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Fantastic news!!!!!!!!!!!
Thats bloody excellent.....the institution is obviously privvy to the bigger picture.
GLA!!!
I dont mind the extra 2 billion, Needs must- But what it can unleash is potentially very good indeed..AIMHO
Another 2 billion shares. :(
Well that was quick- would be good to know what institutions but sounds good so far...
I was hoping for some good news along with the placing but on reflection: Any good news today would have been lost into outer space as the placing would have taken presedence, I am happy Riverfort are not financing us (other than that agreed) as that would have been horendous IMO- I dont think any of us are privvy to the big picture at the moment but in order to complete this placing there needs to be a steady supply of good news (which is very possible).
FID at end of year will be for 7 Caverns, which is still 12 months earlier than original plan for all 7 (Q4 2020). DAERA have all required paperwork and for them now to just agree public consultation dates (could drag out). Equity funding not dependent on Marine Licence. EU Funding - hard for JW to 100% rely on but can only state what he has clearly been led to believe. H&W has the potential to turn on revenue stream and appears to me to have big advantages to the main Gas Storage project - so seems a sensible approach in terms of risk rather than reckless, plus as mentioned earlier - a lot more senior stakeholders will want to see INFA succeed. We have but a few weeks to really see this play out and I would hope that all can be patient as seems like a daily panic at the moment.
Well put Setanta, I wonder if the motivation for H&W is a behind the scenes prerequisite to obtaining the imminent go ahead for Islandmagee. If so the fine, otherwise we could have sat on the project and avoided importing considerable risk and financial dilution
I really hope that my fears over Islandmagee are unfounded...
I cannot understand what has been happening at INFA this year.
that this ,( the placing and the rescue of H&W ), may fail or be rejected by the shareholders.
There was no reason to rush ahead at this point. Infa has a backstop date until the beginning of January 2020. By that time the Islandmagee FID is scheduled to be completed.
The proposed contribution of the executive directors to this nonsense is ludicrous and probably represents less tha a couple of weeeks salary.
Bear in mind that INFA is going to fund the ongoing costs of H &W which will eat up at least £1M of the monies being raised.
Note too that the mention of the 10-15% saving on "projects" has been dropped in favour of something unspecified.
WE DO NOT NEED H&W NOW. Lets get on with the Islandmagee project and when the FID for that is completed the BOD can turn their attention elsewhere.
Dawski,
I assume the board cannot announce any contract etc re H & W until they own it!!
Then and only then can they issue any contract news.
Mr T
Will bring this together. That’s all. I also have a lack of patience. Normal. Large 5 figure loss. It’s not gonna be any clearer for at least 4 weeks. Then longer.
That the Directors have not been taking out anything like a fair reward for 6 months ..accepted that today is NOT a god news day and maybe they should not be rewarded for the huge drop in SP this year at all... but hang in as H&W is full of promise ...if only the BOD will announce some detail on it's actual prospects in the development of naval and other contracts and enterprises.As you all are saying some meat on the bones needed .£20K contribution is a token considering that we are NOT employing "Fat Cats" here ! ...IMHO of course.
Got one aspect correct here the sp is hanging around the. 030 mark which is what I expected, otherwise a bookbuild will be a pointless exercise.
Let's see what the outcome is at the end of play.
Mr T
Very well put Loosegoose....I'm a LTH with a small amount of AIM experience and a paper loss greater than JW's total investment in the project(s) he's responsible for; loss of focus or is he diversifying to try and find an escape route?
that if the present directors can only be bothered come up with £ 20,000 then they too are somewhat skeptical of the future.
Not much news from the original "core" project of salt cavern gas storage. No specific details on the marine license progress. Much news on H&W, FSRU, Eu "non-refund" for FEED etc. No news on the "core" project. I invested in a gas storage company. FSRU, ok. H&W might be an enabler to reduce construction costs so , ok. I didnt really want to be in a shipbuilding stock so unless something moves in the coming weeks on the marine license and the gas storage business I invested in, I might have to re-think whether there is a "super-plan" or whether we are grasping at straws.
To be honest- the way government are speaking (UK Ships built in UK Yards) the demand for the business will be far higher so resale will be multiples of the price we are paying and JW is probably fully aware of that.
Agreed Tango no point in selling at this juncture in any case. This in my opinion is the float of a new company ie H & W which is much larger than the old Infa so it depends on how the markets view it. I'm surprised there isn't a trading halt but I belive the sp will stay around the. 3 mark today otherwise the book build will be pointless when you buy in the market cheaper.
So a bold move by JW if it comes off we could be looking at a multi million pound company one day if as you say all the ducks line up.
Crucially though once the placing is done I will be looking for multi million pound contracts rolling in at H &,W that could be the only reason for taking this on and indicating that a ramp up in workers is coming.
Mr T
Also a lot of Business if they can pull it off!
That's a lot of damage
Will it work? . Markt cap 5.0m, trying to raise 6m! Eye watering dilution. Glad I bailed on Friday after placing rumours albeit at a 500 quid loss. But lets hope they do get it, as H & W now seem crucial to the future plans.
Morning Mr T, I will ride the last wave to see where it takes me, I will await the letter and depending on the days inbetween as to wether I build on my holding or not, Still potentially a lot of news to come in other areas not H&W, But the ducks need to line up pretty quickly. IMO
Surely a good move...linked to IM project maybe permits are a done thing...relationship with Vitol and there Companies who use fabrications, future works guaranteed by government? Something that will save money in the future and bring money in...Future chairman could be the key to all...
If the twitter lot know about the rns first leaky ...
Morning Tango
This is a huge move from such a tiddler and will either be a company changing one for the better or a huge mistake. The clue will be in the book build result if they get the cash then a very good sign if not what then. I think we have to see it through now because if everything does come together then as I say we will have a very different beast here.
Poor fayre though that everyone knew about this before the shareholders!
Mr T