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Imagine spending a year finding out the potential acquisition co didn’t renew its licence
“The Company has been made aware through the due diligence process that the project licence has not been renewed and that the project vendors are currently appealing the refusal to renew. The Company does not know whether the appeal will succeed or how long it will take to be decided.
Given the above, there can be no certainty that the Proposed Transaction will take place and the Company intends to update the market in the near term as to whether it will proceed or resolve to pursue another course of action.”
It’s a shame that we’ve not see any kind of update in 2022, it would be good to know they’re still working on the deal and any kind of non-committal timeline at this stage would be a bonus.
A shame it doesn’t say what price they paid for those holdings.
Lots to happen over the next few months. These can go both ways, agreements doesn’t mean deal so it could fall through and we start again. If it progresses then there’ll be a raise of some sort to generate the cash they need for the transaction (or they’ll settle it with new shares and a min holding period). The BOD have a lot of share interest in this, which gives me real confidence that any deal they do will bring considerably shareholder value for existing holders. Whether they crystallises on the day suspensions lifts, or over the next 12 months, I’m looking forward to the ride!
How did they sell £8m shares and only release 1 TR1? They cannot have sold them all in one go, they must have been selling in the background for weeks or they’ve transferred some/all off market in which case there should be at least one TR1? Would have like me to see more BOD buys to instil some confidence this is due some good news.
If any of the bord are looking, an update would be nice.
1. Any discussions or identification of targets, areas of focus. Have they changed since inception?
2. Cash at hand, always nice to know. Last update ~364k at 31/1/21.
3. Current shareholder confirmation (do VSA still own 2.58% as stated on website)?
4. Confirmation no outstanding warrants, noting recent expiry of 17mil warrants on 6/9/21.
Thanks
Unless it announces an RTO target, in which case it will be suspended until the acquisition completes (or doesn’t…)
As long as it needs as it’s main market LSE and not AIM
There’s a big seller here, expecting 2/3 TR1s over the next 24hr and I can see it going back to 1.8 levels when it does. A lot of delayed sells are being printed as buys. I’m shocked we haven’t had a TR1 since 12/03. Doesn’t seem right to me
These guys are bigger than syme, ain’t know why syme is acquiring them. Syme is probably begging them to use their platform, more like. **** RNS, if the HoT is signed, then tell us their name. Otherwise AZ is just allowing you to make these ridiculous conclusions
I think it’s entirely possible that this has been borne out of a possible link to a law firm, Latham & Watkins, where Nicola Higgs is a Partner. They have legal services for companies in Africa, which is where Catenae are aiming one of its products (afrik-ID pilot). Longshot i know!