Main Listing9 Jan 2015 09:16
the basic fact is that companies want to get onto the main listing - look at QPP busting a gut and then failing miserably and the problems that followed this failure.
With AUCT we have a shell that will facilitate a company to instantly benefit from the prestige of being main listed without the financial, legislative and administrative nightmare involved.
The only comparison is WRN...
ANSWER 1:
Good morning XXX
Thank you for your email and for your interest & investment in Auctus Growth plc ('Auctus').
Firstly you are correct, Auctus is listed on the main market of the London Stock Exchange as a standard listing. We incorporated the company during May this year and have spent the past four months raising funds and working with the listing authority (FCA) in the build up to the IPO on 22 August 2014. As it stands Auctus is a cash shell funded with GBP 1.22m as at the date of the IPO (of which GBP 250k was invested by the Auctus founders).
The plan going forward is to seek out an attractive private company or business which the board view as a high quality growth opportunity. In terms of the type of opportunity Auctus is not limited to any sector nor does it have any have any geographic constraints which gives the board flexibility in deal selection. Once the target has been selected Auctus will likely conduct a reverse takeover transaction.
http://en.wikipedia.org/wiki/Reverse_takeover
Whilst seeking out the target company or business Auctus will be operating on a very conservative cost base, the directors are paid a nominal fee per annum and all other costs will be kept to an absolute minimum. The intention being to align our interests with that of the company's shareholders and look to benefit from future gains in the company's share price.
The company's website has a little more information on the people behind Auctus, the prospectus and market announcements as a reference point which may be of interest to you.
http://www.auctusgrowthplc.co.uk/
If you have any other questions please let me know.
The cost / speed to market is certainly a factor, also the listing process isn't entirely straightforward so we've removed the headache of understanding the process, dealing with the regulator, sourcing service providers & negotiating fees for those services etc.
I hope this helps and feel free to email anytime.
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