Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Started: ControlzFreak, 8 Jan 2024 17:50
Last post: Stoxx, 3 Mar 2024 22:54
Similar story with AMTE the battery firm scam. A group of investors have got together to expose their scam dealings and the same should be done to Velocys. Total scam company who have robbed loyal and trusting investors. Anyone agree?
@MarketViking
A few of the companies that I seem to remember going this way, being taken private at the expense of shareholders:
Sirius Minerals
Carillion
Interserve
4D Pharma
Restaurant Group
Presumably the new owners all saw future profit.
@ControlzFreak
If what happened here were in any way "usual" then I guess nobody would (ever) invest in anything?!
Yes, shareholders have been screwed big time. I think the root of this ugly situation is that Abramovich's fund (with suspected Kremlin links) owned a large position. I think that is why a lot of big banks, institutional investors, et al have been afraid to touch VLS with a 10 foot pole for the last couple of years. The little guy (retail investors) have been collateral damage in a stinking political s***show.
@annab what platform or broker/bank did you use to acquire shares?
@everyone else - what is the logic of the major shareholders who agreed who still will virtually make back nothing ?
AnnaB, from the money he has filtered out of Velocys, he can afford the best therapy.
Started: Link21, 18 Jan 2024 23:37
Last post: HoofHeartedAgain, 31 Jan 2024 12:04
Hopefully you don't have to wait too long.
Your post led me to check with my online broker (iWeb) and the Velocys funds have been credited there this morning.
Supposed to be paid by 31 Jan, 14 days after 17 Jan stop trading date according to the Velocys announcement. To date I have received nothing. ii are on the case, I believe.
What is the mechanism for getting our funds back out of this disaster? Is it automatic or does it require action?
Good luck to all the genuine and morally intact among us.
We must endure injustice .
Started: bbrinkw, 15 Jan 2024 23:18
Last post: toneman, 16 Jan 2024 09:42
Perhaps the new owners will give the management an ultimatum... either take your remuneration solely in shares or you can walk. You've got to have everyone on the same path or they'll get screwed same way we did.
Unfortunately the takeover is the best option for the board. They continue on their high wages and they get rid of all those annoying original investors who keep bothering them wanting updates. It's a win win for them.
Amount of capital required to deliver medium term plans is £31.434 million and a bridging loan of £3.5 million to ensure sufficient funds for Velocys to become effective. That is more or less £35 million needed for the company to succeed.
In its half year financial report issued in September, Velocys said it hired EcoEngineers to validate the reasonableness and accuracy of the life cycle assessment (LCA) of the proposed project. That analysis predicts the facility will be able to produce SAF with a deeply negative CI score of -389 grams of CO2 equivalent per megajoule (gCO2ei/MJ), which translates into a more than 500 percent carbon savings relative to fossil jet fuel.
There are 1,651,798,992 issued shares so Velocys need 2.1p per share to produce the fuel.
Should Velocys have asked if their shareholders could raise this money? 2.1p per share and say fixed priced warrants you could purchase after the company becomes a going concern.
Last post: ripley94, 11 Jan 2024 23:36
Was feeling dumb for losing so much here .
Seeing £25 million was raised from institutions 26/11/2021 at 8p and I have not read they all got out made me fell a bit better .
Sirius energy all over again 😠
Just seen this news of near 0 takeover (0.25p )
Yet another AIM big loss and must be one of my largest share losses ever .
Patience did not work , early stop losses would of , averaging down on AIM a no no .
Only consolation is my broker did do me favor by not letting be buy more , have a note I would taken a further gamble at 2.3p. after the June 2023 placing at 2.5p.
I know nothing but why did the bigger boys buy the 2.5p placing just 4 months before 31st October news ?
-71% fall to 0.29p ( maybe with the spread pis would not of sold for much more then the 0.25p )
Velocys PLC - Oxford, England-based sustainable fuels technology company - Agrees bid from Madison Bidco Ltd which values each share at 0.25 pence. Madison Bidco is a newly formed company indirectly owned by a fund advised by Lightrock, a fund advised by Carbon Direct Capital, GenZero and Kibo Investments. In addition, Madison agrees to provide up to GBP31.5 million of growth capital to Velocys which is expected to ensure that Velocys and its management have the capital resources needed to deliver against Velocys' medium-term strategic plans. In connection with the deal, the Carbon Direct Fund agrees to provide a secured bridging loan of GBP3.5 million with a view to providing sufficient capital for Velocys through to the acquisition becoming effective. Bid values Velocys at GBP4.1 million on a fully diluted basis and provides a post growth capital valuation of up to around GBP35.6 million.
Took up rights at 2.5p on Friday , no discount and paying more then last buy .
Broker will not let be buy more , I would take a further gamble at 2.3p.
They might be doing me a favor time will tell .
Price manipulated above the 2.5 p this morning best price since Rns.
Broker deadline at 11am so took allocation up.
Not many .
When will the voting be complete and results announced? Make sure you get your votes in!
The big position has been removed at marketscreener - not visible anymore… hell what a theatre, fingers crossed that the voting is NO…
Started: RickSanchez, 3 Jan 2024 10:59
Last post: RickSanchez, 3 Jan 2024 10:59
How can there be this many in such a small company? I count 98 in total. How does that work?
Started: ControlzFreak, 24 Dec 2023 14:09
Last post: thurgarton, 2 Jan 2024 17:41
You would have thought that our dear (sic!) CEO, as a member of the Jet Zero committee and the recipient of the winning grant of £27 million (which the company, for reasons never disclosed, failed to find matched funding) from HMG, would have made a few useful contacts that could have helped with regard to the current situation. Instead we get total silence from the Velocys PR team, and a fait accompli takeover bid for peanuts, which both the Board members and Ervington have been forced to back if any alternative bid is made. As I recall, Ervington ducked out of the last two fund raises, so I would guess that their 300 million shares would have cost north of 10p each which equates to a loss of around £30 million on their investment. We can essentially ignore the directors' holding, but the Ervington one, had it been cast the other way, would have made the takeover virtually impossible if you add in the hostility of the PIs (75% majority required). So why would they do it - after all, they only stand to get £750K back on their investment. Anyone have any thoughts.
RIickSanchez: Well done. Wish all shareholders did the same.
I would rather see VLS go into insolvency and lose what little I have left than for Henrik Wareborn to continue in is position at VLS. These guys lined their pockets instead of putting the company and shareholders first. Now they have taken another opportunity to turn their backs on the shareholders and still get paid. That is why I voted no.
Fair point Rainman, I think I already understood that from the comments I read. I've no intention of changing peoples mind regarding their vote. The only reason I posted what I did was to point out to some that they're not likely to get a better outcome than the current offer. I've been in this position several times and I haven't had one yet go any other way.
Counter point is that I think a 'No' vote would be interpreted by the BOD as a vote of confidence in them that people want them to continue - I think the BOD are really that self-centred as to interpret it that way.
Toneman- people own these shares out right - so they can vote in any manner they want. A lot of people do not have confidence in the board now and felt like they’ve been under minded and not represented fairly - as a result they are responding as such in their own right (and maybe just maybe there might be a small glimmer of hope)
Last post: Djmtrading91, 1 Jan 2024 22:13
Carbon direct was alleged to be the matched funding investment now they take over on the cheep after waiting it out can't be right
Done nothing for shareholders value very misleading right up to the end . They led us to believe carbon direct would invest stalled the board with no legal contract to enter talks I guess they were had and no they pick up the shares on the cheep buy the lot . Seems like something doesn't sit right with this dealings must of broke some financial code of practice
How reliable and recent is the MS data? There is plenty of outdated info there as well.
Marketscreener showing one party has 35% of shares - unfortunately it is decided!
rip-off … company build with shareholder money and next year they make profits in their own pockets…
Started: charliesmith, 13 Dec 2023 18:46
Last post: ramjisohail, 24 Dec 2023 00:11
Kindly help each other on how to vote for NO. This is a serious matter and looks a big fraud going to happen with small investors like us. Lots of small investors are struggling to find how to vote NO on different trading platform like trading 212 and others. Those who are still stuck on how to vote, please ask here so some can advice you. This is really important for us to stop this sell because we will be big looser. Many thanks.
Boglary - I genuinely feel if the directors were more open and transparent we could raise more funds through current and new investment base with out getting burned in a scheme like this.
Call you broker they’ll tell you how to vote
Market cap is not that much. Can't we shareholders buy it together? Companies should be competing for such a company, bidding over each other! I remember when they raised capital for 5p per share, we were great help to develop the technology but now that it is working we are not needed any more...
Definitely no. Will the bank (I am with Lloyds) send a link with the voting options? How to vote?
Voted no as well
Started: Drax77, 13 Dec 2023 11:23
Last post: Drax77, 13 Dec 2023 11:23
Documents outlining the offer have now been sent out to Velocys shareholders, and a vote on the proposal at court and general meetings has been scheduled for 8 January 2024.
Carbon Direct Fund has agreed to provide a secured bridging loan of £3.5m to provide sufficient capital for Velocys through to completion of the acquisition.
Started: gyroman, 6 Dec 2023 14:56
Last post: MyrtleMan, 11 Dec 2023 11:23
You will not get a choice to hold shares in the private company, if it's voted through you have no option other than to accept the 0.25p per share you hold in cash and the shares are delisted.. it's sayonara to the current shareholders and any future explosion in value of the company will all belong to the new owners (and the management who manage to hang on in there. )
Do we estimate the value of the privately held shares will go up once there is anther 40 mil pumped into the company?
Small correction. If the company is taken private its shares will delist off AIM but they will still exist. If people choose to keep their shares they can. Holding shares in a privately held company is risky. The company will no longer be bound by AIM rules re RNS etc. Potentially very difficult to buy and sell privately held shares. You’re tied in and wait.
If the deal goes through, then the company will go into private ownership and there won't be any shareholders.
Who would want to vote for that!
But the bid price is not just the only cost....the consortium are investing $40million into the business.
If they say the company is insolvent if this deal does not go through, then shareholders should vote for it
Started: expatbrat, 5 Dec 2023 16:30
Last post: nit2wynit, 5 Dec 2023 22:06
I was there defending you pal, back in 2020..........
Remember, over 70% of Retail Traders Lose......
Seems a lot of them were in here.
All the best to you.
I guess this is goodbye. I saw this coming 6 years ago. I hope those that took my comments seriously got out when they did. For those who thought I was being too negative, I wish you well.
Started: Link21, 5 Dec 2023 14:04
Last post: RickSanchez, 5 Dec 2023 21:15
I'm voting against it just to take a swing at the company going into administration, at least the pr1ks running the company now will be out of a job as well. It is absolutely infuriating that they keep going when the shareholders get burned.
Jeez this feels a proper hatchet job really.
Look whose queuing up, Genzero who are part of this were founded by temasek…I mean temasek is huge, $40mn is a rounding error they are like $400bn aum!
Don’t really get how a company like this which “could” be game changing in the U.K. is being allowed to just shift off into private hands where no qs asked and now effectively part of the Singapore govt.
I’d imagine our fuel bill for the RAF alone is more than this investment!
I agree let’s vote against this - given the facts there should be a placement to give investors a chance to come up with funds to prolong. Vote in a new board, give firm a longer runway to get new investment in. There should be a conference addressing the investors and an opportunity to answer our questions
Garonne. YES, agreed. Let's vote against if we are allowed to vote at all. These directors have been corrupted . They have secured their payments and possible brown envelopes.
Well, I assume we can vote to reject this takeover. I mean why should we endorse the company going private for not even pennies? I'd rather it goes bust so that the scheming directors don't get anything either or as little as possible. Isn't it wonderful how suddenly there's money available to invest! It stinks to high heaven.
Started: shenners, 5 Dec 2023 08:02
Last post: spot7, 5 Dec 2023 18:22
Easy to say now but explains why there was such a lack of purchases from the Directors. Something I shall look out for in future.
Rainman7 - These directors have not been been open. They have filled their pockets.
No not ethical at all. AIM = The Wildwest
So those that hopefuly still have money to put to work what green stuff you looking at. I've started buying Gevo and have some Aemetis but want some UK ones. Quadrise? Or am I looking at another Velocys there?
Thanks for the info spot. So as at June 30th 2023 share capital was £16.5m + share prem £224m from equity investment which involved patents, securing land in both US and Uk, other tech advances, and other stuff and now some company can come in and buy it all for £4m. Doesn’t feel ethical at all.
Rainman7 - I'm not sure what happens to your shares if you say no but it goes ahead. It goes private so no tradeable price as will not be quoted. If offer not taken up looks like insolvency and as for a placing they didn't raise what they wanted last time and this time around it would be a supermassive dilution to get the money required.
Started: Link21, 5 Dec 2023 13:50
Last post: Link21, 5 Dec 2023 13:50
I take no pleasure in reaffirming my previous message.
I have lost a considerable stake in Velocys.
Yet again the peasants have paid the elite. Helping them become even more wealthy at our expense.
We will get your company of the ground and you ditch us when the money is about to take off...
Not for the first time this year for me re: Deepmatter
Same story !
Aim - Britain at its extremely dubious but legal best.
this doesnt deserve any good luck its been a **** show, fact is there were huge cleantech raises and not 1 funder was interested in this board at all.
So looks like they need 75% or more of shsreholders approval for the 0.25p take over. But will be providing on going cash around £31.5 million and a bridging loan if approved. Bizarre how the board have all said yes......oh yeah keeps them in jobs.
Started: RickSanchez, 4 Dec 2023 17:47
Last post: RickSanchez, 4 Dec 2023 17:47
In the final month of VLS's existence on the stock market, who's still holding?
Started: plmacca, 1 Dec 2023 10:29
Last post: plmacca, 1 Dec 2023 15:16
Thanks. I thought it might be but wasn't too sure.
Because an offer has been made the takeover code applies, which requires disclosures to be made. The 8.3 disclosures are necessary for holders of 1% of shares or more. The 8.5 ones are 'exempt principal traders', effectively dealers with some indirect link to company or offeror requiring their trades to be disclosed.
I'm a bit of a novice. What do all the daily RNS notifications mean?
Started: charliesmith, 30 Nov 2023 18:43
Last post: MyrtleMan, 1 Dec 2023 10:56
Anyone know if Oasis Management had held that 21m shares prior to all this nonsense or if that's a new investment? Only pocket change for them at around £50K, but interesting that they're taking an interest at this stage if it is a new play.
That wasn't after-hours trading, it was someone dicking around with the wide spread of 24-33. Nothing to see here.
Nice +42% after hours 42% is nothing for a nano cap company.
Started: spot7, 30 Nov 2023 09:50
Last post: spot7, 30 Nov 2023 09:53
Just to see who has done what in one go for future ref. If anyone has more please post. May help some with future investment decisions. GLA.
Lufthansa
Germany's flagship carrier in August signed a letter of intent on the production and supply of SAF with specialty chemicals firm HCS Group. Production in Germany is set to start in 2026 with a volume of 60,000 metric tons per year.
The carrier in 2022 strengthened its SAF partnership with OMV, which also supplies the biofuel to Austrian airlines at Vienna International Airport.
Norwegian Air
The Norwegian carrier in April partnered with a local producer of electrofuels, Norsk e-Fuel, to build a SAF production plant in the country. The plant is scheduled to be operational in 2026 and it should secure about 20% of Norwegian's total SAF needs by 2030.
Ryanair
The Irish airline in October purchased 500 metric tons of SAF from OMV , as part of an MoU to buy up to 160,000 tons of SAF over eight years starting from 2023.
Ryanair also signed a supply agreement with Shell in December 2022, to buy 360,000 metric tons of SAF from 2025 to 2030, a fifth of what it needs to meet its target to power 12.5% of flights with the fuel by 2030.
It has struck similar deals with Spain's Repsol , set to supply up to 155,000 tons of SAF between 2025 and 2030, and Finland's Neste , which powers all Ryanair's flights at Amsterdam Airport Schiphol.
Wizz Air
The budget carrier said in April it would invest 5 million pounds ($6.1 million) in biofuel company Firefly, expecting to supply up to 525,000 metric tons of SAF to its British operations from 2028.
Virgin Atlantic
The British airline partnered with Neste in 2022 to acquire 2,000 metric tons of SAF.
In December last year, it agreed to buy 260,000 tons (85 million U.S. gallons) of SAF from Gevo by 2030, via a joint venture with U.S. airline Delta.
Started: spot7, 30 Nov 2023 09:48
Last post: spot7, 30 Nov 2023 09:48
FACTBOX – European airlines secure supplies of low – carbon jet fuel
28 Nov 2023
Nov 28 (Reuters) – European airlines are ramping up investments and signing agreements to secure supply of sustainable aviation fuel (SAF) needed to meet targets set by the European Union aimed at curbing the aviation sector's carbon footprint.
The adoption of alternative fuels made from bio-based materials could cut carbon emissions by up to 80% compared to conventional fuel, and is seen as a route to help the sector reach its net zero emissions goal by 2050.
On Tuesday, Virgin Atlantic will aim to highlight the importance of the alternative fuel's use with a 100% SAF-powered flight from London to New York City.
SAF currently makes up less than 0.1% of aviation fuel used globally and costs three times as much as regular jet fuel when made from waste oils, but other versions made from green hydrogen can cost more.
Here are some deals signed by European airlines so far:
Air France-klm
In November, the group invested $4.7 million in DG Fuels' SAF production plant in the U.S. state of Louisiana, a step towards its target to use SAF for 10% of its flights by 2030.
It also said on Sept. 18 it had signed a memorandum of understanding (MoU) with Austrian energy company OMV to buy more than 300,000 metric tons (100 million U.S. gallons) of SAF by 2030.
The deal was followed by an offtake agreement for OMV to supply the airline with 2,000 metric tons of SAF in 2023.
Easyjet
In September 2022, the airline signed a five-year SAF supply agreement with Q8Aviation, the jet fuel unit of Kuwait Petroleum International.
Finnair
In June 2022, the Finnish carrier signed a five-year deal worth $192 million with U.S.-based renewable fuel producer Gevo to buy 21,000 metric tons of SAF per year from 2027.
Iag
The owner of British Airways and Iberia in August signed an agreement to buy 14,700 metric tons of SAF in 2023 from U.S. energy firm Phillips 66 .
Microsoft was also involved in the deal as part of its efforts to cut carbon emissions of its business travel and air freight.
In November 2021, IAG and Southwest Airlines jointly agreed to buy nearly 920,000 metric tons of SAF created from woody biomass in Mississippi.
Under the deal, IAG will buy 220,000 metric tons of SAF over 10 years starting 2026, while Southwest will buy 670,000 tons over 15 years starting from the same year.
Icelandair
The Icelandic carrier in March said it had signed an MoU with green hydrogen developer IdunnH2 for the use of up to 45,000 metric tons of SAF from 2028 onwards.
Jet2
Britain's Jet2 said in April it was making a "major investment" in a SAF production plant in northern England, with production expected to start in 2027.
Started: charliesmith, 28 Nov 2023 09:00
Last post: nit2wynit, 29 Nov 2023 20:22
However, I also have a Spread Bet position @ 0.231p for 1000ppt. I'll take a hit if/when it fails But upside.....Grrrrr!!
Draxx, i could be mistaken as it does happen, from time to time, but I think we've conversed over 2 years ago when I joined this chat to hear the absolute drivel coming from others about how great this stock was and even then i said, it's worth 1p!
If there's a way to find my posts feel free to.
I'm actually the life and sould of parties as I'm a mobile Karaoke Genius :D
I also give stock advice.
Virgin Gal, Robin Hood, Fuel Cell.......
I have others but you gotta pay. :D
I bet you're fun at parties 🥺
The entire market is in decline around the world for the last 3 years. The cost of living crisis and housing bubble about to crash again, all the while WW3 dominates the news and you're going on about Poor Management at VLS?
It's not even a Penny stock. By the end of 2019 it's was practically bankrupt.
Only Fools and Gamblers are playing this game with VLS. It should only even be considered a viable stock around £1.
Only buy what you can afford to lose.
Perhaps the bosses paid themselves some tasty bonuses knowing the end was near. A nice "legal" way to get out with their pockets full. In an ideal world, an investigation that could lead to fraud, would be spectacular. How a remuneration board could approve over a million quid in bonuses for two people when there is virtually no revenue or cash runway. I wonder how many stock holders are left, retail together with institutional. Is there any way of finding this out?
Started: scoredagainsteps, 29 Nov 2023 11:09
Last post: scoredagainsteps, 29 Nov 2023 11:09
THINKS IT WORTH BUYING 50 MILLION
Started: draft, 29 Nov 2023 08:21
Last post: scoredagainsteps, 29 Nov 2023 11:05
IMO its a fair punt at this price good luck all
VLS really messed up, so many CLEANTECH investors out there but no one was interested here.