London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
That is the element most required urgently required now . The Islandmagee part of that should be satisfied when the Marine Licence is granted and the H&W element may well be satisfied even sooner. In both cases JW has assured us that those negotiations are at "an advanced stage". The EU money will go a long way to help with the next tranche of the H&W payment due on 31 October or,more likely, that will be deferred to the "backstop date" of 31 December upon a failure to complete due diligence by the earlier date.
I was disappointed with the affect of the Riverfort finance on the sp which would have soared without that complication, but I am now more confident than I have ever been of the ultimate success of the Islandmagee project.
6million loan . Time you seen the bank for a bale out.
Thomas Cook comes to mind.
Thank you for your wisdom Nazareme. Bigger issue is that a loan at a sensible interest will require cash equity injected. The only lenders giving 100% loans take high arrangement fees, high interest and a big back end kicker. Ultimately this means large dilution for the existing shareholders. It won’t be easy but I am sure the Trade Unions, BDO and the Northern Ireland Government have done their due diligence on the finances to ensure INFA are good for the £6m.
You and Nazarene may think this is funny but for workers at H&W the delivery of finance by INFA is key for their families and mortgages.
WILL be watching very close i will add for a trade on any weakness if we get it and keep my other half long . i think she we drift in to the 40.s again but soon loads of news and up
The shares have been secured at 0.38, Surely it is in riverforts interest to raise the sp to get maximum returns, Riverfort are renound for their tactics and may pump it up to sell then short it down to convert. Significant news will change this and the £1.6m from the EU may go straight to pay initial loan off- only max 2 months until FID is expected so maybe just maybe JW has taken a risk to secure H&W but feels the deal is almost done that could unlock £15mil and cover the loan. I am Guessing but I am 100% confident JW/Arun knew what they were doing and the risks/Rewards attached. AIMHO
I can truly say that JW and AR know fully well what they are doing ---Arun has pulled off a masterstroke deal ..finance is complicated as to be expected and JW has admirably dealt with fronting the PR this week .Not without it's problems but IMHO the Government would not allow this deal to progress without assessing that Isle Magee is feasible ..and that's the issue !! Looking good and sound for the long term here !
Riverfort are renowned for not taking risks, by the time we get the RNS for the conversion it's very likely imo they have already forward sold those shares into the large volume rise this past week to secure a return on investment. They can forward sell, then convert. Therefore their next conversion will likely happen after the next high volume day upon some incoming good news.
JW is the second largest shareholder and the speed of this deal called for the bridging loan, upon completion there are loans & grants available to help out and H&W will be kept as a separate entity, as per the RNS.