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New standard listing: Harry Hyman TMT shell

TMT Acquisitions has been set up to acquire an online or technology business that is entrepreneur-led and has long-term growth prospects.  

The three directors have experience of creating shells and using them to make acquisitions. A number of potential opportunities have been identified. There should be plenty of cash for at least 24 months. Ongoing costs are relatively low with the directors not taking any fees until an acquisition is made. Most of the cash will go on seeking acquisitions and undertaking due diligence.

The share price ended the first day at 22.5p (21p/24p). There were 20,000 shares traded on the day. The shares seem tightly held so any buying activity could push them higher. The quality of the board makes the premium to underlying pro forma cash of 17.6p a sh...

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