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So am I right in saying that there is going to be a consolidation and a take over of two company's and also a placing, but the rto means that two companies will be effectively merged and will be hopefully able to increase earnings?
Has anybody noticed the rns!
TAVISTOCK INVESTMENTS PLC Proposed Acquisition of County Life & Pensions Limited Proposed Acquisition of Blacksquare Limited 1 for 100 consolidation of Ordinary Shares Placing of 10,000,000 New Ordinary Shares at 7.5 pence per share Waiver of Rule 9 of the City Code on Takeovers and Mergers 15 May 2014 Tavistock Investments Plc ("Tavistock" or "Company") is pleased to announce that it has entered into conditional contracts for the purchases of County Life & Pensions Limited ("County"), an independent financial advisory business, and Blacksquare Limited ("Blacksquare"), an investment management business (the "Acquisitions"). Both County and Blacksquare are regulated by the FCA. The Company also announces that it has conditionally raised an additional £750,000 of working capital through a placing of 10,000,000 new ordinary shares of 1p each ("Placing Shares") at a subscription price of 7.5 pence per share ("Placing Price"). In view of the size of the Acquisitions relative to the Company, they will constitute a reverse takeover of Tavistock under the AIM Rules for Companies and therefore require the approval of Shareholders which is being sought at a general meeting to be held on 30 May 2014 ("General Meeting"). Application will be made for the enlarged share capital of the Company to be admitted to trading on AIM, subject to the passing of the resolutions to be proposed at the General Meeting ("Admission").
It's acquisition time finally! Rns out
Stupid drop IMO on so few trades. Hardly a mass sell off. Plus the RNS was quite positive, with a few experienced people on board it seems tavi is able to move forward. Like Joco says it's a case of what does near future mean, but I'm prepared to wait :)
Update on Timing of Admission Document Publication Mentum provides an update to shareholders regarding the timeline to the Extraordinary General Meeting that will consider the transaction announced on 24th February 2014, regarding the memorandum of understanding ("MoU") it had entered into to acquire the mineral exploration and development operations in the Kyrgyz Republic of Robust Resources Limited (ASX: ROL), together with approximately £3.5 million of cash (the "Proposed Acquisition"). The Proposed Acquisition will constitute a reverse takeover for the purposes of the AIM Rules and accordingly, trading in the Company's shares was temporarily suspended, until the publication of a re-admission document by the Company in respect of the Proposed Acquisition (the "Admission Document"). The Proposed Acquisition is at an advanced stage but requires technical and other work that will need to be completed before the Admission Document can be issued. Mentum continues to expect that this is likely to be available to shareholders during April. Trading in the Company's shares will remain suspended until such time that the Admission Document is published. Any changes to the timetable will be notified to shareholders.
At least they are keeping us in the loop
Well that sounds encouraging, I'm prepared to wait to see what happens anyway but it has become a little stagnant recently!
Anything that you can share ? When you say wasn't comfortable do you mean in a bad way?
I spoke to company and they said they were working through wordings, dotting i's and crossing t's so to speak, :)
Hey buddy, I spoke to them couple of weeks back and was politely told that they can't disclose any more info. So I'm not sure what is going on but I'm sure they are working on something, plus I'd rather they take their time and pull out a blinder of an rto than come up with something not worth our money....
Should hopefully be within the next couple of weeks that the circular is put out there and then after that men will be available for trading again before the shareholder vote at the egm for the go ahead on the rto. It will certainly be interesting regarding the sp before the acquisition. Tengri will have very few shares in free float (as Rol will hold the majority and be locked in most likely) so whoever gets the lion's share in men will get to hold onto that free float in the larger company. I can smell some institutions stepping in to get some action there. But we'll have to wait and see, it's possible we'll be testing all the resistance levels....
Some news soon....
Seems that you geography isn't really up to scratch, it's a completely different country with different laws and a different constitution. http://en.m.wikipedia.org/wiki/Kyrgyzstan Plus, just to be clear, the assets are worth a staggering amount and that's why this will rerate, however I see you're trying to get people to sell so you can get in otherwise why bother?
Hey buddy, yeah, well I guess we'll find out what's going on later, I think it is a good deal but we'll have to see how the market reacts .... What do you think think about tavi at the moment....?
I spoke directly to the company and £3.5m IS changing hands, as per rns. If you have do few shares, why bother researching this so much?
Thanks for your thought about the situation here. Tbh I think it's a good deal too and phoned the company regarding it. They were very helpful and based on presentation it seems that they can bring this closer to production very soon, so let's see what happens when trading starts again, but seems to me that it will attract more money to it and with few shares in free float should go up significantly, I hope :)
Hey buddy, what do you think about this rto?
I phoned the company because I was worried like yourself, the deal is that they get 3.5 mill from rol and they issue 27mill worth of shares, so no further dilution afterwards. If the consolidation happens which I think is probably inevitable, it won't be a sub penny share anymore and IMO might be heading to the pound share status. The guy I spoke to compared it to zol. I think that they have done a pretty amazing deal if you look at what is there. Rol will keep their investment in the company and with fewer free floating shares I think they will be hard to come by, maybe ( ?) short term pain for long term gain? How many shares do you own buddy? I've got 1.7mill
I can see your point but a few things jump to mind, firstly, they will consolidate to 1:50 or 1:100. The share will no longer be a sub penny share, and will attract institutions to invest. With ~£4million in cash they are fully funded for a year to bring this to production. The directors may step down as directors but keep their shares in the bee company. There will be a drop, but there was also a fund raising at 0.3p and it went up. As ever long termers will most likely benefit rom the acquisition, all IMO