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They are hoping to have it all done and dusted by December assuming no more unforeseen obstacles…
Good news!!
Expected and delivered on their 10 day timescale! Hope this isn't too long a process now but can this being Q1 23 for me getting my money back
Any clue on timescales? Presumably the FCA have been engaged prior to this so is it a case of signing off and getting going or is there another 12 months of vague delay ahead?
This process has taken so long that the acreage they had in Greece must now be affluent with cannabis plants.
How long you people think the prospectus will be ect or is this going to be another longdrawn outcome ??
Yes , we've all waited a long time , hopefully our patience will be rewarded :-)
Finally , some good news. ATB
Tue, 1st Nov 2022 07:00
RNS Number : 8237E
U.K. SPAC PLC
01 November 2022
1 November 2022
U.K. SPAC PLC
("The Company")
Letter to Shareholders of the Company
I am delighted to be able to tell you that as the final version of the prospectus has now been submitted for sign off by the FCA our focus has moved to finalising the work (which is already well advanced) required for the completion of the UK SPAC/Hellenic RTO and the admission of the shares to trading on the Main Market of the London Stock Exchange.
Even though the transaction may have been a lengthy and complex one (because Hellenic will be the first cultivator of medicinal cannabis to obtain a listing on the Main Market) the directors of the two companies have throughout retained their confidence in the project and the benefits that it can bring to the shareholders of both companies. They are extremely grateful for the work over the last eighteen months by the excellent team of advisers and brokers.
You will shortly receive a copy of the prospectus together with the notice of the general meeting to approve the resolutions necessary to enable the Company to complete the RTO process and confirmation of the completion date.
Peter Jay
Chairman
UK SPAC PLC 07500 558235
Peterhouse Capital Limited
Lucy Williams / Duncan Vasey 020 7469 0930
From 'The Other Side'
"Net current assets to 31 Mar 22 were about £2.3m and to 30 Sep 21 were 2.6m. The claim that there is nearly £2m left indicates £300k has gone in 6 months, so about £50k a month is trickling out. This is not just employee (BoD) salaries but also all the advisors and other leaches. There are probably more leaches still to feed before relisting finally occurs."
This is a **** show and we are all being led up the garden path & it stinks bod, nothing but an imminent listing (within a week) will appease me personally
Well hope so as the email I had from Peter was dates the 17th 10 days take into account weekend so should be due tomorrow been waiting long enough
No delays, just developments. It is scheduled for release tomorrow and I think you will be happy with the contents.
Kind regards,
Peter
'I expect the letter to be available within the next 7-10 days.You will not be disappointed.Kind regardsPeter'.
Come on then Peter, lets be having it. Where's the update?
10 days are up. Hopefully get some info on Monday. It's been a long time.
Well we're now in to those "7-10 days". Tick tock. Let's see this update before inflation eats my holding.
In short: your best bet is to sell when this comes back on as we have no idea what will happen but I also see the sp sliding over time as most/all small caps seem to do. Long term holders might win but expect a 5 year holding which I'm not prepared to do
Apologies, i wrote that on the train this morning.
In short, micro cap companies often need to raise funds and they do so at the expense of dilution to existing shareholders, and thus the SP drops despite the mcap remaining stable, or even rising.
Companies like MODE floated with a 50p share price and £50m mcap. The SP is now 4p two years later. Granted the mcap is down too, but it has been awful for investors
I hope UKSPAC defies the trend, but my gut feel is that whatever the business does from an operational growth perspective, the SP wont necessarily follow that trend. If they need to raise funds in the future and can attract an institutional investor who will stick around, then happy days. The risk is that if they did raise by these means that the investor would be the type to immediately dump the shares, denting the SP
Dingo - I have no clue what you mean - your post is like 'there are knowns we don't know and knows we do' lol speech' total waffle - my substantial investment here is for one reason and one reason only -'Follow the money'
Ambitions are cheap, what isn't cheap is finding the funds to facilitate such ambitions. I hope they raise all they would need from day one. Any subsequent raises as the months go on will dilute shareholders considerably, more so than we already are being.
My experience with small caps is that they almost always need to raise and when they do they always do so via "investors" who have no intention of holding. Instead, these new investors dump their newly acquired shares (always acquired at a discount) into the market, and thus damaging the SP. Very few companies ever achieve an SP in excess of a raise SP point as micro PI's can never stem the slide of the SP with their "few grand here and there" buys, vs the deluge of dumping by a retail investor
There are, of course, exceptions. But AIM in particular is littered with micro cap companies that offer no return to shareholders. I am not confident this will be any different
The dream of micro cap shares are the 20x+ gains (ARB over a period of two months in 2020/21), but most end up like Iconic Labs (look them up).
Yep agree, good long term hold. That's my plan, if you see their strategy is to 10x production in about 2 years and move into patenting strains. Huge market in Europe opening up, and they have a unique growing facility which has agreed rights to expand. Looking forward to where this could go.
Btw I’m invested here with 180k shares and been extremely patient so far !
How are Hellenic Dynamics doing as a company , does anyone know . Medical cannabis is huge now and they must be making good money by now I would have thought. If or when this company on the market it should be a very good long term hold !
I want to believe that, but I think I'll reserve my excitement, try and contain my cynicism and hope for the best. This has been kicked down the road for far too long.
Glass 1/2 empty Putt Putt Putt
All is well. News about completion will follow within the next few days. - latest from Peter !
what a crock of bull****, I smell a rat
Nice one Bill. Thanks. We've waited so long that another couple of weeks shouldn't be a problem. Good to see that Peter was very positive and that we won't be disappointed.