The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
.....but not quite as early as you g/cramp ! Just spotted this stock and yet to do homework. Is the time scale more promising than that we are enduring with Mila?
A look at recent news suggests near term RTO news. I reckon September at the earliest once people are back from holidays etc.
Could go mental with RTO news here soon expected. Tick tock..... Tiny market cap Look at the board members resume Says it all.
Good tick up. Short list in a month's time and hopefully deal news to follow in short order.
no reason why SOP cant do the same
No worries. Attraction of main market listings for cash shells is that it's easier (apparently) to get international investment and you don't have requirements like needing a NOMAD like you do on AIM (as well as the timing requirement for a cash shell to do a deal in).
Thanks for the link I will take a look. Wasn't sure having read the rules - clear as mud!
A main market listed company can do an RTO. You wouldn't RTO a main market listed company as the point of an RTO is that it is effectively a backdoor IPO. A few years old but check p. 7 https://www.pwc.com/mn/en/capital-markets/assets/mn_successful_listing_in_london_eng.pdf
Is it possible to RTO a main market listed company or for them to do an RTO? Just an observation having fully read the LSE main listing rules ? On AIM I accept that this is the case but on LSE main listing are you sure they can RTO?
Remains to be seen with SEN, but looks encouraging so far, looking forward to the prospectus coming out. What I liked here was that there seem to be targets in mind and quite a defined timeline. Hopefully, they deliver and don't end up being another MILA.
big RTO and look here sitting for ripe picking I think a positive outcome here
What sort of dilution do we think we might see here gents?
Ah ok, got you, cheers.
I doubt they would use this to do their RTO - we know Oyster will be listing though in London
Is there a link confirming that? Seems to be TSX listed so not sure why a RTO needed unless there's another Oyster out there. TIA.
looking to RTO - and there are not too many shells around at the moment! take your limited pick!
Also from O&G background !
Spinnaker Opportunities Plc (the "Company" or "Spinnaker"), the newly listed cash shell focused on delivering a single, material acquisition in the energy or industrial sectors, is pleased to confirm the appointments of Mr Alan Hume and Mr Andy Duncan as additional Retained Advisers to the Company. The role of the Retained Adviser is to advise the Board on a discretionary, part-time consultancy basis as the Board assesses potential Acquisitions. In common with the Directors, Retained Advisers will not receive any fees for their ordinary duties prior to the completion of an Acquisition transaction. Commenting on the new appointments, Andy Morrison, Chairman of Spinnaker said, "The whole Board is delighted to welcome Alan and Andy to the Spinnaker team. Their in-depth financial knowledge and practical skills and experience will greatly enhance our ability to process our promising inventory of opportunities and to complete a value-adding Acquisition as quickly and as effectively as possible." Mr Hume participated in the recent IPO, making a personal equity investment and on appointment, both Mr Hume and Mr Duncan become eligible for the Company's share option scheme. Awards under the Company's share option scheme are primarily intended for retrospective recognition for the "sweat" contributions of Directors and Retained Advisers. No option award is being made at this time. On presentation of a potential acquisition target, Retained Advisers may be requested to provide the benefit of their experience on issues such as target quality, potential capital expenditure requirements, commodity market dynamics and business development in order to assist the Directors in formulating an investment decision. While the Retained Advisers may be asked for their recommendations, all decisions will be made solely by the Directors.
That was a decent amount of trades yesterday.
Andy Morrison about SOP https://youtu.be/RpkcXRGJ-Ts
Spinnaker Opportunities Plc (the "Company" or "Spinnaker") the newly listed cash shell focused on delivering a single, material acquisition in the energy or industrial sectors confirms that on the day of Admission, 17 May 2017, Andy Morrison, Chairman, transferred 1,200,080 shares in the Company to his self-invested personal pension ("SIPP") at a price of 5p per share. Mr Morrison's total holding remains unchanged at 4,600,080 shares representing approximately 17.7% of the issued share capital of the Company. Following the transfer, he holds 3,600,080 shares in his SIPP and the balance in his ISA. Mr Morrison and his board colleagues invested a total of £310,000 in the recent initial public offering in the Company and will not take salaries prior to an acquisition. Their interests therefore are fully aligned with other investors.
Interesting for a BOD to take so much skin in a shell, very compelling. Good opportunity to buy below IPO too. GLA