Member Info for bigmj

I have bought and sold man large businesses, generally you agree an offer price first, then heads of terms, once agreement is reached here diligence commences and if everything was as expected the deal is then expected to complete on the pre agreed terms, however there is no obligation on the buyer, the seller may be under exclusivity obligations at this time. If anything is found during diligence which is materially different then the buyer would usually make a revised offer. Nobody would go to the expense of diligence (this can run into millions of pounds) without having an indicative offer agreed , this applies to both the buyer and seller

What’s happened is disgraceful, I can’t say too much but I am supportive of legal action and willing to help as you can see by me renegotiating my CLN.
I believe we have a robust claim and will be putting my weight behind it

Agreed, there aren't too many holders of ASX stock who are selling, this is pushing up the SP, I am one of this holding my placing stock and letting them go this cheaply

Don't worry , I will get involved as much as I am able to , to ensure a fair outcome for all shareholders.
The best option for all parties, is to continue with the transaction

13 October 2021

Anglo African Agriculture plc

(“AAA” or the “Company”)

Corporate Update

The Company is pleased to provide a progress update on the proposed acquisition of the Comarco group of companies (the “Comarco Group”). The Comarco Group is based in a port in Mombasa, Kenya (the “Port”) and is engaged in port and marine logistics activities in East Africa.

Extension of expiring Convertible Loan Notes and Comarco transaction update

As announced on 1 October 2021, the Board of AAA was informed by certain shareholders of Comarco that they were unwilling to proceed with the sale of the Comarco Group to AAA and that they will arrange for the repayment of the loan and interest due to AAA which amounts to approximately $1.5mn.

The Board has offered an alternative solution to the shareholders of Comarco representing approximately 70% of the combined businesses. The Board of AAA have proposed to continue the transaction by acquiring just their shares and allowing the one shareholder who is not currently in favour of the Comarco transaction to remain invested directly in Comarco as a minority shareholder. Should the business then require funding in future the minority shareholder will either have to match the funding up to the relevant percentage or be diluted down. This proposal has a verbal acceptance subject to it being in accordance with the articles of the relevant Comarco companies.

The Board of AAA has also been in discussion with the holder of a £250,000 Convertible Loan Notes that expired on September 30th 2021. The holder has informed AAA that he is agreeable to the loan being extended until the outcome of the proposed Comarco Group Acquisition is determined. The Convertible Loan Notes will continue to accrue interest at the previously agreed rate of 12%.

As the above proposal gives no certainty of an outcome to the Company, AAA intends to start legal procedures under the terms of the loan agreement with Touchwood Investments Limited (“Touchwood”) and reserves its right to exercise the option to acquire the entire issued share capital of Touchwood for a nominal consideration.

A big chunk of this placing was taken by myself and another HNWI who is know to me, neither us plan on selling any of these shares anytime soon

looking really strong here, nice steady SP growth, hopefully it will continue past 200p

yes we can but its obviously quite a complicated and lengthy process

Not great news today but as they say, its not over until the fat lady sings, I will be doing my utmost to make sure of this

If this wasn't listed on AQSE it would be getting a lot more attention right now, its really not making the radar for savvy investors as it should be. If you aren't invested here, look at the drill results versus the current MC and you will see just how cheap this is versus the realistic potential

Cheers, when you founded from scratch and continue to run a £200m business you aren't the kind of person to get your pants pulled down:-
https://www.insuranceage.co.uk/broker/7545386/lucida-on-track-to-make-deals-following-rebrand
Nothing is ever guaranteed with any investment, however I am still confident that this will turn out well.

I will try to be available for the next one

2021 has been a great year for short term trading placings, I have made a lot of cash, as for longer term holds (investments)
IRR, AMTE, AAAP, GRL, POW, EUA , SMK, TTAU , KAV all have gone great from my entry price or I am very confident about the future.
I still have a few dogs on my portfolio, got burnt in CEG (previously CERP), got out of jail this year on PCGE when it looked like a big loss.
I run 2 portfolios , one for short term trading profits and one for longer term investments

I always start if looking at downside before upside when I invest, with the assets MTR have its difficult to a down side from here , we might get the occasional SP dip but long term the fundamentals are sound here and the current SP well underpinned

I have kept hold of all my placing stock (£400k) and see this moving back into the 30p plus range very soon

At last, its finally happening, exciting times here

https://www.lse.co.uk/rns/PATH/proposed-acquisition-of-dg-innovate-suspension-j34u6n3z57k181z.html

https://www.lse.co.uk/rns/PATH/proposed-acquisition-of-dg-innovate-suspension-j34u6n3z57k181z.html

Hopefully , exciting times ahead here

I took a pretty sizeable chunk of the placing, not sure which over Pis took some

I took some in this placing to top up my ASX holding, I agree the price was frustrating for existing holders (myself included), however I do think longer term this will be a good move and the dilution isn’t too big

Best Regards

MJ

no, I have never had a dividend or salary from any company that has profited from Tally, not received a single penny