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HeresHopin - A lot of family offices and private equity (such as credit funds) don't like investing in publicly traded companies. They tend to take a charge over assets and in most cases the equity, which is impossible on a publicly traded company.
Im not sure delisting necessarily gives them "more options" it just gives them different options. However, having so many shareholders on the cap table also will make family office or PE difficult.

Would sincerely hope FCAP have pulled these clowns in and asked wtf is going on. Having said that, if it has traded inline with expectations it would suggest the deal was majorly overvalued at the start and the market has found a true value. I would suggest they sell the operating business (assuming its worth anything!) keep the cash in the company as a shell and look for a suitable RTO. At least it would give shareholders the chance to go again.

Another crock of S@!t bought to the market by FCAP. Where is the logic in investing in a company when the existing shareholders are taking circa 60% of the raise off the table. In this case, £12m to the shareholders and £5m for the company. I appreciate there needs to be a free float but why not just raise more for the company? After all free float is totally arbitrary on AIM. Have never invested in a deal bought to market by FCAP and never will.

Would love to see the Pathfinder for this deal, suggest it would be read like Comedy Gold!
Commiserations to all investors who have been f@$%ed over on this one.

Foolmar, your comment was "without merit" reminds me of a certain RNS!!

No, not the Lennon song - but owning 3,000,000 shares in a company that has just shipped 11.76% market cap on trade volume of US$2,600 with the median trade size of 100 shares. Not one for me, OUCH!

"M/M gathering ot at least trying gather cheap stock."
My view is they are sitting on a load of stock and don't want anymore. Hence the bid is in the 2's. By lowering the offer they are trying to attract BUYERS!

So the CEO buys shares valued at circa 1% of his annual package and you think that's impressive? He owns less than 0.003% of the company. He should pony up at least a yrs salary into stock to show beleif or leave. At least get into single digits!
Been a sh,it show recently for shareholders. Its becoming a lifestyle company.

The extended DD period ends during the first two weeks November. According to the original RNS, post DD, there is then a 90 day negotiating period which if used in full runs out at the early February.

The debt figure and the cash to service it are concerning. I can only see the service figure rising due to interest rates. SONIA was 0.05% a yr ago it is now 2.19% and rising. Not sure I would be buying anymore at present! Too much gearing.

Foolmar, I will rely on the thermometer on the wall beside me, not BBC weather!

Foolmar
They have agreed the terms in "principle" that is not a deal. Those terms are subject to DD for which the period has been extended. There is currently NO completed deal investors are aware of. Now that the Cadastre is reopened and given the time spent on DD you would expect the deal to be concluded and announced in short order, I wouldn't hold my breath though as given the extension agreed this could roll on well in to Q1 23. Also deals have a habit of falling over!

Aug 15th
"a second 90 day exclusivity period will commence to allow sufficient time for the conclusion of the due diligence and the negotiation and execution of the Joint Venture Documents as contemplated in the original announcement of 12 May 2022 relating to the transaction."

May 12th
The key commercial terms of the Joint Venture that have been agreed in principle in the Agreement are as follows:
Upon signing of the Joint Venture Documents ("Effective Date"), a Joint Venture vehicle will be formed with initial ownership interests by Anglo American and Arc of 70% and 30%, respectively ("Initial Ownership Interests");

In answer to your point should I decide to retire. Most probably what I am doing this morning, sitting in my villa, by my pool looking at uninterrupted views across the Aegean Sea (26 degrees at 09.30)! collecting my hard earned pension and investment income from the UK! And of course provide a balanced (FCA term, not mine) view to people who ramp stocks!

3. Is it signed yet - NO. Signatures are what you really need!!

Well let's hope there is a better outcome than the poor folks who invested in BNN Technology.

Couldn't agree more.

Agreed, its a decent RNS. Seems like progress. Let's hope the buyers start piling in!!

Obvs being delivered by the Lesser Spotted JV.
Will dig out out my binoculars!

Likewise, I'm topping up. Don't necessarily think it's cheap at these levels but fair value.

At this rate the illiquid Tingo shares could be their greatest asset!!

https://www.bloomberg.com/press-releases/2022-07-29/shareholder-alert-the-m-a-class-action-firm-announces-the-investigation-of-mict-inc-mict

I see a sale of 200 (US$490) shares has just knocked Tingo price and a massive 350 shares dealt at 2 and an eighth!
Come on then Foolmar, share some wisdom ;
How do we exit 3m shares of a company with a daily average volume of 16,033 on the Pinks?
As I said before, what is the realisation value?