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There has been no announcement yet. Suspension occurs 1 year after becoming investment company. 6 months of suspension then delisting occurs.
Hi, I first read this in the 2015 annual report "The transaction was approved at a General Meeting of the shareholders on 23 December 2014 and the transaction completed on 24 December 2014." So I thought it would be 24th of December 2015. However another poster on ADVFN posted his email response from CSI. 'Under the AIM rules when we sold our business last December and assumed investment company status, with an investment policy approved by our shareholders, we had a period of 12 months to enact the investment policy. All things being equal, if the policy is not implemented then our listing would be suspended from December 28th. We would then have a period of 6 months to implement the policy before our listing lapsed.'
Half day tomorrow and closed on Christmas day. Then on Monday the shares will be suspended for 6 months as it is looking like they need extra time to complete the RTO. I have decided that it is worth holding into the suspension as the value uplift will be worth it. Worth restating that MXCP have organised alot of successful reverse acquisitions previously. In addition, there are new large investors (Hargreaves, SPARK and Griffiths) that have invested recently into this cash shell.
Sorry typo I meant when will they delist cronin not Adams. As cronin's market cap is so small like with Sarossa.
Hi Sid, Sagacity also put Charles Robert VIVIAN (a MXC capital guy) on the board in September. MXCP own 26.5%. In 2014 they made £909,913 profit and have £999,716 cash in the bank. Alternatively, it could also be Maytech. MXCP own 25%. In 2014 they made £895,146 profit and have £1,138,971 cash in the bank. Both look like good companies for a buy&build up market cap strategy.
Here is some info on React and a piece about Adam Reynolds. It is a good read. http://issuu.com/ukinvestormagazine/docs/ukim-dec2015?e=17910782/31960956
Someone else was also hinting about the american connection. Thanks for the clue.
Hi LordBachmeier, Please let us do our own digging. Point us in the right direction and give us a clue how you came to your conclusion. My guess is Sagacity solutions.
Oops typo I meant know not now. Griffiths also let his friend Robert Quested sell out before he announced ORA capital delistingl. AIM regulation is a joke. People are allowed behave like crooks.
I would not trust Griffiths if I was you, I have already sold out. He will probably try to force the share price even lower so he can do his buy back slowely at rock bottom prices. With out letting the price rise. Did you see how the share price crashed just before the announcement. He has clearly let his friends now before the announcement. Bastard. Clear insider dealing.
Guys Griffiths has just delisted Sarossa. Screwing the small investors, just so he can buy back all the small shareholders stakes at heavily heavily discounted rate. He will make alot of money from this. He will also do this here and you ALL will have to sell your shares at heavily discounted rate. You have been warned.
Guys Griffiths has just delisted Sarossa (almost identical to Adams plc). Screwing the small investors, just so he can buy back all the small shareholders stakes at heavily heavily discounted rate. He will make alot of money from this. He will also do this here and you ALL will have to sell your shares at heavily discounted rate. You have been warned.
Griffiths screwed the shareholders just like with ORA capital. I guess he is doing it so that he can buy back most of the shares at a heavily discounted rate. He will make a fortune on his holding, everyone else gets screwed :( In future, I would not recommend buying any small holding where Griffiths is the majority shareholder. He seems to have a habit of screwing small shareholders.
They are delisting from the AIM :(. Sell out now if I were you.
They have to announce the reverse acquisition soon so that they can have a agm sorted out in December. InvestorMAN, have you have heard the process has moved forward?
Arysta LifeScience have walked away from selling and marketing of PHC Harpin αβ Seed Treatment as no one wants it. Ow dear. Still other products are in the pipeline.
Maytech Communications: is loss making (£-360k) in 2014. Sagacity solutions: profit 2014: £910k, (2013: £939k). 2014 Cash: £999,716M, (2013: £628,797k) I think Sagacity, Web services integration and Control F1 look the most interesting.
Control F1 looks good £2.1M turnover in 2015 (2014: 0.5M), so it is growing nicely. Redline turned profitable in 2014 (£12,096). WEB SERVICES INTEGRATION 2014 profit £756,391 (2013 £1.55M) They all seem nice little small companies. Maybe a couple of the companies could be bought and merged together. I am sure there is some synergy to be had.
Still a large sale overhang here apparently. It will pass once all the people who do not like the merger/dividend holiday have gone. Then back to 450p. It reminds me of Optimal payments as the same thing happened there recently.
The largest shareholder Richard Griffiths acquired his stake in Sarossa at average price of about 2.4p in 2011 from my analysis. That puts him underwater. I am wondering why he has not forced the price up (by restricting stock) to at least break even level by now. Perhaps it is because they still want to buy stock back. At 2.4p any buy backs they want to do would still be at a big discount NAV.