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Thanks - just a name change then. Let's hope for developments under the new management.
Changed name to Everest Global PLC - announced on 3rd Oct, effective 10th Nov
https://www.investegate.co.uk/anglo-african-agriculture-plc--aaap-/prn/change-of-name-to-everest-global-plc/20221110070000P6B4C/#:~:text=Anglo%20African%20Agriculture%20PLC%20%28To%20be%20re-named%20Everest,the%20London%20Stock%20Exchange%20from%2010%20November%202022.
Has AAAP been delisted? Whats the explanation - anyone know?
AAAP has disappeared from my dealing account - where too? I cannot find a RNS to explain.
Thanks
Started: davey50, 6 Nov 2022 09:27
Last post: davey50, 6 Nov 2022 09:27
You do not inject a small fortune in this at 5p with renewable interests to do nothing. Typical of this current market somebody pays 5p for huge size and small pi's are selling at 3.55p, I think that will turn out to be a huge mistake when the first deal is done.
the 38k trade at 3.845p on aqse is a buy, amazingly you can buy 1p cheaper than our new renewables chinese vendor
Good to see some news on this at last, hopefully the start of something exciting, I had to take a hair cut on some of my CLNs but believe it’s worth it
Started: davey50, 3 Oct 2022 09:29
Last post: davey50, 3 Oct 2022 09:29
Wonder who the mystery buyer is then, we will find out soon enough.
Started: TheTruth., 1 Jun 2022 23:22
Last post: Panama1, 8 Aug 2022 09:27
Yes, the cash may be only slightly less than the market cap. but there is also 1.2 million of creditors, and it is stated in the reprts that DIA will be sold for 6k, so the net asset value of negative over 1 mill.
Just have to wait for a update. You can buy at 4.09p currently which is way below the monitor price.
Very quiet here. Wonder when we will hear about an inward investment?
I wonder what price somebody wants to invest at or what price the company can get ?
The reason I bought was they closed Friday at £530k market with £350k cash and a disposal coming in "DIA" where they hold almost 47% so it would not take much from that to get cash v market cap. Lots of shells trade at decent premiums to their cash so little downside at this level
Anglo African Agriculture plc notes the recent share price movement and
confirms that it is in discussions with an Investor relating to a potential
investment in the Company.
Started: Bigpecs, 1 Aug 2022 13:48
Last post: Bigpecs, 1 Aug 2022 13:48
He’s probably out somewhere getting his steps in GLA ….
Last post: TheTruth., 1 Jun 2022 23:12
Was right about this share and everyone who criticised what carefour said about this share should apologise
Started: TheTruth., 1 Jun 2022 23:11
Last post: TheTruth., 1 Jun 2022 23:11
?
Started: optimist13, 23 Feb 2022 14:24
Last post: optimist13, 2 Mar 2022 14:59
A few decent buys again today....
Good to see a little bit of activity.
Full year report due, so we will hopefully get to hear where we are with any potential RTO's.
Started: optimist13, 25 Oct 2021 12:36
Last post: optimist13, 2 Dec 2021 14:25
Andrew Monk
@AmonkMonkey
·
21m
Good for #AAAP
Andrew Oliver
@Optimist13
·
45m
Replying to
@AmonkMonkey
#AAAP The new rules will hopefully benefit Anglo African Agriculture which to all intent and purpose is a cash shell, with the added benefit of being main market listed.Andrew Monk
@AmonkMonkey
New FCA listing rules are out - standard listing now min £30mn so no more small cash shells - existing ones now very valuable and have 2 years to do a deal
Africa is, sadly, very used to dealing with diversity and will bounce back. Europe has more to lose but hopefully the response systems are much improved for any new cycle of infection.
Will this new variant have a big impact on DI… hopefully it can stay in business
Thanks for the feedback Mike. Very disappointing news and I hope the company is able to extract some recompense for the significant sums outlayed on this proposed RTO.
Completely agree Bigmj, absolute disgrace. To drag it out this long before then reneging on the deal, really is unbelievable. Glad to hear you are supportive and hopefully AAAP can find a more suitable partner/growth plan in the near future (preferably one who has morals and decency this time!)
Last post: Bobat123, 28 Oct 2021 16:37
28 October 2021
Anglo African Agriculture plc
(“AAA” or the “Company”)
Corporate Update – termination of Comarco discussions
The Company announces that, as agreement was not capable of being reached with the vendors, discussions concerning the acquisition of the Comarco group of companies (the “Comarco Group”) have terminated.
Comarco transaction update
AAA made a $1m loan available to Comarco in November 2018 for an initial period of 24 months (the “Loan”). The Loan was subsequently extended and was due for repayment on 30 September 2021. The Loan, together with accrued interest, amounting in aggregate to $1.5m has been repaid.
The Company is pleased to have received repayment of the Loan, although it is considering taking legal action against the vendors of the Comarco Group to recover certain costs and expenses incurred by AAA.
Convertible Loan Note
The Board of AAA has also been in discussion with the holder of £250,000 Convertible Loan Notes that expired on 30 September 2021. The holder has informed AAA that he is agreeable to the Convertible Loan Notes being extended. The Convertible Loan Notes will continue to accrue interest at the previously agreed rate of 12%.
Andrew Monk, Chairman of the Company commented “We are obviously very disappointed that after such a long period of time, the vendors of Comarco Group could not reach agreement among themselves to combine with AAA and achieve a listing and also clearly behaved in a manner that caused harm to AAA. By contrast, we behaved honourably, have a supportive shareholder base and we will now be looking for a new direction in which to grow the Company”
Started: highlandsbull, 15 Oct 2021 02:08
Last post: highlandsbull, 15 Oct 2021 02:08
If one has a prospective investment and proposed partner such as this, their behaviour as indicated in the recent RNS should throw up a large red flag to further joint activity. Clear Comarco have found an alternative partner or income source. In that regard they have let down and failed in their agreement with AAAP. While clearly AAAP would be desirous of the return of the $1m advance, AAAP if they have use for that land, (and it is free of other unknown perhaps encumbrances), should proceed to recover it for their sole benefit. Comarco's fleet is basically a collection of old bangers. With the present availability of comparable tonnage they should just go ahead and acquire a core new(er) fleet to suit their particular needs. Better management can be bought.
As an additional pain it seems also they may optionally consider dropping 30% of the new venture on this individual in Comarco who is attempting to rescind an agreed deal for a long time. If there were concerns this presumably could have been raised in good time, not as a contributory to further delay the process. Embarrassing to encounter a result as this, but on reflection AAAP may consider they have dodged a bullet, as proven good faith seems to be a no-show. Jmo..
Don't worry , I will get involved as much as I am able to , to ensure a fair outcome for all shareholders.
The best option for all parties, is to continue with the transaction
Good to see that the talks have not broken down completely.
As you are the major shareholder in AAAP Mike, no doubt you will make sure all parties get the best deal possible.
Positive news, Thanks
13 October 2021
Anglo African Agriculture plc
(“AAA” or the “Company”)
Corporate Update
The Company is pleased to provide a progress update on the proposed acquisition of the Comarco group of companies (the “Comarco Group”). The Comarco Group is based in a port in Mombasa, Kenya (the “Port”) and is engaged in port and marine logistics activities in East Africa.
Extension of expiring Convertible Loan Notes and Comarco transaction update
As announced on 1 October 2021, the Board of AAA was informed by certain shareholders of Comarco that they were unwilling to proceed with the sale of the Comarco Group to AAA and that they will arrange for the repayment of the loan and interest due to AAA which amounts to approximately $1.5mn.
The Board has offered an alternative solution to the shareholders of Comarco representing approximately 70% of the combined businesses. The Board of AAA have proposed to continue the transaction by acquiring just their shares and allowing the one shareholder who is not currently in favour of the Comarco transaction to remain invested directly in Comarco as a minority shareholder. Should the business then require funding in future the minority shareholder will either have to match the funding up to the relevant percentage or be diluted down. This proposal has a verbal acceptance subject to it being in accordance with the articles of the relevant Comarco companies.
The Board of AAA has also been in discussion with the holder of a £250,000 Convertible Loan Notes that expired on September 30th 2021. The holder has informed AAA that he is agreeable to the loan being extended until the outcome of the proposed Comarco Group Acquisition is determined. The Convertible Loan Notes will continue to accrue interest at the previously agreed rate of 12%.
As the above proposal gives no certainty of an outcome to the Company, AAA intends to start legal procedures under the terms of the loan agreement with Touchwood Investments Limited (“Touchwood”) and reserves its right to exercise the option to acquire the entire issued share capital of Touchwood for a nominal consideration.
Started: Bigpecs, 3 Oct 2021 20:02
Last post: Bigpecs, 3 Oct 2021 20:02
Having mike Joseph’s full backing for the board and shareholders gives me confidence that he will do everything in his power to try and resolve this matter GLA
Started: optimist13, 21 Sep 2021 15:41
Last post: optimist13, 3 Oct 2021 19:04
Twitter message from Mike Joseph:
Mike Joseph
@benchpressmike
·
Oct 2
This is appalling , I will be pushing the board to make sure we get full value from the security we have in place , not letting @ComarcoGroup
get away with this , I have the funds and connections and will back the board
Sorry to hear that Bloodshot. I hope your luck turns elsewhere and you can recover your losses
Decided to sell out. Absolutely gutted.
I was already deeply under water with this on paper after hanging on to my investment on repeated promises that didnt materialise and have now taken a massive loss that will affect my future plans.
Good luck to all that remain. Maybe I made another big mistake to sell now but just couldnt risk losing it all.
Good luck to all that remain.
Gutted!
yes we can but its obviously quite a complicated and lengthy process
Hi Mike,
Yes, very disappointing news. Especially given how long this has been drawn out. I don’t suppose there is any further information you are able to share?
What is your expectation from this point? Is claiming Touchwood the most viable option as they have pulled out of the transaction?
As funds are due to be repaid immediately, I assume this furthers the breach of contract by Comarco by suggesting end of October repayment, as AAAP has full right to claim the land rather than wait for payment?
Extremely frustrating either way!
Thanks
Started: pe6169, 28 Sep 2021 09:29
Last post: pe6169, 28 Sep 2021 09:29
I meant to say: another extension?
Another extension.
Started: optimist13, 25 Aug 2021 16:08
Last post: OnTheDip, 15 Sep 2021 18:54
Yes, that’s right Optimist13, it is the end of September. Fingers crossed!
Nice one OnTheDip, we will hopefully be rewarded for our patience very shortly. I seem to recall the end of September being the long stop for completion of the SPA's.
Hi Optimist13,
Those are all mine. Stocking up a bit more in anticipation of the RTO completely shortly (hopefully… finally!…)
More trades going through on Aquis:
Date & Time Volume Price
14.09.21 | 10:01:39 16385 6
13.09.21 | 09:15:08 34117 5.798
13.09.21 | 09:09:27 34117 5.798
Yes they were both mine Optimist, my order was split into two transactions. Not sure why they appear on different exchanges though!
Started: Mogbear, 9 Sep 2021 11:04
Last post: Mogbear, 9 Sep 2021 11:04
Construction works on US $30bn liquefied natural gas project in Tanzania to begin in 2023
The Comarco port provides a strategic transport hub in the region
https://twitter.com/AGA_Plc/status/1435886706759245827?s=20
Started: pe6169, 10 Aug 2021 12:10
Last post: optimist13, 20 Aug 2021 16:03
https://twitter.com/AGA_Plc/status/1428644987172970496
?????????? ?????????????? ?????????????????????? - ????????????????????????????
The company is heading in a radical new direction with its soon-to-complete acquisition of The Comarco Group, a Kenyan port and marine logistics firm
Good to see a bit of activity here again. The news coming out from Mozambique is very encouraging and is very timely for the RTO which should complete in September.
£5k chunks someone’s keen
Look at the buys
Started: smyth234_jon, 10 Aug 2021 10:55
Last post: smyth234_jon, 10 Aug 2021 10:55
“Lasting peace and stability in the area may convince TotalEnergies to resume work on its mega liquefied natural gas project, about 60 kilometers (37 miles) north of Mocimboa da Praia.”https://www.moneyweb.co.za/news/africa/troops-eject-rebels-who-besieged-totals-mozambique-project/
Started: pe6169, 30 Jul 2021 09:27
Last post: RIPL, 30 Jul 2021 15:01
RNS OK for me - there is progress being made?
Nm
Started: optimist13, 30 Jul 2021 09:19
Last post: optimist13, 30 Jul 2021 09:20
https://www.investegate.co.uk/anglo-african-agriculture-plc--aaap-/prn/directorate-change/20210730070000P652D/
“I would like to thank David for being our Chairman over the last few years when the Company was looking for a significant deal. The last few years have not been easy as the Comarco RTO has taken significantly longer than anyone could have expected due to circumstances out of our control and Covid-19 has also caused numerous delays to complete the deal – probably 16 months. The good news is that the RTO is now close to the finish line and so it was time to make Board changes to reflect what the Company will look like in the future I have retaken the role of Non-executive Chairman in order to ensure a smooth transition.
I believe the RTO of Comarco Group will create significant value to the Shareholders of AAA both short term and long term and I also believe because the port is of such significant strategic importance, that there will be considerable interest from outside parties to work with us and before the Covid Pandemic started we had already seen this. There are also numerous avenues to grow the business to a much larger group of ports and marine services across Africa. How the future pans out will almost certainly mean that the Board may change in the future and as my objective is purely to restore and grow shareholder value, I am expecting that my role could change in a relatively short period after the RTO completes and travel restrictions are eased as the pandemic comes under control.
AAA is now entering a very exciting time and I look forward to the future with enthusiasm."
Encouraging news.
Started: pe6169, 28 Jul 2021 09:18
Last post: pe6169, 28 Jul 2021 09:18
Nm
Started: optimist13, 30 Jun 2021 15:35
Last post: optimist13, 5 Jul 2021 10:23
Ah well...we get there in the end.
AGAplc(AAAP) active on twitter again this morning.
And the two question marks were supposed to be a smiley..
Not doing well are we : )
And to correct myself, its berth not birth ??
Hi Bloodshot, you are correct. It is indeed $1.87m per month.
The way I heard it thats around $1.8 million 'per month' from a new deepwater birth, not per year and thats just in our own port. Also they have ambitions to take over/run other ports around Africa and turn us into a pan African business operating around the continent.
Then theres all the future business to come from the big multi billion gas projects there.
Massive upside for a tiny company.
Anglo African Agriculture (AAAP).
Worthy of some research for those who dont know this company, presently with a tiny £1 million pound market cap, soon to be much bigger and a very promising future as Agulhas Group Africa.