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AA also has Peter Mann as a primary shareholder of 2.98%, so access to additional capital will not be an issue imo.
Good summary oilman
One things for certain here. AA will moves fast, very fast. Once vaccines are rolled out and the oil price starts moving he’ll want to get a number of acquisitions over the line. Looks at the II’s invested i imagine he’ll target the southern north sea gas assets specifically in the Dutch Sector.
Remember his famous ‘RRE £50 a share’ interview in March? He stated then the SNS was an area he was showing much appetite towards.
The fact he put £10m on his own wealth into Kistos. Speaks volumes. I’m onboard on wednesday with £50k.
You got it mate but hopefully will not come into it that is clearly the plan and RRE style
So at some point in the future, for AA to get down to the same % he held with RRE, an additional 20% shares will be issued, hopefully at a much, much higher price than 100p launch.
Does AA need to make an offer for Kistos as he will own >30% ?
Interesting that on listing AA will own 33.54% of the company .... however prior to listing AA had owned 70.59%
The general rule under the Takeover Code is that a shareholder who acquires 30% or more of the voting rights in a quoted company must make an offer to purchase all of the shares in that company. However, if that shareholder holds over 50% of the voting rights already, then he can increase his stake without restriction. A shareholder could own over 50% of the voting rights of a company because he owned that stake when it came to market or because he has increased his stake and obtained a waiver of the obligation under Rule 9 of the Takeover Code, allowing him to own shares equal to or in excess of 30% of the voting rights of the company without having to make a general offer for all of the shares in the company. Such a waiver may be given by the Panel in specific circumstances, for example where new shares in the company are issued as consideration for an acquisition or where an underwriter incurs an obligation to make a general offer as a result of underwriting an issue of shares
Don't think he will hang around either, new year new deal Imho
Very good to see and more in for 14 mill
https://uk.advfn.com/stock-market/stock-news/83739708/kistos-plc-proposed-admission-to-trading-on-aim
So AA put his cash in, £10.5m ...... this time around a lot more than RRE ......
Similar to RRE, 36.77% Shares held by board and not in public hands
Nice thanks for the info
Dealings to commence, at 8.00 a.m. on Wednesday 25 November 2020, under the ticker "KIST"
So, it looks like Kistos is coming to the market with an MCap of £40.25m
Placing at 100p/s, 40.25m shares with cash of ~£34.4m
Shares available Wed 25 Nov at 8am 100p.
No problem ATB with your buy next week
obviously you are free to do as you like, I'm just saying that if you are planning on buying a few on IPO, it's not wise to tell more people about it until you finish your purchase... it is for your and mine best interest is all
Who are you the police
Its about letting a few know info on 2 boards hardly contitutes ramping does it.
meanwhile it would be nice if you shut up about it until we buy on the IPO... no idea why would you ramp it on other boards before you are in... kind of dumb
dealmaker
Steelmaker
Its listing on the 25th New fyi
He is a steelmaker proven.
Tom cross Just a company for him and Mrs tax dodge shyyte
Or will AA make magic happen once more !
Question is, will AA be the next Tom Cross (PMG) after his success with Dana. :-(
Be an interesting few weeks that for sure strong buy up to £2 for me if your taking a 3 year investment horizon
Would expect AA to get Kistos IPO finalised this weekend with backers in place and published next week .... lets see what Monday brings.