Member Info for optimist13

Also full ask paid this morning. The next decent buy price should be interesting.

Now paying over the bid for shares....that makes a pleasant change. I think it will only take a few buys to move both the bid and the ask.

DShox - I agree there has nothing been formally announced, but AAAP are acting as advisers and consultants to Comarco and I don't believe they will be doing that out of the goodness of their hearts.

DL reckons they have added significant value to the Comarco Group, so for me it is just a waiting game now until this is confirmed by way of new agreements and contracts.

Oops....contracts, not contacts.

Absolutely none. Patiently waiting for the GyroMetric's contacts....then all hell will break loose.

Kenny, I can't see the point in dredging up past posts. Clearly, the plan/vision DL had for AfriAg has not gone to plan. I am more interested in the implications should this RTO go ahead and what it will mean for LTH's.

Oh well....I have had a response from DL:

Andrew Oliver
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@Optimist13
18m18 minutes ago
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@AfriAgPLC @DavidLenigas DL very quiet this morning on the potential RTO with Apollon.

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David Lenigas
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@DavidLenigas
7m7 minutes ago
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Deliberate.

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I don't know how many people picked up on the loan we gave to AfriAg(Pty)Ltd last year. From the accounts:

"Related party transactions
Transactions between the Company and its subsidiaries, which are related parties, have been eliminated on consolidation and are not disclosed in this note. Transactions between other related parties are discussed below.
During the period, the parent company granted an interest free, repayable on demand loan of £117,00 to Afriag Global (Pty) Ltd, a South African company related to the parent by virtue of common Directors’ (with the group’s subsidiaries) in South Africa. This loan remains outstanding at 31 December 2018. (2017: no transactions to disclose)"

As they say, the devil is in the detail, but I would like to know why we gave an interest free loan to the company.

Kenny, also from the year-end results:

"Agriculture Investments:

Sadly, the market has not considered what has been achieved with our investments in the agricultural sector well, even though these investments continue to perform in a difficult global environment. We, as a Company, will assess whether further or continued investments in the sector is warranted, as we move towards the medical cannabis focus."

Our 40% holding in AfriAg(Pty)Ltd is on the books at £1.687m. If we achieve a little over book value, this would leave the £1m required for the Apollon investment after settling all liabilities.

Kenny, I have now read the RNS several times. In my mind, DL is changing tack and intends to complete a reverse takeover with Apollon. Dr Stephen Barnhill will become the chairman and MD of the company and the current assets of AfriAg Global will be sold.

DL has alluded to this in his statement:

"Pursuant to the Investments the Company would need to raise approximately £1m to subscribe for a total of 4.0 million shares in Apollon, representing circa 2.325 per cent. of Apollon’s issued share capital. The Company is considering all options in relation to the fundraise."

Whilst I am disappointed that AfriAg Global has not lived up to its billing, I believe we stand more chance of a recovery in the share price with an RTO in the medical cannabis sector.

Hi Kenny, hope you are well.

Not sure how this is going to work out for LTH's, but at least the possible RTO should attract more interest, especially given the medical cannabis field and the fact that DL has applied for a licence here in the UK.

Still trying to get a better understanding of the deal, but if I am correct in my assumptions, valuing Apollon at £40m, would make AfriAg's 6.46% worth £2.58m.

Clearly, Apollon would have no interest in AfriAg's existing businesses, so it will be very interesting to see what price DL achieves for the sale of those assets. I recall him saying at the AGM that there was a lot of interest from potential buyers for AfriAg(Pty)Ltd, so that comment could well be tested shortly.

"The Company is in discussions with the shareholders of Apollon to be granted right of first refusal to acquire all the issued and outstanding shares owned by those shareholders in consideration for the issue and allotment to those shareholders of new ordinary shares in the capital of the Company at a price of 0.1 pence per new ordinary share (“Right of First Refusal”) which values the transaction at circa £40,000,000.

Following exercise of the Right of First Refusal, which will be subject to approvals from (as applicable) (1) all the necessary government authorities, including the cannabis licencing authority (in Jamaica); (2) regulatory authorities; (3) approvals from the Company’s shareholders; and (4) approvals from the shareholders of Apollon, the existing shareholders of Apollon will hold circa 93.54 per cent. of the issued share capital of the Company. Following completion of the Investments and should the Company exercise the Right of First Refusal, the resulting enlarged group will be a vertically integrated medicinal cannabis group with operations in Jamaica and with plans to expand elsewhere throughout the world."

If this becomes a reverse takeover, I wonder how much we will receive for AfriAg (Pty) Ltd and AfriAg Marketing. It is possible that the sale of the two companies could fund our investment in Apollon.

David Lenigas, Executive Chairman of AfriAg Global PLC, commented;

“AfriAg is one of the very few companies in the UK and indeed Europe that is capable of doing a transaction of this type in the legal medicinal cannabis sector. Once the Right of First Refusal is agreed and exercised we will be the first listed company in the UK to be a fully integrated medical cannabis pharmaceutical company. The first £300,000 proposed investment in to Apollon will be targeted towards opening Apollon’s first revenue generation businesses at Doc’s Place Wellness Center and Apollon’s first dispensary and processing facility in Negril, Jamaica and will secure the option to acquire 660 acres of prime agricultural land for future cultivation expansion. I therefore urge shareholders to read this document carefully.

Subject to the Right of First Refusal being agreed and entered into, the exercise of the Right of First Refusal may constitute a reverse takeover under Rule 57 of the NEX Rules.”

https://investegate.co.uk/afriag-global-plc--afri-/prn/conditional-investment-in-medicinal-cannabis-company/20190516070000P08C3/

Could be this:

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

The directors and Comarco were talking about it last week.

More from Comarco on Twitter:

Comarco Group
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@ComarcoGroup
9m9 minutes ago
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We are very pleased to see the confirmation of the Anadarko FID set for next month, which start the ball rolling on the largest LNG project in Africa.
https://www.anadarko.com/News/Flash-Feed/Mozambique-LNG-Update-2/ …

Comarco Group
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@ComarcoGroup
9m9 minutes ago
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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.

Just found Mike's quote from last year. I was out by a few months on his prediction for a share price recovery:

AAAPRE: trades4 Nov '18
Mostly the impatient lose money, this is set to be a stellar share in 29, happy to be quoted on this, this time next year

I am sure there will be a lot more buzz when the next few pieces of the jigsaw are revealed. Mike Joseph didn't invest close to a million pounds for the fun of it. He did state at the time that it would be the middle of the year before he expected some movement in the share price, so I think more patience is required.