RE: RNS1 Jul 2025 16:26
Testpack
On the NEO website I followed the links for the pre IPO investment and in order to register you have to be a sophisticated or professional investor (which I'm not) to apply under section 708 of the corporation act, which is a maximum of 20 investors raising a maximum of $2m within a twelve month period.
So it naturally begs the question how much is actually going to be raised and through how many investors. If it's $2m and NEO split that equally between their 15 holding companies then....
This raise is not subjected to full disclosure, and on the back of United Hydrogen's name change implies they have been forced to try this approach as the previous one failed. For the sake of the environment, British manufacturing and the potential to turn a profit as a potential investor, I hope NEO can raise some decent money and feed it through to Powerhouse, but with this being AIM I can't help but question the transparency of what's going on, especially when those running National Hydrogen ( not NEO) are unknown. I mean, why don't they disclose who's behind and running these 15 companies, because the NEO management are certainly not on a daily basis.
Why the secrecy for God's sake?
When I e mailed United Hydrogen earlier in the year to ask, they replied that they were not allowed to discuss National Hydrogen.
Is it any wonder people are sceptical and question everything.