Member Info for optimist13

buys going through as sells again I see....

Added a few more this morning. Expect there will be a lot more interest when the terms of the Mozambique contract are announced next week.

The new Agulhas Group will have seven trading divisions and I expect there will be many further contracts to be announced once the new business has the funds to expand.

Carrefour - not sure if you have interpreted his post properly. We will only have circa 5% of the new company, so yes, we are being swallowed up for the greater good.

The transaction share price of the RTO does not reflect the enterprise value of the new company, and IMHO, this will become apparent as more information is disclosed and the terms of the fund raise are known.

Bear in mind Mike Joseph owns 30% of the company, and he anticipates making a very good return on his investment. His buy price was 0.50p, so I would imagine he will be looking for a considerable return from there, as am I.

Deepsurvey - good luck with your investments, but I believe it will prove to be a bit premature selling near the bottom of the cycle.

Comarco have announced two significant opportunities recently, the LPG facility at the Comarco Port and the inclusion in the major Mozambique LNG facility will is being officially launched by the Government next Tuesday 18th June.

We do not know at this stage the composition of the £15m fund raise by VSA Capital to facilitate the expansion of Agulthas Group Africa, but I suspect it will be above the last placing price given the information now available and the opportunities for the new business with a Main Market listing.

5% of a business that could potentially double, triple or quadruple in a short space in time from the current levels looks a possibility. You only need to look at the net asset values of port and logistics/supply businesses to get a sense of the opportunity.

At the current share price you are buying the Comarco assets at a significant discount and I believe that will change very quickly when further revenue enhancing deals are announced.

further coverage of the announcement:

https://www.pulselive.co.ke/bi/finance/mombasas-marine-logistics-company-get-sold-for-sh36-billion/eey1fh9

a bit of coverage in the news on the RTO:

https://www.businessdailyafrica.com/news/UK-firm-in-Sh3bn-buyout-of-Kenyan/539546-5152648-6n718i/index.html

they haven't got the all of the facts right though, as Comarco have to raise the $6m to pay off existing debts and settle the capital gains tax liability.

993444 - relative to the net assets of each company it is not such a bad deal. Comarco £27.69m versus AAAP of £570k and the Main Market listing.

Bearing in mind that Mike Joseph owns almost 30% of AAAP, I would expect any options or warrants would be at least 1.00p given the terms of the last placing.

Latest Trades
Date & Time Volume Price
11/06/2019 08:42 5,000,000 0.105

kitlow - no idea, but as they have been working on this for quite a while, I would imagine it shouldn't take too long.

I would also imagine they would want to benefit from the publicity that will be generated from the LNG contract in Mozambique which will be formalised on the 18th June.

Just bought another 500k at .00437. MM's dropped the offer on no trades that I can see.

MM's playing about with the price at the moment. Can currently buy at 0.465p ....tempted

this Friday to approve the issue of shares to enable the RTO to move forward.

Let's see how DL promotes this once the GM has been approved.

Andrew Monk
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@AmonkMonkey
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AAAP has announced today it is acquiring ?@ComarcoGroup? port at 0.5p Also a change of Board to come - buying the port at the bottom of the cycle and also it is strategically on East coast of Africa very important - Ports great long term investments

I think that price will seem very cheap by the time the RTO takes place and we are known as Agulhas Group Africa.

Mike Joseph
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@benchpressmike
59s59 seconds ago
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This could be a monster #sleepinggiant just as well I own nearly 30% of the company #AAAP @DavidLenigas @AmonkMonkey

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Don't forget, Andrew Monk of VSA Capital is also a non-executive director of AAAP and holds 12.1m shares, which were purchased at a significant premium to the price today.

Carrefour, there are several aspects to this deal and I think you will find 'the market' is waiting until further information is made available, but for current investors in AAAP I think it is a good deal.

The transaction price for the respective valuation of the two companies, AAAP and Comarco, is 0.50p. Using this figure, it gives a mkt cap of £1.94m versus net assets of £570k. The net assets of Comarco are $36m but the transfer value is only $30m.

So, AAAP is receiving well over their net assets, whereas Comarco are receiving a discount. The costs to achieve a Main Market listing are significant, which is probably why we are seeing a premium to net assets.

We know there are major announcements to come from Comarco regarding the LNG development in Mozambique and further news regarding the Comarco Port development. Once people understand the significance of the developments, I expect VSA Capital will expect to raise the $15m at a significant premium to the 0.50p RTO price.

I don't know what multiples Main Market listed Ports achieve (perhaps kitlow knows), but I am pretty sure they do not trade at a discount.

Mike Joseph was very pleased this morning when the deal was announced, and I am sure he is expecting a significant return on his large investment.

I believe the shares are excellent value at the current price and should deliver significant returns once further information is released and the implications digested.

David Lenigas
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@DavidLenigas
3h3 hours ago
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Anglo African Ag PLC: Proposed Acquisition of Comarco Group. This deal is a fantastic deal and has taken a very long and detailed process to get to here. Read it. https://www.investegate.co.uk/anglo-african-ag-plc/aaap/proposed-acquisition-of-comarco-group/20190610070000P3808/?fe=1&utm_source=FE%20Investegate%20Alerts&utm_medium=Email&utm_content=Announcement%20Alert%20Mail&utm_campaign=Anglo%20African%20Ag%20PLC%20Alert …

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I see the buy price has moved straight back up to 0.485p...

Well, the deal looks good to me. I can't see VSA Capital having too much trouble raising the $15m given our Main Market listing and the opportunities to significantly grow the business.

Just added another 500k. Can see the share price moving up quickly from here once people understand the significance of the deal.