Member Info for HorisM

We need to vote that this is a takeover by Pinnacle and as such they need to buy all the share back from current holders

Saudi are in a very desperate position, everyone is moving away from oil, and the country has no other use to the world.

If they dont get into EV and batteries fast their country will be finished, doesn't matter that they are investing abroad, when they have no real use to the West and China they will be shut out.

Oil is done, the move to batteries will be fast:

If you bought Amazon stock during the last recession (2009) you would be up 4500% to now.

If you bought Apple stock in 1997 when Steven came back you would be up 100,000% to now.

If you bought Telsa stock in 2019 when they were desperate for cash you would be up 1900% to now.

Its a takeover job, the whole thing is cloak and dagger.

They are trying to get a takeover in place without the share rocketing up or causing a bidding war.

Expect a takeover offer for the freefloat soon in the 20+p region.

they will want to get this done before new year to start fresh and begin hiring and product roll outs to beat the market that are fast moving to sodium batteries.

Looks like we are on for a takeover offer within 2 weeks, best start buying everything in sight and holding ready.

If pinnacle are going for a takeover, then expect them to hover up all the shares before 30% region so they can ensure they have the shares "cheap" and more voting power to push the deal through.

Looks like a massive pay out to holders before Xmas.

I suspect that Pinnacle had always a takeover plan.

Fact is, there are plenty of companies that any day between now and end of Dec that could place a takeover bid.

Sure pinnacle are in the bedroom, but they still need to get us wet.

@user555, do you not see what is happening, Pinnacle are getting ready for a takeover.

They are funding the company over December to get the ducks in a row to make a formal takeover.

We should see a takeover offer in the 20+p region within 2 weeks.

Just wait for the official takeover within the next couple of weeks.

Expect to see an official takeover offer between now and the 22nd Dec.

My guess is 25p per share.

If pinnacle are smart they will start to buy up as many shares from the open market, so this minimises their cost of a full takeover.

Also the takeover needs to be reviewed by The City and Stakeholders to approve.

As such, we are now looking at an official takeover with a consideration of 50p a share for the 166m free float.

If the company runs out of money Pinnacle don't have enough skin in the game to get a purchase, as the other company with loans to AMTE will have first decision, which means they can choose to sell off to whom ever they like and this screws pinnacles plan.

Pinnacle should place an official takeover offer within 2 weeks to take the whole company private.

Read the RNS, the plan is to force a takeover.

If the company goes broke then this is open to getting bought up on the open market.

Well played Pinnacle, now pay up for the "20%" so you can take this private.

This is clearly a takeover by Pinnacle, we should request a formal takeover by them at 50p a share.

The aggregate proceeds of the Placing and the Facility, net of expenses, are intended to provide the Group with working capital until late-December 2023, by when it is anticipated that the Subscription Agreement will have been completed. Pending receipt of the proceeds of the Placing and Facility, the Group has sufficient working capital until mid-December 2023.

------ This is a Takeover by Pinnacle, expect a takeover offer for the 20%

The Placing Agreement remains conditional, inter alia, upon:

· the Panel granting the Rule 9 Waiver (subject to independent shareholder agreement) and the circular to shareholders convening the Subscription General Meeting being posted;

· admission to trading on AIM of the Placing Shares ("Admission") becoming effective; and

· the Placing Agreement between the Company and the Joint Bookrunners (as defined below) not being terminated in accordance with its terms.

The Subscription Agreement remains conditional, inter alia, upon:

· Pinnacle being satisfied with the conclusion of its continuing due diligence enquiries;

· the UK Panel on Takeovers and Mergers (the "Panel") agreeing to waive the obligation under Rule 9 of the City Code on Takeovers and Mergers to make a mandatory offer for the entire issued share capital of the Company which would otherwise apply to Pinnacle upon completion of the Subscription and conversion of the convertible loan facility, subject to the approval of independent shareholders of the Company (the "Rule 9 Waiver"); and

· the resolutions to be proposed at the general meeting to approve the Subscription (which shall include the Rule 9 Waiver) (the "Subscription General Meeting") being passed.

The Convertible Loan Facility remains conditional, inter alia, upon:

· the Panel granting the Rule 9 Waiver (subject to independent shareholder agreement) and the circular to shareholders convening the Subscription General Meeting being posted; and

· the Subscription Agreement not being terminated.

The Board anticipates that the circular convening the Subscription General Meeting will be posted imminently. A further announcement will be made at this time.

The aggregate proceeds of the Placing and the Facility, net of expenses, are intended to provide the Group with working capital until late-December 2023, by when it is anticipated that the Subscription Agreement will have been completed. Pending receipt of the proceeds of the Placing and Facility, the Group has sufficient working capital until mid-December 2023.

Capitalised terms not defined in this announcement shall have the meaning given to them in the Previous Announcement, unless the context otherwise demands.

The person responsible for arranging the release of this announcement on behalf of the Company is Anita Breslin, Chief Financial Officer of the Company.

Enquiries

Rule 9, read the RNS, the City has to still approve that the new shares being bought are either a takeover or not.

if the city says its a takeover, then Pinnacle will need to stump up the cash for the company.

Or it opens the door for another company to swoop in and buy the assets.

Football in Saudi Arabia has had a busy and expensive summer. When the transfer window of its top tier closed in early September, it had spent a record £767 million recruiting squad members from the world's top football clubs.

£80m is pocket change to the saudis and PIF.

So to buy up a company which is foundation to the future of the country for £80m is very cheap.