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ThisTimeNextYeer,
I will have a crack, probably tomorrow!
Standard reply they probably send the same one out to many enquiries each month
Strange choice of words as they can not make any decisions, only opinions.
The reply:
DAERA Marine Licensing Team (MarineLicensingTeam@daera-ni.gov.uk)
To:you Details
Good afternoon Mr XXXXXX,
We acknowledge receipt of your email.
The Department continues to process the consultation responses and has not made a decision in relation to the marine licence.
Regards,
Marine Licensing Team
Chrisatrdg:- the reply
Dear Chris thanks for your letter and the marine licence will be released next week but don't tell anybody, and we are sure the project is "SHOVEL" Ready and uncle Boris will be paying INFA a visit soon.
Regards
DAERA
To:MarineLicensingTeam@daera-ni.gov.uk
Dear Sirs,
Thank you for your e-mail of the 21 April 2020 & I am now replying on Wednesday 29th July more than 3 months after my initial enquiry concerning the Islandmagee gas storage license.
My question is of a more generic nature & to ask if there has been any work on reviewing the application since the lock down.
It is appreciated that there are limits on answers given but after 3 months it does not seem unreasonable to ask if any progress has been made particularly as a positive outcome for the application would enable a 'spade ready' project to start which would be good for Northern Ireland's economy.
I look forward to your reply a link to the register is below.
https://www.daera-ni.gov.uk/articles/marine-licensing-public-register
Regards
X.X.XXXXXX,
We were told the placing was for 2.6bill shares yet only 1.8 billion has been issued...... still another 800mill to go (8 mill now).
'Usurious'. That's a brill word. Being honest, i had to Google it, lol. I imagine with that vocabulary you're a lot brighter than most of us here BP. Being a buck eejit myself not too many folk need to Google anything i ever post, lol.
On a serious note BP, without looking back and what's been done previously (we can't change that) what would you like to see happen going forward with INFA ? I'm talking practically, ie where you feel they should focus / not focus and how they go about doing that ?
I know some folk here have suggested you can be quite negative, but being a shareholder yourself and remaining invested in INFA, i believe you must have some sort of positivity on this stock and some idea on the method you'd like them to progess.
Here's the challenge, lol. Tell us your thoughts on this and try to err on the positive side. You can do it BP !
Surely, paying off the usurious debt facility from February would be high on the list of priorities?
With an additional 9 millionish on the bank balance this leaves H & W now able to tender for work they would not previously have been able to carry out.
The reason they couldn't do some contract work is that they needed the funds to have the goods and materials available to do the work. As most contract work is paid on completion INFA need to purchase materials up front themselves. To give a basic example if INFA were simply anti fouling one of these big ships in dry dock, INFA need to purchase a few tins of paint upfront.
Now take this upfront cost when they are purchasing high value materials to do a job and you're talking quite a bit of capital outlay prior to a spanner, wrench or welding torch being lifted (or a payment for work being received).
The bottom line now is they have 9 million more to put themselves in a position to get bigger contracts.
This isn't just my point though. Obviously INFA seen the need for this capital raise quite a while ago to gain bigger work, and hopefully 'the suits' (said respectfully) behind the scenes have been pro actively tendering for this type of work in anticipation of gaining this additional working capital.
If they have been successful in getting letters of intent from potential customers (pending confirmation of greater financial stability to complete the work), then all being well we should in the near future get some positive news re contracts work being acquired.
I'm saying this as I believe this 9 million capital raise has been done for positive purposes (to gain bigger work) and they simply didn't need the money to stay afloat (soz for the shipping pun).
Again, just my out loud thinking.
Thanks for answering me Tango, my confusion is cleared up. I think the psychology of being at 35p instead of 0.35p can be seen as a really beneficial thing.
TakeAimFire, in that context I take it back...I guess now its over to JW to show us what our money has bought...
re skin 10:48
I think a 10% drop is very lenient.
We have just had a 64% dilution.
The Mcap was 14m, we just raised 9m.
9 / 14 x 100 = 64% that's quite a chunk.
A 10% drop is more than fair IMO.
ollie- you now have 180 shares as they have been consolidated for every 100 shares of 0.035 you get 1 at 35p, your broker is probably in the mix of converting your holding.
Sorry could someone explain this to me, I currently have just over 18,000 shares, what does this mean I can see that I am unable to sell my shares and am unsure on the sudden rise
-10% is a bit of a **** take...
So continues the cycle, ready for the next fund raise and further dilution.
Agree Longlad- Positive news is way overdue. IMHO
Tango
Yeah, I really can’t think of any examples where a share consolidation has been beneficial for the the share price.
The company likes the image of the share price not being a fraction of a penny , lipstick on a pig is a bit harsh, but they’ll need to bring out some news!
Though we are equivalent, down 10% on yesterdays close :(
Your shares will be the same value as your holding is divided by 100 and the sp multiplied by 100.
INFA is not showing on my account after logging in to my broker's website. Will our holdings still be the same value? Unfamiliar with share consolidations
Think they should of done the consolidation after the cash raise!!!
Go, I take it that is a price for selling. Best I can buy at is 35.8
Taken place now 35.145