Recieved letter today that progress in the aquisition of CG Tekbuild Pte ltd and is comitted to compleating the proposed aquisition and seeking admission to the trading on aim of its shares as soon as practicable. So apart from keeping in touch theres not much to worry about. Good news rather than bad. Updates on progress of proposed aquisition will be available on the company website and will also update share holders by mail of any relevant updates. Normal proceedure when its taking longer than exspected to complete an aquisition.
Cant help thinking we may get some good news at some point on who the buyer of the shipments is as they have taken 3 shipments. Must be a reason for holding it back. Perhaps they want to see the mine working at full capacity before they comit to a long term contract etc. Only an observation. Could be something compleatly different like changing surplier and waiting for their contract to end before sighning with us for a bigger contract who knows but its looking good
From what i can remember we were surposed to be buying parts of another company so suspention is normal in those circumstances and maybe the placing is part of that but without keeping us up to date we dont know. Perhaps the information cannot be released until its done. The board of alecto was the same before it became cradle arc in a take over so we will find out soon and it could be exstended if the deal is not compleate. Took 6 months for alecto to do their deal
Sure doing a placing and then pulling the plug or delisting to be a private company would be fraud which would show up like a sore thumb so lets hope a nomad is instated shortly.
Due to buying a company that was due to be broken up. Nothing to worry about. Can take a couple of months or in the case of alecto which i am in 6 months as it is buying cradle arc and changing name to cradle arc at the same time. No ame change here just buying assets then back trading.
Its not that theres anything wring here. I think this will be great in a month or 2 its just going threw a placing at the moment. Just waiting for the right moment before i come back in myself.
Good investments, bottom of the curve, small share base = quick mover. Whats not to like. Will be some good movement here when these day traders see the end of the placings with earning season apon us
Its all looking rather interesting. Its been a long wait and more to come but its all looking well worth it. When the dust settles ill have to dig a bit deeper under the settee :)
To anyone looking to invest here it is obvious that a base has been found over 2 weeks ago and the price is begining to move in an upward direction. Id pay a visit to spec savers if you are having trouble seing the upward trend.