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"... Pull that kind of heavyweight team together, with a mandate to “pursue available investment opportunities in the natural resources and energy sectors”, and more excitable private investors will inevitably look to join dots to guess the magnitude of business probably teed up to reverse in.
Commoditrade, Mentum’s previous incarnation, like Skiddaw, was another shell company floated on AIM by Andrew Regan, the colourful entrepreneur still best known for his unsuccessful attempt to gain control of the Cooperative Wholesale Society in 2009.
In 2006, he reversed a London Metal Exchange (LME) trading business into it, which made terrific money and commanded a market value of about £150 million until the credit crisis pulled the shutters down on financial markets.
Five short years later, the (still profitable) trading business, which also had $1 million cash and a further £1 million of LME shares was then sold to one Andrew Regan for £1, leaving a clean shell, then recycled to become Mentum.
Against the backdrop of an improving American economy, the FTSE 100 was driven 50.1 points higher to 6,621.1 by the latest glut of company results."
https://www.thetimes.co.uk/article/cast-list-including-son-of-abramovich-manages-to-create-drama-of-its-own-xdd7szs0qjm
TMOR's non-executive director Charles Goodfellow was previously a director of shell company Mentum (MEN), which became a terrific multibagger.
Consolidation adjusted, Mentum's lowest placing, a few months before its RTO suspension, was at 0.13p.
And MEN's RTO was then priced at 0.575p, i.e. 4.423 times as much.
Here's an interesting article on the excitement around that shell, including Charles Goodfellow's involvement:-
"Cast list including son of Abramovich manages to create drama of its own
Gary Parkinson
Thursday August 01 2013, 1.01am, The Times
There was a frisson of excitement on the bulletin boards of financial websites about a little-known AIM shell company with a lively cast of characters.
Mentum, valued at barely £2.3 million even after yesterday’s 80.9 per cent surge to 0.43p in heavy trading, issued no news.
It’s the personnel involved that sets it apart from the run-of-the-mill shell, which is no more than a company that has a stock market listing — most often, but not always, on AIM — but is devoid of a trading business.
They can be “clean” and unencumbered. Or they can be “dirty”, the rotting carcasses of collapsed businesses, routinely replete with duff management, torched shareholders and debts that drown any residue of cash still glued to the bottom.
One of Mentum’s three nonexecutive chairmen, Peter Moss, is a former Dresdner Kleinwort Wasserstein, Donaldson Lufkin Jenrette and Commerzbank banker of some 30 years’ experience. Another, Charles Goodfellow, has been raising money for small and medium-sized companies listed in London for nearly as long.
The third is Shahed Mahmood, a founding shareholder and director of several AIM-quoted investing companies, including Skiddaw Capital, which became Crosby Capital Partners, which became Zoltav Resources backed by Arkadiy Abramovich, the son of Roman, the Chelsea billionaire.
In June, large new shareholders jumped on board Mentum. Jim Stewart is the chief executive of the Investment and Development Office of the Emirate of Ras Al Khaimah. Mike Douglas is the founder and owner of the SKA International Group, which supplies fuel to the US Army in Iraq and bills itself as “doing difficult jobs in difficult places”.
Both Mr Douglas and Mr Stewart own nearly 13.3 per cent of Mentum. So too, rumour-mongers suggested, does Ilyas Khan, the man who put Zoltav together, purportedly now pulling Mentum’s strings. He is not mentioned as an investor, but the suggestion was that he is behind Stanhill Special Situations Fund, ECK Partners and Bleachers Investments, each owning more than 4.4 per cent. ..."
https://www.thetimes.co.uk/article/cast-list-including-son-of-abramovich-manages-to-create-drama-of-its-own-xdd7szs0qjm
You can now buy TMOR at the IPO price of 1p, which looks great value.
TMOR non-executive director Charles Goodfellow looks ideally placed at Peterhouse Capital to help arrange a quality RTO here:-
"Charles Goodfellow (Non-Executive Director)
Charles Goodfellow is a corporate broker with over 25 years' experience of raising funds for small and mid-caps and private companies across a range of sectors and jurisdictions. This includes a specialised focus on oil and gas, and clean and renewable technology. In addition, he was previously a Director of Acorn Growth plc (re-named Vodere plc). Proficient in six languages, Goodfellow has studied and worked globally and brings a wealth of experience and broad outlook to the team."
http://www.moreacquisitions.co.uk/
"Charles Goodfellow
Consultant
Charles is a Corporate broker with over 25 years’ experience of fund raising for small and mid-caps, and private companies across a range of sectors and jurisdictions.
Charles is multi-lingual.
cg@peterhousecap.com
+44 (0)20 7220 9791"
https://peterhousecap.com/people