Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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VHB, it is all imho but herewith a dailymail article that outlines some of the issues.
https://www.thisismoney.co.uk/money/markets/article-8633073/Flybe-investors-plan-legal-fight-1p-deal.html
and while i am at it, the previous directors of this company should be worried.
Sins of omission (i.e. not revealing material information, either at all or in a timely manner) are sadly not that uncommon with AIM companies.
Far rarer (though not completely unknown) are sins of commission (i.e. companies knowingly spouting utter BS). CTAG, anyone?
VHB, Flybe.
Yanis, I genuinely have no position on this stock and as it happens want the project to suceed because the UK needs the gas . Just to explain my motivation a little further, there have been several stocks where I have lost thousands because Directors broke the listing rules and withheld info that was material , so I watch out for it and flag it.
In addition to the consents worry, there is national grid who are a law unto themselves when it comes to allocating resources to urgent projects and they are obviously key. Good luck.
Tav saying may go short kind of spilled the beans.
I don’t believe the SP is going to go any lower unless another placing happens from this level. Anybody looking for lower has to consider the odds of another placing so soon after the last one (about a month ago). Presently, it doesn’t look likely that another placing will happen anytime soon, bar delays.
Further delays due to EA/PP approvals worries me but hopefully these will arrive in the next two weeks allowing site activity to ramp up. PP consultation period ends 28 Jan.
Anyway, in the absence of another bid, I think what will start the fire works is PP & EA approval. Increased site activity may spark FOMO. Fingers crossed within the next 2/3 weeks.
TAV LOL, you've been rumbled like a chip shop spud.
BV, I am interested in this project and may again take a position. If you don't want the benefit of my insights just filter me. I am an honest player and truthfull believe first gas is months away . Whats your prediction?
Tav, I'f your not invested you don't need to worry, you have another 13 companies to keep you busy, BYE BYE!
VHB, I expect them to comply with the rules for listed companies and update in accordance with those rules which state that the market must be informed of material info in a 'timely manner'. So what they keep showing are photographs that demonstrate that the schedule has not been kept and first gas in the middle of Feb is now physically impossible and they know that. At risk for investors is potentially the company not meeting its contractual obligations and that will be a huge impact on shareholder value.
Investors that rely on the official info released by the company and lose money have a claim against the directors [ as happened gere before] and if i was still invested I would be downloading the photos, rns statements and the latest schedule as insurance against the sp falling if this goes belly up. This could go either way [ decent bid or big cash raise] imv.
How this gets built depends on the contractor appointed and their resources and we shall see how they go about it. I have no position here so have no axe to grind . However, imv first gas is several months away and you investors deserve some real dates and info on risks.
nhawan. Spot on mate LOL!!!!!!!!!
Taverham, does a plumber get their pipes soldered off site before installation? It's obvious they will be assembled on site to get the correct positioning, etc. If they welded off-site then the transportation would be a nightmare and I doubt that is allowed in the planning permissions.
Please open a short if you really your BS
In simple terms , everything that can be transported by lorry , leaving a couple of welds on site for final alignment. It could be that they are using the site to 'store' the pipe pending collection by the appointed fabrication contractor , however that implies that that contractor has not yet been appointed or for some reason could not take delivery. Either way my sense of things is that this project is months from completion . I am begiining to think I should open a short - I have no position atm.
Taverham. What do you suggest they fabricate in the workshop and how?
Great pics - I am slightly surprised by just how much fabrication it implies they will be doing on site rather than in a workshop. There is hours and hours of fabrication work here. I hope the contractor can supply sufficient labour to move the job along .
Cheers James. Good pics!
HITS. The last raise took a few hours, I think it's too time consuming to involve small shareholders if there is a possible deal to be struck while the iron is hot IMO.
There's no way SOU can buy the 50% + shares required to undertake a hostile takeover. Even with the 13.5% of shares that have approved their offer it would require SOU to buy another 36.5% on the open market. I doubt they would get that many shares for less than 1.5p average. Anyone accumulating such large amounts will push the sp way over 3p within days.
It's not complicated. ANGS's new authority does carry disapplication of statutory pre-emption rights. This is standard stuff and simply means that ANGS is not obliged to give all existing shareholders the opportunity to participate in any new placing (aka an Open Offer). ANGS can have an Open Offer if it so chooses, though it'd be unusual to do so.
The better question is... would all existing shareholders want to invest more of their hard-earned and take part in a new placing? It's not as if they'd be issued new shares for free...
they always place these shares with low life companies who quickly turn the stock to PI's
PI's are more likely to hold in a takeover than the City Boys as they always believe the stock is worth more - then you finish up like Sirius.
Some research:
"disapply statutory pre-emption rights "
They specifically requested authority NOT to allow current shareholders to participate in any offer of the newly authorised shares.
Adrain
"so they needed to be able to issue new shares should they need them to see off any hostile takeover"
Explain to me how that works? Anyone buying doesn't CARE about the SP - they only care about the final price. issuing more confetti doesn't strengthen anyone - it just increases the amount of votes
Mirasol, I also agree - that's a given. I see no viable reason why the company should not be making all efforts and overcoming all unforeseen new obstacles in progress to first gas.
"The closer they are to being able to deliver on time and on budget the less risk for a buyer and therefore a higher price." Absolutely true, with the flipside being "The closer it gets to July without first gas being achieved, the more risk and therefore a lower price."