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Mucksy. The pay was re non-execs, nothing to do with the CFO's salary
“Due to global supply chain challenges experienced by many industries at present, we have made early investments into the purchase of long lead items so that when finalised we are in a position to embark upon a sizeable initial production run of hybrid units for customers.”
Project materials £2.6m, project spend £4.3m (of £8.6m total costs just reported). That’s a good thing to see.
I'm thinking they have someone lined upto replace Graham probably why they needed to raise the pay at the recent meeting
Or infiltration from “terrorist states” trying to undermine the transition away from fossil fuels?
He'll be 63 at that point so retiral is perfectly understandable...and according to Companies House his residence is already in Spain!
Retired not resigned ! read the RNS
Graeme Lewis, Chief Financial Officer, has today informed the Company that he wishes to retire. In order to ensure an orderly handover to his successor, Graeme has agreed to stay with the Company until 30 April 2023. The Company has commenced the process of recruiting a successor and will update the market in due course.
They probably are not even real people probably just bots
So plenty in reserve for AB's bonus in yet another transformative year for AFC. You just couldn't make it up. The market is telling a different story. The teens and lower are on the horizon.
Teens incoming. Let's be honest, this is not looking good with the cash pile shrinking significantly helped of course by AB. Without the power output of the S+ cell this company won't be providing propulsion for ships, trains or anything else. I fail to see why there's no update on its progress especially as they mentioned lots of enquiries from the maritime industry. These can't be even contemplated never mind delivered without the S+ cell. I fear AFC's MC is going to be considerably reduced on this uncertainty. Not impressed.
If you had been expecting full year results to be above £4m for this year Spacerat, then you have not been doing your due diligence. This is the figure which Zeus have been forecasting for FY2022 for more than a year now.
Yep Bondy - we need to make our mark now. First mover advantage is being diluted by the day.
Cash position is one of the positives although by October next year they will have less than one years’ worth of cash left, so success of these trials and conversion in to orders is absolutely critical. There’s no point thinking about data centres and maritime, we have to start turning revenue from construction to survive.
£4m by October - I was expecting a lot more than that 12 months ago!!! AFC is certainly going to be a slow burner. I fear £48m cash is no where near enough for sales to ramp up as quickly as hoped. The market is moving too quickly to rely on organic growth to fund development.
Do we think they will hit £4m by October? This is the expectation set out In the Zeus report.. currently I count
£280k +
£2m deposit Fromm abb
£1m next milestone (if achieved this year?)
Acciona / keltbray / kier leases - £720k?
This is the only thing that matters right now. If they fall short of the £4m it’s going to be a problem for the share price.
AB has officially missed another set of delivery targets he only reiterated a couple of weeks ago.
Haggis and Aim never give up! The S.P. just over a year ago was 83 today its 23 but...
"genuine investors have no worries here".
Our current pipeline is principally front ended with short term leases which will provide modest revenues (compared to eventual sales) but the quality of our customers, due to their scale and market influence (including with plant hire businesses), gives us confidence of successfully demonstrating our systems to the industry, with resultant growth and quantum of revenue following thereafter.
MEH.
Half year cash balance of GBP48.6m, plenty of money for years, with sales lift off this year, genuine investors have no worries here.