Member Info for optimist13

"The sole significant change in the trend in production, sales and inventory, and costs and selling prices since the
end of the last Financial year until the date of the SRD is that the Port has been gazetted in June 2019 as an import
and export point into and out of Kenya. The Port was an EPZ that was did not have the authority to act as an import
and export point. The gazettement has resulted in immediate and ongoing contracts resultant in additional
monthly income (for the new services). Whilst not possible to quantify the effect on financial performance and
position of the gazettement, the Current Directors, Proposed Directors, and the Company believe that this new
status will immediately facilitate a diversification of the range of goods and services which Comarco Group can
import / export as a result and which should result in increased turnover."

The document is 170 pages long and covers every aspect of the business. I found the statement below near the end of the document, which confirms the company clearly anticipates a substantial increase in traffic through the Port at Mombasa.

"This is evidenced by the Comarco Group winning a substantial contract to export 600,000 metric tonnes Iron Ore, already underway and renewable
annually. Similarly, the Comarco Group has recently concluded a contract to import a quantity of 8,500 metric tonnes of Coal in October 2019 with a view to finalising an annual quantity upon the successful handling of this initial consignment."

http://www.aaaplc.com/media/191104_Commando_Share-Registration-Document_FINAL-compressed-1.pdf

Couldn't agree more, and we already know that Comarco have secured significant contracts for the Port, with revenues commencing from July 2019.

The big question is what price the shares will be in the Prospectus. At 10p this would be at a discount to NAV of the new company. With significant new contracts, I would expect the placing to be a lot higher, especially if the company forecast a sizeable profit for the second half of the year.

Looking forward to the next update.

Chelsea, don't disagree with you, except AAAP is listed on the Main Market, not AIM.

Looks like the RTO process is continuing. Shares consolidated today and now withdrawn from the NEX trading platform.

We shouldn't have to wait too long before the next update.

For those who haven't seen it, the presentation from the new company is well worth reading:

http://www.aaaplc.com/media/Commando-Final-Presentation-20191001-01-Public-2.pdf

Doesn't surprise me with the consolidation taking place. Some brokers prevent trading once the record date is announced until the date of the consolidation.

I couldn't buy yesterday on Interactive Investors, but I could buy on Barclays.

I hope nobody has any stop/limits on their shares. Not sure how it actually works in practice with a consolidation, but at today's share price, the bid/offer tomorrow will be 8.00p and 9.00p .

https://investegate.co.uk/anglo-african-ag-plc--aaap-/prn/share-consolidation/20191029131941P1E8C/

I wonder if the shares will be suspended on Thursday pending the issue of the Prospectus and IPO with Comarco.

Worth a read.

https://www.fircroft.com/blogs/is-mozambique-the-worlds-next-great-energy-superpower-92962314572

Is Mozambique the World's next great energy superpower?

Extract:

Like many other countries which have suddenly found rich and abundant natural resources within their borders, Mozambique is taking proactive efforts to ensure that local people and businesses benefit. A robust set of local content policies have already been implemented. Known as the ‘National Content Strategy’ the policy focuses on three pillars:

Operators are encouraged to employ Mozambican citizens with appropriate qualifications at all levels of their organisation (or as sub-contractors).

The development and implementation of effective training programmes for Mozambican employees in each phase and level of operations of projects.

Operators are encouraged to engage in the preferential purchasing of local goods and services when internationally comparable in terms of quality, availability, quality and price.

With such policies in place it is hoped that Mozambique’s local workers and businesses will be able to derive a short and long term benefit from the country’s hydrocarbon windfall.

https://www.aljazeera.com/news/2019/10/nyusi-wins-mozambique-presidential-poll-landslide-191027131523719.html

Nyusi wins Mozambique presidential poll in landslide

Extract:

During his second five-year term, Nyusi, of the ruling Frelimo party, will be responsible for overseeing a gas boom led by oil giants such as Exxon Mobil Corp and Total, battling an armed rebellion and delivering on a peace deal signed two months ago.

but worth re-reading as the RTO is on course to complete:

https://www.standard.co.uk/business/market-minnows-anglo-african-agriculture-a3926361.html

Share Consolidation

The terms of the Share Consolidation are that every 20 Existing Ordinary Shares of 0.1 pence each in the capital of the Company will be consolidated into 1 New Ordinary Share of 2 pence each in the capital of the Company. The record date for the Consolidation is 25 October 2019 and the New Ordinary Shares will be admitted to trading on the Standard Listing segment of the Main Market of the London Stock Exchange on 30 October 2019 (the "Admission"). At that time, on Admission, the Company will have 19,399,198 New Ordinary Share in issue. The total number of voting rights in the Company after the Share Consolidation will therefore be 19,399,198, this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules.

Upon Admission, the New Ordinary Shares will trade under ISIN: GB00BKBS0353 and SEDOL: BKBS035 with TIDM: AAAP

All resolutions approved:

https://investegate.co.uk/anglo-african-ag-plc--aaap-/prn/result-of-general-meeting-and-share-consolidation/20191025092158PD7B5/

AAAP GM tomorrow to approve RTO, consolidation and equity raise. Don't think there is any doubt all of the motions will be passed and with any luck not too long before we hear further news from Comarco on contract wins both for the Port and the LNG projects in Mozambique.

Interview with David Orton, CEO - GyroMetrics Systems:

https://www.youtube.com/watch?v=FE49nJ6OaAI

Don't think it is going to be long before further downstream contracts are announced given the recent announcements by the various consortia:

https://www.reuters.com/article/us-exxon-mobil-mozambique/exxon-will-not-take-final-decision-

/news/2019/10/10/exxon-awards-13-billion-in-mozambique-lng-contracts
Extract

"Exxon approved spending of more than $500 million for preliminary works before a final investment decision next year, the energy giant said Tuesday from the Mozambican capital, Maputo. Exxon’s plant is planned to produce 15.2 million tons of LNG per year, higher than another project that Total SA is developing in the same region with capacity of 12.9 million tons."

Just re-read the presentation. Once the RTO completes and the contracts are announced, I foresee significant interest from Institutional Investors.

https://www.comarcogroup.com/news/2019/notice-of-gm/Commando%20Final%20Presentation%2020191001-01%20Public.pdf

Extract:
Balance sheet underpinned by port valuation of
$53.4m plus $18.2m of marine vessels and port
equipment.
Port property appreciating annually
Acquisition of Comarco at a discount to NAV at
the bottom of the cycle.
Port in unique strategic location at gateway of
northern corridor.
Strong pipeline of opportunities extra to the
Mozambique LNG project.
Coming out of the bottom of a cycle with
business ramping up.
Massive projected growth and spend in East
African region, including $55bn Mozambique LNG
project, which commenced in September 2019.
Recent gazettement of Comarco Port to function
as a complete private port, complementing the
Mombasa Port, to diversify revenue streams.

Not sure if this link has been posted on what will be the new Agulhas Group:

http://www.aaaplc.com/media/Commando-Final-Presentation-20191001-01-Public-2.pdf