Member Info for ICB888

Belluscura plc

("Belluscura" or the "Company")

Statement regarding possible offer for TMT Acquisition plc

The boards of Belluscura plc (AIM:BELL) and TMT Acquisition plc ("TMT Acquisition") are pleased to announce that they have reached agreement on the key terms of a possible share for share offer for TMT Acquisition by Belluscura (the "Possible Offer"). TMT Acquisition is listed on the Main Market of the London Stock Exchange. TMT Acquisition has no trading activities but does have unencumbered cash and near cash of approximately GBP4.7 million on its balance sheet.

The independent director of TMT Acquisition, Paul Tuson (the "Independent TMT Acquisition Director"), has confirmed to Belluscura that, should a firm offer be made on the Possible Offer Terms (as defined below), the Independent TMT Acquisition Director is minded to recommend it to TMT Acquisition shareholders, subject to the agreement by both Belluscura and TMT Acquisition of customary terms and conditions as well as the satisfactory completion of confirmatory due diligence by both Belluscura and TMT Acquisition.

Any announcement by Belluscura of a firm intention to make an offer for TMT Acquisition remains subject to the satisfaction or waiver (by Belluscura) of a number of customary pre-conditions, including, inter alia, completion of confirmatory due diligence, agreement of the detailed terms of the Possible Offer and a recommendation from the Independent TMT Acquisition Director.

Terms of the Possible Offer

The proposed terms of the Possible Offer comprise the issuance of 15 new ordinary shares of Belluscura ("Belluscura Shares") in exchange for every 22 ordinary shares of TMT Acquisition ("TMT Acquisition Shares") equaling 18,750,000 Belluscura Shares (the "Exchange Ratio"). The Exchange Ratio would imply a valuation of 21.82 pence for each TMT Acquisition Share and a 24.7% premium to the three month volume weighted average price for TMT Acquisition Shares calculated for the period ending on 2 October 2023, the last practicable date prior to the announcement of the Possible Offer (the "Possible Offer Terms").

Accordingly, on the basis of the Exchange Ratio, the Possible Offer will imply a total valuation of GBP6.0 million for TMT Acquisition

Bell currently Up 16.4%

Volume starting to pick up now with some chunky trades well above the current sp that’s shown due to following the latest AT trade price. For example the last trade was a 200000 Buy at 15.74p

Trading has slowed down with no trades between 9.24 and the UT at 11.00. Then just 3 trades around 11.30. Volume currently 11.4 million nearly all of that in the first 1.5 hours of trading. Interested to see what this afternoon has in store.

Difficult to get a clear view on the trading today. The last trade reported was the largest buy of the day 1.4 million at 1.2p but delayed by 1 hour. 6 trades from yesterday afternoon have been late reported this morning. With all the news due any day now the rise should resume as the day progresses.

Good start to the month Number 17 on the Leaderboard Up 14.6% on volume of 19.46 million. Nice rise into the close with thrash trade a Buy of 500000 at 1.195p, the highest price paid all day which bodes well for the rise to continue tomorrow.

Up 12.2% on volume of 18 million which is the highest by along way since the 23 million on 1st September.

SCIR said this would happen by 20th October and it’s happened by 2nd October. Expect news from AEX in the coming days as the approvals they are waiting for start to arrive. SCIR straight to the top of the Leaderboard.

I don’t just say it’s not my work it quite patently is not my work. I am simply highlighting the opinion of 5 professionals against the deramping of someone with no qualifications to forcast the value of CHAR. I think that is good information for the bb and the bb can form their own opinion as to whether they consider KB a deramper. He says he is telling it as it is, which is wrong ,he is giving his opinion of as it is. Get over yourself lad we all know you’re a deramping trader and during the course of October he is going to be exposed for what he is. I rest my case.

It’s not my work it’s the work of professional analysts. We are all aware of the delay that has occurred but we will soon advance to the next stage and those targets remain valid. Patience is very important for long term investors who will be rewarded with the big gains leaving the small gains and often losses to the deramping traders.

A few posters this afternoon are asking about the future share price. It is prolly as well to look at what the professionals think as set out on the Investors Chronicle website:

“ The 5 analysts offering 12 month price targets for Chariot Ltd have a median target of 47.54, with a high estimate of 59.84 and a low estimate of 34.43. The median estimate represents a 203.61% increase from the last price of 15.66.”

So Oscars suggestion is much more in line with the professionals whereas KB is as usual deramping.

I am sure you can all make your own minds up but one thing everyone is agreed on is it will be a lot higher than todays price as even if it just doubles from here it won’t reach the lowest analyst forcast.

Up 2.5% to 4.05p on volume of 950000. SEED is up 100% in the last 6 weeks but still along way to go to narrow the discount to NAV. SEED just back to the sp it had in September 2022 and needs to double again to get anywhere near NAV.

Important to remember that the share buy back has not yet commenced as a further announcement has been promised when it actually starts. September has seen an impressive turn around in SEED’s fortunes which should continue into October and 2024. The investments are starting to perform well and the Directors clearly have some deals lining up to start deploying the £7 million cash. As a long term holder I am enthusiastic about SEED for the first time in a long time.

I have express the view for some time that the transfer of SCIR’s 25% of Ruvuma to ARA is very connected to ARA moving forward with the project. Although it has been denied they are interdependent the reality suggests otherwise and I think it is prudent of ARA to have full control of Ruvuma before proceeding to produce the gas that Tanzania desperately requires.

SCIR and ARA have extended the completion of the Transfer until 20th October by which time they expect to have Government final approval. Once that happens I expect all systems go.

This is a very exciting development and exactly what you would expect TEK to be doing:

“ In subsequent periods, Tekcapital intends to invest in Generative AI startups spun-out of universities that have the near-term potential to increase the productivity of existing specific businesses. To assist us with technical insight in this rapidly evolving area, we have expanded our science advisory board with two leading AI scientists:

o Dr. Russ Salakhutdinov, the former director of AI at Apple. Russ is a Professor of Computer Science in the Department of Machine Learning at Carnegie Mellon University (CMU). He received his PhD in computer science from the University of Toronto. After spending two post-doctoral years at MIT, he joined the University of Toronto and later moved to CMU. He has authored/co-authored over 150 research papers and he is an Alfred P. Sloan Research Fellow, Microsoft Research Faculty Fellow, a recipient of the Early Researcher Award, Google Faculty Award, and Nvidia's Pioneers of AI award and,

o Alexander Mordvintsev who currently serves as a Senior research scientist at Google and inventor of Deep Dream. Alexander is one of the world's leading scientists in AI and computer graphics”

Just look at calibre of the guys they have recruited from Apple and Google including winning Nvidia’s Pioneers of AI Award.

Last 2 trades full ask buys at 4.1p. Will this make a 4p close, currently Up 2.6% on volume of 2 million. If not today then surely tomorrow to end a very good month for SEED.

Read the RNS that starts with this:

“ RNS Number : 1112E

Blue Star Capital plc

28 June 2023

28 June 2023

Blue Star Capital plc

("Blue Star" or "the Company")

Half-Yearly Results

Half-yearly Results for the six months ended 31 March 2023

Executive Chairman's Statement

I am pleased to report Blue Star's half-yearly results for the period ended 31 March 2022.

Highlights

· The Company's two principal investments, representing approximately 94% of the portfolio's value, continue to make steady progress. No new investments were made during the period.

· The Company incurred a pre-tax loss for the period of £1,165,942, (H1 2022: loss £996,806).

· The cash position of the Company at 31 March 2023 was £155,563, compared with £113,416 as at 31 March 2022. The value of the portfolio of quoted investments held by the Company at 31 March was approximately £147,000.

· The NAV per share as at 31 March 2023 was 0.2p.”

If you carry on reading it you will find information on all the investments but considerable detail on Satoshipay and Dynasty.

I just watched Ed’s 1 minute video about the buy back. It’s well put together and puts a lot over in a very short space of time. It’s already been viewed over 3700 times which is promising for indication of the interest level in SEED.

Yes as per the RNS:

“ the fact that the new long-stop date is less than a month away reflects the counterparties' view that completion is imminent."

"Scirocco Energy" or "the Company")

Ruvuma Transaction Update - Longstop Date Extended

Scirocco Energy (AIM: SCIR), the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, today announces an update regarding the Ruvuma transaction.

Although significant progress has been made, in order to allow additional time to complete the transaction, Scirocco and ARA Petroleum Tanzania ("APT") have executed amendments to extend the longstop date of the proposed transaction from 30 September 2023 to 20 October 2023.

As announced on 3 August 2023, Scirocco received the Tax Clearance Certificate and settled its assessed tax liability representing a major milestone towards final completion. Scirocco then wrote to the Tanzanian Minister for Energy to obtain the final approval which is expected in due course.

On receipt of this approval, all conditions precedent to the transaction will be satisfied and Scirocco and its counterparty APT will be able to proceed to complete the transaction.

Commenting on the update, Tom Reynolds, CEO of Scirocco, said:

"We are actively engaged with the relevant authorities in Tanzania to complete this transaction in short order. We maintain positive dialogue directly with the Ministry of Energy and feel confident that things are moving in the right direction. This further extension is a prudent approach to provide more time to receive the necessary final approvals and the fact that the new long-stop date is less than a month away reflects the counterparties' view that completion is imminent."

Up 4% this morning to 3.9p on volume of 552000 all buys. 4p has been paid so strong possibility of being 4p+ at the close.

“ We think these test results will make big pharma take notice, given the highly lucrative immuno-oncology industry”

A very powerful statement from people who really understand how Big Pharma think. Vulpes hold 15% of SCLP so they also have considerable commitment and strong belief in SCLP’s science.