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CR,
I can guarantee here and now there will be no FCA investigation, a toothless organistion that is effectively useless in all areas in my experience.
Officially any leaks and obviously there were some as the press got hold of this, were after market hours therefore nobody could have benefitted? Now on the other hand if news was leaked early doors Friday am then that is a different matter, it may have been but you cannot be sure. I suspect rumours were circulating all last week in and around the city, and some kind souls did leak the information hence the drop in the sp to very near the placing price.
Mr T
So for the so called LTH, if your really in this for the long term and actually have an interest and belief in the gas cavern project then your in this until the gas starts flowing because you can guarantee this morning’s intuitional investors are here for dividends not a few penny raise in SP so complaining about a 10% drop in the last 6 days or speculating about a 5p price in 6 months is just wasting a lot of peoples reading time. Remember owning 1pc of something is better than owning 10pc of SFA. But if a company with no money was the best bidder for H&W then John and Arun have taken on a huge challenge/risk and I just hope it doesn’t actually deter resources from or have a long term negative effect on the original targets at Islandmagee.
I have to say I am not surprised at this morning’s activities given Infrastatas recent ducks and dives – I am more surprised in some of the shareholders shock and anger – maybe you need to go to Specsavers if you didn’t see this coming or maybe you need to calm down and accept this is only a sign of things to come. It really isn’t hard to dig up information from the internet and come to realistic conclusions. Infrastata had to take a loan for the deposit of a shipyard that has been losing money for years and of course with 70 workers and a vast leasehold area was always going to have a large monthly cash burn (I agree with others this is probably half a million every month). So as smart as JW seems where was he ever going to get finance to purchase assets that cannot really be used anywhere else (I don’t think any bank could repossess 2 big yellow cranes and put them on Gumtree if mortgage payments weren’t kept up to date). Coupled with the fact that H&W has no secured contracts (this is why it went into administration) and potential profit-making work (i.e. the naval stuff) is years away means that any revenue the docks make would probably just to clear overheads and keep the place alive until the day that Islandmagee is actually approved and needs some steelwork made. So is seems the only way the rest of purchase money was ever going to be secured for the shipyard was to offer equity to someone (and obviously that deal was handshaked in the city last Friday – hence the SP dip, press leak, RNS and placing since). What I really don’t understand from some SH posters on here/Twitter (and try not put me in the same negative club as JR the ex-executive) but this is clearly not going to be the end of share dilution. H&W obviously is not going to add cash to the IF bank account anytime soon – if anything it is going to need more handouts and Islandmagee is going to need millions if not tens of millions to actually develop whenever the marine licences actually come through (maybe saving the local shipyard jobs will help accelerate the latter). Again, where is John Wood going to convince any institutional lender to give him extreme amounts of money to continuously dissolve salt underground for a couple of years before eventually putting gas in it and turning potential into revenueu for repayments. As I said before I think the technology is brilliant and I hope the environmentalists realise this too and back off so this can get going but I can see years and years of more share issues and dilution ahead because without it the original project just cannot be achieved.
You are lucky to have found two good opportunities!
100% got my support.
I don't have much AIM experience - pretty much INFA and bailing out of one small mining company, so probably a little naïve. However it does strike me that JW is coming in for a lot of stick more based on impact on short term share price rather than the best long term deals for the company, which are going to be hugely rewarding for LTH's (once through the choppy waters !). Would have been great to have sold at 2p and buy back in again now, but all out of crystal balls when I checked in January. I do hope that Shareholders support him at the AGM
Sorry....wrong board.
My view is this......If the other companies know there is an inside Nornickel man, they know they are going to have to bid probably even higher than market value if they really want to secure it.
China are not going to be impassive here!!!
Here comes the mother of all bidding wars !!!!!!!!!
3 Billion plus in my very humble opinion and for once, will NOT be happy to be proved wrong. We are now in a freshly built ball park !!!!!!!
Happy days....but DYOR !!!!!!!!!!!!!!!!!!!!
Longlad- to be fair JW has a lot of skin in the game!
Just saw the rns, definitely good news..just hope the institutional investors are reputable not like some of the recent acquaintance JW has made (Riverfort!)Notice that it was only Arun’s name under ‘director participation’!
Where is eu money please ?
I think it was Sunday the placing price was printed, Agree it was amaturish and disrespectfull to current holders but also agree it would not have changed anything.
Phoned Allenby. There will be opportunity for shareholders to buy at Placing price as stated but details( allocation) not announced yet.
On a personal basis I find it utterly shameful and worthy of FCA investigation that the Placing details were leaked to the market on Froday again(!) and systematically abused. Utterly shameful and if provable probably breaking FCA rules. But the get away with sh** in the City.
Interesting that Trinity Placing last May was not leaked. Sudden wham on the day. Different broker ....not that that has to be relevant.
Shameful of Infa for the 4th time. I did mention it gave signals of a Placing on Friday but shameful nevertheless Mr. Wood. But I expect your sleep will not be disturbed.
It is worth reading again:-
"The Company is now on the cusp of a transformational change. Along with the cost savings that will accrue to the Islandmagee gas storage project, this multi-purpose fabrication facility in the heart of Belfast is expected to provide multiple revenue streams. Upon completion of the acquisition, the Company will seek to enter into contracts as soon as possible with a view to kick-starting revenue generation, which will be a significant milestone in the Company's history. We are bullish about the acquisition as it provides immediate and near-term revenue generating opportunities as well as significantly increasing the value of the Company's balance sheet."
Trying to sell one of my other stocks to fund the next top up before the 0.40's
I warned Mith 1967 yesterday of KARMA and what happened to OEX = KARMA, I never go and post on boards i dont have an interest in.
Bloody hell that is impressive, all done and dusted. Ive know bookbuilds fall well short of the intention, so I for one, am very reassured.
Infa is now a completely different beast and if the instutions are backing this with 6M then that is good enough for me.
I was going to add this morning that JW and the broker must have had some inkling that the offer would be taken up, otherwise they would not have gone ahead. What was it Doc H said, Infa desperate, well Doc eat it as doesnt look particulary despearate to me.
well done JW and the team, now the real fireworks may be unleashed.
Mr T
at Placing price. I answer my own question. Non-investors will pay more unless it drops below Placing price.
I would expect details will be rns’d this week. Well before AGM. If I were a new investor I would be buying now as they may include these investors and it’s still dirt cheap. Need details asap.
Means top up time for me!
I agree. They seem to want to run before walking . Both new projects were unnecessary and shareholder-abusive. Should have concentrated on IMager. Like me you have been through 4 Placings. Each one was leaked. I know some peple dosagree but it’s too gung-ho.
Ultimately we have to roll with it and give it time. Same happened with Trin May last year. Placing at 28p. Wish I’d sold. Now 9p.
Both of these companies see shareholders as easy meat and ultimately wholly dispensable-as most companies do these days I suggest.
The practical response is to sit it out.
I read that investors will get a chance to buy at the Placing price of 0.3p. Is this correct?? If so when and how???
"Buy" dyslexic fingers!
Well it is certainly the last chance to yub at the placing price, Could be blue by end of play.
Hi Tango1 - You are right institutional buying is what INFA lacked & will now give it some stability provided they are more than 3% & will encourage others next time.For me INFA is all to play for & it is exciting times ahead.
With new institutional buying that should as JW states give longer term stability as they will be in for the long haul not trading it.
Good points Radders99 & I am happy to show Strong Buy following the 2 RNS's today it would appear to me that they had people lined up to complete the book in a morning & that in itself is positive news.My additional loss this morning is not too painful so from now it is upwards for the SP.For new investors the SP is a snip it is a pity I do not have any more funds not even behind the sofa.GLA.