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A New Zealand-based supplier of upmarket mixers that is aiming to establish itself as a global No 2 to Fever-Tree Drinks is set to list on Aim with a market value of £30 million.
East Imperial, founded in 2012 by Tony Burt, a former chief executive of M&C Saatchi New Zealand, is listing by means of a reverse takeover of Bermele, a cash shell, in which Burt, 50, will emerge with a 21.4 per cent stake.
Alongside the listing, East Imperial, which is being advised by Optiva Securities, a boutique broker, will raise £3 million of new funds through a placing of 30 million shares at 10p a share to finance its growth ambitions.
It is due any day, likely just the regulator holding it up.
Aberdeenman
So, we think perhaps in July? August?
I was thinking next week.
Aberdeenman
...well that would be good. Been a long time, locked in.
Any thoughts on mcap upon relist?
Looks like a 30m market cap, and a 10:1 consolidation, so effectively 1p a share on relist.
But with it being main market hopefully, we shall see some buy in, the placing was oversubscribed, so demand there.
Not long now ;-)
Aberdeenman
Aberdeenman
There are currently 222m shares, and suspension price was around 0.75p? Giving a current suspended market cap of £1.67m.
We don’t know what the placing price was although it has been oversubscribed, and it was to raise £3m by way of 30m new shares. The Times article 2nd June 2021 highlighted around 10p per share which equates correctly to the placing.
How are you then working out a consolidation of 10:1 (has this been indicated anywhere?) based on 222m old shares plus 30m new shares and coming to a price of 1p on relist?
thank you.
Countingcards, as per the admission document, market cap after listing is 29.9m, so I was a teeny bit out, 10:1 consolidation.
33.33% premium to closing on suspension, but hopefully we see an immediate rise, as the company is producing, and by the looks of it going for rapid expansion.
I will hold onto my shares, could be a very smart move, and although I have a chunk of these 7 figures in shares currently, it is not enough to make a dent, but give it a few years and it could be a very tidy sum.
Aberdeenman
10:1 consolidation confirmed via message from AJ Bell