Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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on the media site?
not sure yet how this is going to work re-RTO Listing on AIM? we could see share consolidation? Presuming and hoping we will re list at a premium of current SP, that's what I've been waiting for any how.
I guess the other point we could discuss is "why RTO". Why would an unlisted company want to use the RTO route to get listed on AIM as opposed to just going for a direct admission? Answers on a postcard please, just to keep the BB ticking over :)
Not a lot to talk about really. Well known and respected BOD. Reasonably priced shell (judged on premium to net cash). Sensible RTO strategy. Not really much more to say except it's a solid looking shell doing a RTO at a reasonable price. If you want to compare it with other shells then Sefton is an interesting one - it likewise is reversing some asset into a now-clean shell. Except the SP is a massive premium (many times) to the cash position, which means shareholders will get hammered. KUL is also a bit expensive compared to the cash position. MITH is probably the nearest currently to AUCT although AUCT has a much more credible BOD for natural resources (fortunately MITH has gone for some social media company to RTO). There is one annoyance here and that is the proposed re-listing on AIM not the main market (one assumes because the target company didn't want the heavier burden of a main listing).
This was always a quiet board. There are a few holding though, just waiting for news now on who the target is and the detail of what they actually do. I agree it is exciting and am hoping for a good rise on readmission. I expect no more than a couple of months to sort the RTO out.
Yes, very quiet here. Disappointed to note we are listing on AIM but nowt we can do about that now. When VIY was suspended with reverse takeover as NIPT it took a few months, from memory, so possibly same time scale here? Who knows. Could still be very exciting though!! GLA
... But it's very quiet. Surprised how few are in here. Wren has been in top chat for 6 months in suspension. Is any body out there?? :-) I'm positive here for a positive outcome
I don't suppose they can say much while the current work is being undertaken. I wouldn't take that as a negative! Steve
Not excited
From company at this time ? Excited that tbh
Thanks
rainger@agam.co.uk - taken from the IPO RNS. I have always found Ross to be prompt, courteous and professional, however, given the last RNS, I expect the team are flat out with the RTO progression. Steve
could someone please post his email, I'd like to ask a question myself re- leaving main market
Hello s72. Been waiting for this one. Therefore disappointed in the goal post shift. It doesn't matter what is said as there cannot be Rampers nor derampers now.... But the whole attraction to me was the rare RTO to main listing ....that companies would pay a premium for...they obviously could not attract a suitable candidate ergo default to AIM level .....premier league to league one...l Does any one know of a peer to peer social media entity flying under the radar....midget dating site perhaps?? It's now basically a start up on AIM but circa 50p... #disappointed.
Hi VVB, Good to see you are still holding. The change from main market listing to AIM listing threw me as it appeared to contradict content in the prospectus. However, The BoD were targeting a significant acquisition and it would appear that progress is being made on that front as we all hoped. Costs appear under control. The BoD remain the same and this was a major reason for my initial investment. In summary, the BoD seem to have things well under control and we are progressing. I can only assume therefore that there is a legitimate reason why a listing on AIM would be more beneficial for this particular acquisition target. I did read a similar release for another share (can't remember which) so perhaps this is not unusual. I am sure all will become clear eventually. All in all, a very positive RNS. Let's see what the future brings. Any thoughts on the target? Regards Steve
"will be admitted to trading on AIM during Q2 2015" As we are a nearly 1/3rd way through Q2, anyone think this is a mistake, just seems far to fast compared to the history of my PF.
I'm not deramping as I've been waiting for this for months..... His previous comment was something like kudos will be gained on the deal... What kudos is there in leaving main listing to aim? More AIM boll.ocks... "Ste, Thank you for your email and continued enthusiastic support of Auctus. There's no further comment from the company at this time. Kind regards Ross"
whoa there ! did i feck spot that ! ive emailed Ross but has anyone has a response re this? main listing fecked off and AIM?? that goes against their previous emails ! Firstly you are correct, Auctus is listed on the main market of the London Stock Exchange as a standard listing. We incorporated the company during May this year and have spent the past four months raising funds and working with the listing authority (FCA) in the build up to the IPO on 22 August 2014. As it stands Auctus is a cash shell funded with GBP 1.22m as at the date of the IPO (of which GBP 250k was invested by the Auctus founders). The plan going forward is to seek out an attractive private company or business which the board view as a high quality growth opportunity. In terms of the type of opportunity Auctus is not limited to any sector nor does it have any have any geographic constraints which gives the board flexibility in deal selection. Once the target has been selected Auctus will likely conduct a reverse takeover transaction. and Thanks Ross, very interesting - so the RTO (like VIY recently did) means that a company can get onto the main listing at a fraction of the cost as we are already on there. The cost / speed to market is certainly a factor, also the listing process isn't entirely straightforward so we've removed the headache of understanding the process, dealing with the regulator, sourcing service providers & negotiating fees for those services etc. I hope this helps and feel free to email anytime. Kind regards Ross
Doom and gloomerchamta appearing Rather silly people who de ramp a suspended share hoping to get in lower on a re list Shame they missed it :-) Good luck to all those invested We should see a good re rate on re list
after being in then out previously. It's been a long wait, hope it bears fruit on relisting. We knew they were looking for an RTO, now we have one, think it was princess Kim who thought May, wasn't far off!
That's the issue that's concerning me - the main listing is to be cancelled and the new entity listed as an AIM company. This seems to be giving up a huge 'plus' of AUCT, and I'm not yet sure why.
Fair question Steve, don't know the answer to that, can't imagine a typo on such an important RNS. Any thoughts out there?
Congrats Okenia, this was always the scenario holders were waiting for. I had been sitting in this for some time. Amazingly I jumped out of this temporarily to invest elsewhere- rookie mistake. Now watching with interest from the sidelines.
Very funny!! The whole business was set up to do a RTO. To do a RTO you need to suspend then readmit the new company. It was 100% known in advance that this would temporarily suspend, that's what the rules require. If you didn't know that would happen ...
This isn't going to be some dud start up tech. I'll try and do some digging later, don't forget it's got to be worthy of a main listing.