Doc Holiday talks with Melissa Sturgess of URA Holdings about future plans for the cash shell

Doc Holiday speaks to Melissa Sturgess of URA Holdings PLC, which since 20th December 2017, is classed as an AIM Rule 15 Cash Shell. The intention of the board is to make an acquisition which would constitute a Reverse Takeover.

The company states on its website that ‘it is agnostic in relation to sectors it will consider with its focus being an acquisition that can create significant value for shareholders in the form of capital growth and/or dividends.’

Under AIM rules Cash Shells have a limited 6-month period in which to either perform a Reverse Takeover or be re-admitted to trading on AIM as an investing company. A raise of at least £6 million is required to fulfil ‘investing company’ status should an aquisition not be made with failure to meet either objective resulting in suspension.

Melissa Sturgess has mostly been involved with and put together deals in the metals and mining space, predominantly on the African continent, with a focus on platinum, gold and precious stone.  She has been a founding director of a range of AIM quoted companies.  Most recently Melissa was a key driver in the recapitalisation of Messaging International plc and the creation of SigmaRoc plc. 

Melissa discusses the interests of the new board coupled with the future intentions and direction the company intends to take. Sturgess raised encouraging points regarding board remuneration, and their personal capital exposure and discusses forward-looking objectives and her previous success in this space with another shell company, Sigmaroc, which subsequently went on to raise £50m in 2016

The interviewer currently holds a position or positions in the stock(s)
and/or financial instrument(s) mentioned in the piece.

The interviewer has not been paid to produce this piece by the company
or companies mentioned above.

 

 

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