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Hi Bubble. I'm with Halifax and received my notification a few days ago. I am taking up the offer.
Fair point storey but I suspect the plan has been in place for a good while and all the necessary legislation will be taken care off .In my view infa have been the custodians of island magee and their reward will be a pay off to finance the ship building plans.Everybody wins .The UK get gas security and infa the shipbuilding engineering etc and Northern Ireland gets jobs apprenticeships as does apple Dore and Scotland yards.I suspect all this was planned before the old board were moved out.I might be way off base here but we will find out going forward one way or another.
Not yet Bubble but my brokers are slow :-)
Hi bubble, yes I received a notification several days ago via x-o (linked to Jarvis investment). They also appeared in my account pretty much day after the placing was announced. So it's all ready to go for me
Anyone had their allocated amount of shares they can take up yet ?
Chitta123 In relation to your 06.40 post The difficulty I have with your view is that if a group of Africans or any foreign nationals were to take a majority stake in the IslandMagee project this is likely to trigger a referral to the Secretary of State. I doubt that the BoD would want to incur further delays unless unavoidable.
Morning Nobby.I totally agree about the ML .The FID is expected in the second half of this year I believe.
Graham Lyon our previous chairman in my view was brought in by the group that intend to take majority control of the gas storage project.West Africa has huge gas resources and it makes sense for this area to supply the UK,s gas .Buhari recently in the UK maybe finalising a plan discussed and blueprinted before the old board were ousted.After Brexit we would need a safe ,secure and plentiful supply of gas which can transition to Hydrogen.
I speculate that Mr lyon oversaw the plan at infa on behalf of the African concern that were putting together a Pan african project to secure gas centric assets with the aim of supplying not only the UK but also Europe.Infa may retain and interest in the gas cavern project but as per the recent presentation the focus for the company is shipbuilding /renewables.Nothing in the presentation highlighted the island magee project and yet we have a top notch employee working on the gas caverns.The Marine licence according to JW in the presentation normally takes 3-6 months and it's my belief that the Marine licence not being granted yet ensures that no other entity could step in and make a bid for infa and disrupting the plan.The gas storage project is of huge importance.It's to the UK energy needs going forward and everything has had to be watertight and kept under the radar.Once the ML is granted it suggests everything is signed up and in place in Africa .The complexity of this project is likely the reason for the delay in my view.Opinion only.
I think the only way the Company can turn a corner in the next 6 months is with the award of the Marine Licence.
I do expect the Board will be advising us of new contract wins over the next few months but these will be < £10 million; still good news but not hugely accretive and they will have to fight hard to win them which translates into lower margins.
As JW reminded us this is a long term investment proposition but just how long that is remains uncertain and I’ve certainly had my faith in the business tested these past few weeks.
I’m not sure if they can deliver or not; that’s AIM!
I honestly am in two minds about whether the Board can deliver the goods or if we are stuck in a rut.
What’s clear is the UK is on the cusp of a significant period of industrial growth and inward investment, some of which we all hope will come our way. It’s been a long wait already and whilst I don’t think we will go bust, we are limping along. We hear that we have a lot of irons in the fire but for me it’s all about the ML being approved and bringing in a swathe of investors from the energy sector.