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As a result I’m 16k worse off than I was at the end of last week
@razorshultz on the contrary, whilst my name is not real (as per most other people here) I have been a genuine holder, but have just sold off all my holdings, in 6 tranches as HL wouldnt accept large transactions -I neither know why nor do I care that it costs more or why. The important thing is that I invested in a company for one reason and whilst it would have gone to the wall if that had been the only plan, I have no interest in holding shares in a company in shipbuilding (in the UK) which is at best a fragile industry at worst entirely propped up by the government should they wish, given that UK yards are probably some of the most expensive, inefficient, lacking in skills and investment worldwide. It just doesn't seem like a good prospect from my perspective. But when we have 3 or 4 cash calls in a year or so and the Directors take £2m in bonuses I'm afraid my intuition for what its worth leads me to believe that they either are charalatans, or are very bad at communicating their belief in the company.
The bottom line is they do not have one shipping build contract and they don't have the experience or know how to get one. In my opinion. I also think that companies may be shy to use them because they are constantly running out of money (thats not my opinion thats fact).
But I wish you all the luck, there are some genuine investors here (myself included) who deserve some answers but more importantly some returns.
Given that I am out I will cease any further comments.
he's not a good guesser and probably didn't know anything. The trolls who go so far as to say "this company will be bust within months" are always proven laughably wrong, both here and on every other share I've invested in - so they stick with making predictions that seem plausible, such as "ooo there's a placing coming!". Which is why they arranged for a fresh account with only 8 posts to make such a prediction - they don't want to risk losing credibility on the accounts they've been posting on for long periods of time.
Which to be honest isn't hard to do when you have a company that you know has only just started generating revenue
I'm invested here for two reasons. Firstly, to be part of the post-Brexit success story of our island nation. Secondly, to make some money. I see INFA as a slow burner as the task in hand is complex, but I expect the company to burn brightly in a few years from now.
GLA
I guess participating in the 1 for 6 is a way of averaging down. In the absence of the ML this is becoming a highly risky investment. I guess I am prepared to continue to support, but losing confidence in JW. If the enterprise ultimately fails would we get anything back from sale of the assets? I recall someone saying the Appledore could be sold for housing development!
My other big holding is a SA company where the workers have gone on non-union approved strikes twice in 2 years, where the officials are corrupt and there has been a massive institutional seller offloading shares suppressing the price for over 2 years. So yes, avyererdowt, INFA is like a walk in the park compared to that. UK company with good management, smart acquisitions, a large pipeline of tendering, some of which we will win, maiden revenues made and cash break-even on the way, ML on the way, what's not to like? Do you really think that's existence on a "Knife edge"? A company which is expecting to break even this year?
I took part in the last placing, and I suspect I might take up a small amount once again. JW has pulled a rabbit out of the hat more than once with his highly successful moves in competitive bids for these assets. We took over H&W, the engineering firm that built the titanic, in the face of significant global competition from other bidders, which has diversified us from just a salt cavern that has yet to be built, into a big player in the UK shipbuilding industry which we expect to be bolstered due to brexit.
How anyone can be more upset than pleased, I don't know. Yes it's true that nobody likes placings, but we are not a mining exploration company which does a placing every year, they will end at a point.
try not to panic, you sound like a weak holder Avyererdowt, as you keep bringing up fools that I've filtered in the past so as to not have to bother seeing their stupid posts - blairpeach and whatamess specifically. It's also wrong to say their critics have been quiet - I and the other LTHs here aren't quiet, we just don't feel the need to screech about the RNS. We're comfortable in our investments and given that the company has a multi billion quid pipeline of work on the way, the ML is due, and they expect to be cash break-even by the end of this year, I don't see what the concern is.
The fundamentals have not changed here, and the fact they brought in another freshly created fake account to post rubbish about the company this morning, suggests they're getting desperate.
One for the forgotten drawer.
NigelHaemoglobin,
All shareholders are deemed to be sufficiently "experienced"
if not .. we all buy at your own risk....and the learning curve can be expensive
Stokey at the moment considering voting no for resolution 3. The company needs investors who can afford open offers, rights issues etc, if the shareholder base now consists of more experienced investors (namely successful ones) then we should be the first point of recourse regarding fund raising.
Less miserly than the last open offer though!
Chrisatrdg
Not being underwritten makes it cheaper - and suggests that they have already gone round the City and sounded out investors and have a pretty good idea that the 30p placing will be bought up...
You don't do an accelerated book-build with out sounding out the City beforehand
How would they know the price ..if they hadn't already sounded them out ?
The City tells you the price ...it isn't the other way round....
Hi All - Not to support the company now would be insane & all our monies would go down the pan !!!!!!
Can I ask in relation to the shareholders meeting how many people are planning to advise their broker to vote against or abstain on the resolutions.
Well I am not surprised at todays RNS except it would have been more honest to have combined the fund raise with the recent contract announcement as they clearly go together.I am not sure what the lawyers would think.
Well you can gamble & buy in at these 'low prices' or wait for the SP to recover & Sell.I will be Holding as I need to break even the proceeds going into an extension next year.
My only concern, as I read it, is that this share offer has not been under written which is a first I believe.
In conclusion this is INFA's last chance of them making the company a 'Going Concern' as I am sure the business model cannot sustain any further fund raises as investors will just not believe them.Lets hope that investors will want to Buy in this time otherwise it is 'Good Night Vienna'.
Regards to all.
Narada
Record Date for the Open Offer - 6.00p.m. on 30 April 2021
you wont be getting anything for "free"
Yes, you need to study this issue carefully.
The Group is currently in ongoing discussions with prime defence contractors regarding subcontract fabrication opportunities for a series of defence contracts, and has received several approaches from cruise operators for technical dry dockings before cruise vessels are brought back into operation.
I'm not an experienced investor but thinking about buying in here. Can anyone clarify me this 1 for 6 offer. I'm reading it as, if I buy in by close of business today at current share price (say 31p) then I will be eligible for 1 extra share for every 6 I hold by the end of the month so 16% increase on my holding for free if the share price continues to stay at the same price going forward . If it falls by 16% I get into loss territory and if it rises then skies the limit.
From what I'm reading it seems to be a boom or bust company. Last accounts for July 2020 to me read as 45 million pounds of assets and 20 million liabilities. Some are saying this company is going bust and others are saying it's the start of a profit making organization. What to do :)
Any thoughts guys?
BlairPeach,
I am not the one who has previously bought and held on. and ben severely diluted
...you appear to be very critical of Directors etc and yet you dont appear to have done anything about it....believing somehow that as a "shareholder" you somehow have some place higher up the hierarchy than other stakeholders or indeed the lenders/City who decide to fund the business ..
When you acquire assets "cheap" it is inevitable that you will need to invest in them...
The placing today and the investment going into the Saipem contract "suggests" to me that there will be more contracts coming from them as a result of the investment.....the contract needs working capital....these kinds of contracts always do...
SAGA had its 2 cruise ships built at the Meyer Werft shipyard in Papenburg, Germany....the idea that ships have to be built in Vietnam to be profitable is mis-placed
Cashflow positive within line of sight, this year in fact. If the ML is delivered concurrent to major contract awards sub £1 could be history. My hope is that the new HnW apprentices of 2021 will develop into the supervisors and managers of the future.
Taking up full entitlement here.
You have 8 posts WimH so no one believes you're a genuine investor, just another fake account (using a celebrity name no less - Wim Hoff is it?) filtered, into the green trash can you go, please no one else reply to this moron. The long term holders here are unconcerned by this. Those of you who have a brain cell and the ability to do basic reading will have realised the latest RNS suggests the company will be CASH BREAK-EVEN THIS YEAR. Don't feed trolls just filter them.
Pokerchips,
How delightfully naive!
Sorry not Loud enough...
SOLD THE REST OF MY SHARES AND GONE. DO NOT TRUST THIS BOARD.
This company will be bust within 6 months, IMHO. Do your own research, but taking huge bonuses from a company still reliant on share placings for cash flow, suggests to me that the board have no belief in their strategy.
Sold the rest of my shares and gone. Do not trust this board
"Do not trust this board"
You cannot fully trust any board that is dependent on financing....they become mere servants of the City, who decide their destiny...and at what price ...
They do their best to push the expectation of revenues in the hope of keeping the share price higher, but know the inevitable need for funding puts the price firmly in the hands of the City to decide .... and without placing and funding..there is no future and shareholders are doomed anyway...
it is the same anywhere unfortunately