Fundamental changes of business 15. Any disposal by an AIM company which, when aggregated with any other disposal(s) over the previous twelve months, exceeds 75% in any of the class tests, is deemed to be a disposal resulting in a fundamental change of business and must be: ♦ conditional on the consent of its shareholders being given in general meeting; ♦ notified without delay disclosing the information specified by Schedule Four and insofar as it is with a related party, the additional information required by rule 13; and
♦ accompanied by the publication of a circular containing details of the disposal and any proposed change in business together with the information specified above and convening the general meeting. Where the effect of the proposed disposal is to divest the AIM company of all, or substantially all, of its trading business, activities or assets the AIM company will, upon completion of the disposal, be treated as an investing company. The notification and circular containing the information specified by Schedule Four convening the general meeting must also state its investing policy to be followed going forward which must also be approved by shareholders. The AIM company will then have to make an acquisition or acquisitions which constitute a reverse takeover under rule 14 or otherwise implement the investing policy approved at the general meeting to the satisfaction of the Exchange within twelve months of becoming an investing company. Where an AIM company proposes to take any other action, the effect of which is that it will cease to own, control or conduct all, or substantially all, of its existing trading business, activities or assets (including the cessation of all, or substantially all, of the AIM companys business), the above requirements to notify the action, publish a circular setting out its investing policy going forward, obtain shareholder consent for that investing policy and implement it within twelve months of taking such action, will apply. Shareholder consent for the action itself will not be required.
Anyone know anything?
Classed as a temporary Suspension prior I guess as an announcement due.
Good news: a deal has been done.
Bad news: Concha has not adhered to the Aim rules in securing a deal and therefore the time restraint of listing for a cash shell has expired.
Concha (AIM: CHA) notes, further to the announcement made on 26 January 2018, the publication of a judgment by the High Court dated 8 February 2018 relating to a claim brought by certain creditors of Ve Interactive Limited ("Ve") against the administrators of Ve, which sets out the Court's decision to remove and replace the administrators and the rationale for that decision. Concha notes with interest the contents of the judgment in the matters surrounding both the appointment of administrators to Ve and the subsequent sale of the business and assets of Ve to Rowchester Limited. Your Board is encouraged by the decision to remove the administrators and the concerns raised by the Court over their actions during the term of their engagement.
Concha will review its position in the light of this judgement and provide a further update when it is appropriate to do so. At present, your Board does not propose any change to the carrying value of the Company's investment in Ve.
A petition to wind up the above company in which Concha has a stake has been presented by The Commissioners of HMRC on 24 Aprii 2017 in the High Court of Justice claiming to be creditors re Insolvency Act 1986;claim to be heard 12 June 2017.
Thanks for the chart lines, interesting.
As this is Akers shell it's a shame he didn't put some Concha cash into EVR rather than his own which is a ten bragger shortly from launch price.
Still I hope for Concha.
Haha hi Shipright.. yes I am working hard on ancilliary stocks to counter balance my SOLG sales! tears!
So why the rise?
Well Concha (The clue is in the title with this stock ie its a shell company) was primarily launched as penny share circa 1p. It raised capital and swiftly hit 6p with further promises only to fall back as some of the deals never materialised.
Chris Akers who I knew of years ago through Sports Internet Group and close associate of Peter Wilkinson Jeremy Fenn et al from Intechnlogy has been pushing this Company as his "baby" so to speak.
To be fair he is well connected and working hard to do a deal. Concha recently bought into VE technology with a £4m stake and has bought into other Companies such as The Works a Sports marketing Company. He is also a shareholder of 9.9m in EVR a FTSE recent launch destined for big things if Virtual reality takes off. I bought some of these last few days and weeks.
As to why its moved personally I have no knowledge. My guess though? Things are progressing and something is up. I bought more at 0.99p this afternoon only as I saw it rising.
It think at 1p its better to be in than not.
Hope this makes sense as I have typed all this from memory.
We could say something is cooking but my pot is not on the cooker.
Nevertheless there was a lot of buying today and has managed to turn the level 2 to the point that has not seeing for a long time.
Has started the day with a level 2 of 1 v 3 at 0.75 v 0.85p
has gone to 1 v 3 as it move the bid to 0.80p
but at the end of the day has moved to 2 v 1 and the last two trade 250K and 750K had paid full offer 0.85p.
Such a high price paid has not been on the ticker for the last 7 month.
So tomorrow is another day but looking good on the charting front as it could be a BREAKOUT on moving over this point
not happy with what i am seeing, likes of putting almost all of our money in a losing company and now RNS stating interest in shares for 1p while current value is 0.6p makes no sense. why to announce and put the share price up why not slowly accumulate and then once hite the reporting percentage 3% announce like other companies do so good luck for everybody holding this share and i may live to regret this but i sooner leave with small loss than get whipped out and if it jumps to 10p then i am happy for well deserved holders whom lost a lot of money and will get their losses back PLEASE NOTE ALL ABOVE ARE PURLEY MY OPINION NOT A RECOMMENDATION ETC
recent RNS states a family is interested in acquiring a very large stack in Concha at 1p per share. "IF" this is the family that i know then they have very successful dentistry chain and this can only be very good news for Concha share holders. Maybe they may want to reverse into Concha and float their very successful chain into a world wide success.
as I mentioned in my previous message Ve is well positioned to REVERSE into us and this way they will get the finance they need hence our share price will substantially increase.
watch this space I believe soon a good news to come out I can feel something big is going to happen...I thing this time they have got it right and we may get that break we need ...
to worth a billions for a high tech companies like Ve is to make losses become public (we can solve this problem for them!) and watch your shares fly ... don't believe me look at some very famous companies you use on a daily bases see which one makes profit and how much their market capitalisation is makes no sense !!! may happen to us you never know just have to wait and see
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