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"OUTLOOK Since the year end the Company has traded very well, consolidating and growing the original business and absorbing the start-up costs of the two new acquisitions. Long standing clients continue to remain an important part of the business, but new clients continue to add a strong pipeline of contracts in both the public and private sectors. What we are delighted with is the number and increasing value of new tenders we are being approached on and the success with winning these. We look forward with confidence as we have a well-funded business, with substantial organic growth and additional opportunities to acquire niche businesses that add a further offering to our ever expanding client base. At present the market capitalisation of REACT Group Plc is small but I believe that if we deliver upon the opportunities forwarded to us this will change very rapidly."
I don't think it matters much. Nearly 60% is locked in and a lot of the balance is held by EIS investors I believe. Can't be of concern to AR either as he has over 6% since he is part of the vendor group. Try buying in size and you will find that there is very little liquidity at all most of the time. Anyway doubtless we will know a bit more In a few weeks or so. If it isn't for you don't buy.
MFL & Badger, just to clarify and apologies for o/t - React Group (REAT) was the specialist cleaning division of Autoclenz which was demerged last year and has its own quote post rto. Reynolds and the other vendors plus the board own 37% with Helium RSF owning 23% after they more than doubled their financial investment. Last November two new subsidiaries were established encompassing amongst other things asbestos removal. They obtained their asbestos licence last week - Badger I read your post and thought you might be interested. Please feel free to look in on my advfn REAT thread. It has been fairly steady and quiet since the rto so nothing has been missed sp wise.
Did Wray make a loss on his People's Phone investment, or Singers for that matter, when it was taken over by Vodafone? No. Wray and his cofounders made £2.5m between them and Singers made £9.8m. That was 20 years ago so in today's money not bad at all. Granted, they'd hoped to float for more but they still made a profit which is the point.
17. Change of Name The Directors propose that, conditional on the passing of Resolutions 1, 4 and 8, the name of the Company be changed to REACT Group PLC with effect from the date of the General Meeting. Upon the change of name being registered at Companies House, the Company's AIM symbol will be changed to REAT and its website address will be changed to www.reactbeyondcleaning.co.uk.
REAT
Yes: "The Board expects to announce further details of this Acquisition, and to publish an Admission Document before the end of this month. This acquisition will constitute a reverse takeover and will require shareholders' approval in a general meeting."
Flanks, fair does and I hope SJP do well for you. J5, good to hear from you and I keep a close eye but don't post much. Until Reynolds does the business, and I strongly believe he will, there's not too much to discuss. The premium placing price back in March took everyone by surprise and it will be very interesting to see how the next one is priced.
Just been catching up and I'm glad to read your comment. I don't hold Coms but follow it because of Breith's involvement here. There is no doubt that when sentiment is negative it hits small companies hard. Here we owe Breith for attracting the Helium investment without which Verdes would not have survived. We now owe Helium for attracting Reynolds who is a different kettle of fish with a string of concluded transactions which in the main have rewarded the patient investor well. What is vitally important to my mind is that the right deal is done. Deals per se are relatively easy to conclude but it is the right one which is needed here. I suspect Reynolds will be working hard to secure one for us. Can't guess when, of course, but the sooner the better imo.
7. Gearing / Funding The Company may seek further equity fundraising to implement its investing policy although this is likely to be undertaken at the time of the first acquisition. The Board will consider utilising debt finance in any acquisition, but generally only at proportionately low levels of leverage. The above was part of the announcement made in March. Everyone therefore knew then and knows now that there will be a fundraising. Adam Reynolds (brought in by Helium) will be central to matters now and he has worked with Helium successfully. Recent deals include OPTI & NIPT both of which raised funds and have risen substantially since. Reynolds has been in place since August and obviously thought this was worthy of his time. He has other business interests so hardly needed to come on board. His appointment seems to have gone largely unnoticed.
Not so sure about that. Good, however, that the share price is keeping in touch with the Helium placing price.