RE: takeaimfire15 Nov 2015 03:41
The part that confuses me is - a reverse takeover is when a none PLC (like SalvaRX) buys a PLC (like 3LEG) and gains the PLC market status through the back door so to speak.
Reverse takeovers
A "reverse takeover" is a type of takeover where a private company acquires a public company. This is usually done at the instigation of the larger, private company, the purpose being for the private company to effectively float itself while avoiding some of the expense and time involved in a conventional IPO. However, in the UK under AIM rules, a reverse take-over is an acquisition or acquisitions in a twelve-month period which for an AIM company would:
exceed 100% in any of the class tests; or
result in a fundamental change in its business, board or voting control; or
in the case of an investing company, depart substantially from the investing strategy stated in its admission document or, where no admission document was produced on admission, depart substantially from the investing strategy stated in its pre-admission announcement or, depart substantially from the investing strategy.
So for this to be the case, SalvaRX should be buying "us" out, I did say "it gets more confusing" as Sir Jim owns SalvaRX and is also a big player in 3LEG.
I am now leaning towards what you thought and think we will get a re rate, you are most certainly NOT talking carp, it is a very good and valid question, and one I thought the knowledgeable on here would have wanted to answer.
Know idea why? Maybe on this news they have gone on holiday lol, but as I have said before, I have no doubt here, I have total trust in the people behind this, not often you get to say something like that on AIM!
Sir Jim is the polar opposite of Mr Lenigas, I think anyone who got locked in here because of the suspension will be getting a Christmas present (maybe belated, but hey suffer baby).
All only in my personal opinion (taking advice from me can damage your wealth).
GLA, Alan.