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And I bought an extra 5000 shares at 4pm today which is showing as a sell and my previous buy showed up as unknown so I wouldn’t be paying much attention to the trades listed in that regard!
But the cash injection into the company is more than twice the current market cap so the extra cash injection should offset the dilution to existing shareholders by the additional shares coming to market IMO. If anything, once the additional shares are tradable, I think the SP will rise aided by significant positive news on Mistral and Orders. GLA
You couldn't buy approx 22m shares at 22/23p or remotely like on the open market, I'd expect .. but no such big buying happens in the open market in this AIM game, alas..
Overall still a very large raise imho.. and very diluting to existing holders.. and here's hoping they can turn this business into a success from here/now..
(Longterm holders who haven't averaged down are mostly smashed, I expect/sadly ...but that's often the nature of this game, alas.. and. after the epic dilution here over time, this stock is not currently as appealing to mr as it was when I first got involved to in truth.. but all is of course to p[ay for from here.. and my average is still relatively low versus the field, I expect ..
Good luck to all fellow holders
Yes, but no guarantees in placing these, it will be interesting to see if they place the other shares as you can buy in the market at similar pricing. If they do, I feel this will provide more confidence that the shares are in demand.
PI’s looks like they want to see where this is going, but plenty of new big money investors now involved, can they attract some PI’s also I wonder…
I believe they have till tomorrow to dispose of the residue. They could easily be picked up by II who requested more in the over subscriptions.
Have a feeling many may have bought in the market rather than via the open offer, as you could buy at 23p or slightly lower.
In one positive, I guess it means a little less dilution, but also a little less cash raised.
It will be interesting to see how the market responds to this - probably will stay flat until news/updates are announced!
AVL discussed by @VSACapital regarding vanadium electrolyte manufacture in Australia. AVL is working with @InvinityEnergy on a vanadium flow battery project in Western Australia with its subsidiary @VSUNEnergy
Commentary starts at 7:52
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Great find that - thanks for sharing. Confirms all my positive bias for IES! Seriously tho, for the UKIB to invest in IES is a huge sign of confidence.
Well if UKIB and UK INSTITUTIONS were happy to buy nearly £50 million of shares at 23p, I reckon they’re feeling pretty confident about their investments having been presented with the future of IES beforehand. I’ve added an additional third in shares to my holding here since (including the Open Offer) and will buy more both before, around and after the new shares land. GLA
Nothing dramatic is going to happen the the SP in the short term. What we are seeing now is the us usual shenanigans of the dealers trading on fractions of a penny to make money. IMHO nothing much will happen until after 24 May when the new shares are admitted for dealing. For me the biggest indicator of a company's health is director dealing. Correct me if I am wrong but assuming that the annual accounts are late June then they would have been in a Close Period since late April and unable to participate in the Open Offer.
So if everything is as rosy as it appears we should see a flurry of director buys going through late June. If we do not then ............
The tariffs announced by America this week are going to have a big knock on effect for critical minerals and Chinese supply chains. Vanadium is one the US has been looking at for a long time and think IES is well positioned.
Cerea, I think most of the 23p trades today were buys - I bought at 9.17 & 9.19 this morning at 23p and these were listed as a sell - the down day at the finish looks like it’s a UT, so this should start higher and readjust at the start of trading tomorrow morning.
BTW - when looking at the actual sells during the day I couldn’t get a sell trade higher than £250 for most of the day and it kept going to ‘no trade’ available
Fun and games with the MM’s - no one knows what will happen with the shares once the new shares are listed, but my guess is that it will trade much higher than 23p by the middle of next month. Expecting some pretty quick and very positive RNS announcements - starting first week of June with more to follow in quick succession. Good luck with what ever you decide!
Sorry 23 not 23.50. No much difference but they were all sales today....
Why is it that today it's a sea of red? Why is everybody selling at 23.5, when the open offer is at 23? I just can't understand what's happening. I took up the offer and even oversubscribed, but now I'm reconsidering the whole thing. I did it to average down as I'm really under but now I feel like it's going to crash and go even lower, judging by the last two days, is that the case? I have to decide by tomorrow.... Any opinion or advice most welcome
Have actually oversubscribed x 3. Am also underwater (after just 3 years) , but not currently a big position. I agree, this is the last chance, but they really do have enough pledged to get to break-even now. It's a punt on Mistral actually working right, but there is certainly pent-up demand, with a good, non-flammable, story. I guess I just want a British company to succeed in this area. Might be over-romantic of me, but it wouldn't take a lot of good news to double from here. Of course, if it doesn't work right, that's my last (at my age) punt. And the rest is NESF, LGEN, RECI and the like, averaging 9% yield to help me sleep nights.
So it looks like yet another open offer where no announced plan by any of management to buy shares in the open offer. It is my guess that the open offer will be under subscribed even with requested for excess shares from some of the shareholders. I have been here in RED/IES for about 7 years and have always bought more in the open offerings . This will almost definitely be my last.
We will have about as many shares in issue as in 2017 from memory about £435 million . The difference is that they're rebased. 50 old for 1 new in 2020 soon after the merger.
I have lost count how much new money has gone in to keep the show on the road. I think it is about £160 million.
In the words of the punk band the Stranglers from the 1970s "Something better Change"
Got my open offer details yesterday from Interactive Investor, ii and taken up my entitlement. Was very straightforward.
Barclays yesterday 16-44.
Yes I emailed Halifax and they have now issued the open offer this afternoon. Thanks
I'm with Lloyds, and got my open offer today.
Thank you very much GBCol
A great explanation. Thanks
Has anyone received their invitation to take up their open offer yet?
I'm with Halifax and they're usually on the ball with these things but nothing received as yet.............other than an invitation to attend/vote at the General Meeting
Doyezee, there will be well over 200 million shares being issued in less than 3 weeks at 23p, so the price isn’t going to move much from that until the placing and open offer is finalised. At that point the SP will fluctuate depending on any news that the company issue ( or as in recent times, on lack of news). Indications are that there are some large orders ready to be signed once this fund raise is complete. If that turns out to be the case, and I believe it will, then the SP should rise significantly.