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If you haven't done so, do go and read the full IPO document. It's much longer (sorry) than the corresponding RNS but contains a lot of very useful information. http://www.auctusgrowthplc.co.uk/wp-content/uploads/2014/07/Prospectus-Auctus-Growth-plc.pdf For example, there is this little snippet under B.3: "If the Acquisition has not been announced by the first anniversary of Admission, the Board will recommend to Shareholders that the Company continue to pursue an Acquisition for a further 12 months from the first anniversary of Admission or that the Company be wound up (in order to return capital to Shareholders to the extent assets are available). The Board’s recommendation will then be put to a Shareholder vote (from which the Directors will abstain)." In other words, this will either work and be a success (they find a target and do an RTO onto the main market), or else we get the cash back. Big upside, limited downside.
Okenia in a holder and hoping for some positive news soon. What was the initial placing price for AUCT? Presumably if no deal is done and company is wound up this would be what shareholders would receive?
Initial fundraising was at 50p. Take a bit off for the various costs involved and that gives you your current downside limit. However, these guys are top-notch, with excellent credentials and track record, and they haven't gone to all this effort just to walk away. But it's still nice to have a feel for the 'risk' side of the risk/reward thingy. "Auctus Growth PLC - Initial Public Offering 22 August 2014 Auctus Growth plc ("Auctus" or the "Company") is pleased to announce the results of its successful placing of 2,440,000 Ordinary Shares (the "Placing") to a list of professional investors and institutions and the initial public offering of its entire share capital, being 2,440,000 Ordinary Shares. Auctus has raised gross proceeds of £1,220,000. Auctus has been formed to undertake an acquisition of a target company or business. The Company's efforts in identifying a prospective target company or business will not be limited to a particular sector or geographic region. However, the Company expects to draw on the extensive experience of the Company's founders and its board in sourcing and successfully executing such transactions. The Company is targeting a significant deal; accordingly a listing on the Official List of the FCA, as opposed to a junior market, matches the future ambitions of the Company in terms of scale, quality and appreciation in shareholder value."
"The Company is targeting a significant deal; accordingly a listing on the Official List of the FCA, as opposed to a junior market, matches the future ambitions of the Company in terms of scale, quality and appreciation in shareholder value."
That's a pretty punchy statement!