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Pokerchips, I've no desire for a protracted re-run of the RR. debacle.
The ex date is all that matters to PIs with nominee accounts. The record date is used for the allocation of provisional entitlement letters to certificated holders. Holders who sell between the record date and ex-date should forward these to the buyer.
What do you suppose the "ex-entitlement" date means?
You cannot decree retrospectively that shares bought prior to the open offer announcement don't qualify. That would be trading in a false market.
Looks like a few private investors are already buying in the market to prevent any dilution ..should the placing all go through
I wonder why they buying above offer price now hmmmm
Oh look they buying up those sells hmmm DYOR ....
" the BOD have given "0" reason to invest" Well that's obviously not true - we have a salt cavern awaiting the ML and have since bought H&W belfast, Appledore, Arnish, and Methil, and have generated maiden revenues and have billions in potential contracts in the pipeline.
"they offer a placing at a virtual 25% discount, you should ask why!" Because bookbuilds don't happen quickly at high prices?
If you believe JW is just some shady character out for bonus money and not to build this company then yes I agree - do sell up and move on. Good luck out there, it was nice talking to you. For the rest of us I am happy to wait.
Well if you all DYOR,and realised something big is going to happen you sit tight and wait to be rewarded imho ,speedy surprised your off when this is about to take off gl.
Poleaxe
Record Date for the Open Offer - 6.00p.m. on 30 April 2021
" They go ex-entitlement tomorrow, meaning any shares bought today qualify for the open offer."
err no...it means that you have to SETTLE anything from the T+2 by end of today ....because if you haven't ..(even if you bought before 6pm last friday.) .you wont get the offer..
The cut off date was last Friday ..... you dont buy them today and get in on the offer
sorry
Narada, youll get given the opportunity to buy more shares at 30p on the basis of a minimum entitelemnt of 1 existing share per 6 you hold at close today. You don't get them for free. They want your money.
Don't be bamboozled by record dates. They go ex-entitlement tomorrow, meaning any shares bought today qualify for the open offer.
Razor, I found your last post rather strange, if speedy decided to sell it was for good reason as the BOD have given "0" reason to invest, they offer a placing at a virtual 25% discount, you should ask why! if everything was rosy in the garden a 10% reduction would have been snapped up but considering JW's bonus from the last cash call they needed to make it attractive. the only thing that will turn this now is a MAJOR contract or BOD buying. I retain my holding in BLIND FAITH but my HEAD says sell. so much promise but also so much cloak and Dagger! AIMHO
Doing placings gets you friends in the City...because they make money out of them......you never know when you might need to call on them again
Tango1,
I don't believe that JW will be here in 12 months' time (whether INFA is still here at that point is a different matter). I just wonder whether he will trouser another cheeky mill in the meantime.
Tango1
I suspect they already have commitments to the shares before the book build even opened.... you don't suggest you will raise an amount without knowing the interest is already there and ready
jfk9,
I would suggest the seeming unavailability of further debt facilities gives a true sense of the value of those assets...Would you lend against defunct shipyards, to a company that is high on words but has yet to deliver anything, except a nice bump to the directors' bank balances? They didn't even know where they were with their own marine licence application. Remember too that Belfast is already hocked.
If there is not an RNS this evening stating a full take up then maybe JW should consider his position and maybe move on so another GO_Getter can finish the Job. If no RNS it will be 100% on the basis of the Bonuses IMHO.
With low interest rates as they are, an apparent strong pipeline of projects and some valuable assets you would think borrowing would have been an option. I wonder if it was investigated.
Speedy why would you sell out now of all times? And at a loss? If you don't have urgent need of your money why sell out at this pivotal and exciting period in the company's development? To me it just makes absolutely no sense whatsoever, but if you're done here then good luck with your future investments
Of course small companies have to do placings because lenders don't want to know but they should be in the 7am batch of RNS's and not pushed out 3 or 4 hours later. I wonder what their motive was? Many holders won't be aware yet and will notice the drop this evening. Bad form imo.
I'm only invested to the tune of £10k, but differently the world would look if the ML had been authorised.
In late August they have the next tranche of the Appledore acquisition to pay for ..these things you have to prepare for, outside of business running costs
" A total of £1.50 million consisting of cash of £1.20 million and Ordinary Shares in the Company equivalent to £300,000 "
Wonder how that book builds going?
to a further £10.5 million placing when we are awarded the phase 2 contact work!!
The sad fact is that we could be building both WDVs ,win an FSS contract, get the go ahead for 15 Hydrogen caverns and a commission to build HMS Prince Philip and we'd still lose out because INFA shareholders have always been treated like mugs and it never changes!
Not at all surprised by todays placing. Purchasing equipment, setting up costs and investment in personnel required to be able to handle fabrication and shipbuilding contracts potentially in the hundreds of millions need upfront expenditure and cash on the balance sheet.
Last accounts showed just shy of £4M which for the likely contracts they are competing for was never going to be enough.
If one or two meaty contracts come to fruition now because of this then this placing will soon be forgotten about. Expecting firm news on the ML decision this month too.
Bought a small amount today at 31.2p
I know what it's like to be 20K and 30K down. If you believe in the company just hold and maybe put it in the bottom drawer. I will be keenly watching however. I presume we are all fundamental investors and not just traders - usually when the price goes down, the traders don't know what to do because they never really had a real reason to invest, whilst the fundamental investors hold strong until the market realises the company's true value.
More good news is on the way, if you don't desperately need to pull your cash out of the market just hold tight.
WimH. Fair enough. However, I'm expecting the government to ensure that INFA becomes a success story that will be used to advertise British ingenuity and efficiency to the world.