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althej, so far the OO has not been defined and regarding voting it will depend on your brokers policy. not much use but the best answer I can give.
Hi fellow investors.
Please excuse my ignorance, but some advice would be appreciated please re the Rights Issue. I hold Infa shares in my ISA and SIPP through Tilney.
So, some questions are:
How do I get to vote - do I need to instruct Tilney?
What is the basis of the Rights Issue i.e. 1 for 1 held, 1 for 5 etc?
Will Tilney need to apply on my behalf?
Thanks and good luck to all.
Also the finalised GSA was due in the last 2 weeks, I dont want the detail as obviously sensitive information but confirmation the deal is done.
I think before the vote we need cards on the table regarding debt equity for IM, Clarity is required, now 12 months on and status exactly the same. One resolution is to be able to raise equity if required in 1st half 2020, we are supposed to be getting the £15m back at project stage- as I have previusly stated I will back the resolutions but require clarity on current ellements of the IM project.
dawski37 - I totally support your posting & totally support the Board.Onwards & upwards.
........... may we bring hope ." Actually Mrs T used the word "despair" but that is no matter as we have to balance up the pro's and cons of the imminent vote and try and assess where we have come ...and where we are going.We have certainly come a very long way since the Boardroom "coup" of 2017 and now the pace hastens !
On the negative side the SP has of course had a torrid time in 2019 falling, becoming diluted and now only just a little above the minima .That would not normally go down well at any A.G.M.
Even the announcements of a placement at 1.2p. the news of the status and indentity of our new potential Offtake Partner ,Vitol, news about the opportunity at Barrow and finally the bombshell of H&W ,none of these did much to raise the SP. The latter was of course dampened by realisation of the costs and consequences.None of us could have imagined back in January 2019 that we would be where we now are and perhaps none would have expected so little of the jigsaw pieces for IM yet to be in place .No funds from Mr J etc etc.
Yes, there is a lot of negativity and all so painful at that including may I say for JW and his shareholding.
NOW ..on the positive side as I have said here before, H&W is a gem of a deal. JW and his team know a bit about shipbuilding as well as Gas Storage markets.To have pulled off the purchase from under the noses of other significant bidders ( and be assured that there were probably some "big players " sniffing around),to have kept it under wraps so as not to affect the market, then to pull of an amazing Book Build last week ..well,words are not enough.
As long as there are no gremlins likely with IM this year and then no cash call if we do become involved with Barrow and others then you just have to support the BOD's vision for Infa over the next 18 months and Vote x4 in favour ..and also support the imminent Shareholder Rights issue at .030p.Surely a no brainer especially after I urged such at 1.2p in the summer and ruined my headgear.
Today we have a mid cap of approx £5m..JW's vision is for a mid cap of £50m in 18 months or sooner.Some will say that he has "shafted" us all the way down this year by doing things on his own bat and without full or indeed any reference but sometimes there just ain't time to involve shareholder meetings and votes etc. "One has to get on with it."
Please re-read Dodders last post on 17th November.I for one do second the last para.Should be a lively meeting !! I support JW and team 110% .There is still an element of Doubt today but much more Hope !!
More publicity for H & W, with a mention on the Jeremy Vine show, which is being broadcast live from Belfast. INFA was not named-checked as the saviour, however.
With the amount of noise generated since INFA stepped in, I am starting to believe that there must be a plan for the shipyard, otherwise there is going to be a massive amount of egg on faces (and not just JW's!).
I do wonder, however, how many genuine investors in INFA would have willingly sunk cash into H & W independently, should such an opportunity have presented itself...
Last months article but key mentions for H&W:
https://www.independent.co.uk/news/business/news/bab****-royal-navy-shipbuilding-contract-frigate-uk-jobs-latest-a9102326.html
Belfast’s historic Harland and Wolff shipyard expected to be among the beneficiaries of programme to build Type 31 frigates.
Engineering giant Bab**** has been named the preferred bidder for the £1.3bn contract to build a new fleet of royal navy frigates, in a move that could secure 2,500 jobs and the future of Belfast’s historic Harland and Wolff shipyard.
A consortium led by Bab**** and including the Harland and Wolff shipyard, famed for building the Titanic, is expected to be formally awarded the contract later this financial year. Harland and Wolff supporters said the contract would sustain five to six years of work at Belfast shipyard through steel fabrication work alone.
The five ships will be assembled at Bab****’s Rosyth Dockyard in Fife and will involve supply chains throughout the UK.
Among the thousands of jobs expected to be supported by the programme are 150 positions for new technical apprenticeships. The firm said work on the fleet will begin immediately once the formal contract is awarded, with detailed design work first and manufacture starting in 2021.
I believe it's no coincidence that JW mentions in the OCT 1st RNS , " The InfraStrata Board plans to significantly increase the size of the workforce by several hundred over the next five years as it progresses the development of its infrastructure projects."
AND
"The highly skilled workforce presents the Company with an opportunity to create secondary revenue streams through the provision of services to the energy, maritime and defence sectors should such opportunities arise in future."
droderick ney Arden- I will vote for all resolutions but have some concerns that if not satisfied in the next 11 days may be decisive.
The circular is now on the Infa website. There are 4 resolutions that need voting on. Having read through the notice in detail, it looks very good and the rationale still holds strong. I am a shareholder and continue to be a big supporter of the company and the management team. There will be an open offer for shareholders like all of us which is excellent news. Buying in at these levels is highly attractive. More importantly, it is a highly democratic way of raising monies and this placing, which is significant at so many levels, and does not disenfranchise existing shareholders. Regardless of the final quantum that will come out of the open offer, I appreciate the thought process of the management team.
The marine licence is in play and due process is being followed. JW has been true to his word and has met that submission milestone on 31 October as confirmed by DAERA. The news of the type 31 frigate contract is another positive piece that is coming together. All in all, this company has the makings of a very successful business in the months to come.
The next two weeks are crucial and I would expect fellow shareholders to be fully supportive of the vision, strategy and, most importantly, the management team that are putting this business back in shape. If JW reads these posts - well done and keep pushing on!
LOL
Maybe Nazereme will approve.
No Problem, for info- H&W cost infa £5.25m and is going to save £40M on fabrication for IM project and H&W can also build the FSRU so on initial reading may seem odd but looking a bit deeper makes sound economics ense.
Sorry no offence intended, I have been invested in the past and hope it all comes good for all involved, it just seemed a bit strange on first reading Goodluck.
Regarding titanium balls, I would say you would have pooh for brains not to invest but each to their own opinion..
Keep watching then, but spurting out unresearched comments is not very respectfull and sure the PI's on here do not troll your boards..
I would do if I was considering investing but don't have titanium balls.
Wouldn't have thought Branson and Musk could build a rocket between them, but they do employ an awful lot of experienced professionals that do.
JW was apart of one of the biggest ship builders, Do some research, it comes in handy for real investors.
Do I understand this ? Shipbuilding/ what does infa know about that, be selling iced creme teas next.
It is going to be interesting next week after the Babbers news naming H&W as part of the consortium, also Interesting to know that ONLY H&W has approval/Ability in the UK to recycle the largest tankers of which their are many end of life.
Harland and Wolff brings together all the projects INFA are working towards and soon will have multiple income streams to invest even more into NI and The PI's, Everyone is going to win including the current whingers!
Some people can not see past their own front door!
JR I disagree i'd say you are the "right type of opposition". In that your main point is you don't want salt water going into the sea.
Where i grew up there were several huge gas storage tanks that towered over the houses, this was the norm in towns and cities throughout the country ... yet in 2019 your chums are whining about underground storage away from residential housing!
The NIMBY seems to have evolved into a species of just wanting to stop any form of infrastructure, as they're either on a nice public sector pension or claiming social security money so they've too much time on their hands.
Be nice to build a couple of FSRU's....
I think everyone would be very supportive if INFA turned into a ship building company now. The other projects it was previously involved with and are currently trying within oil exploration, fracking and gas storage seem to gather the wrong type of opposition and image. Shipbuilding could be the way forward for this company and keep everyone happy.