Member Info for Mandoo

https://www.lse.co.uk/rns/NSCI/result-of-placing-and-total-voting-rights-5cwaf2lr92avu04.html

Oversubscribed so £7.7m raised and a new institutional investor.

Couldn't agree more.

So on a fully diluted basis (post placing) our current market cap is circa £27m (@£1.35) of which £17m is underwritten by cash plus our investment in PDSB. So all of our other investments (including the deal with AZ) are worth only £10m apparently.

GLA and as always DYOR

They didn't - it was a misprint which was immediately corrected:

09-Jun-21 10:34:13 165.00 2,500 Buy* 160.00 165.00 4,125 O
09-Jun-21 10:34:13 265.00 -2,500 Buy* 160.00 165.00 -6,625 O
09-Jun-21 10:34:13 265.00 2,500 Unknown* 165.00 165.00 6,625

Best.

As someone pointed out yesterday @ £3.30 our market cap is only circa £50m of which £10m (or thereabouts) is essentially underwritten by our shareholding in PDSB.

GLA and of course DYOR

You're seeing the prices of trades from earlier this morning, which are just being printed now. Current spread is 135-138.

Best.

From the RNS dated 12th May:

'The Company and its auditors are working diligently to prepare and file the Interim Filings,
on or before June 30, 2021'

Based on the above relist could be the end of June, but more likely to be July in my view. Expecting an RNS towards the end of June to further clarify.

Good luck and as always DYOR.

Couldn't agree more. With the proposed cost savings this is now effectively a profitable company. Market cap is way to low for a company that turns over £26m+ and expects to grow.

"The Board expects growth from all business units and a return to profitability and cash generation post our restructuring."

Would be surprised if this is trading at these levels for much longer.

GLA and of course DYOR.

Just over 16.5 million for me. Fortunately all bought from ARB profit.

Thought it might be worth reposting my comments from the 16th March. My personal opinion, based on purely on the information released by the company, is that we will relist no sooner than 10 days after the 'effective date' - so the 6th May at the earliest.

ATB and DYOR

16th March
From yesterday's RNS we were told that it takes 20 days for the 'cancellation to become effective'. 'After the Cancellation Request becomes effective' the company will then apply for their new listing which according to the LSE website takes 10 days.

'After the Cancellation Request becomes effective, the Company intends for the enlarged COPL group, being the Company (and its subsidiaries) and the Target (and its subsidiaries) under the completed Atomic Acquisition (the "Consolidated COPL Group"), to make an application for admission to the Official List of the London Stock Exchange (by way of a Standard Listing under Chapter 14 of the Listing Rules) and to trading on the London Stock Exchange's Main Market for listed securities (the "Listing Application")'

Hopefully we'll get an RNS stating that the cancellation request has been submitted at some point soon. It was stated yesterday in one the RNS's that this would be done 'imminently' post completion of the acquisition.

ATB

I'd imagine the 're-base price' will be in the order of the figures presented in the presentation below...slide 6. Obviously the current oil price is slightly higher - so assumed market cap today would be somewhere nearer the £150m mark. If the debt is paid off efficiently or a divi paid (both of which were suggested) then the market cap could be circa 20% higher, so £180m or thereabouts.

http://www.canoverseas.com/wp-content/uploads/2021/02/COPL-Atomic-Corporate-Acquisition-Presentation-02-21.pdf

As far as I can tell the figures in this presentation only relate to 'proven' and 'probable' reserves and do not account for 'possible' nor 'undiscovered' reserves nor items such as Nigeria, an increase in oil price etc, - all of which, though speculative, could have a very positive impact on our market cap, and justifiably get us nearer the £200m-£250m figure in the short term. Longer term who knows....

ATB and as always DYOR.

The reason our shares have been suspended is that firstly, we are fundamentally changing the nature of our business and becoming a 'producer' as many other investors have already mentioned. Secondly, given that the assets/company we are acquiring (by way of RTO) isn't a 'publicly listed' entity, investors (existing and potential) and regulatory bodies (namely the FCA) are unable to conduct the necessary due diligence, and hence make an informed investment decisions at this stage. Thus suspension is a legal requirement under the Takeover Code.

Once the necessary due diligence has been conducted it will be presented into the 'public domain' by way of a pathfinder admission document and prospectus which are requirements of the re -admission process.

ATB and of course DYOR.

I hope you're right, but having re-read today's RNS I would suggest a minimum of 30 days.

From yesterday's RNS we were told that it takes 20 days for the 'cancellation to become effective'. 'After the Cancellation Request becomes effective' the company will then apply for their new listing which according to the LSE website takes 10 days.

'After the Cancellation Request becomes effective, the Company intends for the enlarged COPL group, being the Company (and its subsidiaries) and the Target (and its subsidiaries) under the completed Atomic Acquisition (the "Consolidated COPL Group"), to make an application for admission to the Official List of the London Stock Exchange (by way of a Standard Listing under Chapter 14 of the Listing Rules) and to trading on the London Stock Exchange's Main Market for listed securities (the "Listing Application")'

Hopefully we'll get an RNS stating that the cancellation request has been submitted at some point soon. It was stated yesterday in one the RNS's that this would be done 'imminently' post completion of the acquisition.

ATB.

This is taken directly from the LSE website. We have already appointed advisors, so a fair assumption is that it will probably take in the region of 8-12 weeks to relist.

12-6 weeks

Company and its advisers review pricing issues, host analyst presentations and produce drafts of key documents - including the prospectus.

8 weeks

UKLA sees and approves all documents. The company and advisers complete their due diligence, hold PR meetings and analyst road shows.

2 weeks - admission

The company makes it's formal application for listing and admission. This is granted and trading begins.

Post relisting, slide 6 of the document below gives an indication of the likely market cap of the 'new company' based on the information that we currently know.
http://www.canoverseas.com/wp-content/uploads/2021/02/COPL-Atomic-Corporate-Acquisition-Presentation-02-21.pdf

Goog luck & as always DYOR.

Assumed market cap based on $62 bbl. WTI is £146m so that may give an idea of share price post completion/suspension given today's oil price.

http://www.canoverseas.com/wp-content/uploads/2021/02/COPL-Atomic-Corporate-Acquisition-Presentation-02-21.pdf

But of course DYOR!

$2m+ buy in the US.
630k shares at $3.26

Ticking up again quickly in the US now. Currently circa $4 so about 64p equivalent. Personally think the, as yet unnamed 'global pharma', will buy us if the trial is successful. 'Try before you buy' type strategy. Think we'll see a big rise if and when the global pharma is named.

If it's 5 to 1 then we should be trading at about £1 now.

Yep over $6 .2 in the US now and rising.

all about the market cap. At £1.50 the m/c is only about £6m fully diluted. Over £1mil in cash, fully funded and growing market.

Good luck & DYOR

Indeed we don't hence why our shares are currently valued at 5p-6p a share. However what we do know is:

- that we have deferred rent for the period March-June
- have/are benefitting from business rates relief
- have furloughed a majority of staff
- that our directors have taken 'significant' pay cuts
- that we have a very strong balance sheet
- and that our Directors are seemingly very confident about our prospects

Given the above, I'm prepared to speculate that our cash balance remains comparatively healthy and that there is a significant upside to our current share price.

Good luck and as always DYOR