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Reece, yes there should be news very soon, as the option for buying, being first in the queue runs out on the 30th June, so yes they are cutting it fine! See the announcement MESH made on the 4th March 2020 https://www.meshholdings.net/wp-content/uploads/20200304-Sentiance-Aquisition-Option-and-Right-Of-First-Refusal.pdf
As posted before, Asimilar are also hoping to buy Sentience, both MESH and Asimilar might be struggling to get the funding needed, and as somebody else posted (somewhere!), MESH might have an issue with a major shareholder being the spouse of a blocked Director, (cannot remember where I see this now). Either way, will be glad when all this is unraveled as it has dragged on far too long, and would be nice to have the shares active again. GLA.
News due end of this month I think .
As we crawl ever closer towards Mesh's deadline day in June, and with the parallel buy-in to Sentience by Asimilar, I wonder how this will play out? As Mesh appear to have got in first, will Mesh be successful? Though the option % appears to have been lowered from the original max of 80.05% and then outright takeover (announcement July2019) to now be up to 47.7% of shares and the option to increase to 52.2% if obtaining the shares from RRNB capital investment, announcement March 2020. Asimilar have also been buying shares over time, and also appear to be looking at getting Sentience, in which case Mesh lose out? Both Mesh and Asimilar appear to be in need of funds to carry out a purchase although Asimilar might have a root by another company if I have read the threads on the Asimilar BB? if not enough funds could both lose out, or could a joint venture be on the cards? I find all this quite fascinating! hopefully shareholders in both companies will find out soon enough? Hopefully my interpretation of what I have read is correct, and my thoughts of possible outcomes are just that, my thoughts. GLA.
As Mesh seem to be silent with any updates on the proposed Sentience purchase, I have also started following Asimilar 'ASLR' BBs on LSE (here, not the other LSE), and someone on there noticed that Lindsay Mair had resigned as a director from Mesh on the 12th May, and this was found on the 'company house' website, on and was published on the 21st May. https://beta.companieshouse.gov.uk/company/03904514/filing-history
Thanks for the update, appears very positive.
Thanks for the update ,sounds like we may get news in several weeks then .
I got this email from Mike Power early this morning, after emailing him last night.
I’m impressed with the reply, and I can but hold on and hope that it comes good.
Fingers still crossed. Been here since Mercom.
“ Dear Chris,
Thank you for your continued support of MESH Holdings plc.
Like almost every other business, we've had to contend with COVID which has slowed us down significantly. That said, we have remained focused and we are very excited by the initiatives we are planning with our core holding, Sentiance NV.
As you know Sentiance is a leading edge AI company with some very significant global clients. Our AIM is to expand the Sentiance business to embrace a Consumer-to-business (C2B) model. We are working with some global partners (well known major technology firms) and investors to close a deal between MESH, Sentiance and some partner firms which will deliver a transformative outcome for MESH shareholders. I expect to be able to announce the closing of this deal in the next several weeks.
Lastly, I'd like to let you know that I have been a part of this story for over 2 years now. I have considerable ‘skin in the game’ and I’m committed to delivering this outcome along with some liquidity to MESH shareholders. I’m very excited by the progress we have made and I’m confident that a breakthrough is imminent.
Regards,
Mike Power
Chairman”
Have a look at the chat threads for ‘Asimilar’ ASLR, they have also started buying in Sentience, some interesting comments on there, and possibly clues as to why Mesh might have stalled with the progress? In theory, Mesh might have the option to buy a bigger percentage than ASLR in Sentience, or even another company AAAA might also be nibbling? It seems like there is something about Sentience, and that several smaller fish might by trying to take it over? but raising enough funds to enable this might be an issue? It could be interesting over the next couple of months? Let’s hope for a good result. GLA.
Any idea what’s happening with Mesh?
Relisted between £1 and £3 really. That's insane.
MESH HOLDINGS PLC ("MESH" OR THE "COMPANY")SENTIANCE ACQUISITION OPTIONANDRIGHT OF FIRST REFUSALMESH notes the announcement made by Asimilar Group plc ("Asimilar") today of a proposed primary investment in Sentiance N.V. ("Sentiance") and grant to it of an option to acquire 32,225 existing ordinary shares in Sentiance. Sentiance is a leading player in artificial intelligence ("AI"), machine learning and contextual behavioural data science and MESH has been a shareholder in Sentiance since late 2017.MESH owns 16,333 ordinary shares in Sentiance equating to 16.8 per cent of Sentiance's current issued share capital. The Company is pleased to announce that it has agreed the terms of an option over an aggregate of 48,337 Sentiance shares and stock options at a price of €650 per Sentiance share. The option is exercisable from 23 March 2020 until 30 June 2020, and the aggregate consideration payable by MESH is €31.4 million (£26.2 million). On the exercise of the option MESH's shareholding in Sentiance would increase to approximately 47.7% of the then issued Sentiance shares.MESH has separately agreed the terms of a Right of First Refusal with RRNB Capital Limited ("RRNB") with regards to its recent €5.0 million primary equity commitment into Sentiance (6,667 ordinary Sentiance shares). In the event that MESH acquires the 6,667 Sentiance shares from RRNB it would increase MESH's aggregate holding in Sentiance to 71,337 ordinary shares and the Directors expect that this will result in a controlling shareholding of approximately 52.2% of the issued share capital of Sentiance.As part of this process to increase its shareholding in Sentiance, the Company has also commenced the onboarding of an appropriate external mainstream financial advisory firm.Mike Power, Chairman of MESH, said: "Recent material progress and delivery of important operational, technology and client milestones are validating the reasons for our investment in Sentiance. The business is highly regarded across the world and the organisation remains fully focused on the successful delivery of its exciting game plan. Sentiance is now fully funded and we look forward to the next few months with great optimism." ENDSEnquiriesMESH Holdings plc Mike Power, Chairman via info@meshholdings.netLindsay Mair, FD
I think it is difficult to say right now. I do not have a clear picture of the financing and dont foget that Asimilar is still part of the gamehttps://www.morningstar.co.uk/uk/news/AN_1583327763737230900/asimilar-seeking-approval-for-sentiance-stake-buy-and-aim-readmission.aspxWhat I heard..(but thats more guessing of the market) they expext them to get listet between 1 and 3 GBP.Any other thoughts?
What are your views on the price of shares on relist after today’s Rns .
Any thoughts on what it means for MESH with A Similar Group making its move? Looks like they're trying to get Sentiance listed in some shape or form. Aker has a stake in Mesh and ASLR...
yes
Is it possible to sell or buy these on jp Jenkins, current value is 35.
Any ideas when this going to trade again ,left with some share certificates.
does the board recognize my need to buy xmas presents....?? what do these suits get paid for at all....if i took this long to sign a deal i'd be bankrupt by now...
The Board recognises the need of some shareholders for liquidity in the Company’s shares. To facilitate this the Company is in the process of establishing a relationship with a UK based provider of share dealing services in unlisted securities.
I think the co would like to relieve you of your shares on the cheap lol.
I hope this is not a repeat of the MCC story??
Any news yet? Can't seem to find anything.
yes i have... and?
You looked at Rule 9 of the City Code on Takeovers and Mergers ?