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It's interesting to compared TMOR's value with that of anther shell that floated recently at 1p, with a similar amount of cash: GSC (GS Chain).
GSC's current s.p. is 5.45p, giving it a market capitalisation of £21.8M.
Which is over £20M. more than TMOR's current market cap.: £1.38M., at 1.1p.
13th May 2022 8:00 am RNS Admission to trading and first day of dealings
"GS Chain is pleased to announce that admission of its shares to trading on the London Stock Exchange's main market ("LSE") will take place and dealings will commence at 8.00 a.m. today, under the ticker GSC and ISIN number 984500K398M8C508B642.
The Company is direct listing 399,985,888 Ordinary Shares on the Official List. Market capitalisation at 1p is £3,999,858.88.
About GS Chain
GS Chain intends to identify opportunities within the technology sector, to conduct the necessary due diligence and subsequently complete an Acquisition. While the Directors will consider a broad range of technology sectors, those which the Directors believe will provide the greatest opportunity and which the Directors will initially focus on include the use of technologies in real estate, banking, finance, fintech, telecommunications, automotive and blockchain industries. The Directors may consider other sectors if they believe such sectors present a suitable opportunity for the Company.
The Company's objective is to generate attractive long term returns for Shareholders and to enhance value by supporting sustainable growth, Acquisitions and performance improvements within the acquired companies. The Directors will also use their knowledge and experience across a wide range of industry sectors in acquiring, investing and integrating businesses, which allows them to assess the viability of acquisition opportunities and their management teams, which is fundamental to finding the right Acquisition.
The Company's admission document is available to view on its website https://gschain.world/"
https://www.lse.co.uk/rns/GSC/admission-to-trading-and-first-day-of-dealings-dr1jidj76838vvl.html
I think that for some traders, the following timescales apply:-
Short-term: minutes.
Medium-term: hours.
Long-term: a day!
But it all helps to make a market, and provide stock availability for others.
Very disappointed to see weak hands
https://twitter.com/zopelyforver/status/1531995893720879111
Surely the excitement has not fallen away so fast?
Must be orders in the background, can sell in big volume
And TMOR executive director Roderick McIllree has topped up his holding by buying a million shares on the market:-
22nd Apr 2022 7:00 am RNS Director/PDMR Shareholding
"More Acquisitions plc (LSE: TMOR) has been notified yesterday that Roderick McIllree, Executive Director of the Company, purchased 1,000,000 Ordinary Shares of £0.01 each in the Company at 1.063 pence per share, on 21 April 2022.
Following the Director's purchase, Roderick McIllree owns 10,000,000 Ordinary Shares, representing 8.00% of the issued share capital. ..."
https://www.lse.co.uk/rns/TMOR/directorpdmr-shareholding-zav6zacwn1bfnkw.html
You might think that with nine million shares already, he had enough, but apparently not.
Clearly neither director waited very long after TMOR's float before their purchases, which is quite unusual.
And it suggests that they think TMOR shares are an absolute bargain at current levels, which may not last long.
TMOR non-executive director Charles Goodfellow is obviously confident of creating significant value here, buying as he has nearly a million TMOR shares on the market, to nearly treble his holding:-
17th Mar 2022 4:25 pm RNS Director/PDMR Shareholding
"The Company has been notified that on 17 March 2022, Charles Goodfellow, Director of the Company, has purchased Ordinary Shares of £0.01 ("Shares") as follows:
Director Date ofpurchase Numberof Shares Purchaseprice TotalSharesheld % Issued share capital held followingpurchase
Charles Goodfellow 17 March 2022 454,545 1.10 p 954,545 0.76 ..."
https://www.lse.co.uk/rns/TMOR/directorpdmr-shareholding-2fgl7f3q0dnlggj.html
1st Apr 2022 2:57 pm RNS Director/PDMR Shareholding
"The Company has been notified that on 1 April 2022, Charles Goodfellow, Director of the Company, has purchased Ordinary Shares of £0.01 ("Shares") as follows:
Director Date ofpurchase Numberof Shares Purchaseprice TotalSharesheld % Issued share capital held followingpurchase
Charles Goodfellow 1 April 2022 500,000 1.089 p 1,454,545 1.16 ..."
https://www.lse.co.uk/rns/TMOR/directorpdmr-shareholding-56e8u630i2vqpz9.html
Taken a few more here already.
gla
TheRifelmans,
So instead of potentially making say 1,000% here long term, if there's a good RTO and growth story to follow that, we might only make 990%?!
Thank you for your advice that "You should never buy shares with a spread greater than 5%", which would surely rule out the large majority of penny shares, but I think we're old enough to make up our own minds.
I would add that the 'headline' spread here is actually 9.09%: i.e. 0.1p around the 1.1p mid price (1.05p bid, 1.15p offer).
Moreover, it is often possible to deal inside the quoted spread.
I can sell now for profit
You should never buy shares with a spread greater than 5%. Here it is 10% so that is what you have to make before you even start to think about making a profit.
Looks good
https://twitter.com/zopelyforver/status/1531682243701243905
I’ve joined you lads, let’s see how this pans out
First time we have been on the same side of a punt...
First Tranche of £15K in
Double up? May well do ...
. practically cash value and no hangovers in stock warrants fees Ra Ra Ra
"... Pull that kind of heavyweight team together, with a mandate to “pursue available investment opportunities in the natural resources and energy sectors”, and more excitable private investors will inevitably look to join dots to guess the magnitude of business probably teed up to reverse in.
Commoditrade, Mentum’s previous incarnation, like Skiddaw, was another shell company floated on AIM by Andrew Regan, the colourful entrepreneur still best known for his unsuccessful attempt to gain control of the Cooperative Wholesale Society in 2009.
In 2006, he reversed a London Metal Exchange (LME) trading business into it, which made terrific money and commanded a market value of about £150 million until the credit crisis pulled the shutters down on financial markets.
Five short years later, the (still profitable) trading business, which also had $1 million cash and a further £1 million of LME shares was then sold to one Andrew Regan for £1, leaving a clean shell, then recycled to become Mentum.
Against the backdrop of an improving American economy, the FTSE 100 was driven 50.1 points higher to 6,621.1 by the latest glut of company results."
https://www.thetimes.co.uk/article/cast-list-including-son-of-abramovich-manages-to-create-drama-of-its-own-xdd7szs0qjm
TMOR's non-executive director Charles Goodfellow was previously a director of shell company Mentum (MEN), which became a terrific multibagger.
Consolidation adjusted, Mentum's lowest placing, a few months before its RTO suspension, was at 0.13p.
And MEN's RTO was then priced at 0.575p, i.e. 4.423 times as much.
Here's an interesting article on the excitement around that shell, including Charles Goodfellow's involvement:-
"Cast list including son of Abramovich manages to create drama of its own
Gary Parkinson
Thursday August 01 2013, 1.01am, The Times
There was a frisson of excitement on the bulletin boards of financial websites about a little-known AIM shell company with a lively cast of characters.
Mentum, valued at barely £2.3 million even after yesterday’s 80.9 per cent surge to 0.43p in heavy trading, issued no news.
It’s the personnel involved that sets it apart from the run-of-the-mill shell, which is no more than a company that has a stock market listing — most often, but not always, on AIM — but is devoid of a trading business.
They can be “clean” and unencumbered. Or they can be “dirty”, the rotting carcasses of collapsed businesses, routinely replete with duff management, torched shareholders and debts that drown any residue of cash still glued to the bottom.
One of Mentum’s three nonexecutive chairmen, Peter Moss, is a former Dresdner Kleinwort Wasserstein, Donaldson Lufkin Jenrette and Commerzbank banker of some 30 years’ experience. Another, Charles Goodfellow, has been raising money for small and medium-sized companies listed in London for nearly as long.
The third is Shahed Mahmood, a founding shareholder and director of several AIM-quoted investing companies, including Skiddaw Capital, which became Crosby Capital Partners, which became Zoltav Resources backed by Arkadiy Abramovich, the son of Roman, the Chelsea billionaire.
In June, large new shareholders jumped on board Mentum. Jim Stewart is the chief executive of the Investment and Development Office of the Emirate of Ras Al Khaimah. Mike Douglas is the founder and owner of the SKA International Group, which supplies fuel to the US Army in Iraq and bills itself as “doing difficult jobs in difficult places”.
Both Mr Douglas and Mr Stewart own nearly 13.3 per cent of Mentum. So too, rumour-mongers suggested, does Ilyas Khan, the man who put Zoltav together, purportedly now pulling Mentum’s strings. He is not mentioned as an investor, but the suggestion was that he is behind Stanhill Special Situations Fund, ECK Partners and Bleachers Investments, each owning more than 4.4 per cent. ..."
https://www.thetimes.co.uk/article/cast-list-including-son-of-abramovich-manages-to-create-drama-of-its-own-xdd7szs0qjm
Shell company PNPL nearly doubled in the first half of April, despite not even announcing any news.
PNPL is currently 5.75p, market cap. £3.43M.
But unlike TMOR, PNPL is trading at multiples of its cash, which even at the end of last June was below £1M. (£930K.)
Took 650k in tranches at 1.05 and under, happy days
Nope...
Didnt press the magic button.
Worth a punt for sure, see what happens
Hopefully, BlueGlow is now sitting smug in the warm afterglow of buying when he saw the 1.038p bargain earlier.
Getting chunky now
Just 216k but more joining - as TruthCaller notes, full ask paid on a lightly traded share.
Just 40% seem to be in the hands of punters at the moment and the share is listed on the main market... some love to ramp when a tiddler is not on AIM.