2020.
Bit more research - Monchhichi PLC shareholders have already swapped their shares for shares in High Growth Capital which then became MESH Holdings.
So it looks like a tidying up exercise - but with AAA also getting active at the end of March we could be approaching the end game for AAA/ASLR/MESH/Sentiance.