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That's interesting conclusion Nextlink! Hope you are right and we start having RNS from next week. One more question regarding the 66m new shares. If they are not all claimed by the institutional investors will the rest to left to be floating shares? Thanks.
From all that has transpired since 3rd August announcement I had concluded that there was a company lined up to reverse into. That there were institutions lined up and that the 28th September further fund raising would proceed rapidly. At this point are they still trying to raise funds or are they finalizing the reversal. I would like to think it is the latter. Institutional Investors may be waiting the nod to sign the cheque, followed by a flurry of RNS's and a brief suspension. Well that is what I am hoping
Thanks kvt. Do they have any deadline for these shares to be done? Does it work out as a long-term holding for institutional investors?
Yes it is peculiar. The open offer was approved by the old BoD along with a couple of other resolutions i.e name change, in preparation for the incoming BoD. Imho, it is likely that the new BoD wanted these issues dealt with prior to acquiring the shell and the open offer is to allow known contacts and associates to purchase a major holding which wasn't possible before because of the minimal freefloat...
Wow! This is definitely glad to know kvt! Really good :-)
Thank you kvt. Why do they need extra ¡ê10m? It's a bit strange that a company is offering twice more of its existing shares for so much money?
be glad to know ShatAim, that Acorn is main market listed and not the dreaded AIM :-)
Acorn is a clean cash shell with approx £3.6m cash and a freefloat of some 6.5 - 7.5m shares. They are currently in an open offer period and offering 66m shares @ 15p to interested sophisticated investors...
Sorry I mean kvt. Typo
Hi kev. How much cash do the company have? How many floating shares are out there? Thanks.
Mr. Graeme Scott Johnson serves as the President of Granite & Pine Investments. Mr. Johnson is employed at Kensington Investment Management, Inc. He is also Founder of Abu Dhabi Earth Observation Systems Limited. He served as Managing Director of Cordiant Capital Inc. He served as Managing Director at Kensington Capital Partners Limited, Deutsche Asset Management Inc. and Deutsche Bank AG, Investment Arm. He served as the Managing Director and Head of Europe in the Private Equity Funds Group at Deutsche Bank Group in London, U.K. While at Deutsche Bank, Mr. Johnson was responsible for private equity fundraising, structuring and investment activities in Europe and the Middle East. He served as Head of Business Development and Member of LGT Private Equity Investment Team at Castle Private Equity AG. Prior to being at Deutsche, he worked in similar capacities at Adveq Management AG and LGT Capital Partners and as a Director in the Private Equity Funds Group at AXA Investment Managers. Mr. Johnson served as a Director of Investment Banking at CIBC Wood Gundy Inc. and CIBC World Markets, Inc. He began his career as an Auditor with KPMG in Germany. For more than 15 years since graduation, he has lived, worked and invested on four continents as a private equity fund investor, co-investor and corporate executive. He serves as a Director of Abu Dhabi Earth Observation Systems Limited. He has been Director of Acorn Growth plc., since November 15, 2016. He has been an Independent Director of The Mint Corporation since July 05, 2014. Mr. Johnson is also a pro-bono Member of the Board of Directors of the Quebec City Conference as well as Co-President of its Global Investment Forum. He is a C.F.A. Mr. Johnson received an M.B.A. from the Harvard Business School in 1995 and a B.A. from the University of Western Ontario in 1991.
I wouldn't be surprised if Hofgren is planning on taking WHP public.. http://www.westlyhouse.com/index.html WHP has developed exceptional relationships with the leading global institutional investors in North America, Europe, Middle East and Asia – governments and sovereign wealth funds, pensions, financial institutions, insurance companies, corporates, endowments and foundations, funds of funds, gatekeepers and advisors, and family offices.
Nicholas W. Hofgren was born in Washington DC on February 7, 1970. Son of Daniel W. Hofgren,[1] former aide to President Richard M. Nixon and Alexandra Hofgren, daughter ofF.G Walton Smith, the Miami Oceanographer. He grew up in Washington DC and Bermuda before deciding he would like to pursue a career in finance. Hofgren has worked in international finance since 1989, working in North America, Latin America, Russia and the UK. He has dealt primarily in private equity partnerships, capital raising, investment and fundraising campaigns in the European Middle Eastern and African territories for various financial organisations including: JP Morgan Chase,Bank of America, Brunswick Capital Partners[2][3] and ALTA International. He is currently co-founder of Westly House Partnership, a privately held partnership providing capital raising support to private equity and real estate firms, a company he formed with Christopher Jackson in 2008. Can't be bad :-)
I reckon so, the new Directors have got pretty impressive CV's with some heavyweight financial institutions...everything to play for going forwards. Happy to top up this morning...gla
Up Up and Away Hopefully.
Property has been put forward as a possible,. Commodities were the previous objective and cannot be ruled out. Here is a third from the UAE - The Mint Corporation Graeme Scott Johnson one of the new Directors is on the Board of this Contactless Card Provider. http://themint.ae/about-us/
Topped up Yesterday and has been shown as Black Trade. Bloomberg Television and Newspaper Reports give totally opposite views on London Property Market, one says Tanking one says Promising so who is Correct only time will tell. That's me for today off for a Lunchtime Dip. GLA
Looks like its found the bottom, sold my 2 VCTs 31 oct but settlement date is 14 nov. Pleae stay at this level so I can top up, surprised it takes so long to sell VCTs in this day and age. Right off for a swim and a sauna HAND
Continuing, investors getting impatient I think, an Acorn has to be given time to Grow.
No need to apologise MUAS. Just relax and enjoy the ride..that ultimately will come. There have been some wild movements but I'm sure something will come up very soon.
We finished top of the riser board with a 3.88% rise for the day. And have not put our cards on the table yet. Looking Good for the future.
Forget second just gained top spot and we haven't got out of first gear yet.
But ACO is in second place on the Riser Board, and we have only risen 3.88%. Will be in top spot sooner than later one hopes with a proper rise.
My Profuse Apologies to Charles Goodfellow I was confusing him with another Goodfellow first name Robin who is indeed/was Chairman of a VCT, SORRY Polly1965 if it has caused any confusion. Should check facts before I post them ! Anyway off for a lunchtime swim and sauna
Typical ACO goes up half a penny on a small sell and bid increased too 14 Hmm ! Please don't go up have extra funds on the way for top up via 2 VCTs which I think Charles Goodfellow was on the board of one of the VCTs am selling , that is if its the same Charles Goodfellow think it might of been Proven VCT,