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ADT,Oh yes at least £10
Nobby.Nobby . agree that the gas cavern project will be how infa fund the larger contracts.Government will have two objectives in my view 1-to build back the UK shipbuilding industry /capability.
2.ensure energy security for the UK.
The plan has been in play since the calling of the EGM to oust the previous board.It always struck me as very risky to grant infa the takeover of the H and W yard when there will have been bigger players in the running.A tiny infrastrata with no money and very little else to offer..It's also always been my opinion that the ML was always going to be granted but could be used as a stalling mechanism if needed.As frustrating as this sp and company is at present I believe we are now at a turning point with a contract from a huge company in Saipem in the bag and a foot in the door of the wind farm future plans for the UK..
At present I’d take 60p and accept a small loss. Unless we see a favourable decision on the ML very shortly don’t see myself taking up the offer.
Bae,can offer £5 if they want
NigelHaemoglobin In relation to your 15.23 post I noted that discrepancy as well. As far as I can tell the discrepancy is caused by Cenkos basing its calculations on the basis of confirmed contracts together with an estimation of ship repair work based on the level work obtained last year. I think that JW has his forecast based on projected work so if the work does not come in as expected then the breakeven point would not be reached. The other concern which feeds into this is that there is a difference in the gross margin rate Cenkos is using a gross margin rate of 18% INFA are using a higher rate. In the half year report the gross profit margin was 22% so the rate used by INFA is not unreasonable. I am not sure where or how the 18% is coming from. We will have to wait for the December Trading Update to get an indication of whether Cenkos or INFA are correct on the breakeven point.
Another of my concerns about "this lot" is that due to the fall out with Gresham House and their sale of their circa 5% shareholding, there seems to have been a persistent seller (or possibly shorter) of the shares. I think there may have been some bad blood as a result of this. It doesn't take much to keep a lid on the SP with all the other day traders in play.
Whilst we stumble to get some sort of escape velocity from continual placings and dilution and a lack of tangible new business, it's possible we could become a target as I mentioned earlier in the week.
What's to stop BAe who are short of yard capacity making a bid, or a foreign shipbuilder such as Navantia acquiring the business or even a couple of the wind farm developers like EdF or Smulders, who will be committing billions over the next 10 or so years from protecting their supply chain by taking control of the yards that INFA has acquired? This could be achieved for a relatively small outlay. The longer the malaise the more likely this becomes imo.
I am in no doubt the ML award would be transformational for INFA and shareholders but I can see this being sold off to focus on the shipyards albeit at a very significant sum. For me this is the most precious opportunity for Q2 and Q3.
Chiefly that there is a discrepancy between Cenkos and the company with regard to positive cashflow expectations. Certainly a lot of complexity exists. It is also highly concerning that the sp has converged with the open offer price.
The reality is that most of us arrived at the party too early! To be honest going to think carefully over the weekend before committing to the open offer.