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Knowing Placings as I do ( been through 8 in my time and one 15:1 rights issue that screwed me) , I expect the market to take advantage tomorrow. I would like to urge/encourage holders to hang in and hold onto a company that is actually moving on for real
Whatamess- Sorry if I miss judged your comments.
Just hope Dawski dont't want ten days to dump his holding! I doubt it but in uncertain times best to keep in front and finger on the pulse, 7:am is going to be very telling for all involved, I do believe it is a great opportunity (INFA) but I am not a fool and my money is not easily parted.
Tango
I agree and that was in the rns 1 Oct regarding working capital requirements again debt being mentioned.
If the press release is correct then yet again we have huge leaks whereby the city knew in advance and it was leaked to certain investors hence the low sp currently? Very poor
Mr T
I am with Spud regarding riverfort- I would definately have a full placing to pay them off than draw down further to enable them to ruin this stock for an extended period- In as much if riverfort have been used I will be out watching and waiting. hate to do it but they are masters at manipulation (they got the T SHIRT). AIMHO
Mr T, Forward financing is required for initial expences wages etc, you can not just borrow to buy the asset you need to pay the employees and fund the business. I hope that JW shows the respect I have for him in the RNS tomorrow. Whatamess you may be enjoying yourself but in bad taste- Remember Karma!
Spud
Yes you could argue that point but it was always stated this will be a mix of debt and equity, judging by this press release its all equity?
Doubling the share issue in one hit is not something I have much knowledge of that is why I believe JW needs to have some real positive news tomorrow ie contracts in the mix with some numbers to be able to sell this to the market!
Mr T
Absolutely right Kibuc,
However the difference being this is corporate debt and against older assets with a legacy. I can only presume it is a timing issue than anything else.
Mr T
One thing they definitely dont want to do is draw down 2 mill on the Riverfort facility!
This would end up more dilutive than the placing (potentially)
Tango
Yes they did but droderick made the point re loans back in the thread.
What doesn't add up is that they have a loan facility of 2m in place with r/Fort therefore why si we need to raise 6M? And we already paid 500k so why 6m
That figure may be the misleading figure in the press release we may be looking for less?
Mr T
@droderick Isn't that how every mortgage in the history of mortgages ever worked? You secure funding first, then purchase an asset that will serve as collateral. It's not "very hard" to find such lender, in fact offers are being crammed down my throat at every corner.
Tango
I agree, that part may be speculation but I doubt it. It would be nice if it were higher but I guarantee it won't be in fact bookbuilds can sometimes lead to a lower price? Depends on the interest level. That's why JW needs to have some positive news tomorrow both on H &, W and the IM project then he may have a good chance of selling this to the market and stabilise the sp. If really good news then the sp may even go up, but as I say there needs to be good news as well in the morning, if not sp down 10% on open.
Squeaky bum time for all holders but as dawski says hang in there for a few weeks then we could see a good push north in the sp but we will need lots of million pound contracts coming in for H & W
Mr T, You could also pressume that the market knew the loan arrangement was dead hence the sp drop and that was in market time.
A GENEREAL STATEMENT COULD HAVE BEEN GIVEN, TO STIPULATE THE PLACING PRICE IS VERY WRONG.
Tango
You could argue that the market is closed therefore this news is able to be released and as it is in respect of an historic asset in particular to N I then I believe this news is probably correct and true. The news may not contain everything that the company may say tomorrow but in essence the rns in the morning will confirm the press release.
Mr T
You will find it very hard to find a lender who will lend to you when the asset doesn't as yet belong to you.
On what collateral will the lender offer debt? It's common sense really.
Asset debt is provided when one has ownership of an asset. Trade finance is provided against firm contracts. That's the way debt works.
Kibuc
Do you refer to the IM project
Surely we wouldn't be contemplating buying H & W if there was doubt surrounding this, the main thrust of buying this asset are the cost savings for IM so if JW doesn't have the finance sorted after 12 months of negotiations then I would be amazed.
I guess we will know more tomorrow
Mr T
At a consolidated level, everything flows back to the parent company which is the PLC.
I am hoping for JW's sake that this is journalist speculation, because if this has been given to the press before the shareholders I will not be happy in the slightist. Journalists are a devious bunch so I will keep my powder dry till tomorrow......
Failure to find a lender for a £6mil loan secured on physical assets doesn't bode well for getting hundreds of millions secured on future earnings. JW has a lot of explaining to do.
Snowy
Bloody hell indeed I hope JW knows what he's doing, he will need plenty of good news ie large contract to ensure that size of raise can be achieved.
Mr T
MINIMUM of £6M at0.3p share = 2 Billion shares.
1,518 million shares now.....that will be 3.518 Billion shares in issue MINIMUM............bloody hell..................OUCH!
JR- Enough is enough " I don't want to sound negative" you say with the sensarity of a serial killer, Just move on pal, Your words are basically tripe. I in know way feel let down by the current bod (I was not in during the Portland days, I joined when JW did)It seems to me you think the BOD should be sitting behind there laptop giving an explanation to every sp move daily, I think if you spoke to JW he wuld be as bemused at the current SP as anyone else, but things Change!
Droderik - let’s wait to see what the structure is and see what revenues will flow to INFA in this venture. I have often found in these ventures, if successful, the JVs are structured with high leverage and high hurdle rates to prevent income flowing to the topco and the passive listed shareholders. I don’t want to be negative but the way shareholders are treated in this company is nothing short of disgraceful and the fact that insiders get out before the faithful small shareholders is simply not right. These late sells should be investigated ..