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I have waited nearly a year for this RTO to happen and this is what I get the sp going down
down now?
I beg your pardon..obviously not suspended just no trades from friday til tday.
Id say not likely mogbear. From what I can see the last trades were last friday so we must be already in suspension.
Not been in this position with a share before but were now waiting for the prospectus to be published and sent out to shareholders with all the fine details of the proposal, then a general meeting will be called were shareholders will be able to vote for or against.
Not sure wether i will be sent a prospectus as i use an online stockbroker and im not resident in uk now. Hopefully there will be an online document that can be downloaded.
I am trying to get my head around this amazing opportunity and whether or not there is an obvious chance NOW to take up AAAP shares instead of waiting for the new Agulhas listing - any thoughts here?
Agreed. At the moment it seems like were still not on many radars. Presumably well be suspended and relisted as the new merged LSE listed company Agulhas...with a much larger market cap of course. Maybe thats when more larger investors will start to see the opportunity on offer.
Havent seen any timetable for the suspension yet though.
Amazed this is not higher given recent events. Needs a bit of PR.
MM's trying very hard to walk the price down, despite the buys outweighing the sells.
Added a few more this morning.
Deepsurvey1 - I don't think you have interpreted the RNS correctly. Comarco will be issued with $30m of shares, but that does not constitute the total share holding. Also, the Comarco net assets have been valued at $36m, so the 0.5p per share is merely the transaction price and in my view, does not indicate the value of the combined businesses when the RTO completes.
A lot more information to be digested before we get a clear indication of the true value here, but as shown in my posts this morning, plenty of opportunities available for the new Company , especially if they have access to funds.
I think this newly formed Main Market company will do very well in the months ahead.
Andrew Monk
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@AmonkMonkey
18m18 minutes ago
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Replying to @Optimist13 @ComarcoGroup @DavidLenigas
Cant give a specific reply but the LNG project is $20bn - just 0.1% of that to the port is massive and they have to bring in equipment either through Mombasa or Richards Bay
Extract:
“At $20 billion, today’s FID is the largest sanction ever in sub-Saharan Africa oil and gas,” added Jon Lawrence, an analyst with Wood Mackenzie’s sub-Saharan Africa upstream team.
The project is also expected to be transformational for Mozambique, one of the poorest nations on earth beset by economic crisis, conflict stemming from a civil war and serious governance malaise, whose annual gross domestic product is just $13 billion.
The government of Mozambique said the project is expected to create more than 5,000 direct jobs and 45,000 indirect jobs.
With a 12.88 million tonne per year (mtpa) capacity, Mozambique LNG is one of the largest greenfield LNG facilities to have ever been approved. It involves building infrastructure to extract gas from a field offshore northern Mozambique, pump it onshore and liquefy it, ready for further export by LNG tankers.
On the African east coast, the liquefaction plant will be able to sell LNG to both the lucrative Asian market, home to 75%of global LNG demand, and to the flexible European market, which helps balance global LNG trade by soaking up excess supply.
Mozambique LNG project approved. We now just need confirmation on the size of the contract being awarded to Comarco:
Comarco Group
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@ComarcoGroup
12h12 hours ago
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LONDON (Reuters) - U.S. energy firm Anadarko Petroleum Corp gave the go-ahead on Tuesday for the construction of a $20 billion gas liquefaction and export terminal in Mozambique, the largest single LNG project approved in Africa ...
I’m thinking out loud. And thinking of re-investing when the dust has settled.
If they issue $30million dollars worth of shares - you x by 0.8 for pounds= £24 million. Aaap shareholders stake is a maximum of 5% of the new company. 5% of 24 million= £1.2 million market cap, that’s a share price of 0.32 pence. After that they need working capital which gives massive dilution, that’s not bad in this case. Aaap is in a unique position for a small company wanting to grow rapidly. It doesn’t have to go out and get the contracts, the contracts are being thrown at them. To manage that, they need a lot of management experience in growing companies in Africa and access to shed loads of money (their London stock exchange listing). It’s definitely Lenigas’s area of expertise.
Good to see the real spread in now much tighter. Buy 0.384p v sell at 0.352p.
Buys going through as sells again today.
https://internationalfinance.com/london-listed-anglo-african-buy-kenya-oil-logistics-firm-sh3-6-bn/
Extract:
AAA said, “We have further been encouraged by the recent oil and gas transactional activity in the region and the ongoing liquefied natural gas-focused work in Mozambique, all of which bode well for Comarco Group’s marine logistics focused business.”
Besides Kenya, Comarco is also operating in Tanzania, Somalia, Mozambique, South Africa, Comoros, Reunion Island, and Mauritius.
Not
Ot sure what will be the role of David Lenigas in the new company...he wont be on the board of directors. Surely he will be an asset with his experience and contacts in Africa and elsewhere.
Comarco Group
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@ComarcoGroup
May 10
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Comarco has been involved in oil and gas projects in Mozambique for more than 30 years and is well set to utilise its marine equipment, beach landing expertise and regional experience to take part in this logistically challenging project.
Comarco may well receive a significant contract next week:
https://clubofmozambique.com/news/mozambique-lng-and-the-government-of-mozambique-expect-to-make-major-announcement-on-june-18-anadarko/
I wonder how long we will have to wait to receive news on further contracts. From the recent news release:
"Over the last five years the Group has operated extensively along the Eastern African seaboard: Kenya, Mozambique, Somalia, Comoros, Reunion Island, Mauritius, South Africa, Tanzania and Zanzibar. The Group is bidding on additional work in Namibia, Madagascar and Seychelles."
buys going through as sells again I see....
Added a few more this morning. Expect there will be a lot more interest when the terms of the Mozambique contract are announced next week.
The new Agulhas Group will have seven trading divisions and I expect there will be many further contracts to be announced once the new business has the funds to expand.
Sometimes investing is all about patience. Trading is a different game of course but If you believe in your investment then give it the time it needs to come good.
Dont get nervous just when things are just getting interesting.
Been waiting for this for about a year now and finally its happening. Im happy to wait another year or two to maximise my profit if thats what it takes for maximum multiples but im sure will be in good profit long before that.
This is the time to relax and wait for events to unfold.
Carrefour - not sure if you have interpreted his post properly. We will only have circa 5% of the new company, so yes, we are being swallowed up for the greater good.
The transaction share price of the RTO does not reflect the enterprise value of the new company, and IMHO, this will become apparent as more information is disclosed and the terms of the fund raise are known.
Bear in mind Mike Joseph owns 30% of the company, and he anticipates making a very good return on his investment. His buy price was 0.50p, so I would imagine he will be looking for a considerable return from there, as am I.