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€2,570,888 Investment in Logik WTE LimitedToday 10:49
Looks like there is a lot going on behind the scenes. The following one comes as surpisingly as the short note about the North Fork 15% additional ownership. Haven't heard about it elsewhere before, just found it in the 2020 annual report without further explaination:
21. FINANCIAL ASSETS Investment in related undertaking At beginning of financial year: - Investment in shares in Logik WTE Limited: €2,570,888 At end of financial year: €2,570,888
Ti's food for thought this dividend discussion, I also can't see excess profits for years from Eqtec as they will most likely be using earnings to further future projects progression.
My best guess is it'll take at least 5 or 6 years min after Billingham n Deeside etc are completed before they have sufficient funds to meet their project expansion/development costs and still have significant funds left over.
For instance they recently agreed I believe to a smaller profit share on the American project for 3 or so years in exchange for a much larger slice of the profits there after.
So no 20% profit share for 1st 3 years but maybe 30%+ there after.... If this is replicated then Eqtec will clearly be positioned for great profits in future and possibly dividends who knows but this would be way further down the line than the next couple of years imo.
Thanks for your reply Aandi, and don't worry I didn't take it personally. I just hadn't noticed a dividend mentioned before on Simply wall st and wondered if I was going mad. I understand how dividends work, with profits and bonuses etc so didnt foresee any dividends due for the time being.
ridrid1, did you read my final answer to tuesdays's "North Fork equity and profits" thread? We had 19.999% and we added another 15% in exchange for money they owed us.
If you are still not sure and wish to mail them, the website recommends IR@eqtec.com for investor relations for new and existing shareholders. But better ask for "North Fork" instead of "North Folk" :-)
aandi I agree. I just want to be certain that the 35% equity is a fact. The information suggests that But why be opaque? I'm not concerned, the opposite. Looks like excellent business and I want to comment publicly to other potential investors, once I am 100%
Hi Rodrod, as I am sure you already read over but just to quote from the financials again (as this was posted before by another user)
"For the first five years of operation the share of profits from the associate is limited to 0.1999% rising to 19.99% thereafter. During the financial year, the Group advanced loans of €1,150,609 to North Fork Community Power LLC. These loans which are the subject of commercial negotiation were interest free with no fixed repayment terms at year end. Since the year end the shareholders of North Fork Community Power LLC, including the Company, have agreed that these loans are to be converted into 15% of the equity of North Fork Community Power LLC subject to the completion of formal legal documentation. Previously, the investment was recorded in the books of a subsidiary; it has been transferred to EQTEC plc in the current financial year."
-And it looks like we already own a 19.99% share in the company. So we own the equity but need to wait 5 years for a share in profits of 19.99%, where as we can get a share of 15% of the profits from the start? And we also get Operational and Maintenance costs per year also? Looks good...
IF Canaccord have been moping up sells, perhaps the other MM's are short on free shares, looks like they may be as it keeps going NT for sizeable buys I believe?
Reducing the share price may not work to the MM's advantage as there will be heavier buying pressure than there is selling pressure from private investors, so effectively the MM loses as they have to part with their shares for cheaper. Of course that being said they could try a tree shake with a wide spread and NT to buy, dirtiest trick in the book that one.
Does anyone have L2 that could show us the bid and ask price of ALL market makers so we can see who is competitive and who is standing back? Thanks
Good morning Charlie & all holders....until we get one or two good sized contracts over the line we will fluctuate between high 1's and low 2's IMO. All the ingredients are in place & some very promising partnerships Toyota etc BUT we need completion of a deal that will "get people off their seats" . GLA MFU
Aandi reminds me of a situation years ago where a firm I worked for was undergoing huge changes. A new manager came in with the “manual of change” He said “I’ve read this book from cover to cover” and just as it went deadly silent in a room of about 70 people, my pal turned to me and said “but he didn’t understand a f******* word of it” thus marking the end of his career. You have to wonder sometimes, the answers are all there ......... wood for trees and all that!!!! (No pun intended)
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