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Now less than 5 trading days until we see the half year report, and hopefully an update on the RTO with Comarco.
One thing is for sure, the stock here is tightly held with very little free-float at the current price range judging by the lack of trades. Further positive news could finally see the share price recover to more sensible levels.
Meanwhile...the wind keeps whistling, the tumbleweed keeps blowing and someone has lost patience and sold to chase dreams elsewhere..hence the price drop.
Good opportunity for topping up but unfortunately i cant take advantage.
now released:
https://investegate.co.uk/anglo-african-ag-plc--aaap-/prn/aaa-interim-results/20190729160000P72FD/
As announced on 10 June 2019, AAA has signed conditional share purchase agreements to acquire the entire share capital of a number of companies within the Comarco group of companies that are based in Kenya and engaged in the port and marine logistics business (the “Proposed Acquisition”). The announcement is available on the AAA website here. http://www.aaaplc.com/media/190610-AAA-RNS-Proposed-Acquisition-Final.pdf
Whilst the Proposed Acquisition remains subject to a number of conditions, AAA intends to continue to inform shareholders and investors of developments in Comarco Group.
The Proposed Acquisition, if completed, would result in current AAA shareholders having a minority interest (expected to be less than 5%) in the Enlarged Group and would constitute a Reverse Takeover ("RTO") under the Listing Rules. AAA and Comarco Group are continuing to work towards the successful completion of the RTO and a Share Registration Document is in the process of being prepared.
Comarco Group half year report also released. Sounding very positive:
https://investegate.co.uk/anglo-african-ag-plc--aaap-/prn/comarco-group-interim-results/20190729160000PBB3D/
Optimist should the directors be buying more shares now? To follow Mike buying recently
From the Comarco report:
"Anadarko has recently announced the Final Investment Decision (FID) in the “Area 1” of the Rovuma Basin in Mozambique. At $20 billion the FID is the largest Oil and Gas sanction ever made in Sub Saharan Africa. Comarco Group is one of the few marine operators in the region with the capacity and experience to take part in such large scale and specialised oil and gas marine projects and as such it is anticipated that Comarco Group will be competitive in the bidding for ongoing and upcoming tenders. It has been projected that the total infrastructure spend for the entire project will be in the region of $70 billion."
Carrefour - they are in the middle of an RTO, they aren't allowed to buy shares.
Ok Thanks optimist
I read through both RNS and it looks very impressive to me the potential here.
I like this sentence from the AAAP report:
"With the current business performing soundly and the acquisition of the Comarco Group now signed and subject to closing I believe the outlook for the Company and its shareholders is exciting"
MMS will play this down tomorrow. Good RNs and the price keeps falling.