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AAA buys into ASLR:
https://www.lse.co.uk/rns/AAA/investment-in-warrants-in-asimilar-group-plc-xutwtrcplha68e4.html
Chris Akers has taken a 14.94% stake in AAA as part of the transaction, further options at 0.4p, AAA to be ASLR Mk2?
Missed all the fun there!
Q - why make the investment in this manner? Why not directly into ASLR?
Could it be for tax reasons - AAA is registered in BVI and not E&W?
It could be partly down to tax reasons yes but I think it’s most likely down to the fact Akers doesn’t have to part with any money to build his stake, great business if you can get it! AAA take his warrants for a cash consideration which then allows him to take the same amount in AAA and build a significant interest in the next venture ‘for free’. Obviously he put the whole YOLO/ASLR band together and deserves his cut, I believe this is it. He would need funds to convert his warrants so why not sell them to another vehicle he’s involved in which also makes them money and means he doesn’t have to use his own funds? This allows him to take a sizeable stake in the next venture where he is most likely looking to replicate the success? The structure is very similar, Insti’s loading up prior to things materialising, if you take a look at the TR1’s you will even see the same insti is involved with AAA that was involved with YOLO before things kicked off... Gledhow Investments! Hence I’m hoping for an ASLR Mk2. Only time will tell.
AAA today paying 70p for 1.2M newly issued ASLR shares - consideration £840K.
1.2M trades just shown up (notwithstanding suspension) at precisely half the amount paid by AAA for their 1.2M shares.
Someone doing a quick, and very lucrative turn?
If nothing else the AAA/ASLR/MESH/Sentiance manoevering kills the lock down boredom.
31-Mar-20 13:03:27 35.00 17,143 Unknown* 0.00 0.00 6,000 O
31-Mar-20 13:02:52 35.00 40,000 Unknown* 0.00 0.00 14.00k O
31-Mar-20 13:01:29 35.00 142,857 Unknown* 0.00 0.00 50.00k O
31-Mar-20 13:00:48 35.00 142,857 Unknown* 0.00 0.00 50.00k O
31-Mar-20 12:59:55 35.00 285,714 Unknown* 0.00 0.00 100.00k O
31-Mar-20 12:59:28 35.00 571,429 Unknown* 0.00 0.00 200.00k
Things appear to be moving along quite nicely.
Our "partner" Mesh holdings has the following directors
Lindsay Mair
Kieth Anderson
Michael Power
https://beta.companieshouse.gov.uk/company/03904514/officers
Anderson and Power have no other directorships showing at Companies House (they probably do have but just not showing), Mair has one other HGC Investco 1 Limited appointed 25th March 2020
https://beta.companieshouse.gov.uk/officers/_UVhIRFvNiFf08-Mb8ia6uNKpBY/appointments
HGC 1 appointed Mike Power (note not Michael) as director on 30th March 2020, and also have appointed same management company as MESH
https://beta.companieshouse.gov.uk/company/11602446/filing-history
Monchhichi Plc own all the shares in HGC 1. Monchhichi Plc was placed in liquidation on 20th November 2019, but is not insolvent and does have net cash.
Monchhichi Plc was suspended in 2017 at 39p, but shares have recently been issued and bought at 75p-80p.
Thing is in a BB post in november 2018 someone refers to Monchhichi Plc having a stake in Sentiance.
https://uk.advfn.com/cmn/fbb/thread.php3?id=43400019
Monchhichi PLC could have a significant stake in Sentiance
https://www.morningstar.co.uk/uk/news/AN_1516898937474136600/monchhichi-to-increase-sentiance-investment-as-aim-cancellation-looms-(alliss).aspx
This activity together with all the goings on at AAA suggests matters are moving towards a conclusion and ducks are being placed in rows as regards Sentiance, and all the smaller shareholdings being collected together.
Not clear who the Monchhichi PLC shareholders are, presumably quite a few pi's in there.
Bit more research - Monchhichi PLC shareholders have already swapped their shares for shares in High Growth Capital which then became MESH Holdings.
So it looks like a tidying up exercise - but with AAA also getting active at the end of March we could be approaching the end game for AAA/ASLR/MESH/Sentiance.
AAA now raising £1.26M @ 1p per share for investment and working capital purposes.
EGM 30th April 2020.
Interesting more "trades" showing up on ASLR this morning at the "new2 price of 70p!
16-Apr-20 08:26:09 70.00 316,964 Unknown* 0.00 0.00 221.87k O
16-Apr-20 08:25:29 70.00 49,107 Unknown* 0.00 0.00 34.37k O
16-Apr-20 08:24:28 70.00 402,679 Unknown* 0.00 0.00 281.88k O
16-Apr-20 08:23:31 70.00 388,393 Unknown* 0.00 0.00 271.88k O
16-Apr-20 08:21:31 70.00 271,428 Unknown* 0.00 0.00 190.00k O
AAA also seems a bit spiky today up 45% to around 1.525p with a number of large block trades going through.
Some adjustments going on in the background?
Yes - very interesting.
Filed by Peter Antonioni the founder and sole shareholder of 192 Pte Limited.
192 Pte now has 14.5% of AAA.
Peter Antonioni is of course a 5.47% shareholder in ASLR having acquired his interest on 24th February 2020, at least in part from other major shareholders including Chris Ackers who is also involved in AAA.
Maybe coincidence, but one of MESH Holdings directors also has an address in Singapore.
https://beta.companieshouse.gov.uk/officers/XJvJufaRaV3us9mveU1Lm5yvUMQ/appointments
At least things appear to be moving along, although quite what all this game of musical shareholdings means I'm not quite sure. They obviously intend to make money out of it all - maybe some profits offshore via AAA so not liable to UK tax? I think AAA is Cayman Islands? No coincidence that shares in ASLR transferred this morning, notwithstanding the suspension.
Clearly they can only make real money if Sentiance reverses into ASLR and MESH and gets listed via ASLR, so hopefully these are signs they are progressing with that.
My main worry is that we may run out of time viz our 6 months, but we have around 4 months to go yet and hopefully COVID19 won't put the skids under that.
I wonder what the intended listing price will be - certainly not less than 70p, possibly quite a bit more.
Further RNS's on AAA today.
Gledhow Investments reduced 3.21% to below 3%
P3 Capital reduced 4% to below 3%
Flare Captal reduced 3.94% to below 3%
All on 16-4-2020
On 3-4-2020 Chris Ackers reduced 14.945 to 11.30% = 3.64%
The aforementioned 3 companies all share the same registered office address, and share some directors, so obviously all working together. If they've reduced to 0% then their holdings taken together with Chris Ackers 3.64% amount to 14.79%.
They also appear to be linked to Peterhouse Capital which is the broker for AAA and also similarly associated with ASLR.
Almost exactly the same as taken by Peter Antonioni with his 14.5% or 100m in AAA on 16-4-2020.
The shares transferred in ASLR on the same date @70p amounted to exactly £1 million. Transferred to a single person or multiple people?
Well I like round numbers.
AAA are raising £1.26M as announced on 3-4-2020 by issuing 126M shares which sets a benchmark of 1p, notwithstanding the fluctuations of the share price.
So it could be that on 16-4-2020 Peter Antonioni sold £1million shares in ASLR, and bought 100M shares in offshore AAA @ 1p. Maybe the shares were even swapped so Peterhouse Capital or associates now own those ASLR shares.
Not sure exactly where this goes but it appears that the "goodies" are being spread around all the movers and shakers involved in ASLR so as to ensure that everyone gets a slice of the pie when the RTO actually takes place.
Hopefully it is a good omen.
Interesting RNS from AAA this morning.
They announced a fundraising on 3-4-20 with an EGM on 30-4-20 raising £1.26M @ 1p, with 1 warrant for every 3 shares @ 1p but no circular was ever published. That £1.26M was to be for working capital and certain unspecified tech ventures.
Their principal asset is 1.13% of ASLR and some warrants in ASLR.
Now (28-4-20) they say 192 Pte Ltd, a 14.5% shareholder in AAA, proposes raising a lower unspecified amount but at 1.5p, with warrants at 2p. The original funders won't lose out as they'll still get warrants - but at 2p!
The market seems to like this news as the AAA shares are up 6%. AAA say they are considering matters.
192 Pte Ltd is of course Peter Antonioni (of UCL and "Economics for Dummies") a 5.7% shareholder in ASLR. He appears to have got those shares around the time of the January placing, at 40p.
Subsequently he took his 14.5% stake in AAA on 16-4-20 buying 100M shares @ 1p for £1M (the sellers were companies associated with Peterhouse, broker to both companies and PIRI, and they'd got them at 0.1p a few months earlier). That same day £1M shares were sold in ASLR @ 70p - see my post that day - presumably by Peter Antonioni - or maybe simply swapped with the Peterhouse companies.
So it looks like Peter Antonioni buys into AAA, and then seeks to upset the apple cart when it comes to the fundraising at 1p. I'm sure the original proposed placees won't be too happy at having to pay 100% more.
And where might he get the cash to buy another circa £1M of AAA - well maybe from a sale of some of his ASLR shares again bearing in mind that the latest conditional placing was significantly oversubscribed at 60p, with warrants at 130p.
Is he seeking to offshore a greater proportion of his anticipated profits from ASLR, as AAA is registered somewhere like the BVI?
Difficult to see how the AAA board could refuse his offer when it is priced 50% to 100% above the existing proposal.
And then PIRI (totally unconnected) propose a £1.060M fundraising on 24-4-20 for investments in certain unspecified tech ventures. That fundraising would involve Chris Ackers putting forward about a third of those funds.
Could the PIRI fundraising be an alternative way of Chris Ackers further investing cheaply in ASLR, in the event that 192 Pte Ltd corners the market in the issue of shares by AAA? He obviously doesn't want to pay 100% more.
Chris Ackers still appears interested in investing directly in ASLR @ 60p and 130p, per the latest ASLR placing, but using cheap PIRI shares could be a way of getting in cheaper if his subscription in AAA @ 1p is knocked back in favour of 192 Pte Ltd's offer of 1.5p.
If so, then it means that the ASLR acquisition of Sentiance is moving forwards, slowly.
Is AAA into buying ASLR because of value perceived in Sentiance ? Another company MESH also has an interest in Sentiance, though MESH got ejected from NEX exchange a while ago, and since then their poorly ran company has led them into a News Vacuum (though not too dissimilar to the one that ASLR is having now). Why not AAA just buy MESH as they have an 80.1% purchase option on Sentiance.
Hi gb,
If you read back through the history ASLR and Mesh now seem to be acting in tandem, although their interests may not actually be exactly aligned.
ASLR presently have options to acquire around 35% of the Sentiance enlarged capital, MESH around 55%, the remaining 10% being directors, employees etc.
Both have stakes at present, I think ASLR 7% (from memory), MESH 16%, but both need to raise big money to move forwards and exercise the options.
MESH appears to have been the original preferred vehicle but that allegedly had problems with the FCA due to the involvement of Robert Bonnier, or at least his missus, as she is a major shareholder in MESH. Bonnier got into a mess many years ago over allegedly lying in RNS's (there was a story in The Times in January 2020) and has been persona non grata ever since so far as the FCA are concerned. His associates have now been booted out of MESH, but presumably she is still a shareholder. The FCA, I think, won't allow MESH to be used as the vehicle to float Sentiance, with the Bonniers involved and her holding shares.
https://www.thetimes.co.uk/article/dotcom-financier-robert-bonnier-linked-with-sentiance-bid-6ljrwkcg6
Enter, stage left, ASLR.
So I think ASLR will be the vehicle actually used to list Sentiance, with MESH somehow piggy backing on the float.
I'm not sure how much Sentiance is expected to be worth, but there appear to be quite a few people scrambling for the spoils already via ASLR (and possibly AAA and now PIRI) so it must be expected to be worth quite a bit.
MESH need to hold an AGM by 30th June so there may be some news from them soon.
Last year YOLO's H1 report was 30-4-19 so we may get ASLR's H1 on Thursday.
Whatever is going on there appears quite a few people keen to gain an interest in ASLR shares and warrants at 130p - and one of the original fundings had warrants exercisable at 130p if the shares went above 280p! for 5 days.
Hopefully all can be concluded by mid August as our 6 month suspension is up then :-(
But these fund raisings by AAA and PIRI may mean progress of sorts, although there is no guarantee that the raisings will be used to invest in ASLR , although I suspect that they may be used as a means of gaining a semi detached interest in ASLR and Sentiance.
Here's hoping.
Good work skittish, you’ve done a lot of research. Saves me reading all the RNS’s. That’s an intriguing story about this Bonnier. There does appear to be some synergy across the whole plethora of companies making a play for Sentiance in your list. Namely Chris Akers, all these companies originally were smallcap players, suddenly revitalised interest with the same objective. Sounds like Sentiance is not just an ordinary prize, Intrigued.
SGV looks like the city is taking the investors for a ride
I don’t believe so. The previous poster has joined this week with the sole purpose of discrediting Akers and these deals. His information is incorrect and misleading. Sentiance was featured by Deloitte in their fastest growing tech companies report and has revenues estimated at $5m, although nobody is privy to the actual number as they are a private company. Let’s just wait and see how this all plays out.
We should get some definite news by the end of June.
MESH need to hold an AGM by then and their options in Sentiance are only valid from 23rd March to 30th June 2020. So they will either expire or be extended.
Both MESH and ASLR need to raise quite a bit to be able to exercise their respective options, both around the £30 million mark to exercise all of them.
ALSR announced a conditional raise of £7.5m in March, but nothing since.
The recent AAA news on funding suggests the deal is still going ahead, otherwise there would be no point in fighting over it.
I guess COVID may be delaying matters, but everything I read suggests that tech will be one of the eventual big winners from the COVID situation which will accelerate existing trends.
Fingers crossed.
Its hard to imagine how either mesh or ASLR could possibly raise a smile at the moment with the potential global money issues. What is interesting is what would compel an investor to pump funds into either, Mesh looks like it is more investible as it actually owns a % of Sentiance and their story has been panning out since the days of Monchichi for 3 years. No doubt they must have a pretty good plan of what to do with their ownership of Sentiance. ASLR looks like a new play, are they working against Monchichi's plans ? How can 2 companies compete for teh same space, an equal holding - unless their ideas are in alignment with one another. Any investor would surely want both parts of the options. ASLR being public listed is on the face of it transparent compared to Mesh, and furthermore would give a route straight to the market. Something that Mesh has failed to capitalise on in almost 3 years promoting Sentiance. What Sentiance really worth anyway ?
I don't know what Sentiance is worth because no one outside a fairly tight circle is privy to that information.
As to MESH and ASLR completing - I don't think so. I think they are working to the same end - listing Sentiance - although their interests may not always be exactly aligned.
Consider this.
John Edward Taylor was appointed a director of Asimilar (then Yolo) on 3rd December 2019 just after Chris Ackers took an interest and the share price started to take off.
Lindsay Mair was appointed a director of MESH Holdings on 20th January 2020 .
But somewhat earlier than that both John Taylor and Lindsay Mair created and were appointed directors of a company known as Low 6 Security Trustee Limited on 22nd November 2019.
https://beta.companieshouse.gov.uk/company/12328115/officers
Quite why they should do this I'm not sure - I am sure there is a reason and a plan - but there are certainly links between the two companies suggesting they are working in tandem. And owning 50% each of a joint company suggests JT and EM are working together not against each other.
I don't doubt that raising £30m a piece is something of a tall order in present circumstances, however there have been numerous fundraisings by many companies in recent weeks. It is simply a question of terms.
My main concern presently is not the funding per se but that time is limited.
Opportunity deadlines have been consistently missed by mesh and it’s predecessor namesakes, so seeing another deal date pass wouldn’t be a surprise. What is surprising is that Sentiance don’t appear to have any other suitors lined up. For either co. Another 2 months waiting on a Binary yes no decision is very poor comms indeed, 2 months feels like a lifetime in these volatile markets.
ASLR 'had' quite a healthy Mcap, prior to going into suspension, for a company that in reality only owns a small percentage of a UK based Karaoke company "Roxi". Granted ASLR has an option to purchase a stake in Sentiance, however the off-book trading at 70 odd pence doesn't suggest that funding isn't looking too good. Who would unload their shares pending such great news. Where is the transparency on this and who wanted out ? The question is will this share comeback to trade or will they let the suspension continue ad-nauseum until they delist after all its already been "a-similar" ride for mesh share holders.
On the face of it the off book sells at 70p would not necessarily bode well.
However if you add up the 5 trades listed on LSE they come to exactly £1M and those trades took place on 16th April 2020.
We don't know who sold those - but on that same day Peter Antonini (who is/was a 5.47% shareholder in ASLR) bought 100,000,000 shares in AAA at 1p - total value exactly £1M via his 192 Pte Ltd vehicle.
AAA in turn has a shares and options in ASLR.
It isn't beyond the bounds of reason to suggest that Peter Antonini sold/swapped £1M shares in ASLR for the equivalent value of shares in offshore vehicle AAA, whose major asset is its stake in ASLR.
Subsequent to that he has thrown a spanner in the works concerning a further fund raise by AAA (supported by Chris Ackers) which was to be at 1p and 1/3 warrants at 1p - by offering to pay 1.5p for the shares and have warrants at 2p!
If you read back through the posts I did highlight this some time ago.
Now I don't pretend to know what is going on because you only get glimpses of the behind the scenes movements, but if ASLR is a complete pup then why put money in in the first place just before suspension, and then seek to pay 50%/100% more than Chris Ackers for an interest in AAA whose main asset is shares in ASLR?
AAA is "considering" his proposal.
And I guess Peter Antonini is no slouch when it comes to financing because he is a Senior Teaching Fellow at UCL and wrote "Economics for Dummies", "Macroeconomics for Dummies" and "Microeconomics for Dummies".
So I would think he knows what he is doing in seeking to build a stakes in ASLR and AAA.
More so than me, anyway.