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anyone know how much capital is required to takeover a crappy listed company?
is it hard to change the board?
is it hard to change the board?
Back door listing - cost?
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Kauri
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You could try here???
http://www.delisted.com.au/ShellCompaniesForSale.aspx
http://www.delisted.com.au/ShellCompaniesForSale.aspx
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they dont say much, but thx anyway
Kauri
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They might if you spoke to themmoney tree said:
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well heres a shock
all these cluey people here & nobody got any idea whats involved........hmmm
I seem to recall a figure of $500k.
Arent there quite a few listed companies worth far less than this and making squat in profits if any?
all these cluey people here & nobody got any idea whats involved........hmmm
I seem to recall a figure of $500k.
Arent there quite a few listed companies worth far less than this and making squat in profits if any?
wayneL
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I have a friend that did it in the 80's. There are many variables but it is a helluva lot cheaper than going the IPO route. One you have control of the share registry it's easy to p1ss off the board, however as my friend found out, if you make the wrong enemies they'll sink you in the end.money tree said:
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someone here the other day was saying that a company can be worth sweet F.A and someone else can come along and do a 10 for 1 consolidation on the shares. Who does this, how, and for how much?
can you also just announce a takeover like normal?
can you also just announce a takeover like normal?
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Money tree
When you are back door listing a company, you are not taking it over, so no it is not the same as a takeover.....
Usually, it involves the vend in of a substantial asset, such as a Pty Ltd company that would contain what you want to spin into the corporate shell. So, in the case of mining entity, this would be a Pty Ltd containing the tenements you want to put in the corporate shell....
It is fairly complicated. If the vendors of the asset want control (this is always the case), you would need shareholder approval via an EGM or AGM, an explanatory memo detailing the deal to shareholders, an independent expert report valuing both the corporate shell and the asset to be vended in. Plus, accounting wise, it will almost always create a reverse acquisition under AASB 3, which will cause you grief (trust me, I have been through it a number of times).....
However, it has significant benefits. Look at Redport (a company I was involved in as a consultant accountant) - I knew about the back door listing when the shares were 1.5 cents. It was bought out by Mega for 15 cents. Man oh man I hate the concept of a conflict of interest in the accounting profession!
Cheers
When you are back door listing a company, you are not taking it over, so no it is not the same as a takeover.....
Usually, it involves the vend in of a substantial asset, such as a Pty Ltd company that would contain what you want to spin into the corporate shell. So, in the case of mining entity, this would be a Pty Ltd containing the tenements you want to put in the corporate shell....
It is fairly complicated. If the vendors of the asset want control (this is always the case), you would need shareholder approval via an EGM or AGM, an explanatory memo detailing the deal to shareholders, an independent expert report valuing both the corporate shell and the asset to be vended in. Plus, accounting wise, it will almost always create a reverse acquisition under AASB 3, which will cause you grief (trust me, I have been through it a number of times).....
However, it has significant benefits. Look at Redport (a company I was involved in as a consultant accountant) - I knew about the back door listing when the shares were 1.5 cents. It was bought out by Mega for 15 cents. Man oh man I hate the concept of a conflict of interest in the accounting profession!
Cheers
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