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Not sure Peel funding needs to be RNS , I maybe wrong though.
Yes that was a month ago ? ... things can change quickly. I know you need the share price lower to get back in but all your posts are making you look desperate. Obviously there is a risk here , and valuation is impossible at the moment. Wait for the circular then you can make informative posts.
Yellow , why do you think Peel don’t have a financial partner ?
Yellow , what a ridiculous thing to say , what does it matter how many employees PHE has ? They have kept costs down by having fewer wages and David Ryan has been taking shares instead of money for his. ( also at a much higher price than where we were trading at the time)..A great show of his confidence in our unit.
As stated before we will only find out W2T real value in a few years time when hopefully a few of their Asian contacts come good. I am sure there are plenty companies keeping an eye on how the first few units are rolled out by Peel ( who we also wouldn’t have without W2T)
If we are not valuing W2T being a private company on the basis of its balance let us look at the Cooperation agreement with Peel. The worst case scenario gives a license fee revenue to PHE of circa £2.9m. The question which needs answering from the shareholder circular is will the total revenues from the collaboration agreement, with any necessary amendment, justify the valuation put on W2T. That is an individual jusgement call for each shareholder to make. If the answer to that question is no then the question becomes would the acquisition remove any impediment to other agreements being reached which would raise additional revenues. If the answer to this question is yes then we would need to look at the total value of the additional contracts that could be agreed to see if that would justify the acquisition being approved.
I am going to anticipate one of the points Manabouttown is likely to make. No I do not have any reason to believe that the impediment point is a factor but I am puzzled by the timing. At the time of the collaboration agreement the current arrangement did not seem to be an issue so what has changed that it now is a issue?
Not sure BumbleB, it seems to have just evolved.
So at the beginning W2T were brokers working for PHE. At what point did they start running the show?
The planning application is in the name of W2T & Peel. Not PHE.
So if/when planning permission is granted, that permission will be in the name of W2T & Peel.
W2T have the lease for the land from Peel. Not PHE.
The grant that was recently announced will be in the name of W2T, not PHE.
However, after the takeover (assuming it goes through) then because W2T will be a 100% subsidiary of PHE, the planning permission, the lease and the grant funding will all belong to the enlarged PHE group.
But I imagine that because the planning and lease will be in W2T's name that this will have to be considered as part of the value in the "price" that PHE will be paying for W2T.
However, as I posted earlier, we need to wait for the issue of the shareholders' circular in which the BoD must explain and justify the "price" and other terms that they are proposing for the takeover.
Incidentally, I'm not expecting the shareholders' circular to be issued until after the planning permission has been approved. Bear in mind that the grant of £1.25M will only be awarded to W2T when they have obtained planning permission and funding for the first DMG unit, which they must achieve by 31st March. So perhaps the takeover will have to wait until all of these things are out of the way so that there is a clear road ahead.
I don't know what they're planning of course, just a thought.
W2T has signed a 124 year lease agreement with Peel Environmental for a Protos energy hub site plot. Doesn't that then transfer to PHE.
Wait for the shareholders' circular to be issued. PHE's BoD will have to explain and justify whatever they are proposing regarding the takeover.
Piltick wrote a very nice summary on this point (additionally to the quote below PHE would also get the £1.25m(?) grant due to WT2). I hope Piltick doesn't mind me quoting him here -
RE: Waste2tricty ltd12 Jan 2020 19:45
The value of W2T is not about what is in its balance sheet, it's about what rights it has got etc. The planning application is an example. Yes, the application has been made in the names of W2T as developer, and Peel as land owner. PHE is not involved in the planning application but they will supply the gear to W2T when they are ready for it. But by taking over W2T, then PHE will automatically get all of the rights and permissions that W2T will have. Basically that is what PHE are buying, not value on the balance sheet.
I am in a position to buy shares, but I cannot understand the valuation placed on W2T, can anybody help with this please?
Co House shows mutual interests between ...PHE...W2T....and PHE. Most worryingly not the sort of value one would expect to find. Any help much appreciated just pointing me in the right direction would be great. Many thanks