Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
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Good times are drawing nearer by the day .
Nicely stabled .
Best of
The last line of the last update.
“ As outlined above, the Board is also currently considering, in conjunction with Rockpool Investments LLP, the disposal of all the Company's investments which comprise of a 44.5% carried interest in each of the nine 20MW co-owned FlexGen companies, which are being marketed for sale by Jones Lang Lasalle. Additionally, the Company retains a receivable of c.£650,000 in unpaid management fees from the aforementioned companies.
In accordance with AIM Rule 15, any such disposal would constitute a fundamental change of business of the Company as the Company would cease to own, control or conduct all or substantially all, of its existing trading business, activities or assets. Such a disposal would be subject to, inter alia, shareholder approval. The Board are also currently giving consideration to hiving out the remaining assets of the Company, including the interests in the co-owned FlexGen sites, into a newly incorporated private company which would be owned by the Company's shareholders on a basis pro rata to their existing shareholding in the Company. It is the Board's intention, should they decide to pursue this route, that this would take place concurrently with a prospective acquisition or reverse takeover of the Company.
At this stage no agreement has been reached on the terms of any potential disposal of the Company's existing operations or any other transaction and there is no certainty that any such agreements or transactions will be entered into nor on the terms or timing of such a potential disposal or other transactions.
Should the Company proceed with a disposal of all or materially all of its existing operations, the Company would subsequently become an AIM Rule 15 cash shell and as such will be required to make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 (including seeking re-admission as an investing company (as defined under the AIM Rules) on or before the date falling six months from shareholder approval of the Disposal or be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least £6 million of new equity funding) failing which, the Company's new ordinary shares would then be suspended from trading on AIM pursuant to AIM Rule 40.
The Company is reviewing potential investment opportunities and will provide updates at the appropriate time with regards to the future operations and funding of the Company.”
Welcome to the board TheTruth.
It's a gamble for sure but a good one in my view. So long as they find a suitable candidate for an RTO then it'll be a good start and we'll have to wait and see from there.
Expecting news this month hopefully.
No brainer