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.
16th Jan 2023 7:00 am RNS Post Year End Operational Update
16 January 2023 - Aura Renewable Acquisitions plc, a UK-based company whose objective is to invest in the global renewable energy sector supply chain and thereby build shareholder value, is pleased to provide an update on progress for the period from the date of incorporation on 4 November 2021 through to 31 December 2022.
Aura was formed as a special-purpose acquisition company focusing on the Global Renewable Energy Sector Supply Chain, particularly on businesses in the wind, solar, biomass, hydropower, carbon capture, waste management, energy storage, smart grid and green hydrogen supply chain.
The Company raised gross proceeds of £1 million on admission to the Standard Segment of the Official List of the Financial Conduct Authority and to trading on the Main Market for listed securities of the London Stock Exchange in April 2022. As of 31 December 2022, the Company had an unaudited cash balance of £809,000, reflective of the minimal overhead base following the listing.
The Company has actively and selectively reviewed potential international acquisition targets since listing and at the same time the Board has taken soundings from the investor community to seek to best fit investment appetite with the opportunities available.
Amongst others, and by way of example, companies in the energy storage sector, developing next-generation battery technologies, have drawn the Company's attention. Batteries play an essential role in the energy sector supply chain, facilitating the transition to a net zero economy and a more sustainable environment.
Many countries, including the United States and the United Kingdom, have realised the importance of secure domestic supply chains and have introduced legislation, government grants and other incentives to support their battery industries - an example being the Inflation Reduction Act under the President Biden Administration.
Our investment horizon is relatively wide within our chosen sector, and we will continue to assess and qualify what we believe to be value accretive opportunities in the UK and overseas. When our ongoing evaluation and investigation result in the potential for a transaction, the Company will give the market appropriate notice.
The Company expects to announce its results for the period ended 31 December 2022 in early April 2023. ...
https://www.lse.co.uk/rns/ARA/post-year-end-operational-update-f1xlki1k79z5hfg.html
16th Jan 2023 7:00 am RNS Post Year End Operational Update
... John Croft, the Chairman of Aura commented:
"As we move further into our first full year of operation, Aura continues to explore a range of target acquisitions and investments which the Board considers could offer the potential for significant growth in this exciting, fast-moving and crucially important market sector.
"We expect supply chain, inflation and interest rate issues to be less of a dampening factor on corporate activity in 2023, and believe that capital market activity and fundraisings will slowly recover as the year progresses. Hostilities in Europe and further afield, the lingering impact of Covid, especially in China, are still causes for concern, as is the irrefutable and increasingly evident daily impact of climate change.
"As I have mentioned before, we are more confident than ever that the renewable energy sector will offer excellent opportunities for acquisitive and organic growth for the foreseeable future. We are striving to give the Company and its stakeholders the chance to share in these opportunities, not least to help in some small way to protect our planet for future generations."
Publication on website
A copy of this announcement is also available on the Company's website at http://www.aurarenewables.com.
https://www.lse.co.uk/rns/ARA/post-year-end-operational-update-f1xlki1k79z5hfg.html
Recent Share Trades for Aura Renew Acq (ARA)
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
16-Jan-23 12:30:56 5.97 15,000 Buy* 5.50 6.00 895.50 O
16-Jan-23 08:01:11 5.94 25,000 Buy* 5.50 6.00 1,485 O
16-Jan-23 08:00:06 5.80 40,000 Buy* 5.50 6.00 2,320 O
ARA has closed up 9.1% today, rising 0.5p to 6p.
Today's operation update from ARA is doubly reassuring:-
• The company has been active in pursuing potential acquisition targets, with international battery storage technology companies being particularly mentioned, with sounds exciting.
• The company is clearly husbanding its cash superbly for an intended acquisition.
The prospectus allocates £478K. cash for making an acquisition, and £350K. for general and administration costs.
But I would think that the £350K. will be used largely for due diligence and legal costs etc. for an acquisition, leaving the balance of £478K. to go towards the actual purchase price (combined with the issue of shares to the target company) and/or go to the cash resources of the expanded entity post RTO.
Even with today's rise, ARA's market cap. is still just £630K. at 6p, which is way below its cash, for an asset class (shells) that nearly always trade at a premium to cash.
And even though ARA looks a cut above the average shell.
Well done to ARA on such refreshingly good cash conservation.
From ARA's 5th. April 2022 prospectus:-
"The Company recorded an audited total comprehensive loss of £23,734 for the financial period ended on 30 November 2021 and as at 30 November 2021 had net assets of £26,266."
"Estimated Net Proceeds of the Placing and Subscription £828,000"
"On Admission, the Company will have an additional cash amount of £50,000 available for use in making an Acquisition, being the proceeds from the issues of shares in November 2021."
From today's ARA RNS:-
"As of 31 December 2022, the Company had an unaudited cash balance of GBP809,000, reflective of the minimal overhead base following the listing."
= Cash burn of c. £45K., 1.12.21 - 31.12.22, excluding the one-off IPO costs taken off the gross IPO placing proceeds.
From ARA's prospectus dated 5 April 2022, re all four directors:-
" ... not entitled to a fee until the first Acquisition has been completed, at which time his subsequent entitlement to a fee will be considered by the Nomination and Remuneration Committee. ..."
https://aurarenewables.com/investors/