Member Info for optimist13

Busy reading through the RNS again as there is a lot to digest.

The purchase price is $30m and the Comarco net assets are $36m, so it would appear AAAP shareholders can expect to see decent growth in the share price.

Comarco also have to raise $6m to settle existing debts. Not quite sure how that is going to work.

AAA Chairman, David Lenigas, said:

“This transaction marks a turning point for Anglo African Agriculture. One of AAA’s primary reasons for becoming involved with Comarco Group is based on the Company’s belief that ports are long term growth assets and this particular port is of considerable strategic importance to East Africa. While Mombasa has long served as a key port in East Africa, the recently constructed railway project linking Mombasa to Kenya’s capital city Nairobi has significantly reduced the journey time by 7.5 hours compared to the previous railway line. Large scale infrastructure improvements such as these only add to Mombasa’s strategic importance in the region.

We have further been encouraged by the recent oil and gas transactional activity in the region and the ongoing liquefied natural gas focused work in Mozambique, all of which bode well for Comarco Group’s marine logistics focused business. We are delighted to have reached agreement to acquire Comarco Group and we look forward to concluding the fundraising and the transaction in due course to set the Enlarged Group up for an exciting future.”

Comarco Group CEO, Simon Phillips, commented:

“We have been working with the AAA team and their advisers for many months now and quickly came to the conclusion that an RTO of AAA was a good opportunity to access capital markets to drive growth in the group”.

There we have it.....an RTO of Comarco

https://investegate.co.uk/anglo-african-ag-plc--aaap-/prn/proposed-acquisition-of-comarco-group/20190610070000P3808/

kitlow - nice one. I am hoping to get a few more next week if there is any weakness in the price. However, with news due quite soon, I can't see it unless there is a distressed seller out there.

Gunsynd notes the recent movement in the Company's share price and wishes to announce that the Oyster shareholder meeting is due to be held on Friday, June 7, 2019 at 10:00 a.m. Vancouver time (6:00 p.m. UK time) at Suite 2200, HSBC Building, 885 West Georgia Street, Vancouver, British

yoshie - yes he is. Like myself, he is a long term holder in Gunsynd and has sold down some of his holding. I have done the same, but still retain a decent size holding.

from Neil Scott on the other side:

scotty6667 Jun '19 - 13:17 - 2113 of 2114
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Funny old world.

I see Sunshine Minerals where GUN hold 20% have filed in Solomon islands so alive and kicking.

Human Brands where GUN have a CLN and take a 4% fee, by all accounts are going to IPO shinjuwhisky which they own 100% before going to IPO themselves, unconfirmed but this is from their brand update;

• Shinju Initial Public Offering via Regulation A+ at $5.00 per share ~Q3
• Human Brands International, Inc. Initial Public Offering via Regulation A+ at projected $50.00 per share ~Q4 2019

https://docs.wixstatic.com/ugd/cf7f2f_0f3912ad7668491e8b77873fbdcdc2f2.pdf

Buys going through on both exchanges this morning.

Could possibly be the last time to buy below the last placing price if the news in the next couple of weeks is deemed value enhancing.

due next month, and with both trading companies now profitable and hopefully some fees from Comarco, there should be plenty of positive news.

AAAP reported a net loss of £147k for the first six months of last year. Let's see if we are close to break-even or profitable for the first six moths of the current trading year.

Major announcement from the Mozambique Govt. on the 19th June regarding LNG facility and Comarco will be part of it.

From the Comarco Twitter feed:

"Comarco has been involved in oil and gas projects in Mozambique for more than 30 years and is well set to utilise its marine equipment, beach landing expertise and regional experience to take part in this logistically challenging project."

https://www.anadarko.com/News/Flash-Feed/Mozambique-LNG-Update-2/

Extract:

MAPUTO, Mozambique May 8, 2019 – Following a meeting Tuesday, the President of Mozambique His Excellency Filipe Nyusi and Anadarko Petroleum Corporation Chairman and CEO Al Walker announced plans for Mozambique LNG to make an important announcement during a celebratory event on June 18, 2019 in Maputo. It was also noted that all issues under negotiation between the Government of Mozambique and Anadarko have been satisfactorily resolved.

“We expect June 18 will become a historic day in Mozambique as we announce that one of the most important and transformational projects in our country’s history is ready to advance to the next stage,” said His Excellency President Nyusi. “We recognize Anadarko’s continued commitment to moving this project forward to becoming a reality.”

The buying continues, but the trade is showing as a sell......

Still plenty of smoke and mirrors in the results, but at least they have confirmed that the company will be debt free by the end of this year providing EdS continue with their repayment schedule:

"Liquidity

The above strategy has been determined by the on-going financial position of the Group. From a position in late 2015, when the Group was close to insolvency, the financial position has gradually improved. The main borrowing of the Group remains the secured BPAC loan, which, after the year end, has been rescheduled for repayment on 30 June 2020. During 2018 £0.4 million interest was repaid on the BPAC loan, in line with the board's strategy to prioritise the repayment of the most expensive debt. The Group also made inroads in paying other creditor arrears with trade and other creditors falling by £132k in the year. The Board is working to a projection that, so long as funds continue to be received from the Argentinian operations in line with the level that EdS has forecast, will result in the Group becoming free of secured debt in 2019."

kitlow - they only trade on NEX and not all brokers deal in the shares. If you want more information I would suggest you take a look at the NEX website.

https://www.nexexchange.com/

Hi kitlow, if you look at the AAAP businesses and the AfriAg investments, there is clearly synergy between the two companies.

I hold a large stake in AfriAg and believe the existing investments will be sold off when the Apollon RTO takes place. Whether AAAP benefit from this remains to be seen, but DL and the other directors clearly have much bigger plans for this main market listed company.

From the dark side:

the abbot6 Jun '19 - 07:24 - 1390 of 1390
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RNS Resolution proposed for Mr Gordon Fisher by YF Finance.

Mr Fisher if you are reading this board, I will pledge my vote for you, I hold a little over 1.2 million shares.

Buys going through as sells again due to the MM's widening the spread.

My top up, so I know the information is correct.

Excellent news.....we may now start to get some meaningful information from the company.

It will be very important for ALL shareholders to complete their form to approve Gordon's appointment.

My mistake. No trades on NEX today.

A few trades today on both exchanges. The MM's now have the spread very wide which can sometimes put PI's off.

I added a few more today as I don't think further news can be that far away.

Patience, patience, patience.

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RUR/14100113.html