The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Let’s keep this investment in perspective:
FCIS states sixty WORKING days for change of control and then questions are asked and post 30 June summer holidays have affected the approval time as well as general external headwinds.
Glindala was specially formed for the purpose of GST acquiring the assets it wanted to acquire (obviously the two licences) and not the entire existing company which always happens in M&A - the previous cr@p about when the company was incorporated is rubbish.
Regardless of the delay, the company has continued to execute on the strategy to become a pure fintech business and what the delay means for investors is sooner news of go-to market dates of neo-banking and cross-border payment solutions and these dates are very significant.
I expect change of control FCIS approval RNS, I also expect a RNS of completion of the acquisition shortly after; the documents should be in agreed form, I then expect a RNS re a demerger of loss-making EMS Wiring and at which point I expect go-live dates and an all-share acquisition of Wise M Pay if 60,000,000 shares held in treasury following the EMS Wiring de-merger equates to £3,000,000 plus.
My Opinion
I saw the posts thanks. I’m talking about contacting BLU management (or in fact anyone) to ask for remedial action and unless I’m mistaken, it’s impossible to email or call the company we have invested in. I will be gladly be proven wrong, and frankly quite relieved, if someone can prove and share they have had direct contact with the company and a reason given why the company and its management haven’t provided the regulatory information required. No contact details, no staff or management and no adherence to regulatory information, all in my opinion are red flags.
Those “idiots” selling are most likely concerned at the HL debacle and posters saying they cannot contact BLU - the company they invested in. I emailed and no response and called and left a VM. In corporate health terms and in my opinion, not being able to contact a company you’ve invested in and no employees on LinkedIn to contact is a massive red flag.
I have emailed the info@Blu address on the website and called the landline and left a message. There aren’t any investor relations contacts on the Blu website or in the RNS’s so if anyone has a Blu contact let me know and I’ll give that a go. At this price I would like to be topping up
I thinks it’s very likely…but what news? The full year results, results and FCIS approval or the results, approval and completion of the acquisition?! Given in the 30 June RNS they were only waiting for the FCIS to complete certain administrative process I think the latter is possible which would mean go live dates too….
IMO the finish line isn’t getting FCA approval it’s that and completing the acquisition which isn’t a given. As an example, there may have been a long-stop completion clause (ie the acquisition must be completed by this date added by the sellers lawyers) in the sale & purchase agreement which may have breached and will have to be renegotiate albeit straight forward but needs lawyers to do so. GST may have been granted FCA approval before Christmas or maybe this week or next given the sixty-day calculations but wouldn’t have had any legal resources to complete the acquisition; corporate lawyers take a two-week break. It’s most likely the RNS will read “FCA approval and completion of the Angra acquisition” not just “FCA approval” and if this is the case and the timing calculations are correct and the FCA adhere to their timing of sixty working days, the acquisition would be completed w/c 4th Jan and the RNS would be circulated w/c Monday 10th Jan.