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At this time, the reconstituted Board intends to complete an acquisition which will constitute a reverse takeover within six months following completion of the Proposed Sale. It is intended that this proposed acquisition would be within the oil and gas space, with further Board changes to be made as appropriate depending on the specifics of the proposed acquisition. The reconstituted Board intends to evaluate in short order potential acquisition targets with part of the net proceeds of the Placing and looks forward to updating the market as and when appropriate.
is 25m with just under four hours to go (less than 2% of issued shares)
On Friday (people get paid on Fridays?) there were 500m traded (around 1/3 of the company ie about 300k worth) so why has it slowed down so much? It sounded to me from reading some posts on here and twitter that this is a no-brainer!
Like I said in my other post, people who wanted to make a quick cash shell profit were in and out and other people are sat here at under 0.1.
I really do hope the LTHs get something back but can't see it picking up much from here now.
Good luck all, from a (previously but now un)invested rubber necker
Is super quiet on NUOG hashtags today
That's because it doesn't need ramping any more. The people who make loads of noise about cash shells are in and out with a profit and everyone else can be left to hold the baby.
Whatever the MCAP of the new company on RTO, the cost per share won't change dramatically because the shares will get diluted to make a fair valuation alongside any new investors, and from then on, whatever the new company is, they'll need to add value to whatever they bring in order to increase the share price.
Good luck if you hold but if it was me I would be out before suspension!