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Navantia a true global presence, First of many revenue streams to be announced shortly.
Why wasn't this news prior to primary bid, could have been higher and how can this rise if shares on offer on there now :()? RNS's wrong way round imo
Use primary bid - fill the coffers!
Worth a punt am buying some into my isa ,looks very good to me gla.
Booom time
MOU with Navantia the Spanish shipbuilding company.
How do you like them apples
Cheers Radders.
Setanta: Respectfully, we agree to disagree.
Dear Longlad,
Appreciate your views. Given that we don't run the company on a daily basis, we are not privy to the intricacies of the daily grind. We can only, at best, try and join the dots and make sense of it all.
Couple of things come to mind. I don't think JW is adopting a scatter gun approach. He is aligning projects that link up with each other. The current team have experience in energy infrastructure and running operations like H&W. So I think they are playing to their strengths.
I actually agree with the whole strategy of creating a portfolio of assets and not just trying to live off one. A number of fellow LTHs have asked why not complete IM and then venture into something else.
The trouble that I see with that argument is that opportunities don't wait for anyone. If one exists and fits into the overall strategy, we should go for it. To be fair, that's exactly what JW has done. By doing so, he has not jeopardised IM's position, rather, strengthened it by creating a bigger, stronger and more tangible balance sheet.
My view is simple: this is currently a non-revenue generating company. H&W has the capability of generating early revenues and making this company self-sufficient financially. There is no deviation of focus and both IM and H&W are aligned. I therefore think that despite the short term pain, the returns will be very good. For me personally, I would rather have a small stake in a £500 million company than a large stake in a £6 million outfit.
Hi Droderick
You have been a voice of reason and have prevented many from throwing the towel in with infa
Everyone’s perspective is obviously going to different depending on when/what price they entered.
To comment on some of the points you made;
1. Primary Bid is an easy lever for companies to raise, if its for good reason then perhaps it is justified but what if it’s to satisfy the latest whim of a ceo who can’t concentrate on one thing at a time. There might be a plan to join up the projects and extract synergies but that is granting someone a lot for whom has yet delivered nothing.
2. Current Shareholder alignment, it’s a tick box many shareholders look for. Not Past shareholder alignment !!
3. What the bod have delivered is by far outweighed by what they have failed to deliver.
As I said earlier everybody’s perception will vary on where they entered. I’m down after averaging down considerably on multiple occasions. I shall not sell but I will not buy until JW can proof that he can deliver, back what he says with a financial commitment or show he isn’t another aim muppeteer who has a vision but just needs another primary bid hit to get things started.
Goodness gracious...
Droderick .. breath of fresh air on the board .. Setanta always measured and informative, and provides a genuine balanced view. Really appreciate your commentary chaps.
droderick your latest post is miles away from anything I said. I don't get involved in trying to gainsay someone elses interpretation of what I posted. So there I'll leave it.
Dear Setanta,
1. Primary Bid is just one short run mechanism and I don't see anything wrong especially given that a £5.5MM raise has a more dilutive effect. And may I add, all for good reason.
2. Not sure why the BoD have to show their commitment by constantly being asked to but shares. I was referring to your implication more than anything else. The expectation is for them to work their socks off and also bring personal financial resources to keep us happy - that's unfair.
3. I laid out in earlier posts the milestones that the BoD have achieved on IM. The milestone for the ML was achieved on 31 Oct and confirmed by DAERA. It is now in their court - what more do we expect?
I am certainly not trying to single you out for criticism. That is absolutely not the intent. All I am saying is that there has to be a degree of reasonableness. The trouble I am seeing is that the frustration of the last 10 years is being boiled over onto this BoD, who are doing the best they can and more, in these very difficult and uncertain times.
Setanta
Exactly the three points you make are very relevant. I would add one further point, why have we not received the 1.6M we are due from the EU.
These funds are overdue, well overdue.
I think all lth should hold on at the minute, I can see a period of good news here on all fronts I,'m just a little impatient now. Remember it's been nearly 12 months since JW told us that a new financial backer had come to the table with a very good offer re the IM project. Since then we have had no further details on this whatsoever, why?
I belive this all has to be wrapped up in the next 5/6 weeks if FID is to be achieved by end quarter 4.
So I for one will be waiting and expecting a rich vein of newsflow over the next few weeks, and I also expect the EU money and a new Chair in position.
JW over to you.
Mr T
Amazing droderick that you managed to reply to a post I never wrote.
You made five points and added two paragraphs none of which addresses my post or my feelings.
I made just three points as follows : 1. That I consider the primary bid a dilutive wheeze. 2.That when they were in the recent open period the directors buys were not impressive. 3 That what we investors need is some positive good news about IM.
Isaid nothing about pessimism, or the directors paying for anything out of their own pockets, or anything else contained in your five points.
Droderick, I think that's a little unfair to isolate Setanta. I'm sure we all appreciate how things have moved on , at pace, since the coup. And just how bad the previous BoD were. And because of them, we are still being blamed for issues that they created. See Twatter.
These new guys have done an exceptional job. And that has kept me invested. But, unless you are a recent share holder, we carry that long suffering history with us. More so with our original buy in prices. With that goes the endless averaging down just to stay within a chance of ever turning a profit. But, we kept on doing it. Time after time. But, it does get boring. You do loose hope. You do wonder if you should just cut your losses and more on. But then, they go and buy H&W. WTF?
No one knows what will hapen next. Crash and burn, as some of those on twatter would like, or become all that JW would like. Or, somewhere in the middle.
Anyhoo, don't jump on individuals. We all feel this. Some might be more vocal. And, maybe far more eloquent, than me.
But, we are all in this this together.
Cheers, Si. :)
Dear Setanta,
So you expect the following:
1. That the board works for free
2. They spend no money on progressing Infa because of dilution
3. Make all the progress made in the past year for a total expenditure of zero
4. Work very hard with zero expectation to run a successful business because no one should fund the company
5. Finally if at all they need funds, they should pay for it from their own pockets but, obviously, all shareholders should benefit from it
I can appreciate the disappointment of LTHs when this company was dead in the water, but with the kind of momentum and strategy the current board have, I am actually disappointed by your pessimism.
If you can honestly tell everyone that the work put in and milestones achieved by the current board over the last 12 months is far lower than what was achieved collectively in the past 10 years , then there is merit in your pessimism. Otherwise, I don't see the point of your discouragement.
Cheers Tango. Looks like you answered my question while is was writing.
So, let's say the primary bid is successful and is closed. Do we still get a chance to participate through our own brokers in the OO. Even though I'm reluctant to do so as I would be diluting myself I would like to have the chance to bring my average down. Tempted to just use funds in my trading account and buy on the open market and have done with it. I know that doesn't put money into the companies coffers but, TBH, they've not done me any favours in the past. Just sayin'...
After nearly eight years of dilution I'm kinda fed up with it. Will be over 4000%, not including outstanding warrants, options and the like, from just 91m back then to ... unknown billions.
Si ( or is it Sigh)
and dont forget you still have the option to buy through your broker at 0.3 (got my letter today) just waiting on the next letter stating howmany you can purchase.
There is still quite a few days left for take up on primary bid so I will keep my powder dry and if positive news is released I will take advantage of it.
Setanta,
I could not have put it better myself, I would have thought that before this wheeze was introduced some news on the IM front should have been forthcoming, something to push the sp higher, into the 40/50's for a start. Then this primary bid would have been more attractive to existing holders would it not!!
As it is, it is not, it's just more trouble than it's worth imo.
I wll only buy more when I see some positives, I'm still confident going forward but I need reassurances.
Mr T
Setanta
If JW had have put out some solid news, the Primary Bid would have been snapped up at .3. Instead it’s trust I’m your man, all ducks are lined up. If our man doesn’t start bringing something to the table (not his silly self checked checklist when it suits him), then Primary Bid will be back and at a lower price.
I would certainly discourage investors from participating in the primary bid. It's dilutive and god knows we've had enough of that. As to the Directors buying, well when they were not in a closed period,(quite recently), their purchases were hardly impressive. Primary bid is just another wheeze. What investor need is some positive good news on the IM front not more confetti.
Just listening to BJ live at Teeside and he is adamant that shipbuilding is going to see massive investment if he gets in and stated contracts with newzealand,Canada and hopefully America foer the new frigates. Australia already got order in worth £14B.. Tide is certainly turning just these few weeks to go..... Come on JW throw us a fish!