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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.
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?
AAA now raising £1.26M @ 1p per share for investment and working capital purposes.
EGM 30th April 2020.
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.
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.
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
AAA today paying 70p for 1.2M newly issued ASLR shares - consideration £840K.
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.
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?
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?
AAA buys into ASLR:
https://www.lse.co.uk/rns/AAA/investment-in-warrants-in-asimilar-group-plc-xutwtrcplha68e4.html
Jens Zimmerman ceased to be a director of Mesh Holdings on 2nd March 2020, although only registered at Companies House today.
He has been deleted from the Mesh Holdings website, although no formal announcement has been made.
https://beta.companieshouse.gov.uk/company/03904514/filing-history
They also appear to have got their share allotments slightly mixed up.
Matters appear to be plodding along, notwithstanding the turmoil in the markets and elsewhere.
Looks like highest price to date paid for these "suspended" shares 1.1m @ 55p!
Looks to me like subject to EGM
ASLR acquires 10,000 S shares @ E750 for E7,500,000 or £6.6M giving 9.5%
ASLR Option 1 to purchase 32,250 S shares @ E650 for E20,962,500 or £18.5M
ASLR Option 2 to purchase 10,000 S shares @ E750 for E7,500,000 or £6.6M
Total enlarged share holding to ASLR 52,250 35.9%
MESH presently hold 16,333 S shares or 16.8%
MESH Option to purchase 48,337 shares @ E650 upto 30/6/20 for £26.2M giving 47.7%
MESH First Refusal 6,667 shares from RRNB @ E750
Ultimate MESH enlarged holding 71,337 52.2%
Total ASLR MESH holdings 123,587 or 88.1% of enlarged S capital.
Total S shares in issue then appears will be 140,000 @ E750 gives a present value to ASLR and MESH of E105M or £93M.
Clearly ASLR needs to raise further significant funds. I wonder what the price of that will be?
"The Placing, which was significantly oversubscribed" @ 60p raised £7.5M to buy a 9.3% stake in Sentiance.
Warrants at 130p.
Quite something to get this away in the face of one of the worst markets ever.
Gives some hope that we wont crash wherever we relist.
I'm guessing that Asimilar and Mesh are intending to buy/acquire the majority of the Sentiance shares in issue, maybe around 90%, if you take the two totals together and then use Asimilar as the vehicle to list on the LSE.
It appears they'll both have to raise quite a bit of £ in order to do that.
Maybe MESH wasn't the right vehicle due to the involvement of Bonnier and the previous CEO, which is what The Times' article appeared to be hinting at.
But yes they appear to be closely coordinated.
I guess we'll just have to sit tight and hope that falling markets don't scupper matters.
Hopefully we'll know more in a couple of months.
Simultaneous MESH rns this morning outlining plans to also increase their stake in Sentiance to around 45%
If both attempts are successful, surely this would pave the way for some sort of merger by ASLR and MESH?
The coordination of today’s RNS does not suggest they are competing against each other - if I’m interpreting correctly?!!!
And the buying goes on... at higher levels. If thinking is same as in MESH then this relists closer to £1. Anyone long this?
Rory O'Sullivan was appointed non-exec board director of Mesh Holdings on 20th of January, probably not a coincidence.
And today we have Rory O'Sullivan joining the shareholder register with 5,250,000 shares or 4.98%. He crossed the threshold on 20 January 2020 (around the same time as Mirador), but only notified yesterday.
I guess this is he -
Managing Director at Pagemill Partners, A Division of Duff & Phelps
M&A adviser and investment banker to the technology sector. Laser focused on maximising value for technology entrepreneurs and their investors, and providing strategic insight, access to capital and advice. Successfully led over 50 transactions valued at over $5 billion, now building one of the leading technology advisory practices in Europe.
https://www.linkedin.com/in/rosullivan/?originalSubdomain=uk
Getting to be quite an interesting line up of investors in Asimilar plc.
I wonder what the share price would have been had these made timely disclosures prior to suspension - and of course prior to Covid19?
And a small £470K investment in around 5% of SeeQuestor - looks interesting.
https://www.seequestor.com/#/home
Markets collapsing again today, lucky we are suspended (lucky for now, that is).
ABOUT Peter Antonioni
Peter is a Kilkenomics regular and co-author of Economics for Dummies. He was educated at Pembroke College, Oxford and Birkbeck College, London. He is currently a lecturer in management at University College, London. Peter’s research interests are diverse and include the football transfer market, the process of enterprise in technology markets and the techniques and practice of the arcane field of long-range scenario planning.
Interesting RNS's today.
Mr Peter Antonioni as of 20th February 2020 holds 5.47% or 5,767,850 shares.
Is it this Peter Antonioni?
https://www.mgmt.ucl.ac.uk/people/peterantonioni
As of 22 January 2020 Mirador FZE of UAE holds 10,000,000 or 9.49% and who also happen to have been involved in financing MESH Holdings plc. They didn't notify the company until 25 February 2020 - tut tut.
Presumably they may have accounted for many of the large trades around January time for which we have never had any significant RNS's - although Chris Ackers and Nigel Wray reduced by a total of around 2% about that time.
If these were Mirador's trades then they were buying anywhere around 44p to 51p at that time.
Subsequently on 27th January Mrs D J Horrocks sold around 0.5%, so there may be other RNS's due.
If shares are still changing hands off market then matters must be moving forwards.
Updated shareholder profile today -
http://www.asimilargroup.com/content/investors/shareholder_profile.asp
Chunky holdings amount to 41.29%.
Could be interesting when this relists.
I'm not sure.
Can shares still be traded off book when they are suspended - it would sort of defeat the object of suspension if that were to be the case, although I suppose the authorities could not prevent you from agreeing to trade immediately following the listing of suspension?
I had assumed it was a late booked trade form the last day of trading - but I would agree a bullish sign.
In fact it has always amazed me the number and size of trades in Asimilar over the last couple of months, really chunky in terms of value but hardly ever an RNS relating to the trades.
Also interesting that MESH cancelled their JP Jenkins facility on 18th February - akin to suspension - and fired their PR and adviser.
But if their shareholders were going to swap their shares for shares in Asimilar then they wouldn't need those advisers or that facility going forwards.
Is this an off book trade? Someone is bullish.