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'Sells' entire position and then becomes more active than ever discussing the stock? something slightly suspicious about that. try and be a bit more subtle about the de ramping eh.. also happy for you to walk away. thanks
Well, I hear followers of this AIM-listed tiddler are on the cusp of receiving some hard news, some of which is likely to be quite unexpected. China Africa Resources - which is in the process of changing its name to Pembridge Resources - is poised to relaunch as an investment business under Rule 8 of the AIM rules for companies. An announcement could be made in the next few days, according to my industry sources. This might surprise some of the bulletin board punters, who have been expecting a reverse takeover announcement as it's the standard move for a cash shell and one that is generally required by AIM rules. Over the last few weeks David Linsley, the newish chief executive of China Africa Resources, has recruited a heavyweight team of mining specialists as directors or advisors and, according to sources, he wants to use their experience and network of contacts to make a series of mining investments. One person who has heard of his plans says Linsley - one of the founders of Cross Asset Management - is going to run Pembridge like a private equity firm, taking total control of the mining operations wherever it invests. AIM rules state that: "within six months of becoming an AIM Rule 15 cash shell, the AIM company must make an acquisition or acquisitions which constitutes a reverse takeover under rule 14. For the purposes of this rule only, becoming an investing company pursuant to rule 8 (including the associated raising of funds as specified in rule 8) will be treated as a reverse takeover.” Rule 8 states that: "where the applicant is an investing company, a condition of its admission is that it raises a minimum of £6 million in cash via an equity fundraising on, or immediately before, admission.” So, investors should expect an roadshow in the not too distant future... Tags: China Africa Resources, Pembridge Resources - See more at: https://www.betaville.co.uk/news/china-africa-resources-set-to-launch-as-an-investment-company-sources/#sthash.c43w2rAC.dpuf
You clearly do not know why they refer to DL & team as heavyweights
You are hardly going to short an AIM minnow like CAF and no, I'm not looking for a better buy-in price. I shall wait and see which way this goes and what they are going to do with the existing assets and what new assets they may acquire. I've been holding since 3rd January and the sharepice has done nothing so I'm quite happy to walk away for now. ATB
Remember you said that in 12 months time ! Beware the deranpers have arrived already . At least I've put my money where my mouth is !
Good luck shorting it then
Mindless optimism from the Janitor if you ask me.
Trying to get another low buy in there ART?
I suppose there will be a mighty spike if they are going to go down that route, followed by a very low priced placing. 2p max I would say.
Me too mate
I have no doubt this will be one of the best in the commodity sector & it has my full ISA placing !
Answering my own question here: "Jan 1, 2016 - AIM Rule 8 - Investing Companies. Following the changes, investing companies will now have to raise a minimum of £6 million in cash." Probably wouldn't get much above 2p for that amount. That's a lot for an AIM minnow.
Some strange ones today...lol atb
They will do this with new investors at a premium. Listen to the DL podcast and you will understand the quality they will bring for shareholders
Does it matter as you're out anyway ART?
Do they need to raise £6M to become an AIM Rule 8 investment company?
If you ask me the only attraction is that if the company goes down the Rule 8 route then they might not get suspended for months on end (and that would probably have been without an asset/RTO). Not sure what this may mean: "We continue to evaluate both the Botswanan copper investment and the Lithium project that management has inherited and will provide the market with an update once our review has been completed." though it could mean that because the current management didn't invest in these assets they may choose to get rid of them. New assets still need cash and I don't know how much cash they have. Also I'm not entirely sure what a Rule 8 investment company is either. All in all, after months of a subdued shareprice and the most persistent selling and Paul Johnson making a quick buck and leaving the board and selling out, and with a new team of "experts" who nobody has ever heard of who now may even dispose of the only assets the company has, I'm pleased to say I have disposed of my holding for now. I will be back if anything happens but at the moment this board is full of dreamers. Today's RNS was a nothing RNS too - name change - fine, change of address - fine, update - just waffle. ATB
at 2.9 happy days
lovely to see movement on a friday, finally name change on monday. can see this hitting 4p soon
To raise £6M they will place shares at what price do you think? Usually a discount which brings the SP down to that level or will they raise another way?
For those who have not seen it-------- 7 April 2017 China Africa Resources plc ("China Africa") Change of Name, Registered Address and Corporate Update China Africa Resources plc (LON:CAF), the AIM listed natural resource exploration and development company, announces that it has now completed the formal process of changing its name to Pembridge Resources plc (LON:PERE) (the "Company" or "Pembridge"). Dealings under the new name are expected to commence at 8.00 a.m. on 10 April 2017. The Company's website address will be www.pembridgeresouces.com with effect from today. The Company also announces that it has changed its registered address to: Suite A, 6 Honduras Street, London EC1Y 0TH with immediate effect. The Company has noted considerable speculation about its intentions and would like to take this opportunity to provide an update to its shareholders. The Directors believe that the mining, engineering and finance expertise it has acquired at a senior level since the management changes started on 17 February 2017 makes it well-placed to identify and potentially develop a number of projects which are currently under consideration. An option under consideration by the Board is for Pembridge to become an AIM Rule 8 Investing Company while maintaining the ability to complete a Reverse Takeover ("RTO") should an appropriate opportunity arise. David Linsley, Chief Executive Officer, said: "In a very short time we have put together a team that is highly experienced in developing producing, cash-flow generating assets. Through our exclusive network we have sourced a number of compelling projects and we are carrying out initial due diligence on these. Shareholders will appreciate that at this early stage we cannot reveal any specific details about these opportunities. We continue to evaluate both the Botswanan copper investment and the Lithium project that management has inherited and will provide the market with an update once our review has been completed. We are cognisant of the time constraints imposed on us by the stock exchange however we are confident that we will be able to move forward as either a Rule 8 Investing Company or on an RTO in the not too distant future" Shareholders should be aware that within six months of becoming an AIM Rule 15 cash shell (on 11 January 2017), the Company must make an acquisition or acquisitions which constitutes a reverse takeover under Rule 15 or face suspension from trading on AIM. The process of converting into a Rule 8 Investing Company will also satisfy the requirements of Rule 15.
Any news on a asset/ project yet?
News that they have a different way to get out of being a Rule 15 cash shell They'll convert to a Aim rule 8 investing company as per the new AIM rules. Very smart move - they basically are allowed to classify the fundraise as an RTO and survive that way. Very smart.
They have a lithium project = hot and shortly an investment or rto
MISS?!!! :)