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GGG, you said,
"Guys they could be exercised (at nil) to drop into the mkt for immediate cash because things aren't moving as hoped."
--------------------------
NCCL raised £650, 000 May 15, 2020, plus a further £74, 000 to pay certain creditors.
Company said:
"The Placing provides the Company with sufficient general working capital until the end of Q4 2020"
Financially, we are in a strong position right now and did not need the money raised via yesterday's exercising of options (though the money will be welcome am sure). However, they were there to be exercised and now they have been -- just ahead of some important news :-)
Extremely good to see a good rise yesterday. Feel we about to build from here.
Good luck to all of us :-)
Guys they could be exercised (at nil) to drop into the mkt for immediate cash because things aren't moving as hoped. Depends whether you're wearing rose tinted glasses I suppose. I'm disappointed that Hanno hasn't thought to put the exercise price in the rns. Another rookie error.
I'll pull back on my views of Hanno and his wasting shareholder money on his brother's exploits when he finally starts delivering the big pieces of news for the only project that matters. There's a few news items now pushed into H2, but the most important is the tariff, which has already slipped considerably - up to 6 months from the last update. He needs to deliver absolutely everything else in the next month or so for me to trust the guy is capable of getting it done. He has the Term sheet, EPC, and historical audit to come back with in the coming weeks. The new timetable will only have a negative effect on the SP as our African friends will undoubtedly extend everything, and will serve to remind shareholders that we're reliant on quite unreliable local parties. So if he has any common sense at all the new timetable will be delivered alongside something like the term sheet (or more news items), so investors can see that other important workstreams are being ticked off and it's just a matter of a little more time for our local partners to get their **** together and approve the all important tariff. The tariff unlocks all the other major milestones leading to FC like the PPA etc
Before anyone calls me a de-ramper I'm still cautiously buying under 3.5p - the latest purchase being 125k this morning.
Badger - Thanks, I see now, of those you mention, only 1 million exercised in 2019.
CF73 - I agree, positive.
Thanks for that chaps. I still find timing extremely positive. Why exercise now at, essentially, lows?
...We know there's important news on the near horizon, is one critical reason...
Lancaster - nearly all, still a few within their expiry date left. I assume todays are part of the 868,627 which are valid to 2028.
My last message should have read. 'Badger- As far as I can see from the accounts, any remaining 'zero priced' options which had not been exercised, are now past their exercise date.'
Not sure if there is an edit facility.
Badger- As far as I can see from the accounts, any remaining options which had not been exercised, are now past their exercise date.
Chris/CF73/G_G_G - there are a bunch of old options that are exercisable at zero price. There were 1m exercised last May which were also at nil.
See the top table on Page58 of the accounts
https://www.ncondezienergy.com/wp-content/uploads/2020/06/2019-Annual-Report-and-Accounts.pdf
GGG, if you not on Twitter, then get on to Twitter. You can Ncondezi/ NCCL, in a tweet, and use ti ask any questions or prompt them etc.
...I see the exercise of the options as very good thing - money in bank - and a very good signal, being that they have been set at higher marks than current SP but someone is prepared to pay to exercise them and have the shares in the market, even though they just paid more than they are now currently worth on being issued and admitted to the market.
Am guessing this is because is in readiness for news and that they feel confident, as otherwise they taking an immediate hit - a loss they could have easily avoided!!
Strong positive in my view.
There are no options lower than the current price so they must be at a premium, bit odd.
Surely they should (would) mention the exercise price especially if it's at a premium to the current SP and represents a good chunk of cash added to the bank. I remember years ago we were getting excited about the loan conversions at 10p while waiting for the JDA to land. It had a +ve effect on the SP so not sure why they wouldn't release such information. It's not like it isn't important. Hanno really does need to lift his game.
Am guessing - and wider consensus seems - these Options were set at SPs at a premium to this.
Money in the coffers. But timing is of particular interest to me. Wr have Timetable and Shareholder Agreement Terms Sheet (SHA TS) due soon.
Feel that timetable should have come before SHA TS. SHA TS was due for completion in the 'coming weeks' - that was June 19th, now two weeks ago. So we are now very close to some BIG news.
Exercised for how much...?