Member Info for mafioso

I’m personally praying for a SPAC boom, with loads of RTOs being announced in short order

Guys,

A simple explanation of warrants vs options.

Warrants are awards of hares at a set price whilst options are awards of shares for free.

In this case, Martin has been awarded the possibility of purchasing 2m shares At a set price of 25p per shares within a 2 year period. Ie he has to use £500k of his own funds to purchase.

He also has I believe 800k of options.

So simple maths. If sp hits a £1 in next 2 years Martin has chance to make 75p profit for every share warrant he purchases. So for the full investment t of £500k he stand to make £1.5m profit.

He possibly could fund the purchase of the warrant thru the exercising of his options so he is no outlay, but sp would need to be well both of 50pmtomdo that.

Either way, this is much better than simply offering 2m options as this would simply dilute shares and sp

Thanks guys for the views.. Very insightful.

Will have a ponder...

That’s right xv.

Both now entering technically oversolld territory, so was wanting to understand underlying causes on fundamentals before deciding what to do .

RMM is think I know why and what news is expected Arron’s fundraise . HZM, not so sure.
All I know is, it much lower that thenplacing it did a few month back.

Was hoping mining experts in group might have a further view on current sentiment here....

Hey peeps,

I’ve not been following these 2 closely the last couple of months. The last info I was for RMM which was seek to raise more funds as result of Covid. HZM lost track.

Anyone tracking these closely still and have a view of state of affairs with these?

Thank you kindly...

Not sure what is going on with this Spac following that RNS

No explanation of why they applied for AQSE listing in first place and now why they have withdrawn it. Sounds like it was rejected though....

I’m now seriously wondering whether this and RDGC will rto within 6 mth time limit set by AIM.

They may have tried to join AQSE to buy more time to close a rto deal and stay listed and avoid suspension post 6 mths. I believe if you are listed on AQSE as a SPAC you have up to 2 years to rto. I think this is what QTZ has.

RNS To me this looks like this request was rejected in the absence of any explanation

*chancing

Soap opera continues on this one...

My tuppence worth....
De merger looks to signal that GC is looking to turn RMS into P2F exclusive strategy. So if this goes ahead, I would expect a name change of company to come next to reflect new business model and this could rid it of the tarnished brand RMS has now become.

But GC himself is becoming known as a notorious maverick bod, who is primarily a clever scientist with potentially lots of ideas, But with not a great deal of commercial accumen or experience To lead a company to sustained profitable model.

Interesting to note that this demerger of Gyrometrics requires share holder approval , so intrigued to see where loyalties lie With shareholders now compared to voting last time out that was essentially became a GC vs TB popularity contest.

Anyway - mkt cap is £20m, £5m should be still in bank and no clue if their masks are being sold to Generate revenues or charitable donations to places like India (based on what GC said at Sunday Roast....).

Atvb to anyone changing their arm here....

GM is tomoz and Im pretty sure It still has 600m shares to place and churn so think this is short term rise....Until further news which is due end of H1 I believe

If target had a value of £40m or more, deal would have been done by now with RDGc only represtingma 10% dilution pre ipo. There is one such company JN has links to in this range...

But given we have been at this range for almost 2 months and deal not been struck, I can only conclude targets must be smaller and therefore dilution value of SPAC becomes more significant.

For SPACs you should not be comparing sp, but look at the valuation

At the end of the day it’s only a cash shell and more importantly it’s simply a mechanism to do a rto so it can only have a narrow valuation range as it has no intrinsic value until rto.

SPACs on AIm that have rto’d so far are MUST and FPP. The value post suspension of these was 50% premium to nav.

In the case of FPP the pre ipo target has a value of over £17m.So if RDGC is looking at a sub £20m target, then its current value is still looking toppy to close a deal imo

Looking like the value of the shell is putting off target companies, especially if their float value is pretty conservative

To do a rto a target company is giving up more of its value than it should to do a rto in cash shell which essentially is only worth 1.9m, but is carrying a value of £4m due to hype surrounding bod.

My guess is sp here needs to go down to 0.6 or 0.7 max for deal work. Only way it’s getting there is once deadline is reached on 6 July and no deal is done. Sp will drop prior to suspension form market and then Bod had 6 mths post suspeension to get deal done with no external market factors manipulating sp.

This is panning out same way as CCAP now

That sp was also overvalued by multiples of cash shell and sabotaged any chance of any rto.
It eventually suspended after 6mth expiry with sp falling back to nav.

This will end up same way imo

One last thing on this lads that may impact relist sp is the last fundraise that was done for £14m prior to deal, The 4.3bn new placing shares This represent were not put in open market prior to suspension and were given a 12 mth extension

They represent approx 30% of total shares (14Bn), so this could cause significant churn and overhang if they are released at point of relist, but just something to note as they could be released at some later stage which would be better for us

Hi Will,

It came under Corporate Actiion section of my portfolio, so can only assume it was a mechanism that had to be triggered to provde brokers a minimum notification of an imminent Relist.

The fact a specific date was not announced, leaves it pretty open, but if they don’t make relist by end of H1, I think I read somewhere that they may have to submit Q1 2021 returns to enter into prespectus as year end returns will have expired. I think they need financials that are not older than 6 mths for purposes of prospectus, but I may have misunderstood this,

But either way, the auditors need to move their arses on this as they are the ones ones holding this up and it’s been suspended longer than necessary

In terms of relist valuation, does anyone know if we will get visibility of the prospectus prior to relisting? At least then we will have a fighting chance of at melting to estimate a relist value,

Then the question is with all the investor following, how will this then open up. Will it open up on new propectus valuation and then over course of day or two spike or will it Open up much much higher for an absolute selling frenzy.

Got a notification msg today from II advising that COPL will be relisting in June, but didn’t provide an exact date.

Keep your eyes peeled, it’s coming.....

Nol,

Check MHC out, just topped up again...

Hey Fek,

If truth be told, I would have expected aRTO be done by now if a target was found.

I think the valuation of this SpAc vs it’s nav has been the likely issue here as it’s Probably been too high to negotiate a deal, if value of target was also relatively low This is just my thoughts based on what I’ve observed with other SPACS and that RNS the advisors put out in April

I reckon the closer we get to deadline day It will drift lower, but volumes have totally dropped the last week or so, so everyone invested is just waiting now

Well. We do know that by 5 July RDGC will be suspended deal or no deal....