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It's a risk for sure. The company many of us bought into was very promising then it ran into financial difficulty. I was in at 10p and was well up for a time, then the share price collapsed. I'm still holding and hope that this will be sold on to a company for it's tax loss. So it could still be worth something but I have no idea how much. Would be nice to recoup some of my investment. I'm not really putting anymore in, just hoping for something to happen. Wait and see I guess.
Good Afternoon Been watching it for few months Considering an entry here Any idea who are the major shareholders here?
I was 50% up on IEH when it was 15p a share. Still holding as you never know what will happen. Thankfully I only had 5k invested and I had high hopes for the technology and the company. Makes me sick that long term holders have been pretty much wiped out. I do wonder whether this still has value and I will continue to hold. I added more to bring my average down just incase this does get bought for a tax loss. Who knows. Time will tell. Any news on developments welcome.
Shall we expect RNS/News? When do we get to know if it is of any value
... has loaned London police their hydrogen scooters for trial..... using IEHs fuel cell.
Well put..... yes I've learned my lesson with meditor (they don't deserve a capital letter!) I was lucky to get out with 25% of my investment!
It feels like there's a fair bit of confusion about this company. I've been following the story for a while, so for those who are interested here it is in a nutshell. IEH (Intelligent Energy), a fuel cell company with lots of good IP, got into financial difficulties and managed to find someone to bail them out. That was Meditor (with a few minority partners), the bail out was in the form of a Convertible Loan Note (CLN), no-one else was interested in putting any money in. The terms of the CLN were pretty punitive, and the CLN holders had security over the operating company which owned all the IP (not the listed holding company). IEH continued trading, hoping to start making sales and profits enough to dig themselves out of the financial hole. They couldn't manage it, and finally ran out of cash around end September this year. No-one was willing to put any more money in. So IEH sold the operating company and all the IP to Meditor for �19m; then used the �19m to pay off the CLN (I think this was about 65p in the pound). So Meditor got the operating company and the IP, plus 65% of their CLN investment back, whereas the other minority CLN holders took a hit of c. 35% on their investment. The company said in an RNS in black and white that there was no value left in IEH shares. With no operating company, IEH no longer has a business; and having paid off the CLN it has virtually no assets. They have made clear their intention to delist and wind down, they have said that the remaining assets will just about cover that and there won't be anything left for shareholders. They have now changed their name, I expect this is probably because Meditor now own the operating company that still trades under the name "Intelligent Energy" and they don't want any confusion. What's now listed is just a shell, it no longer has any link to Intelligent Energy. All of the above can be verified by reading the RNSs issued under ticker IEH. It's a bit convoluted, but it's all there. As to why they've set up a new website, well I haven't bothered looking at the website but I wouldn't be surprised if it was a listing requirement these days for a company listed on LSE to have a website; even if it's in the process of delisting and winding up. I imagine delisting can take some time. In any event, I personally would not touch this company with a bargepole; I will run a mile if any company I'm invested in starts dealing with Meditor; and I have put the names of the IEH directors on a personal list of directors to avoid like the plague. Anyone investing in "LB-Shell" in my view would be better off sticking their money on Red 12 and taking a spin of the roulette wheel... GLA Otherwys
I have got them before consolidation ,1k now worth 80 pounds something like this ..
should you missed MYN .....
I made an inquiry ,and this was what I was told ,,,,....
of CLNs paid. And cleared to zero. I've no idea but looking at the last results is it feasible that this could be a cash shell? It would give long shareholders a chance to get some money back ?
Looks to me like the �19.5million paid for the buisness covered the debt CLN. That would of left cash to wind down the business. Its that cash that is left or the actual value of this as a shell listed on the main market that could transpire.
From IEH there was no money left for shareholders ,this new name has huge debts, and the intention is on delisting , I don't know how come they still listed....
I have no idea on this at all. So have this on the watchlist in case it take off.
Myn. Just bought take a look
I don't think it is misled. However it could be that someone is interested in using this as a listed entity. In that case watch this space however I'm holding back until the next RNS? And it is a case of ???????
Is it possible they will use as a cash shell? If it is main market listed it could have value with tax losses for someone?
Any chance of a public explanation as I am very confused. I'm in for a few quid. My thoughts are this new company has �20,000,000 from the sale with 200 million shares so best case is 10p per share, but obviously there will be debtors and dilapidations to pay when winding up. I am wondering if the sale included selling off the debts too?
NO....................IS A GONER ,i9 just don't know why they still trading ..
New website. A chance for some shareholders to get thier monies back? A cash shell? No idea and Not invested buy why new website?
WTF is going on? IEH website still in full swing. LBP openly traded. But investors left with nothing.
Go to private message I just sent you .,.This should NOT be trading ,,,,,
IEH..is already sold ...but lbp ....is the new company i believe
Go to the message I'm sending you a message ...