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Indeed, every silver lining has a cloud...
Well read Tango, being allergic to equity dilution I had also made that assumption, now remedied.
Tango1
thanks ...I read that..but have to admit..was confused by the later comment " by diluting its shareholders"... so I was keen to hear further comment for clarity...
so, that " diluting its shareholders" is referring to the " identified pool of investors " and equity terms within that pool, tied within the project ?
Pokerchips- Looks like you suffer from creative reading! the actual statement does not state they will seek new investment it states:-
"Subject to the outcome of the determination of the marine licence by Minister Poots, we will seek to engage more actively with our identified pool of investors with a view to agreeing project level investment and equity terms with them and proceeding to Final Investment Decision ("FID") in the next few months. Further announcements will be made to the market on the marine licence and next steps thereafter in due course."
The investors are for the project not the company "at project level" should have given it away.
Solid foundation to build from ..
Cash at Bank - £3,990,788
Harland and Wolff (Appledore) acquisition - £1.5 million is payable on 31 August 2021
Islandmagee gas storage project - awaiting the project's final marine licence.
" Should the marine licence be formally granted, the Company will seek to attract new investors at the project level by diluting its shareholders and proceed to Final Investment Decision. ...the project continues to be economically robust "
Any new investment will be for good reasons should they get the necessary licence requested....
What is the suggested next fund raise amount looking like..given the next stages of growth... ?
When is the licence decision expected ?
The acquisitions in a normal fully open market would have cost a lot more, we Had to man these places so was going to cost, but it has been kept to the minimum, and most of us on here has seen little in the yards for a couple of months so could not expect anything more in the results. Now the country is virtually fully open it is going to be totally different and contracts coming in on a weekly basis, along with JW committing to quarterly updates, he is obviously rightly confident. AIMHO
I am a recent investor in Infa buying in at roughly the price of the recent share issue, namely just over 45p. I see the latest figures very positively as I am always very interested in turnover as a means of judging progress. How many companies have recently grown revenues x10 ? It's an amazing achievement in difficult times.
My other concern when investing is Marketcap, and again Infa with a marketcap of under £40 million is remarkable. There are plenty of quoted companies with hardly any revenues with marketcaps of much more (dare I mention SYME?).
I also feel that the recent acquisitions have been achieved at very reasonable and realistic prices. This is a very exciting long term investment IMHO
Morning All,
Overall...
Margins- good
Revenue- sluggish
Loss- expected
Credit raise- not mentioned here but we may be close to needing an injection of funds to maintain a healthy balance sheet.
Going forwards- hopefully we'll see an uptick in numbers, and broader range, of ships in Dock over the coming months with an increase in contract value. More wind contracts, possible news on the Triumph ships over the summer, real tenders for new UK domestic vessels at Appledore, and always lurking in the background is a real possibility of MOD work.
ML- still waiting game. Trying not to think too much about it but overall balance still thinking it should fall positively.
Overall- still extremely positive albeit still risky, but very much looking forward to seeing how the next 6 months develop.
Cheers
TheEast