Member Info for 30silver

Gotcha, the jury's still out for me on gasification of RDF, especially given the failures of Outotec, Energos, Air Products. Small demo plants are all well and good, but commercial scale plants at more than 3 tonnes per hour are another matter. I'l have look into the two university projects, the big issue with a lot of those is that they don't accurately represent the fuel supply that will be received, as it's often very carefully sorted and waste companies will try and sneak all kinds of sh*te in.

Hi all - new to the board, but not new to this company, I've been following it for a while. Can someone please explain what: "formal legal action to recover project development loans at the Deeside project in Wales, for which a settlement agreement has recently been signed, in April 2024" means? I'm familiar with the site, as well as the close by Parc Adfer and Shotton projects - and from what I can tell one of the main issues with the Deeside site was that they finally realised that gasification of MSW / RDF simply doesn't work, so it was being offered for sale at £15m despite not being able to get a grid connection until almost 2030 which meant that whoever bought it would just be sat on it, waiting for NRW to revoke / refuse the permit because nobody in Wales wants an EfW plant anywhere near them (same in Scotland).

Is anyone else signed up to the presentation for next week? I'm trying to work out how much info will be shared, in that will we get any decent insight (like I'm sure the Institutional Investors have) or will it just be fluff and guff? I'm watching the YouTube recording of the November presentations at the moment, I'd imagine that this next one will sound very similar, as in we're losing money so we need to grow, we need cash to grow but once we get to £50/75m sales there'll be loads of cash.

What the actual f**k? So glad I held off on getting in at 3p!

Not going to comment on the management as I've not read enough yet, but seems like pent up orders just need to be delivered - perhaps that capex facility from Liverpool City Region will unlock it? They just got £13m in December so there's no way that's been invested and delivering results yet surely? I'm concerned about the working capital position, but the last couple of statements suggested the cash burn had been arrested, and that once the last furnace is brought online (expected later this year) they will be at £50m T/O - a huge increase from 2023's £8.3m and surely if they even get half way there you'd have thought that would have them cash generative? What's the break even sales level needed - I can't see reference to it but I'd have thought for a business that's lost money every year they'd be acutely aware of what that level was?

I'm brand new here, and might be considering getting in given the price now - seems like they have the contracts they just need to be able to deliver. I don't understand this "scrap" (autocorrect just changed that to "scam" I'm glad I checked) problem they have - does this mean the production process is very wasteful which is eroding margins?

Hi Edwin, not de-listed, but admission to trading were cancelled, if you check the trades you can see the last trade was on 8 Sep so it appears that the cancellation has gone through. The de-listing will likely need shareholder approval as a separate exercise, but there's no reason now to assume that everything won't go according to the timetable.

Fear not Paddy, you should have your cheque for 11p per share in the next 10-12 days, and as downbutnotout says we should get another 2-4p (I'm confident of 3p+) at some point in the next 8 months, but could be sooner. If you can get more than 2p per share before cancellation from trading at CoB 8 September it might be worth taking it if you don't want to wait until May 2015. That said the trades at 1.88p seem to be indicative of the value you could take prior to 8 Sep.

RNS just out, good news is that the court have given their approval, slight bad news in that there's a delay in returning capital to shareholders. Not ideal but it would appear that it was out of the control of the Company so we'll just have to be patient. I'd still like to see something from the Company about the second tranche coming back to shareholders, and just how much of the £4.7m is likely to be eaten up by "non warranty" elements, such as running costs, severance packages and bonuses, also still nothing on the possible insurance policy solution to waiting for the warranty periods to run their course either. Come on guys, it's not as if you're busy running a business any more - what's the hold up? Court Approval Wed, 20th Aug 2014 14:36 RNS Number : 6538P Bglobal PLC 20 August 2014 ? 20 August 2014 Bglobal plc Court Approval Bglobal plc (the "Company") announces the capital reduction set out in the Circular to shareholders dated 10 July 2014 (the "Circular") received the approval of the Court earlier today. Due to certain conditions imposed on the Company by the Court, including placing relevant insurance, the Company expects to issue B Shares to shareholders later than the expected timetable published in the Circular. Accordingly, the following is a revised timetable of the principal events for the Return of Capital and the Delisting (both as defined in the Circular): Record Time 6.00 p.m. on 29 August 2014 B Shares issued after 6.00 p.m. on 29 August 2014 Ex Entitlement date 1 September 2014 Redemption of B Shares By 2 September 2014 Latest time and date for dealings in Ordinary Shares prior to Delisting 5.00 p.m. on 8 September 2014 Cancellation of admission to trading on AIM 7.00 a.m. on 9 September 2014 Despatch of cheques or, if held in CREST, CREST accounts credited in respect of proceeds under the B Share Scheme By 12 September 2014 - Ends-

Hi Mongie, I don't know for certain but my understanding is set out below, if anyone else can update / correct it that'd be much appreciated. - 1 B Share issued for every A share held at the record time (6pm 22 August - a week tomorrow) - 11p per B share paid out ("redemption") and then the B shares are cancelled (done by Tuesday 26 August) - A shares will likely be worth c.1.5p following the issuance of the B shares (given that the 11p redemption per B share is factored into the current price of 12.5p) and will be cancelled from AIM at 5pm on 1 September - Further payout once warranty claims on the two disposals are clarified / settled, could be up to an addition 4p per share, much more likely to be in the 2-3p range as other costs will need to be paid out in the mean time and we cannot be certain what warranty claims there may be (although we all hope there are none). This could take up to a year from the disposal date, so next April but hopefully something can be done to get the issues settled sooner. The current price does give some "value" to those buying at the moment, but it's uncertain at this time, hence the SP isn't in the 13 or 14p range. I would hope that we will see 14p in total for our shares, with 3p coming next year, so it's a question of whether you are happy to wait 8 months or so for the extra 3p or do you can in now at 12.5p and sell?

Anyone going to the meeting today who can give us an update as it happens? Should be a rubber-stamping exercise hopefully, but still good to hear as soon as we can that the plans have got the approval they need from the shareholders.

Certainly is, with his share of the voting rights it would have effectively been a veto. I'd seriously doubt there was any inside info on a run-off schedule, more likely that this was seen as the only sensible option given that the business is now just an empty shell, and shareholders (including PK) will want their money out sooner rather than later. I doubt the irrevocable will speed things up (shame) given the level of shareholder support required (if it were 50% then a couple more would save us the wait until after 30/July) but it's good to know the veto is off the table.

I must have missed that point, and a fair argument if the builders are in, not the best environment (unless you're a builder I suppose).

It was only temporary though, seeing as in the circular they inform us that they have served notice on the lease effective 30 September. They still have the office at Phoenix Park (previously used by Nutech) so I don't know why they needed to rent another office, seems like a waste of money to me.

It doesn't please me much, but then I am not completely surprised we haven't had one yet. In terms of the potential claims coming out of metering £2.3m sounds a lot but who knows what issues could be lurking there, I wouldn't have thought EAS would have had a two-bit firm doing their DD so I'm hopeful for little / no claims coming in. I'm still trying to reconcile the cash at year end, the cash coming in and the resulting total pot for distribution / warranties, I'll feed back any thoughts I have when I've had a chance to review the numbers in more detail over the weekend.

Not a daft question at all, and one I've asked the company. I was told that there is no fixed date, just that it will be "as soon as practicable" and definitely before the end of September (personally I'd like to see it much sooner but I appreciate that it's not necessarily as simple as we'd all like). I have also been informed that we will be offered two options in terms of how we take the cash, one attracting income treatment and one as capital, so that the investors can plan effectively for tax. The latter point was a definite plus as my average price is way above the 13-15p range that is likely to be paid out.

Putting the money on deposit (no matter how short term) is a good idea until the distribution timing is clear (and presumably the £5m+ for warranties can be put on longer term deposit and should get a better rate). I'd love to know where this "offshore" is where we could expect over 7.5% interest though? I know a few people who would like to put their money there too (presumably this isn't like when our local councils got greedy and lumped their cash into Iceland only to find out that when something sounds too good to be true it usually is). That said even if we only get 3% that should earn £40k per month which would go quite a way to paying the overheads whilst the BoD decides on how the 11p per share is to be distributed. Let's hope the money doesn't just sit in the current account!

Good news - let's await the next circular and more details about when we get our money, and what the run off schedule looks like for the £5.1m

From what I understand of the process there will need to be another shareholder meeting to vote on the de-listing and this would require 75% shareholder approval. I can't see it not getting through as that will be the route to getting as much of the remaining cash from the Utiligroup disposal back out to shareholders.

"... a bonus to JG for pulling off this deal at a value which is 4-5 times higher than the market cap at the time he came on board?..." WOW - interesting maths there, the share price was at 6.75p when he took over (August 15) and so we're currently sitting at 11.125p (including the small rise today) so I make that 64.8% up, not 300% to 400%!! Even if you only look at the headline £16.1m tag on Utiligroup (with no mention of how much cash is going with Utiligroup on completion btw) then you're looking at a little over double. I do hope the panel have to vet and approve any such bonuses, then at least it's had an objective view, rather than those involved in the process and therefore, by definition, conflicted.