A cash shell listed on London Stock Exchange
Spinnaker Opportunities Plc

About

About The Company

Spinnaker Opportunities Plc (“Spinnaker” or the “Company”) was incorporated on 17 November 2016 under the Companies Act 2006 as a public company registered in England with number 10485105, with a view to creating a cash shell to be listed on the main board of the London Stock Exchange, Standard List segment and thereafter to seek an acquisition of a material business opportunity which is likely to constitute a Reverse Takeover (“RTO”).

The Company's Initial Public Offering, which consisted of a Subscription and a Placing, was over-subscribed and the Company was admitted to trading on 17 May 2017 under the ticker “SOP LN” and ISIN GB00BYQCS703. Gross proceeds were £1.2 million of which the Board invested an aggregate of £0.3 million.

The Company's main aim is to generate an attractive capital return to its shareholders by achieving a valuation uplift upon RTO and by selecting a target business that has significant further value growth potential following acquisition.

About The Business

Spinnaker is a quoted cash shell modelled according to the best practices that we have seen. This means for example;

  • That the founders and their close associates have invested £535,750 of the initial capital through the subscription. This aligns the interests of shareholders and the board.

  • That no cash fees will be withdrawn from the business by board or management prior to completion of a first acquisition. This helps to ensure that future decisions by the board will be based on their shareholder interests, in full alignment with other shareholders.

  • That legal, financial and commercial work will be conducted in-house by the founders to the extent that they have the necessary capabilities.

Strategy

 

 

 

 

Spinnaker will seek a single, material opportunity as its first acquisition (i.e. it is about creating a substantial new business, not about “planting a thousand seeds”).

Spinnaker will seek and consider opportunities either that amount to effective exit upon first acquisition or which may involve a limited period (max 2 years) of operation and growth prior to an effective exit.

A higher proportion of Spinnaker opportunity deal flow is expected to arise from energy and process industries, but other sectors will also be considered if within the experience set of the founders.

The founders of Spinnaker will provide only such direction and management as may be required for the ongoing business to succeed after its first acquisition (i.e. it is about doing what is truly needed, not creating a lifestyle for the founders of Spinnaker).

THE BOARD

Each of the Directors and Officers has been involved in advising, investing in and/or managing numerous junior companies in the natural resources and other sectors.

Andy Morrison

Chairman

An outcome‐focused Director, General Manager and Chief Executive of growth businesses with successful experience in both major multi‐national corporations and smaller public companies. A background in strategic business development combined with technical literacy and an entrepreneurial mind‐set and a record of commercial delivery across energy and process industries. Andy will be responsible for commercial matters and the overall management of SOPlc, and in particular in the sourcing and negotiation of a pipeline of RTO opportunities for the business to action once it becomes listed.

Richard Liddell

Director

An highly experienced executive and entrepreneur engaged in the upstream natural resources sector with successful track record in value creation and monetisation of upstream oil and gas assets. Experienced PLC chairman/director and currently non‐executive director; Sound Energy Plc. and founder and Managing Director of Clara Petroleum Ltd. Among Richard's previously held positions are Chairman, Falkland Oil and Gas; Operations Director, Premier Oil; Development Director, British Gas E&P. In addition to SOPlc director duties, Richard will contribute to the origination, screening and due diligence on the RTO acquisition inventory.

Tony Harpur

Director

A senior oil executive in the oil trading units of BP and Shell and ex‐CEO of a oil and chemicals trading company based in the Middle East. Tony is now retired and is a volunteer expedition and walks leader. He welcome the opportunity to use his knowledge and experience to help SOPlc seek an acquisition of a material business opportunity. In addition to his overall duties, Tony will contribute to the origination, screening and due diligence on the RTO acquisition inventory.

Jonathan Bradley-Hoare

Director

A qualified Chartered Accountant, Jonathan has his own practice at Welbeck & Associates where he is the senior audit partner and engagement partner for all listed clients. He has over 20 years of experience in audit and advisory services. He focuses on working with growing businesses in the small cap to mid‐corporate sector and has worked with a large number of companies on AIM and other markets. Jonathan will be responsible for financial matters and overall financial control of SOPlc, and in particular in the preparation of financial statements made in the prospectus and for any accounts required prior to an RTO.

Mike Doherty

Board Adviser

Mike is Chairman of Impact Oil and Gas Ltd, an exploration company with a focus on Africa. He is a qualified geophysicist and a proven oil finder with over 35 years’ industry experience in senior technical, commercial and management roles. He started his career in the seismic industry and was a co‐founder of Merlin Geophysical Company limited in 1979. In 1981 he became CEO of Merlin and organized the merger of Merlin and Seismic Profilers to form an integrated acquisition and processing company called Merlin Profilers. This integrated company was acquired by Schlumberger in 1986. Since then Mike has been CEO of a number of E&P companies with global operations. He joined the publicly‐listed Ardmore Petroleum as CEO and arranged the merger of Ardmore and Tuskar Resources PLC. He served as CEO of Tuskar for a number of years before leaving to become Chief Executive of Trans‐Dominion Energy Corporation ‐ a TSX listed company. Mike established Impact Oil & Gas Limited in 2009. He has an MA in Physics from Trinity College Dublin and is a Fellow of the Geological Society.

David Bott

Board Adviser

David is Chairman of Oxford Biomaterials and a Non‐Executive Director of Oxford Advanced Surfaces Group. He originally qualified with a degree in Polymer Science and pursued an early career amongst major industrial firms including BP, Courtaulds and ICI rising to the role of Director of Group Technology at ICI. He was a founder and then Director of Innovation Programmes at the UK Government's Technology Strategy Board from 2007‐2013. David will be responsible for technology matters and in broadening the sourcing of RTO opportunities to be pursued once the business becomes listed.

Alan Hume

Board Adviser

Alan is a dynamic and highly developed CFO with significant experience in the oil and gas exploration and production sector as well as the broader energy market. Alan has also held senior finance, commercial and operational roles in the oilfield services, engineering, construction and energy production sectors.

Alan's career has seen him hold many domestic, as well as international financial responsibilities. He has experience in bringing companies to market as well as leading acquisition and disposal activities. His expertise encompasses blue chip American organisations, AIM listed companies, TSX‐V listed companies and start‐up ventures.

Alan is a Fellow of the Chartered Institute of Management Accountants.

Andy Duncan

Board Adviser

An experienced financier to the independent sector, Andy has over 11 years of oil and gas experience having worked for Standard Chartered Bank, Bank of America Merrill Lynch and the Royal Bank of Scotland providing structured financings and acquisition finance for assets globally. Andy is currently an independent consultant providing advice and assistance on corporate finance to boards and executive management teams in the oil and gas sector.

Prior to banking Andy spent 10 years in industry as a chartered mechanical engineer, where he designed topsides facilities for UK North Sea platforms as well as designing fluidised catalytic cracking units for multiple refineries across Europe.

David Little

Company Secretary

A Corporate/Commercial partner with legal firm Bishop & Sewell, advising on buying and selling businesses, private and public fund‐raisings (in particular AIM, Standard List and ISDX) and general company law and company secretarial matters. His work involves corporate transactions across a broad range of business sectors, with a particular focus on the technology, marketing and media, sport and leisure, and professional services sectors. David will be responsible for legal matters and overall compliance of SOPlc, and in particular in the preparation of the prospectus and liaison with UKLA in connection with admission to trading.

News

Last updated 21st September 2017

Half Yearly Report 30th June 2017

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Half Yearly Report 30th June 2017

Corporate Update

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Corporate Update

Notification Of Major Holdings

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Notification Of Major Holdings

Corporate Update

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Corporate Update

Additional Retained Advisers

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Additional Retained Advisers

Additional Retained Advisers

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Additional Retained Advisers

SOP Looking To Fast-Track A Deal

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SOP Looking To Fast-Track A Deal

Director Dealing

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Director Dealing

SP Angel Broker Flash Note

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SP Angel Broker Flash Note

First Day of Dealings

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First Day of Dealings

NOTICE OF ADMISSION TO TRADING ON THE LONDON STOCK EXCHANGE

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NOTICE OF ADMISSION TO TRADING ON THE LONDON STOCK EXCHANGE

Replacement ‐ Publication of Prospectus

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Replacement ‐ Publication of Prospectus

Publication of Prospectus

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Publication of Prospectus

Library

Last updated 29th September 2017

The NEX Exchange Interview

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The NEX Exchange Interview

Spinnaker spies energy opportunities

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Spinnaker spies energy opportunities

Why Cash Shells have Turned Their Back on AIM

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Why Cash Shells have Turned Their Back on AIM

Andy Morrison Interview with proactiveinvestors

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Andy Morrison Interview with proactiveinvestors

SP Angel Broker Flash Note

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SP Angel Broker Flash Note

Articles of Association

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Articles of Association

Company Presentation

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Company Presentation

Spinnaker Opportunities Prospectus

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Spinnaker Opportunities Prospectus

Contact Us

At the Company

email: Andy Morrison, Chairman

phone: +44 7980 878561

SP Angel (Corporate Finance Advisers and Brokers)

email: Lindsay Mair
email: Richard Hail
email: Richard Parlons (Sales)

phone: +44 20 3470 0470

Bishop & Sewell (Legal Advisers)

email: David Little, Partner

phone: +44 7968 027343



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