The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
@professional - "ADV brings nothing to the table apart from access to capital via fundraise"
...apart from the £5m tax deduction allowance to roll over, which would be fairly attractive to a small revenue generator with unexpectedly increased profits this year due to oil price prices
Remote possibility of reverse takeover
Does anyone think there is any future here?
GLA
Just swung-by to see what's going on. It's been a while, but I see there is a flicker of hope - and that our resident troll has neither matured, nor gotten bored. Gotta give him props for persistence. Begs the question, how much money does one have to lose to get that much butt hurt?...
To date, with lack of updates, it really was all about whether you trust the (remaining) BoD or not.
After that interview, I trust them more, not less. Very humble in admitting they let the shareholders down (and not just boo we're sad).
Hé expects to do a deal. They need to do final discussions. CPR. DD. Etc etc.
I have done a lot of deals myself and they always take more time than expected and if the other party knows you are under timepressure they will use it against you
I "sold" a business in march and the Bayer just finished their DD. Singning should be soon and closing will take another month....
and I sold...shortest hold ever... hahaha
He DUD talk about closing one deal !
Listened to interview and hé said.... nothing...
Only thing new is that hé seems confident about timeline and there should be a deal before november.
Ok on the deal itself i still ADV brings nothing to the table apart from access to capital via fundraise.
I am now competely guessing / making things up but my best estimate is that they already know how big next fundraise will be roughly and that they have an institution ( same as participated now) and there own money ( which explains they now only did 80k) ready o they can get away with a 500% dilution.
Doesnt have to be bad if it is a good deal and you can increase your holding 5 times. Just a theory DYOR
Quick profit ahead of announcement on Monday
.
.
RNS is clear, this cash raise is to allow them to pursue deals and do the necessary paperwork. more raise will be needed to close the deal should we arrive at that juncture. might take a small punt.
---
"The net proceeds from the Placing and the Intended Director Participation, combined with the Company’s existing cash resources, are expected to provide the Company with sufficient working capital to enable it to select, negotiate and pursue an acquisition that would be considered a reverse takeover under the AIM Rules for Companies and specifically fund the required legal, financial, commercial and technical due diligence, including the preparation of the required Competent Persons Report and Admission Document to enable the Company to undertake an acquisition. Any cash consideration which might be payable to conclude an acquisition will require further funds. There is, however, no guarantee at this stage that any acquisition will be completed."
i got out at 4.2p on the 1st round but thinking of taking a punt now on the second round. 0.97p per share from MMs... hmm... sounds like 5MM shares to buy.... if only MM would drop it to 0.9p. or 0.8p.
Thanks for sharing the interview. We all have our views and all invested have taken a hit, but in my experience it’s when you take a position and add at the bottom that you have the potential to make some money back.
I'm of a different view Professional. The RNS part which is key for me is the following as in my mind they have now selected the acquisition target and hence they did this raise: 'combined with the Company's existing cash resources, are expected to provide the Company with sufficient working capital to enable it to select, negotiate and pursue an acquisition that would be considered a reverse takeover under the AIM Rules for Companies and specifically fund the required legal, financial, commercial and technical due diligence, including the preparation of the required Competent Persons Report and Admission Document to enable the Company to undertake an acquisition.'
Wow this fundraise is even worse then i expected.
They increase number of shares by 50% ( and could be 100% if warrants get excercised) and all they get is just enough money to keep the lights ( salaries) on and pay advisers....
If advisers do find a target i think they will need to raise again and it will be even more dilution. All IMHO DYOR
We all got it by the Buffalo, but Muscles you can't say that the board did not deliver on a deal, because they did do a deal, albeit one with a binary outcome which I and others here clearly knew. Leslie has gone and now in my mind Larry, Mark etc will hopefully deliver another deal but in this case a smaller production deal, very different from a non binary play.
I have just bought 2,000,000 to see what happens.
GLA
Bought some more. As mentioned before the upside from these levels should be good if you think as I do that Larry and Mark will deliver. Enough from me , time to wait patiently.
So st least Malay is endorsing the current board FOR WHAT ITS WORTH, but right now, I’ll take it
On 27 May we became a cash shell company and aim has rules on that as stated in the RNS from that day ( see below)
Basically there must be an awuiditiin or reverse takeover inside six months of this date (27 May)
:-
Look) views.
(Sharecast News) - Advance Energy announced on Friday that Carnarvon Petroleum Timor has chosen not to enter the next period of the TL-SO-T 19-14 production sharing contract on the Buffalo licence.
The AIM-traded firm said that as a result, the licence would lapse on 27 May, resulting in the company becoming an AIM Rule 15 cash shell.
"As an AIM Rule 15 cash shell, the company is required to make an acquisition, or acquisitions, which constitutes a reverse takeover under AIM Rule 14 within six months from 27 May," the board said in its statement.
"Alternatively, within such a time period, the company can seek to become an investing company pursuant to AIM Rule 8, which requires the raising of at least £6m and publication of an admission document."
Advance Energy said it was evaluating a number of oil and gas opportunities, with an "emphasis on materiality and cash flow generation", in line with its stated strategy.
"Further announcements will be made as and when appropriate."
At 1037 BST, shares in Advance Energy were down 24.32% at 0.14p.
he know that Larry and Mark are very smart guys https://www.malcysblog.com/2022/07/oil-price-genel-san-leon-union-jack-rockhopper-advance-and-finally/