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The Placing Warrants are exercisable at any time, for a period of 2 years, from the date of Admission at the following exercise prices: 50% at 1.2p; 25% at 1.35p and 25% at 1.5p.
any chance the sp gains any momentum for any reason the bod will dump more shares onto the market. what is the point in investing in a company that takes the one an only reason investors invest away from its investors. 150 mill shares are a hell of a lot of shares to plow through before the sp regains a neutral viscosity. potentially taking any positive benefits gained from positive news away from the investor. we already know long term investors are not treated very kindly by this bod. i personally want to see proof this as changed before i even consider giving the bod any more of my money.
Either the market or someone is acquiring large chunks. surely they are expecting big things to happen.
Late-reported 9.6m trade at the mid-price bumping up the day's volume to 31.1m.
PS: the figures provide a measure of GL's ambitions for the company
£6.12m of debt facility, maybe a further £8m of committed funding plus nearly £3.5m of new equity (if all the warrants are exercised).
Certainly in terms of financial clout, Angus is shifting up a gear or two.
This is my opinion only, not investment advice.
My only gripe is the ABB was at a heavily discounted price, and marked the end of a decent rise, which we have all be desparate for. The day started with the feeling of elation with my holding having risen substantially of the preceeding week, to a drop 10% above the ABB price after which I averaged down with a substantial investment this morning. The ABB undermined a lot of loyal investors, including Forest, myself and a lot of people on this board.
The fundamental reason for investing remains the same though. If they get the financing in the next couple of weeks, which I believe that they will, then I believe that the shares will smash through 1.5 and personally I'm holding out for a lot more.
Yes, I'm fed up, but it offers an opportunity to buy more, with a decent short term return. I would imagine that the people that invested this week would be sophisticated / in the know investors. ; )
Jamesthesecond, environmentally friendly energy projects do seem to be a good space to be in at the moment. I hope George's use of the term disruptive is reflected in the new project, they have certainly been working on it for a while.
JamesII,
I have learnt to be cautious here after such a long time being in the red after Brockham.
Still have my conservative target for SF at around the 2p-2.5p level, but with a lot more optimism now, than this time last year. Anything above that will be a big bonus for me,
I think it was March last year when my mood changed, when the CPR was dropped, sadly the rise was negated by the covid market drop only a short time later.
It took nearly 11 months to get back to the SP level seen then, only for the placing to drop us back again.
Lots of promise this past 12 months, but also a few set-backs, as to be expected, mostly with timelines, and cashflow.
I will be much happier with the firm news on the funding, the intrigue of the 'new' project being out in the open, and a positive Balcombe planning decision, which we should hopefully see news on in the next few weeks.
gla
James, i hope you are right with something chunky in the pipeline to offset the dilution.
as we are pre production at all the sites, there is very little choice but to place at this moment in time.
it was a kick in the SP, which killed the momentum, though it is a good sign that we haven't dropped below the 1p placement price as we have done in the past.
Ocelot is right, it does strengthen one aspect of our Balcombe case...
GLA
The placing should strengthen their hand in the Balcombe committee meeting, the councillors won't be able to question Angus's financial means to push ahead with the project.
A cautious analysis Crocqman. Some of the answers may be revealed very early next week when Angs answers investors questions and a fresh TR1 is issued. don't be surprised a very bullish RNS about geothermal pushing this into double digits. Somehow, my gut feeling is that something really BIG is on the way and imminent.
Yes, if they have been accumulating over time to reach an intended target, I am certain that they would have been part of the placing, especially at a price that is likely to have been lower than their most recent Buys were probably at.
Getting diluted after such a time would seem a silly act on their behalf, especially with the carrot of the attached warranrts.
TR1's for the other significant holders will be interesting too.
Not execting too much price movement over the next couple of days until the new shares are added, but the current SP holding above the placing price is promising after the previous few days of increases before the RNS.
WIll it hold above the placing price next week?
gla
Scallywag, we’ll find out on or around 2 Feb when they will have to file a new TR-1. My guess is that they bought a lot more.
They will only own 10% till 2nd February, then it goes under 10.
Unless of course they have a bought a whole lot more for a 1p
Light at the end of this , long, .... long ........ very long tunnel. I think, at long last.
gla.
I wonder what Forest's average SP is. They own 10% of the company, so it will be interesting to see what stance they will take if things don't go according to plan …. whatever that is today.
Should get a comprehensive update shortly. Will be interesting to see the new project.
Forest appear to be buying. All those round million plus trades are probably them.
Be interesting to see if Forest fares any better than our billionaire invest did last year.
gkb47 - I've been too busy to keep up to date with the Angus roadshow.
I did see the lack of experience...again ...in employing somebody to go out and find £12 million. Isn't that George Lucan forte? Surely America 2030 would have lent them the money?
Angus do like to reinvent themselves and move onto the next show. But how much revenue have they generated since IPO day?
And I do wonder why folk say they have averaged down in order to recoup losses. Surely a more diversified portfolio should be the prudent way forward....otherwise thats a lot of broken eggs.
So what happed to the £1 project that investors were told by Lucan.....the debt is stacking up before they even try to flow the wells at Saltfleetby?
Mirasol, you may have a point there, makes sense. I suppose we will find out in a couple of weeks if/when the finance deal is closed. Not sure where that leaves the Forest Nominees through, they must have been aware of Angus intentions/plans to invest such a huge sum.
I guess that technically, they do not need to answer the Q's this month as they were submitted after their preferred cut-off date.
I suspect though, that they will be keen to respond to all of those though by the 31st as a sign that all is well, and on track, and to prevent any further negativity.
Communication will be very important for the bod over the coming weeks now, as I am sure many shareholders (not just PI's) will have felt let down by the timing of this news
Agreed. Separately some Q&A published. Will be interesting to see answers.
I'm not sure it is worth speculating too much on the reasoning behind this.
It is done now. Disappointing, but we will know in 3 weeks or so on the funding, so can truly judge on the financial situation here on result of that, and any interviews given surrounding their reasoning when this was supposedly so close.
Sad that the decent momentum that had been building here has been halted though.
The placing price will most lkely have been on an average over 7 days or so leading up to the announcement, so timing it a few days later could have made a big difference.
It does suggest that Forest were still buying up until the time they were presumably contacted about the placing (as a TR1, they would surely have been informed and would have had to stop buying in the market, if made an insider).
The change in shares in issue will be telling for all the TR1's as to participation, or not.
gla
My understanding is that directors of Aim companies have to prepare cash/expenditure projections (presumably to the Nomad) and linked to that expectations as to future placings are effectively diarised i.e. you can broadly project when available cash falls below a certain figure and a placing is slated around then.
As such given Angus is not revenue generating yet but has various ongoing costs (particularly SFB) I expect inevitably they had to place again due to SFB delays, perhaps as the SP was good they went for a larger amount to provide a buffer to hopefully get them through to SFB going live and perhaps other Brockham/Balcombe/Lidsey work. As such they didn't really have the option to wait until the SP went higher.