Duc11 May 2014 11:04
I would Imagine it's a scenario like the one below taken from Ducat's Website RE: Hansard Group. I.e a company completely non related wants to fastrack IPO quickly. We will end up with new shares in this new company at a preferable rate. Both directors have experience in this and it's seems like the thing they do. Duc is a perfect target with the low MCAP and the directors have probably encouraged this. All of this in my opinion of course.
The following from ducatventures.co.uk/rule-26.htm
Adam Reynolds (aged 51) – Executive Chairman
Adam is a former stockbroker, specialising in corporate finance. In 2000 Adam set up Hansard Group and listed it on AIM in 2001. Through, a reverse takeover, this became First Africa Oil and Gas, one of the most successful listings on AIM in 2005.
Nicholas Nelson (aged 48) – Non-Executive Director
With his broad knowledge he has assisted on several AIM and ISDX flotations providing logistical and PR support and has been appointed to the boards of numerous early stage public companies as part of their admission to the public markets