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A lot of 25k buys
Well, I've bought this morning at a bargain price compared to the recent high just a few days ago. Very happy to hold
now and wait for the anticipated near term news flow.
Disappointing news on the face of it today, but they're using the money to add value and potentially improve our equity retention so not so bad.
Probably every placing in past 18months has occurred in same way. MAR allows for market soundings from small group of investors (I think depends on your broker rather than how significant your existing holding). Anyway few people find out and price drops according. All legal,bit annoying for those left out in the cold. I like that they've started exactly what money is for. And shows creative thinking on part of BOD to keep to their timeline despite additional due diligence. Re 'insider trading' they announced all the positives re offtake and equity negotiations and number of parties involved. Price reacted. Nothing concluded or guaranteed as the last RNS says. Not set in stone. For me,this placing at 1.2p puts a new floor under the sp. Onwards and upwards. Roll on equity /offtake news.
Because too expensive this far ahead, and too much value-setting news still to come . But would dip a small toe in a bit below price now.
mcadder, same old, same old! warrant holders told in advance then sell @2p, then get offered shares @1.20 in the placing! corrupt m8.
Ah, the annual new years placing once again. Gotta love on continuity here. Old Bod, interim Bod and new Bod, always the same. It's like a family tradition passed down through the generations. Hey ho, if it's a requirement to get to us to the next phase, crack on.
We already knew they were going to need the £270,00 (now £400k) by the 15th April for the completion of the land purchases, but was hoping the PEF may have been done and dusted by then.
Anyone up for a consolidation? Say, 10:1 or 100:1 maybe. Get us out of pennies and make us more attractive to fund managers and the like. Just sayin..
Anyhoo, it's done now . The fact that the likes of BMD gets in on it once again leaves a bad taste but nothing will be done about it. They never do. Is he sh@gging someone at the RNS offices? ;)
Two steps forward....
Si
think they had a deal agreed and the new offer came in better
only my thoughts no idea if it is the case
As an investor with limited experience but a long term holder in INFA the only slightly dissapointing thing here is that this what if scenario wasn’t considered by JH and team when being so bullish about a deal by end of the year ...that any potential equity funder may require a significant period of due dilligence or that they may be someone late to the party. That being said I don’t see this as a setback just part of the process and expect the remaining milestones to be hit
Hi All - I am not surprised at todays RNS but for those who believe in the project the current SP is as 'cheap as chips'.There is no such thing as a 'free lunch' on AIM & we are now seeing the realities of what is now required for this project the next few months are critical for all of us. Looks like the good ship INFA has now taken on coal & can now speed on again.GLA.
Yes very annoying, not the placing but the fact that insiders knew beforehand. Should be investigated by the toothless FCA, but it won't be.
A good price and small dilution, and it has been spelt out what the funds will be used for, to enhance the value of the project. Six weeks to news on equity front, but these things take time and the right deal needs to be struck as this will be for the life of the project.
Mr T
Well well well so BMD was right this time about another placing! The fact it is happening and the reasons for it I can accept but what takes the piss is people knowing about it before it's been released into the public domain and then being brazen as to tweet about it and write on the bb's beforehand. We all know the FCA should look into it but in reality nothing comes of it - disappointed is an understatement plus now we know we are weeks away from an equity deal
It's not the placing that's annoyed everyone - it's the fact it was done days after all the warrants - why not before ? And also the insider trading. The placing itself isn't actually that bad, no warrsnts, mentioned what the money is for and the update along with it is actually pretty good
Bmd Right again
I kind of suspected this coming, as per my last post. But I noticed that snippet as well Spud. Looks to me that all finance was in place, before latest offer, which has delayed decision. This placing is just a stop gap IMA. GLA
Not for working capital but to enhance value to infa in the long term imo. 3 weeks ago I would have been over the moon with a 1.2p fundraise. Marathon not a sprint A small snippet from RNS "As part of the Company's equity negotiations with all potential parties, recovering costs invested to date is one key commercial element of the deal and these additional costs will be included within that calculation."
Disappointed slightly but in the grand scheme I’m still happy.
Early entry is always key on stocks
have to be investigated, but will it be ?.
Furthermore, this extract from the latest audited accounts:
The Group's cash and cash equivalents at 31 July 2018 were £1,790,979 (2017 - £1,548,169) including approximately £916,294 (€1,042,743) as the balance of the €1.6 million received in advance from the EU.
Since 31 July 2018, the following warrants have been exercised:
· On 24 August 2018, 10,416,666 warrants at 0.48p;
· On 29 August 2018, 5,833,333 warrants at 0.6p;
· On 29 August 2018, 4,166,666 warrants at 0.48p;
· On 4 September 2018, 4,166,666 warrants at 0.48p;
· On 29 November 2018, 18,617,666 warrants at 0.6p;
· On 6 December 2018, 333,333 warrants at 0.6p;
· On 11 December 2018, 1,049,000 warrants at 0.6p.
· On 14 December 2018 1,356,162 warrants at 0.48p
· On 17 December 2018 4,693,466 warrants at 0.6p
· On 2 January 2019 1,768,838 warrants at 0.48p
· On 3 January 2019 6,139,867 warrants at 0.6p
· On 3 January 2019 4,508,427 warrants at 0.48p
· On 4 January 2019 5,000,000 warrants at 0.6p
In total 68,050,090 warrants have been exercised, bringing the total consideration received for warrants exercised to £376,640.45.
So to summarise, cash deposits have been added to through warrant conversions which has brought in £376K. To conclude therefore I cannot see any need for a placing at the current time.
Mr T
Mr T
Mcadder,
Yes I know, then again everyone is right some of the time!!
I would be very surprised if there was a placing at this stage of proceedings, the cash has been coming in following exercising of warrants, therefore in my mind no need to fund raise now. Why would they need to? Also the current negotiations regarding project funding will be at an advanced stage so I wouldn't have thought working capital funding would at the moment be a priority! as long as they have sufficient for day to day costs then that will suffice.
In any case a small fund raise would not be too detrimental, it could be at today's sp , could be lower, could be higher, who knows, that's the beauty of aim!! 100 mill at say 1.25p! the company is not going to go cap in hand for cash at this stage of proceedings is it! far too advanced in the project. Some get too hung up surrounding funding, yes if the company is looking for cash because they are potless, still looking for that oil/gold/tin or whatever, desperate stuff and all that, placements are a real ball ache, or can be, but in this case I wouldn't be at all concerned.
This has been flagged up on this board recently, and now we have it again, it's scaremongering, or someone is posting stuff that they shouldn't be, and it is illegal!!! You see all of the time on all aim boards day in day out. These posts should immediately be removed by admin because no one should know anything about such things and therefore they should not post such nonsense.
Mr T
Wasn't it stated in an RNS in 2018........'There will be no further dilution for shareholders'
Hmm quite a colourful past .. agree spud how does one hear about a placing if not inside .. perhaps just wanting to buy a few shares at a cheaper price
Welcome to the board Decisions, don't panic and sell your shares. Oh hold on though .........LMAO !
If you are 101% sure then you must be inside and have therefore just spread inside info over a public bb!!
I would be very surprised if a placing was done for short term working capital, due to the fact the auditor signed off the accounts and we have had circa £230k of warrant money this month.
We will see
Everybody has an agenda. Untill official RNS from the company don't believe anything.