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Yes here’s original merger news
https://www.nasdaq.com/press-release/super-apps-holdings-to-become-a-public-company-through-merger-with-technology
It’s such a good deal for MBO if this merger goes through. Around £11m in cash plus shares in SuperApps (if hits the target £104m revenue) .. plus we have only sold 60% of 1shop. 40% of payment processing profit is still MBO’s.. with no financial risk
“Super Apps undertakes to provide all the necessary working capital requirements of 1Shop”
It’s probably not a coincidence that MBO put up two job adverts a couple days before that last RNS on the merger.
One for an app developer and one for Chief Information security officer with experience in compliance and risks etc… Methinks things are coming.
https://nodeflair.com/jobs/mobilityone-software-engineer-mobile-apps-android-ios-175971
“MobilityOne is the purveyor of a banking, merchant and consumer solution that it has developed and deployed in-house. It is now looking at expanding its mobile solutions to incorporate various mobile technologies and native apps on platforms such as iPhone, Android, Blackberry, J2ME and Windows Mobile. The successful candidate will join this team to develop various mobile solutions on products, both on the device and host sides of the system. You will be exposed to various mobile and payment technologies, and a real-world environment that touches on the technical, operational and commercial aspects of the mobile banking landscape. ”
https://nodeflair.com/jobs/mobilityone-chief-information-security-officer-ciso-175984
“Lead Compliance, Certification & Audit activities pertaining to Information Security. Develop and implement a strategic, long-term information security strategy and roadmap to ensure that MobilityOne’s information services and assets are adequately protected as per company’s risk appetite. • To determine and enact MobilityOne’s Risk Tolerance Level while working with senior leaders across the business”
We know your strategy Dave. You tell everybody over and over and over and over again.
Just crack on and make some coins mate. It’s all good
I get it and why lol ;-)
Pack it in AC .. you always do this
Dave has it right.
It's just to clear the headroom for the security for his loan, should it ever need converted. At this point Extraction own nearly 19%. He couldn't convert it all to go past 30% unless agreed with FCA. So, its quite possible he may convert some and maybe hold loan notes on any more until we are into production etc. Either way, AK has put up a decent amount of capital at 0.8p level. It's been there since September.
“Does anyone know what factors they consider when considering bids from different companies?”
I reckon previous involvement, working arrangements and been proven to come up with your % of needed cash would be a large factor.
Nice pics and update
https://x.com/corcelplc/status/1725575575807328421?s=46
260k shares then you’re paying over 11p .. all looking good
Not now. 1m quote at IG they are asking near 12p, it’s being snaffled up
Gold price looking very healthy again
Excellent day all. Sellers finally dried up and we begin to make some ground back. Still absolutely crazy market cap. Think production probably by end of spring or early summer 24, and Sonangol are obviously here to try get this back to historic production levels (yeah more drills etc etc) but over time, if we got anywhere near 17,000 Bopd, 18% CRCL. Let it sink in.
How unfortunate that the FT article is having the opposite effect and sending us up.
£5 plus is coming. AIM is turning. Close the shorts
His company won’t be able to go past 30% unless they sort something with Fca or would have to make mandatory offer - I think. So it’s quite possible he will just hold the loan notes until we are in position to sort it.
It’s also repayable in cash. Who knows, he might take some shares and pay rest off from oil production- anything is a possibility I suppose if it’s first oil by Q2 next year as in all presentation material
“It’s an interesting one, but attraction is limited by the company’s convertible loan note arrangements.”
You could look at it this way. Most small oil exploration co’s will raise a few million for a drill campaign. Often at a discount, and plenty people buy after placings in anticipation of the spud and results ..
In our case the placing has effectively been covered by the Chairman’s company. At a significant premium to the price today.
Reality is you can buy under “the placing”.. due to some sellers and uncertainty. Remember, the Chairman ain’t a seller.