Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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And worse - he became the CEO - before he left!
Echo, it could well do.
Yes RX
Previous CFO put Coy in trouble because he arranged loan facilities to purchase pipeline assets - but that ploy put the business in ? territory because the arrangements changed relating to contracts and PIAs became payments on contracted milestones.
Harrison was wrong!
Does this latest move put into context the appointment of the interim CFO??
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Can it be more than coincidence that this additional interest in FCRM has come about since the change in strategy selling of piping assets and when that transaction has gone through cash positive again, no debt and with cash for other opportunities that are out there.
Hope that is one of reasons as well as being well diversified in other areas which will benefit from government infrastructure investment.
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That is the sale of the pipelines as they exist and those to be laid.
My break even is 30p.
So I need a good 30% increase just to break even.
Bought long ago at around the 60p mark and have averaged down. My main thinking was that the electric car ‘revolution’ would make this a very good long term hold.
Any thoughts?
Someone just bought (1130am) over 2 mill shares .Not of course reflected in the buy/sell totals.
what do you mean echo? as in it will be cheaper than current price?
Yes a good point addic.
Why do I get the feeling that once this has been through the wash I’m going to be feeling rather annoyed. . . . ?
Echo, good question.
The current market cap is 52m and we know a part of the business has been valued at 33m, so that doesn't really apply much value to the rest, does it?
earthling, because it really doesn't matter.
Some excellent points made fellas.
So assuming an MBO is on the cards what share price do you think we could achieve?
I hasten to add that I like a lot of others have been sitting on a loss for a long while . . . .
I can see the thinking here.
The sale of the domestic gas connection business will raise £33m in cash. Although the company has earmarked some for share buy backs (a measly amount) and dividends, the fact is that if an mbo is launched the management buyers could put a halt to those buy backs and then use the cash to repay any borrowings they take on as part of the buy out. This is an absolutely classic move and is no doubt why Mills is so interested.
The thing to be careful about is that they'll try to get this on the cheap.
if you're sure they have broken the rules, how come you're still interested. ?
Interesting indeed. Never heard of Fulcrum until 10 mins ago but had heard of Harwood as they bought into Infa in a big way at the end of last year.
From a recenty RNS I note "Fulcrum will retain its Independent Gas Transporter ("IGT") and Independent Distribution Network Operator ("IDNO") licences. " , where as INFA are hoping to create an awful lot of gas storage in the near future. DYOR , obviously.
Will keep an eye on this. Cheers, Si.
The company isn't in a bid situation (yet), so the concert party rules don't apply. However, there is a very clear conflict, which should have been notified. Personally, I don't really give a stuff, but I'm pleased I've worked it out.
Broken the "Concert party rules "?
By the way, this is a stonking buy.
This has just become much clearer to me. Holder, the Chairman, sits on tHE Advisory Board of Harwood Private Equity, Christopher Mills investment vehicle.
It seems likely that he's advising Mills to buy and, in my opinion, we could see an mbo coming.
By the way, I think the company has broken the rules by not declaring the interests of Holder in the RNS of last week. In fact, I'm 100% certain they've broken the rules.
to note someone spent almost 500k on purchases this morning. Perhaps Mills buying more?