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I hadn't seen your excellent and optimistic post before I sent mine. I certainly hope everything turns out as you predict. Go well.
are at a loss here. Some are at a very significat loss. And with the mega dilution we've just begun to experience on the back of H&W the situation it could get worse. I'd like to respond to some very good posts of the past few days.
1. spud it would have been impossible for me to attend the GM but given my experience of similar meetings matters are rarely resolved to the satisfaction of disgruntled shareholders in an case. I think a GM to have gained approval for the H&W approach would have been opportune but I know you'll tell me that would have been impossible.
2. crl hi . I'm good. Like you I'm at a stonking loss here and much as I resent that I also resent the opportunity cost involved in keeping the shares while their value diminished. In May JW was voicing his incredulity that the SP was in the .5p region. Since then our BOD hasn't made a single announcement which has impressed the market. I share your concern about Islandmagee but in this coming month the tale will unravel.I don't believe H&W was a brilliant idea. Like you I believe it will eat cash. Already JW has warned that if the OO and the cheeky so called Premium Bid are nt well supported H&W will necessitate another raise in the early New Year.Go well crl. Glad to see the other one is showing signs of significant life!
3. Blair Peach, my thinking is very much in line with yours.I also think the shareholders have been"blindsided" and left with very little positive and encouraging information. The BOD seem to me like people who realised that when the Islandmagee project is underway they would have little occupation so they began to look for other projects. Nothing at all wrong with that but they simply hadn't got funds or easy access to funds to follow their inclinations. So the "fall guy " was INFA which is paying for everthing through it's shareholders.
There is hardly any reasonably large,(or even medium),shareholder here who is not at a loss. Not an encouraging scenario!
When JW became CEO the SP was .65p. Since then it has dropped almost 55%. I don't think anyone expected that!!
Crl…..have no fear….I think your frustration will very soon be relieved.
Submission of planning pre-construction documentation and release of revised construction tender documents should be RNS’d this coming week, then probably in the next 2 weeks after that (all that’s left before Christmas) should follow some really juicy RNS’s for chairman appointment, commencement of enabling works, heads of terms for project equity funding closely followed by the equity funding agreement being exercised and final investment decision taken.
All these are scheduled before end of year and if they are pulled off within that stated timescale the SP will be in a different ballpark
No mention of the Marine Licence in the September update RNS only that the dates of the statutory notice will be issued this year, so it looks possible all the finance stuff can go ahead without the ML actually being issued. I know I have stated many times that I didn’t consider this possible….but extremely happy to be proved wrong.
So the scheduled pace of news flow to come is absolutely blistering and if it all falls into place the market will have no option but to sit sharply up to attention and the SP will fly. JW et al will have played a blinder with the timescales and INFA will have almost miraculously punched a very far way above their weight.
Very very exciting………good luck to the BOD and all LTH’s !!
A little disappointing that there has not been a flurry of exited posts, stemming from giddy shareholders who attended last nights meeting, pledging to buy more shares first thing Monday morning.
If I was as concerned as some of you (especially with large holdings) I would have gone to the GM and raised my concerns.
Thank you. Lack of perspicacity I feel. Not enough honest communication. I think this is my 4th Placing in Infa. To sit at 0.3p with a very large number of shares at double the price is very depressing. Especially as it is same with my other investment. But at least they are book-solid. Infa just seems eternal promise after promise. And then a new diversion that needs more cash. I was in RBS when they did the same. A certain gung-ho about it. Your argument had occurred to me . JW should never have taken it on if true. Adrian P should’ve made I’mgee’s viability clear . This has turned into a mish-mash eating cash. H and W will be big cash-munchers as will those wanting to line pockets in the new European connection. Seen it before. Shareholder pays for it all.
This doesn’t mean that what I say is right....just all I can interpret as yet. All the promised news leading to a new venture which costs . And where does the money come from? And is the info leaked? ( every time).It is very hard for a private investor to feel valued in today’s market. All out for themselves...which I guess is par for the course.
Some concrete news to back up dilution could not come at a better time.
It’s the eternal promises as much as the growing red number that I find depressing.
Moan over.
crl123,
I too have held this viewpoint from before H & W was even a glint in INFA's eye; I didn't like the FSRU diversion either!
As I have mentioned before, my concerns as to the ultimate viability of Islandmagee continue to grow, purely due to the lack on news, hence my pondering as to whether the above are, in fact, replacements for, rather than additions to, the principal project.
I do feel that shareholders have been blind-sided and provided with far too little information in 2019. Not much has been posted here about matters discussed during the EGM; I had hoped that the Board might have used the opportunity to put some flesh on the bones that is INFA - at the moment I am invested in a skeleton (hopefully not a carcass...).
Hi Set1.
Hope u well.
Please articulate your take on matters atm.
Are you still a large holder?
I visit infrequently as the losses are painful in spite of averaging down somewhat in this Placing. But just means holding more!! Value your take.
My opinion regarding sprinting before walking still stays. I know many disagree but I feel the company would’ve been on a steadier footing having stuck to Islandmagee. I don’t need to be disagreed with as I know I am.
As an infrequent visitor here I am still perplexed by the ongoing ongoing cash-cow calls. And the ever-increasing networking complexity in different companies. Rhetorical...who is paying for all of this. I came in at takeover at more than 1p. I have averaged down but now hold nearly half of JW’s holding. And am losing much indeed at 0.3p. I assume others are in this position (?) I am aware of those few who have been here from very early days btw.
It still seems “ promises promises” to me. It is a subjective viewpoint. I am not attacking anyone’s optimism. I have decided not to crystallize losses and to be hopeful. However the big red number just gets bigger .
The two large trades after hours confuse me. They are at a buy price. Other tradrs are hard to classify but many large ones are buys as I tracked the market price Friday.All very confusing. Large sells too.
Trouble is...the more shares in circulation the harder a share recovery becomes in most market cases.
I welcome informed optimism. I guess most are on losses.
Perplexed.com
Blair Peach. You're quite right in both of your assumptions, I think.I do not believe many would have invested in H&W and I also belive that, what with the massive dilution ,the road back to 2p may well be tortuous. Obviously I hope I am wrong on both counts. Thanks for your input.
That was my point. In round numbers, getting back to 2p a share would see a market cap of £75m, I am not sure even the happiest of happy-clappers would predict that anytime soon. Things were looking so different just ten short months ago, with just over a billion (!) shares in issue.
In a previous post, I posed a question (somewhat rhetorical, admittedly) as to whether anyone would willingly have invested in an independent H & W, were such a possibility to present itself; strangely, no-one popped up to say yes...
Perversely, some might say masochistically, I still have some belief in INFA.
This time next year, Rodders...
Dude, Yeah, that's how it works.
Try eight years of dillution, time after time...
Still here though.
FKW.
Si(gh)
So to get back to 1.8p, we need a 600% gain! Excellent for those buying in now, difficult to digest for those that backed the company early.
I’m confident that things will progress, look forward to hearing some further feedback from today’s meeting.
Blair Peach, A share price of 1.8p in January has now fallen to .3p. Just an 85% fall. That really took some doing!
I believe that the number of shares in issue will increase further as Riverfort wash through theirs, is that correct? Even without these, I have seen a 200%+ dilution in 2019. Consider then that a 2p share price in December 2019 would equate to a 6p pricing in December 2018.
I need a drink...
Err, thanks?
The middle paragraph would have done.
You are defo a glass half empty kinda guy. :)
Just sayin'
Cheers.
From this afternoons RNS, "Upon Admission, the Company's issued share capital will consist of 3,554,667,454"
So with this increased issue would existing TR1's not longer have the required percentage to qualify as TR1's?
Or am I being thick. :)
From recent RNS
Subject to shareholder approval at the upcoming General Meeting and upon admission of the new shares on AIM, the Company will have an excellent mix of institutional and retail investors, which we expect will provide long run share price stability and liquidity respectively. The fact that key institutions have sought to make their investment in the Company is a vote of confidence for our future growth plans and overall business strategy that focuses on completing the Islandmagee project and asset development, construction and operations management and asset life-cycle management."
From reading this, it tells me these II's are long term holders and will not be selling in the short term, why would they in any case as there is no profit in it for them. Also they would have invested in the belief the company has a bright future certainly in the short term and I suspect beyond.
As long as they don't take on too much debt in respect of H & W, although a certain amount will be required in the early trading stages, without cash you cannot run a multi million pound company! and the downfall of any company is usually a lack of working capital. You can have all of the orders in the world, if you ain't got the cash to be able to turn those into cash sales, you may as well not bother!!
Mr T
I wasn’t there. There will need to be at least one TR1 though.
Ban- Did they say what institutions?
The £6m placing went to 6 IIs according to investors who attended the meeting.
Mr T, there are 2 billion in the placing! How many did the river get? 100% certain they took part.
Yes, this from RNS 19 November 2019
InfraStrata (AIM: INFA), the AIM quoted company focused on strategic infrastructure projects, announces that it has received a notice to convert £100,000 of the first tranche of its £2.2 million loan facility with Riverfort Global Opportunities PCC Limited and YA II PN Limited (the "Loan") into 36,337,209 new ordinary shares of 0.01p in the Company ("New Ordinary Shares") at a price of 0.2752 pence per New Ordinary Share.
So could be Riverfort as they would be taking their profit!!! must be gone now though surely?
Mr T
Thanks guys.
I also heard theory elsewhere (from well known and respected contributor) could be forward selling by Riverfort .. I did have to google it