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On me Twitter obvs, not on here ;)
Cheers mate, appreciated, just missed that's all ffs :) Lovely Descending Wedge play from 2s, would have been a cracking buy imo, easy to say after the fact but that's how I get the mid 5s/9s target ranges as it looks like others have alluded to already :) Got another one like this I expect to be "unveiling" soon as it happens - keep em peeled ...
It's all good. Just thought you might like a gander.
Sorry mate - I only just noticed I'd missed your tweet :/ https://twitter.com/bonker99/status/819170666607951872
Below 5.50p is very safe imv and it feels like we will be getting the HoT rns very soon, so that should push up the SP up quite a bit! I would not be one to dispute what Smudge sees in his crystal ball, he does get it right 80% of the time I would say and he's on a roll atm!
£3mill ish, once EBIOSS deal gets approved at EGM will be £6m ish
Thanks for the details Trout, are you on Twitter by any chance? Will add you tomorrow then Metal.
There are currently 75m in issue and another 78m will be issued to Ebioss when the deal is done. As for News to come, the Newry site needs to be commissioned by end of March 2018 to get the ROC 1.9 subsidies that have been held over on the project. Miss them and it becomes less attractive all round. They have previously stated in the Heads of Agreement RNS it could take 15 months to get the plant up and running. Therefore every week that goes by makes it harder to hit that March 2018 deadline, this won't be lost on the investors signed up to the HoA. The Ebioss deal does not really affect the financing of Newry as the SPV between REAC and FBD have already signed agreements with EQtec to deliver the plant and get it running. If anything it makes the whole thing stronger if REAC is backed up by Ebioss, but it shouldn't have any effect on the HoA being agreed, they are dragging their heels though....
Are you on Twitter Metal? Can add you to the group if you are. Also, I think news will be flowing at a fast rate now that Ebioss has secured their position and cash is coming in! A little surprised this is not over 5p already, but it's not always an exact science (hence the opportunities), just got to be patient. Plenty of support in the 3.80/3.99 range, once this new seller is out, it will move on to 5.00 with or without RNS, add another positive RNS in the mix and...
There is currently 75m shares in issue without the ibioss shares! Maybe check reacts website. But failing that u don't need to even do that as u could work it out on the IBIOSS deal yesterday, as they stated they are taking 51% for 78mill new shares, so u basically times 78m By 2! LSE is wrong
5 times the amount? Don't know where your getting that from but it will be 2 times the amount! Market cap £6m once completed! Company. Hanging news yesterday, surprised it isn't 5p plus already
£6m I believe. Eur.5m in cash incoming, Newry opening and sum of all parts should be worth around £20m + Lots of projects to look forward to still, 3.4 bagger potential with current assets, lots of newsflow to come still, Ebioss loans wiped out at 5.53 and inti seller out. This has the making of a very easy and safer bagger in a short space of time imv - will hold a large portion for the long term though.
That was taken from RNS 11th Oct and even though we don't know when DD started now the reverse take over is agreed there is no reason it can't be all systems go as Ebioss introduced the funding. The t/o is to be completed by 06/02 so not hanging around and not long to go plus Ebioss have 330m of projects approved in the UK which will imo be channelled through the new company. Add into that Newry Claycross and Enfield and the sp will rerate at some point. Time to take your positions if you want to be in. GL.
> subject to the completion of, inter alia, legal, financial and technical due diligence, which is yet to commence Could well be right, however that statement is meant ambiguous as perhaps the BoD had expected today's announcement, perhaps needed it in order to secure said deal. I can't see many wanting make such agreement without such an important part of the jigsaw being approved by shareholders, if it isn't approved the whole future of REAC is in question. It will be approved as it is a cracking deal, shareholders will in the long term be rewarded, but short term there's not anything in terms of transformational news landing until this is confirmed. All IMO, today's news does confirm the share is traded below real value so who knows what will happen, AIM isn't exactly predictable, but I'd say news isn't imminent although you couldn't have hoped for much better news then what landed today. GL.
Bolgas, totally disagree with you, it could come anytime, today's announcement won't change anything with regards the progress for the HOA.
the distressed Seller is out. See todays delayed trade. They kept the SP down all this time. SP is now free to move either way. It doesnt bother me and others who i know invested here if it takes longer for news as we know when news land its multi bag. 51% shares in sticky hand soon.
> The terms of the Heads of Agreement between the parties are legally binding, however, are subject to the completion of, inter alia, legal, financial and technical due diligence, which is yet to commence and is expected to take approximately 60 days Problem being there's not much action now until late February at best, I doubt finance will be sorted until after EGM on 6th February, or much else for that matter until this news today is confirmed by shareholders. Can't see anyone wanting provide funds with this uncertainty, it will need clearing up before firm commitment from investors IMO. Cracking news, however don't see much happening personally until after EGM. Share does remain undervalued and there's some very good research on this thread. I'm sure those holding will be well rewarded but a little patience might be required to realise that true potential.
could we be double digits by the end of jan, thats the question.
RELEVANT FACT EBIOSS ENERGY, AD January 10, 2017 NEGOTIATIONS TO ACQUIRE 51% OF REACT ENERGY GROUP AT THE AIM OF LONDON Pursuant to Article 17 of Regulation (EU) No 596/2014 on Market Abuse and Article 228 of the Consolidated Text of the Securities Market Law, approved by Royal Legislative Decree 4/2015 of 23 Of October, and related provisions, as well as in Circular 15/2016 of the Alternative Stock Market (MAB), we inform you that: Today, the Irish company REACT has convened an Extraordinary General Shareholders' Meeting for the next February 6, 2017 with the objective of approving the issue of 78,210,000 new shares for the conversion of the debt bearing EBIOSS In REACT for the sale of the gasification equipment which was formalized with its subsidiary Newry Biomass Limited on 31 December 2015 and amounting today to an amount of 5,150,226 Euros. The conversion of the debt into such shares would be made at a price of 5.53 pence and is recommended by the Board of Directors of REACT and agreed with EBIOSS, but is conditioned to the approval of such agreement at the Shareholders' Meeting convened by REACT . If approved by the shareholders of REACT the transaction in the proposed terms, the debt converted into the new shares will give Ebioss 51% of the Irish company listed on the AIM of the London Stock Exchange, what would happen to be called, in the If it is also approved at the Extraordinary Shareholders' Meeting held on February 6, EQTEC Plc. The transaction would accelerate the development of the gasification project portfolio in the United Kingdom, and consolidate its position in a relevant market, and through a vehicle quoted in it. The operation is considered a "Reverse Takeover" and is exempt from the obligation to launch a Public Offer for Acquisition of Shares to all its shareholders. As a result, REACT has also published the relevant Material Fact, available at the following link available to the market: Http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/REAC/13090465.html Ebioss will inform how its transaction strategy affects this transaction, once it has been approved, as the case may be, in the terms set forth in the agreement proposed by REACT to its General Meeting of Shareholders. We remain at your disposal for any clarification you deem appropriate. Sincerely, In Sofia (Bulgaria), January 10, 2017 D. José Óscar Leiva Méndez President of EBIOSS ENERGY, AD
Coming... This time it will sustain into close, last micro low was higher and sellers are gone + huge volume today again!
Well the SP is up and down as the MMs churn out the short term traders and bring in new buyers. With 150m shares in issue (after Ebioss take their allocation) at the current 4p SP, that would give a valuation of £6m. Yet Newry financial close will now give us €5.3m in cash. Does that mean REAC is currently worth €1.6m or £1.4m??? Well bear in mind that same Financial Close would leave us with an equity stake in NBL (probably around 25% if they give half of the project equity to financiers). This is a plant that will Gross €4m a year with net operating profit of €2m pa, will offer a 15% IRR and pay down bank debt in 8 years. Has a historic ROC agreement of 1.9 ROC and also has permission to double in size to 8 MW. Then we have Clay Cross a £50m project which we currently own 90% of the equity. Enfield possibilities of doing a deal with the new landlords again a £50m project. The wind turbines which with a small investment €2.4m could see returns of over €1m net operating profit pa. 30% of the vehicle which owns 3 smaller biomass projects. An AIM listing. Tax losses carried over. The backing of Ebioss and in turn China Energy. Joining a team with a potential project portfolio of £330m in the UK alone for Waste to Energy. Be the name and face of EQTEC technology. The potential to clear the concert party and wipe the slate nearly clean with our debts. I can't see that the sums of the parts are anyway reflected in the current SP....
Hi Clive, Maybe was a bit wrong to do that, it certainly wasn't meant to be a comparison in that way, more that Ebioss would have argued and been offered the best terms for this deal (as placees in a placing invariably get). So that Ebioss feel that 5.53p is a favourable deal for them even if it is a premium to the current SP. Since then read they want to purchase the 38.5m warrants from the concert party and they have a strike price of at least 10p each, so again suggesting Ebioss believe there is value in those or value in not letting the concert party help themselves at 10p down the line. Whether Ebioss want the warrants or want to stop anyone else having them and diluting them out in the future I don't know, but bigger purse strings at work now and with China Energy a multi billion dollar company as an agreed finance partner, things look very good.
Trout you compared the Ebioss t/o as similar to a placing at a premium. I agree except Ebioss will not sell a single share but hold them all to maintain their 51% control. Then they can get on with reversing their UK projects into the new company for starters! GL. (You may see new directors filling their boo6ts after 7th Feb!)
Now I am sure we will see this happening as more and more digest the size of this compared with the lowly mkt cap of the Company. Even with all the new shares issued the current SP gives a valuation of £6m when the Newry Financial Close itself gives us €5.3m are you really telling me the balance is all we are worth currently???
LOL! Which Directors? Ebioss will be installing some and the only one we know likely to stay as an Exec Director is the current CEO, whether the NED Chairman stays I don't know, not sure he is a Director of FBD any more.