From advfn9 Dec 2013 13:12
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Back in July..
"A shell company making its debut in London today is promising a hefty transaction before the year end to catapult it into the FTSE 350.
Xplorer, listed on the main market, not AIM, raised £1 million by selling shares to fund managers and the well-to-do at 16p each. That will pay for due diligence to be carried out on a deal.
"It is backed by Sprint Capital, a Hong Kong based private equity group which specialises in natural resources and holds 17 per cent of Xplorer.
"Sprint has a portfolio of candidates to inject into Xplorer, but an oil and gas production company is thought to be the favourite.
"Two Sprint directors - Chris McAuliffe and Jacqui Lim - sit on Xplorer's board. According to John Davies, the Chairman of Xplorer and a former Lehman Brothers and BearStearns investment banker with 30 years' experience, Sprint stands ready to back a significant transaction"
Important bit to note;
"A shell company making its debut in London today is promising a hefty transaction before the year end to catapult it into the FTSE 350."
GL