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Is there a date by which the tender offer has to be confirmed?
Interesting to see that LRB35 includes CFP Fintech LLC...
https://find-and-update.company-information.service.gov.uk/company/15108447/officers
Make more money what’s the significance of that?
Check this out: so LRB35 per Tintra RNS is set up on behalf of Cogut family:
https://www.investegate.co.uk/announcement/rns/tintra--tnt/form-8-opd-offeror-tintra-plc/7777225
Cogut family set up Pegasus Capital which manages $2.5bn of assets. Pegasus now shows Tintra on it's website as one of its investments! Makes the whole delisting feel like a way to oust PIs. Bring private in advance of agreeing full funding in Feb 2024 or just to remove the oversight. Either way, doesn't feel like it is all hot air.... Pegasus, Cogut and John Botros all mentioned further down in above RNS.
https://www.pcalp.com/investments/
also wonder if any link to this:
https://*********************/newsfeed/article/tintra-plc-exercise-of-option-issue-of-convertible-stock-1255959
Pegasus also behind Barbados deal. These guys are not small fry.
https://www.morningstar.co.uk/uk/news/AN_1695651103265012200/in-brief-tintra-inks-deal-to-provide-tech-for-barbados-bank-venture.aspx
I’ve bought more. I reckon big time this spikes hard yet. If not hold into delisting and it’s likely full funding US tech valuation style 1000p+++
This is less than the current £10, £10m funding. The timing of Barbados deal, suggested Feb 24 full funding, Pegasus offer and by 'chance; they will delist a month before Feb 24 sucks. Short timeframe for PIs to get out. AIM shares can be pretty scummy at times!
As its another month since the last notice are LRB required to issue an update statement tomorrow morning?
Unlikely I’d say. They announced rule 2.8, meaning that they are not making an offer for the company. Therefore there is no update to be made. They are barred from making an offer for the company for 6 months, and also restricted to acquiring a maximum of 30% interest in the company, which is why they can’t oversubscribe above 29.9% if it is forthcoming.
So gut feel is that there is no obligation to notify us anything given the notice of not making an offer was issued. I don’t believe there is a time limit or notice requirement for a tender announcement. Though obviously, given januarys intended board meeting to delist, the clock is ticking.
Bunsen, sorry for late reply. I thought it noteworthy given the still as yet unresolved issue of the CLN. Its my understanding that the dispute is with Fintech, the same party as is behind LRB35.
I wonder now who was behind the nomad resignation, was it a nomad own decision or have they been influenced by the current board or LRB35? Who knows. This is now such a mess for everyone involved, the company, LRB35, existing holders, Fintech and even brokers who hold shares on nominee basis on behalf of PI's.
Will be fascinating to see what unfolds in the days and weeks ahead even before the 4th January meeting imo.