Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
PT SET TO 25P
Did Martin not say previously something along the lines of returning all the money to shareholders if the share price was not reflective?
Surely with the way the market is at the moment he is not planning to go ahead with an acquisition.
PRICE TARGET RAISED TO 43GBp FROM 33 GBp AT BERENBERG
BUY RATING KEPT
Sainsbury trading statement - sales +11%
Some nice prints going through at 10p. Should see this on the move this afternoon
Not sure if this is a stupid question...! When/if this does end up listing on AIM what happens to my existing AQ holding? Will it be converted to be AIM listed or will they be dual listed?
Agreed - cue the vox interview on Martins new idea to burn cash
InfoSec is running 20 - 22 June so we should hopefully see some soon. Fingers crossed
Email received from IG just now.
"It was a pleasure talking to you on call.
As informed on the call, we are still waiting for CITI to pay us with the tender so that we can post it to your account.
Do not worry as soon as we have it will be posted to your account immediately.
Thanks for taking time to reach out to us. "
I've just spoken to IG on the phone, they have contacted their custodian who are yet to receive the money. Why am I not surprised
Anyone using IG? Still nothing in my account.
Management - maybe an RNS this week to tell us what you're planning on doing with the remaining cash???
Just remember folks, whenever the team provide a date they are working to... invariably they are lying ;)
A fool and his money springs to mind, but maybe we all fall into that category still remaining shareholders. You do realise that since the 2.5p raise you could have received a similar return invested in SPY /S&P 500 for a fraction of the risk.
I was once a fan of the management but they continued to underdeliver and spout baseless claims on interviews. Ultimately you are left with a shell company with a) a dreadful product (read trust pilot) and b) a high likelihood of them burning through the cash and diluting shareholders further in the near future if they are not careful. I then question whether my money would be better invested elsewhere on aim and the answer is undoubtedly, yes. A common frustration has been the lack of transparency with this company, are we any nearer to hearing of this acquisition that the team has in mind? We are now 4 months since the RNS outlining the disposal of LBE. Given LETS is still trading, maybe they would like to update shareholders with a trading update... oh wait, I imagine its probably performing dreadfully.
My point from yesterday still stands that the outstanding cash is not for the team to play around with as they see fit, there needs to be a strategic and coherent business case for doing so - I fail to see how they can provide one in this market. A friend of mine who works in the city spoke to the team prior to the broker change to Cenkos, he referred to them as bandits. I'd have to agree if, as Horsetrader suggests, they look to invest in one of Higginsons existing ventures. If this was to go ahead I believe they would continue to fail in having shareholder interest at the forefront of future decisions.
What are peoples thoughts on the remaining cash / business opportunities?
Personally I feel that, in this dog of a market (particularly for AIM), all shareholders should be applying pressure for proceeds to be returned. Given the erosion of shareholder value delivered by Martin and team over the years I am now reluctant to trust the management team going forward with any speculative plans they may have. I note that Martin suggested returning all the proceeds would be a possibility in an interview with VOX a while back. What they must remember is the remaining proceeds aren't for him and his mates to burn through to then continually dilute shareholders 6 months down the line. I fail to see any compelling investments opportunities that the team might come up with in these markets.
I welcome any thoughts on where you see LETS going forward
Inexcusable and complete disregard for shareholders.
Heres hoping Higginson can get this over the line in the scheduled time frame. If he wants to be backed in his new ventures he'll need to rebuild investor confidence which has been eroded.
VOX interview with Martin just released
Agreed. I feel the consensus among myself and probably many other shareholders would be for the full proceeds to be distributed back so we can put this one to bed.
If 4.9p is returned to holders, Martin would receive c.£1.5m by my calculations from his advertised holding - thats more than enough cash for him to go and flog headsets without making shareholders suffer any longer.
So only a fool would sell at these levels
the market seems to like it...