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So MOGP.GB.PL ... Is this just a listing of the same company on a different exchange?
Anyone know why are they all selling up?
Good point extrader, and i agree that £165k is a small percentage of CF's overall wealth.
However, i see the slice of the pie being fairly significant. Buying just shy of 5% of a company isnt done on a whim, especially one that is a cash shell of sorts. I think the investment of £165k was more dictated by the low MCAP, when seeing the % stake as the desired goal. If the company had a mcap of £20m then CF's stake would have cost close to £1m, as opposed to CF still investing £165k but for only 0.8%. For me, i see the % stake as far from a punt, breaching the 3% threshold etc.
Of course, i could be wrong with that assertion, and indeed the monetary investment of £165k could have been the goal, not a desired % holding.
Time will tell the true reasons for the holding, which i still feel is for an ORPH spin off, but whatever the reason is, i dont think CF has bought close to 5% of a business without the expectation that he will do very well out of it.
Hi Dingdog1,
Totally agree the general tenor of your post, save for .."an investment of £165,757. That is not punt money..."
If you take Mr and Mrs Friel's combined holdings in Amryt, ORPH and Raglan, I imagine you're looking at £ 40-50m easily, possibly more.
Their (Raglan) investment here is approx 0.4%, so very much in 'punt' territory for them, I'd suggest.
ATB
The UK gov want us to be an attractive country to list in. Making SPAC's more accessible means that private companies looking to go private have a less complicated and restrictive process of listing.
I am not sure of the history of, say, Amazon, but when they were a private company they could have opted to use a SPAC through which to list. If they did, and lets say you held shares in that SPAC originally, then you would be a very very wealthy individual today.
The UK gov want the latest up and coming private tech companies to use SPACs in the UK. We may end up seeing the next big thing list on the LSE via a SPAC. I do think that MOGP will be for one of the ORPH spin offs, but who knows what will become of us. If it were disease in motion then i see a massive future. The mystery box, as we are at present, is very exciting.
We may see a trend of investors taking up small positions in various SPACs for the chance to get a ground floor entry into potentially massive businesses. Lucky dip investing :-)
Same as most I saw the share drop and took a punt , since then iv done alot of research and looks like this is a very carefully thought out plan to be front runner's in the spac revolution. As always no one knows the future but I see a argo blockchain style rise. You have to take your positions early as to what spac set up you invest in but for me these guys are first out the trap and in return should be the one to race ahead
Looking at the holdings in the company, CF (via investment co) has acquired 83,927,629 shares. If we assume that these were aquired in the latest placing of £0.001975 then that is an investment of £165,757. That is not punt money.
The name change to UK SPAC adds further intrigue given that ORPH are looking to find a home for their spin offs, and therefore i am pretty confident that none of this is a coincidence.
I also dont think CF will have invested £165k, with similar amounts from Chris Potts and Rich Edwards, if imminent value sapping dilution was on the horizon.
I am expecting heavy dilution in order for us to house a spin off from ORPH (if, indeed, this is the intention), but i have a sneaky suspicion that the dilution, combined with acquired assets, will result in an increased SP, and thus net gain to existing shareholders, incl CF.
Dilution is wealth sapping in lifestyle companies where the money raised isnt value accretive. It meerely pays the directors salaries and keeps the company ticking over (ive been in a couple of those over the years!!). However, dilution can be value accretive too, if the funds raised/shares issued are used to acquire something that longer term will be worth more than the original outlay. I see the likely dilution here being of the latter in nature. If we do acquire one of the spin offs i think the SP will actually increase.
All in my opinion, of course, but it is enough for me to take a punt. If we do acquire an ORPH spin off then i will be receiving a heck of a lot more of these in time :-)
We also have the added excitement over SPACs at the moment. Rishi wants us to take full advantage of brexit and bring the UK back into the PLC big leagues with a stock market overhaul. I read somewhere that Apple is worth more than the FTSE100, which is insane. Rishi wants more tech companies to list in London to help bring us forward, and SPACs are a great way for companies to do this. MOGP (or UK SPAC PLC) anyone?
'Even stupid farmers can grow big potatoes' was the comment from my German boss when I told him of my win at a casino over the border in Czechoslovakia. Bet my last 5 Deutsch Mark on 27 and in it came. While celebrating with my colleague a big cheer went up because 27 came in again. I had no idea that the bet stays. So I won again. Must be the luck of the half Irish. Like a few of you jumped in blind yesterday for two reasons CF and calling it UK SPAC. Guiness
So much for saying there where sellers today, it was a nightmare trying to buy any quantity. Managed to pick some up in the end, very difficult though. I wonder who was hoovering. Looking forward to future RNS reports. If they are as smart with the new opportunity as they are with the name change to drive attention, we will do well imho. GLA
I once took one of my local colleagues to a casino in Cairo, where we spent 3 hours playing blackjack, drinking the complementary G + T's and occasionally being distracted by the belly-dancing.
I staked him part of my per diem.
We both came out ahead...and slightly the worse for wear.
Casinos arent for me earache, although some say AIM is one big casino!
The movement on the SP has been somewhat dull after the small burst this morning. But this has become an exciting share to be holding. A big question mark on a box, almost like deal or no deal! With LSE playing the banker and CF playing Noel Edmonds!
What will happen? No one on this BB knows, but CF does... and we will all find out soon... and hopefully it brings us riches beyond our wildest expectations (but could also be a damp squib!)
JimmyJesus, why not, the early worm and all that - who knows really but we’ve purchased on the back of 3 well informed investors, The world wide excitement around Spacs and the non core assets of Orph of which one or two will be spac’d
Most enjoyable investment I've made for ages. ATB
Magoo 247 I'm with you with this share, not a great day today for me so I thought I'll take a small punt just cos.... Its a Friday & f**k it
Magoo... yes you are right I didn't see the detail of the last raise within the previous shareholder circular. Apologies you are right given that.
Yes DShox, my interpretation was that it wouldn’t look to acquire an already listed company, but bring to market a company who doesn’t necessarily want the complications that come with an IPO. Hence this would then become the holding company ...
The company already raised £3.1m and the whole point of a SPAC, not navigate cumbersome disclosure rules, is not to define a specific target, to have no commercial operations and hold funds in trust, with the view to rapidly undertake an acquisition of a much larger private vehicle seeking to go public.
I've no idea what the fcu#k is going on here, but the very fact that Raglan are now involved and possible vehicle for OO assets???????. I have taken a punt with 2million share at .31p...good luck guys but this is definitely the maddest punt I've ever made!!!!
Deepjoy - you are behind the curve I’m afraid - it’s re-defined Now awaiting license !
Magoo. My understanding is that a cash shell company cannot raise capital from the market in these circs without re-defining its nature of business and issusing a prospectus first to outline the transition of the business from a building company, etc, beforehand. It can, however use any existing assets (CASH) on the balance sheet arising out of the sale of the previous traded company to make aquisitions of another PLC or list what is in effect a private company into AIM via that route. There is a difference as new market participants have no idea what the prospectus is, whereas any existing share holders know all there is to know from the RNS'. How much cash does it currently have is the question?
The point is that they cannot raise market capital without re-defining the business.. so to say it trades as a SPAC is factually incorrect as it is listed as a shell company whose previous business has ceased.
Deepjoy - it’s a Spac
Following Completion, the Company has been designated as a Cash Shell pursuant to AIM Rule 15. As such, the Company must make an acquisition or acquisitions which constitute a reverse takeover under Rule 14 of the AIM Rules or be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least £6 million) within six months failing which trading in the Company's shares on AIM will be suspended pursuant to Rule 40 of the AIM Rules. Admission to trading on AIM would be cancelled six months from the date of suspension, should the reason for the suspension not have been rectified.
Following Completion, the Company has been designated as a Cash Shell pursuant to AIM Rule 15. As such, the Company must make an acquisition or acquisitions which constitute a reverse takeover under Rule 14 of the AIM Rules or be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least £6 million) within six months failing which trading in the Company's shares on AIM will be suspended pursuant to Rule 40 of the AIM Rules. Admission to trading on AIM would be cancelled six months from the date of suspension, should the reason for the suspension not have been rectified.
It is the intention of the board to commence the process of identifying suitable acquisition targets immediately.
If the name change to SPAC UK PLC is not a big enough clue for you then I'm speechless
This is not a SPAC it is a shell as defined by market rules so look it up... and you're ramp is misleading and, on current market rules simply false..
Say the share price gets to 5p with the investments made they then dilute the shares say it goes to 3p a share but then the money they raised goes into a immediate growing investment then the sp would benefit and 24 hours later be at 8p. Spac companies are very exciting and in the early days the Interest is gonna put these up with cannabis companies. Then say December this year when companies like mogp are at 500p there will be a crash like never before. Spac companies = enormous short term growth but then crash.
For investors this is a genuine im getting rich in 6 months scheme.
0.3 a share now here but anyone who can see the hype behind this new spac mini era knows that it will be stupidly higher.
You just need to know when to get out as a spac company can fall from 500p to 5p in a hour.
From here as long as you don't sell its a amount of money being returned, just be careful you don't get caught on the bubble pop which i imagine will be as early as December this year.
Until then enjoy hefty profits
The renaming to spac uk plc is key word genius and watch how many overseas investors go spac that must be the main one.
Marketing geniuses
Yup, im also in with a little... not a lot... not yet anyway.
Max.. This is not a SPAC it is a shell company. Two things can happen, either they raise capital (6m) by issuing a prospectus for share holders / investors as a revised company listed as a SPAC, OR, they can taken over by another company for a notional sum of the companies assets (cash) and maybe some other level of incentive (warrants etc). The company doesn't raise funds to be taken over all that happens is that the BOD accept the terms. That is my understanding of the position and if people are interested a good example is bidstack from 2017 if you look at that process.