Member Info for saintpeter7

I know we should not discuss other shares on this BB and so I will only make this one comment. Thank you for the direction to Acorn. I note that the current mcap is not much more than the cash they raised. With all the other factors to take into account, which I shall not detail here, it looks like a very good buy right now.

Either tomorrow or on Thursday. My last experience of this situation was with LIFE, which had to do an RTO and they left it until the day of suspension to announce they were to take an interest in the Diabetic Boot Company. That is being worked on at present and an announcement will be made in due course. I am expecting the same to happen, simply because there is insufficient time in my view to deal with the regulatory and legal requirements. I might be wrong, but it just seems the most likely outcome.

I see he resigned from Acorn Growth on 15 November when they had some board changes there. By the way, interesting share that at very first glance - will need to do some research! Did he resign because of his commitment here I wonder or had he simply done what he had been required to do at Acorn? The plot thickens!

From my post of 17 October: "I note from Guild-Ventures website that he (Manish Karani) has a fellow director in Charles Goodfellow of Peterhouse who's specialty areas are stated to be oil & gas, cleantech renewable & technology space. May be a red herring, but no doubt we shall see in due course" Totally agree that Peterhouse will ensure that they and the CUL investors do not lose out. Won't happen. Dependent on whether any detailed RNS on the RTO is issued before the market opens tomorrow or not, the choice will be whether to buy and hold through suspension whilst the deal they are no doubt working on is finalised or not.

Totally agree. I have no doubt that something will be arranged for Tengri whether it be before Thursday or after. If after, investors will have to put up with suspension for a while (how long who knows) but a deal will be done. After all we have all the CUL holders who will want their gains!

Hi Vienna - surely KENV will be developing that; why pass it over to SMA. Whatever the RTO, we do know that there is a potential one bagger or more from this price. I have two shell companies in my portfolio, GWIK and LIFE. So I am used to waiting for news! But with good directors in charge, it does instil confidence that SMA will come good, just like those two. (LIFE awaiting detail, but entrepreneur Jim Mellon involved).

Thinking about this further, I suspect that our speculation will not be right as why bring in Manish Karani, the founding partner of a boutique private equity firm. I must say I had discounted the Salim Group using Tengri as a vehicle for one of its assets, when he was appointed and more importantly the way the company raised the £750K.

I'm not actually invested at present, but have been and suffered a loss when I decided to sell when all looked doom and gloom mid November. Typically a few days later the SP shot up again on reiteration of the RTO news, but we learn by our mistakes! Should have given it more time. Tomorrow, I may take the plunge. Not sure at the moment and of course if an RNS is announced before the market opens and the SP shoots up, I shall be too late. We shall see!

Wressmycase - they were my initial thoughts when I first invested. Don't know now, but the Salim Group I suppose might fund Tengri for the £6m it needs to be an investing company if it were not to pull off an RTO in the nick of time. Pure speculation of course. Robust Resources still own over 60% of the shares and having waived monies owed to them, it could be a way for the Salim Group to receive some of the write off of their subsidiary. Who knows?

Robust Resources Ltd is a subsidiary of The Salim Group, an Indonesian conglomerate.

Apologies re my misunderstanding at 15.38 this afternoon. There was no intent to mislead I assure you. From the AIM rules: Within six months of becoming an AIM Rule 15 cash shell, the AIM company must make an acquisition or acquisitions which constitutes a reverse takeover under rule 14. For the purposes of this rule only, becoming an investing company pursuant to rule 8 (including the associated raising of funds as specified in rule 8) will be treated as a reverse takeover and the provisions of rule 14 will apply including the requirement to publish an admission document.

My understanding is that the shares are likely to be suspended and that the company then has 6 months to arrange an RTO before the AIM listing is cancelled. So as we are so close, I suspect that the market will hear tomorrow that the shares are to be suspended whilst the Bod finalise an RTO. Certainly with the current mcap at c. £1.9m and the company having raised £750K, there is an argument for investing. An AIM listing is worth c. £600K and so when that is added on to the cash, in terms of value, there is not a huge gap between the total of c. £1.35m and the current mcap for the added value of a new business via the RTO.

I'm hoping for the details of the RTO to be announced in the next 10 days. Why 10 days; well it would fit in perfectly with a break up out of the falling wedge pattern which has the top and bottom lines of the wedge meeting at 0.42 and it is normal for any break to be made before the lines converge. With a support level at 0.45, that fits well. Obviously, an investment decision on SMA cannot be decided alone on this basis. Chart patterns only work a certain percentage of the time. Anyone interested in this pattern this explains more:- https://www.tothetick.com/bull-falling-wedge If this happens, one would be looking for a new high from the breakout of c. 0.93. Volume is important for any breakout. Naturally that would come from an announcement of the RTO detail.

Are you sure it was a buy? Looking back at the price range at that time on Wednesday, it looks more like a sell. If not was, is it possible that it was a sale by one of the CULS holders in advance of them converting?

Patience is a virtue! Perhaps my prediction a week ago may come true.

You may well be right, but there will be almost three times as many shares on the market at there are now when the CUL holders sell the shares they receive when converting their loan notes. If the market price is say 4p, they are certainly going to do well out of the RTO. I hope all pi s do too. GLA

Apologies for an error in my calculation just posted - the average price would be 0.926p per share. Please do check my figures as I should have done.

According to my calculations, the CULs holders will be paying 0.3p per share for their shares. This is based on this statement from the RNS of 1 November: "Upon conversion, the CULs Investors shall obtain new Ordinary Shares in the Company equivalent to 65.54% of the enlarged share capital of the Company, based on the current issued share capital of 113,918,497 ordinary 5p shares following the issue of the Robust Shares." IMHO in other words, the CULs investors will own 65.54% of the share capital after the issue of the shares to them arising on conversion. So the number of ordinary shares in issue will be 330,585,164 after the conversion, as they will own 216,666,667 (65.54%) and the current holders the 113,918,497 (34.46%). I arrive at the 0.3p conversion price by dividing the cost to them of £650,000 by the 216,666,667 shares they will receive. IF we assume that the placing at 5p was made to the same investors as the CULs holders, they would be getting their shares in the company at an average price of just under 1.16p per my calculations. Whether that makes any difference to a decision to invest or not, it is up to each to decide, but I hope this is useful.

Interesting p00rman. I must admit I do not know much about the politics of the country, other than that the lady was hard on mining companies there. Will we see a more conciliatory course of action? I understand the need for mining companies to be as environmentally kindly as they can and to involve the local community in providing jobs and boosting the economy. If that has not been the case, fine, action should be taken, but with fair discussion and agreement. I just wonder if the potential major investor is interested in the company's current activities or wants to take the company in a different direction. We shall hopefully be told in due course.

Large but this morning - all of £13 spent!