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Does anyone know the total current amount of shares in circulation for IES and what the percentage dilution to existing shareholders will be given the new shares being offered?
I still like this company and what it has to offer. It's a relief that we now have an answer to the funding gap. Dilution is always a slightly bitter medicine but it certainly beats going into administration. I like the investment interest from Korea. It shows the company has worldwide appeal. And if you're going for a fund raise, you'd better make it a big one. The initial market reaction tends to always be a bit severe so better to get it over with in one hit. It'll be interesting to see how this swings in the morning. My gut says an immediate fall on open but good strength as the day develops as both the news and the scale of the opportunity sink in.
At least this answers the question as to where funding is coming from. Money from UKIB is indeed welcome and may encourage other investors to come onboard who are encouraged by first movers etc.
This is from the LAST fundraiser, not today’s:
The proceeds from the proposed Placing are expected to provide the Company with sufficient working capital to the end of June 2024 at which point the Company expects to have launched its next generation Vanadium Flow Battery ("VFB").
Let us hope that this is indeed the last fundraise and it will carry them through to financial independence…. The fact that the price is close to the current sp suggests confidence. The market could do anything tomorrow, I wouldn’t be surprised either way! But if that remark about June 2024 proves accurate then hopefully we will not have long to wait before news of mistral.
I guess IES needed the investor & cash as stage 1 - is the below statement stage 2!
‘In addition to the strategic investors announced above, the Company confirms it is also reviewing a number of potential partnerships concerning vanadium supply, Australian market development and U.S. supply chain.’
Still no debt which is sort of good, but lets see how the market reacts tomorrow and during the coming weeks.
I don’t think I will be putting in any new funds as part of the open offer, but subject to how the share price reacts I may sell some shares higher than 23p to recycle funds to take my allocation. If the market likes this it could offer the chance to reduce your average price without adding new cash!
I do think the market will like this as funding was the real issue for the low share price, not great on the dilution but I guess this depends on your average buy price and the price not too bad % discount for the value raised v the current MC! (but fully understand it’s not so good for the longer termers who bought at much higher pricing!)
Given the discount offered was small, it indicates there is a lot of confidence in IES's future.
It is good to see that UKIB has learned its lesson from Cornish Lithium and bought its shares at the same price as everyone else involved. UKIB was fast becoming a watch word for disaster for other investors. As TurkeyGuzzler observes a re-rating is now entirely possible and I would think quite likely now that finance for expansion/ working capital has been gained.
So around 28M shares for us and 217M for the instis, UKIB and Koreans. That’s quite some dilution for us.
Guess no other way to massively upscale.
Just hope eventually these dilutive big deals are really profitable so our investments will eventually pay off
Https://www.ukib.org.uk/about-us
We are the new, government-owned policy bank - launched in June 2021 - providing £22bn of infrastructure finance and partnering with the private sector and local government to finance a green industrial revolution and drive growth across the country.
We are wholly owned and backed by HM Treasury, but we will be operationally independent.
£25m from UKIB! Thats a massive boost. + Koreans + Insto's. Balance sheet bullet proof. Stock re-rates now.
Wouldn't surprise me to know news has leaked out. Although only a very small number of trades, doesn't take much to move this. Hopefully some news soon.
We’re up 20% last 5 days and been some strongish buying so perhaps the imminent and expected news we’re waiting for is incoming and a scallywag or two has got an early heads up!! Great to see the SP moving up but the real climb hasn’t even begun yet!!!!! GLA
While I understand that there are plenty of moving parts to consider here; in the round, this still feels a good buy anywhere around these s/p levels at this time to me.. and so I've topped up again this morning.
The new funding round investing institutions/companies should be announced in early May and even if the price they invest at is only an average one versus todays s/p, it will still provides huge certainly of funding for the exciting next - Mistral - generation battery rollout and therefore should subsequently see more retail/professional investors coming on board in short order here .. and with many shares tightly held in this a market leader in an exponentially growing sector, this s/p can readily rally meaningfully off the back of this imminent Funding/Investment announcement
imho & dyor
Also this one gives a spin on Ai / data centres and power etc - same tip towards end
https://www.energyandcapital.com/ai-will-double-global-power-demand/
The Vanadium Flow Battery is the most boring of all rechargeable battery types.
It also happens to be perhaps one of the soundest investments in the entire space
https://www.energyandcapital.com/are-25-year-batteries-possible/
Reported in FT. Shared by IES on X.
https://archive.fo/O4LDv
Sushi - you clearly haven't been following the story here. Looks like you are shooting from the hip due to your extensive range of stock interests. The demand for this product is so huge that the company needs to make a step change in its financial model. They may well need to raise funds as HarChris mentions, and the important question is how they will do it. However, this is the future of energy storage unfolding in front of us. Wait for forthcoming anouncement.
Yes another fundraise coming up although it's intimated that it will be a big partner coming on board so ideally all shares will be taken up by a partner or two and perhaps the directors digging deep into their pockets. Plus some debt financing to add into the mix.
That's about the best we can hope for - if it's a bog standard placing with retail involved it'll be disappointing.
From what is reported on this site below on director holdings it is damn low. Not sure how correct it is but it seems the director's actually own so few shares, it is diabolical. Obviously they are not confident in the business doing well or they would hold more. Seems a long time ago they bought shares and nothing since.
Kept afloat by fundraising and selling shares. Nothing is going to change. it costs more to make their equipment than the money they make in profit.
Downward spiral. Shame the batteries are good. Just cost too much to make. Like the EV industry on the whole there is a big pull back. Anther fundraise?
If you are ‘assured’ Lamps56 it will be interesting to see how this goes then…
I hope it doesn’t end up being taken out, I just have a feeling it will!
I have been in and out of this share since Redt days - even went to a one of the AGM’s!
I have been in and out over the years as things kept changing and I have mainly timed my purchases and sells pretty well so far…
I have a considerable holding in IES so I really don’t mind what happens as long as it’s positive TBH!
Grrshaw: I sense some poorly veiled sarcasm there, but we long term shareholders are only expressing frustration about events over which we have no control. I am assured, however, that talk of a takeover is utter b*llocks.
IES can only be sold with a said majority shareholder approval if and when any bid were to materialise but unless some ridiculously incredible offer were to be made after a strategic partnership is announced, I just don’t see why majority shareholders would approve takeover given the tremendous potential ahead of IES but ‘nobody knows what tomorrow will bring’!
Keep it up Lamps56 and please provide more insight to the share price movements, we need all the help we can get here :-)
Personally, I have a feeling IES will be taken over - hope I'm wrong, but at this price, its a steal for a US based company to steal this from under all our noses!
And as soon as I said the SP was frozen, up it goes, with significantly lower volume than the last few days. Feeling like a mushroom.
There is a very determined buyer that is slowly bidding this up now - perhaps someone with an inside track of the deal being lined up?
You should try being invested here for 8 years!!!!!!!! Hold for gold, investors will be well rewarded here long term and particularly those who have got on board at these incredibly low levels IMO