Blencowe seeks resources reverse takeover

Blencowe Resources (LON: BRES) is the latest standard list shell to float, following soon after MENA-Land. Blencowe is focused on the resources sector and raised £340,000 gross.

It is important to stress that Blencowe could not have joined AIM by raising such a small amount of money. A minimum of £6m is required to be raised for a new AIM investment company quotation.

There have been previous share issues prior to the flotation at lower share prices than the 4p placing price. That is why t...

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Andrew Hore is the publisher of AIM Journal, which is an online monthly publication covering the Alternative Investment Market.