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Hi 72, The only information we have is the proposed reverse takeover of a multi media platform yet to be disclosed. While I remain optimistic about the outcome for shareholders, I can't help be a little underwhelmed with this, but until we have all the facts and confirmation wishful thinking remains.
Hi Trevally, Daft question I know, but do you have any expectations on what a stellar deal might mean shareprice wise. I am hoping for pounds rather than pence! Steve
Yep, it's been quite a wait. When this was all was about a main board listing, the sky seemed the limit especially with so few shares on issue. The reputation of Aim, which is justified, lowers the expectations somewhat, but they're good management here and I'm forever hopeful of a stellar deal for shareholders. Bring it on!
AGM on the 30th. I am expecting some news to tie in with this date, so either end of this week or start of next week. Hoping for big things here.
end of June?
we here something positive
PROPOSED ACQUISITION AND SUSPENSION OF TRADING IN THE COMPANY'S SHARES The board of directors of the Company has entered into an exclusivity period in regard to the possible acquisition of a social media platform ("Proposed Acquisition"). The Proposed Acquisition is conditional on the completion of legal due diligence and re-admission of the enlarged entity on AIM whereupon the Company's listing on the Main Market will be cancelled. The Proposed Acquisition, if completed, would constitute a reverse takeover under the Listing Rules. As the Company is currently unable to provide a full disclosure under Listing Rule 5.6.15, it has requested a suspension of trading in its shares with immediate effect. Both companies have now engaged advisors to rapidly progress the requisite due diligence and documentation to complete a reverse takeover transaction. The Board believes the target company, a peer to peer content sharing platform, has reached a very exciting stage of its development and is managed by a team of highly talented and innovative people. It is anticipated that the newly enlarged entity will be admitted to trading on AIM during Q2 2015. Whilst the board is resolute in its efforts to execute the Proposed Acquisition, no binding agreement has yet been reached and accordingly, the Board cannot at this stage guarantee its completion. Further announcements will be made in due course. So we're 2 months into suspension and the AGM is on 30th June. The above RNS states that it is hoped to admit the "newly enlarged entity" by the end of Q2-which I presume is end of June. So, will we get an announcement before the AGM?? Just asking what peeps think.GLA
http://www.forbes.com/sites/ilyapozin/2014/12/17/15-social-media-companies-to-watch-in-2015/ Steve
Always been a relatively quiet board compared to others I could mention. I think everyone is waiting now for the acquisition target news. With the AGM planned for the 30th, I am assuming news (hopefully very positive) will be released just before or maybe just after. After the disappointment of the cancellation of the main listing, some will no doubt be looking for something exceptional here. Lots have invested here due to the quality of the BoD and they are all still actively involved and are seeking reelection at the AGM. Hopefully they can bring home the bacon! Any ideas on possible targets? Steve
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Agreed, hopefully not long now. Steve
an RNS before end of JUNE, with a re list before end of JULY. Just a guess, hope this turns out well for us
Thanks Steve, not long then, don't want another WRN.
From RNS dated 22nd April 2015: "It is anticipated that the newly enlarged entity will be admitted to trading on AIM during Q2 2015." I think our financial year starts 1st January so, in theory, anytime before the end of June. Regards Steve
Anybody got a guess on timeframe here. Don't you get impatient when your money's frozen.
Well, I sincerely hope it does not follow the example set by Cleeve Capital. They re-listed today under the new ticker 'SAT' (not SSW) and are currently down 18.75%.! Hopefully we will have an altogether more positive experience! Time will tell I suppose. Regards Steve
Thanks. Will do.
Watch cleeve capital as it should come out of suspension very soon and will go live again as SSW. This will be an interesting one to watch as SSW will join AIM through a reverse takeover of cash shell cleeve so a very similar set up,
Does anyone have any experience of being in a share that is suspended pending RTO announcement details? I am thinking of putting a limit sell order on the shares I hold but really have no idea how to put any sort of valuation on this and do not have the experience of some on the BB. Would anyone be willing to share any thoughts? Regards Steve
Tinder was me making a joke about "peer to peer content sharing" lol
There certainly would be a time saving for the RTO instead of the hassle of an IPO, plus associated (minimal?) cost savings. Where did the tinder suggestion come from?...plenty of chatter on Google re. tinder valuation if you type in 'tinder company valuation'. Valuations seem to range from $0 to anywhere up to £5billion. Also appears that the ownership structure is extremely complicated. Steve
Guess we'll just have to wait. I can see why a rapidly growing young company would want the RTO route - earlier access to being listed. You need a track record of audited accounts as part of an AIM listing, which means a relatively new company has to wait a while before they can list on AIM. A RTO gives them a faster route to being listed. Just idle chat. All we can do is wait and see what the story is, we'll know soon enough.
Could be as it is relatively new also and doing well
Good question. Sorry, I got my MITHs and AUCTs confused earlier today! Peer to peer content … Tinder?
Consolidation/split makes absolutely zero difference to the maths. Owning one share in a company with 1,000 shares is the same as owning 1,000 shares in a company with 1,000,000 shares. It's a share (proportion), and that fractional ownership stays constant. A 10:1 consolidation means you end up with 1/10th the number of shares but each one is worth 10x what the pre-consolidation ones were.