Proactive Investors - Run By Investors For Investors

Rockpool Acquisitions eyeing Northern Ireland acquisitions as it moves to London float

"The Northern Ireland business community has a strong heritage of entrepreneurship but has not necessarily taken full advantage of the public markets."
Northern Ireland on the map
Rockpool is raising £1.5mln in its IPO

Cash-shell Rockpool Acquisitions Plc is to take up a standard listing on the main market of the London Stock Exchange as it prepares to make an acquisition in Northern Ireland.

Rockpool is raising £1.5mln in its IPO, issuing shares at 10p each, and it is expected that the consideration for a future acquisition will be paid for via a further new issue of equity.

The Special Purpose Acquisition Company (or SPAC) want to pick up a Northern Ireland based business that has “an international outlook” but not currently able to access growth capital needed to achieve its ‘full potential’.

In a stock market statement, Rockpool said it expects to complete an acquisition, which would be classed as a reverse takeover, within twelve months of its shares being admitted to the London exchange. That said, it noted that there are “no specific targets under consideration yet”.

Targets acquisition of up to £20mln

According to Rockpool, however, it is likely that it will target acquisition of up to £20mln whereby there would be growth prospects that could benefit from an injection of at least £1mln of additional capital.

Detailing its acquisitive plans, the company added: “Rockpool's initial efforts in identifying prospective target companies or businesses will be primarily focused in Northern Ireland as the Directors believe there are a number of suitable potential targets in that country;

“Rockpool will strive to avoid involving any cash element and instead seek to acquire the target by way of issuing shares, convertible loan notes or a mixture of both to the existing shareholders.”

Mike Irvine, the company’s co-founder, said: “Our decision to list on the Main Market of the London Stock Exchange makes both strategic and commercial sense as we believe that there are a number of excellent Northern Ireland based companies that would benefit from access to the deeper pools of capital that a listing on London's most prestigious market provides.

"The Northern Ireland business community has a strong heritage of entrepreneurship but has not necessarily taken full advantage of the public markets. 

“We see Rockpool as an opportunity to start to address that situation."

View full ROC profile View Profile

Related Articles

wedding bands in gold
September 06 2017
Coinsilium's Terrastream platform could reshape the landscape of junior mining funding
different currencies
January 11 2018
The decision to complement its retail offering with a corporate service is quite literally paying off
Russia picture
June 04 2018
The bulk of overall exposure is in credit and government bonds followed closely by equities

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use