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Was there any news today?
Completed the acquisition of three residential blocks in Germany, in the process of completing the fourth. New shares priced at 17p.
Apologies for the late reply. Yes I agree this is very positive news. A deal seems to have been all but agreed as there were no indications prior to this of a change of strategy to focus solely on property development in Germany, which in itself is a positive low risk investment. It also appears that the directors are remaining and that they have a strong conviction in pursuing the German property market as they have a vision of further acquisitions of property in addition to the named four properties. The change of name seems like a standard cash shell RTO procedure. For the price of 17p I believe they are confident of raising the total amount of £20m for the consideration shares. Cash shells need acquisitions for growth and what better way to begin than in property, which can later be used for gearing. Lets see what happens on the 25th!
No need to apologise MUAS. Just relax and enjoy the ride..that ultimately will come. There have been some wild movements but I'm sure something will come up very soon.
MUAS your patience is admirable and my belief is that it would have all paid off in not too long from now. I have no doubt that the 66m shares will be subscribed for, just a little more patience and Im sure things will be beyond our expectations. Also I contacted Mr. Goodfellow regarding the stepping down of existing directors and this was his response: "Good morning If you have not seen an RNS stating that we have stepped down, one could assume that we are still on the Board. For the time being. That may change however , as per the AGM statement. Best regards Charles Goodfellow" I leave this to experienced heads like Kvt, Hedgehog, YB and others to give us their views.
Thank you MUAS. I don't think there is much to worry about on the Australia end because the directors are changing and so too, i imagine would the connection to Australia in due course. They'd be crazy to leave the FTSE main market. Interesting you say scare tactics. Scare tactics from who and to deter investors for what reason?? Im eagerly awaiting a response from Hedgehog too as he always presents us with wonderful insight.
What is with the unusual drop? Any explanation other than pound drop?
You and Doc were very right!
You and Doc were very right!
Hedgehog, There seems to be quite a bit of selling considering the resolutions have all passed. Now the name has changed can we safely say the exchange has taken place? Also the issuance of 100million shares clearly means there must be a project ready for an RTO. What is your take on what has been happening?
Is this normal that all the resolutions have passed and no response in the share price?
Has anybody already voted or planning to attend the AGM? Strange that no influx of trades just yet!
Any idea why the volume has shot up from the past few days?
Hedgehog, Thank you very much, its good to finally be on board. I've actually uncovered quite a bit of information that I will share once I have authenticated it. But it's beyond our wildest dreams to say the least. With regards to the selling, I suppose its just a repeat of post 3rd August RNS..priced dipped back to 12.50 after the day traders cleared off. You are spot on that the buys are more significant than the sells. As you remember I was skeptical but having seen the last couple of RNS', Im not going anywhere now. What do you suppose would be the timeframe from the time of the AGM until an RTO? And do you believe the week prior to the AGM would see volumes reminiscent to monday/tuesday? Good to see you posts once again!
Does anyone have any idea how the major shareholders in ACO will be voting? I've done a bit of digging and found Orion to have vast experience and interest in the Real Estate sector..hence the sector additions and name change.