Member Info for Aubery

Then the guess
My bad

Agreed Scotsman
We’d all prefer 2 but I suspect it will be 1.
Tgg get en the guess is at what cost to currently equity holders
My guess is huge royalty....

Great film that chesh, great film

The event in Mayfair is invite only but I cannot see any restrictions on viewing the webcast. Anyone know if this is open or closed?

Cheers Acro
Appreciated. Not much publicity around the event.
Trust EUA are invited ;)

Anyone have links or details to the NN conference in London on Monday??

Great post PAAA
Thumbs up

Cambray
No doubting it’s an amazing engineering project and will be an amazing employer.
However, as an investment it’s unclear currently. I’ve a few quid left in there but have also invested here.

Elenor,
You’re better reading the RNS’ and the company website than getting your info here

My worst case is a sale of Monch and a special divi of 5-7p
Talk of £1B+ sales are a bit frothy for me but hope I’m wrong

SJ
Exclude the flanks and assess the value...
The company even help by publishing their valuation on the website....
Personally I’m guessing at sale of asset(s) and not TO

NN announce Eurobond of $750M on 28 Oct.... then on 11 Nov announce a $1.5B divi....
The Eurobond is for use for ‘general corporate purposes....’
Hhhhhmmmmmm

Smokingjoe
Not overtly clear on the RNS....
‘Warrant shares and options admitted to aim....on it around 19th nov.
This presumably is ALL the outstanding warrants and options. There will be no further 5 days.

The deadline is for warrants to be ‘exercised’ and not sold.
Warrants can often be sold on a secondary market but this is not the issue here
The warrant holder receives shares and then they have to decide to keep or sell (guaranteed profit and no risk) or do they continue to hold.
Some are likely selling their new shares (and why not...) and this may be what is keeping downward pressure on the SP
But there are shorts open too which may want an orderly exit prior to a rerate. Lots of housekeeping going on. Next week will be interesting. Just a guess but I wouldn’t expect any offer until all warrants exercised.
Hope I’m wrong.

DHC
You’ve lost all credibility.
‘Royal flush,...’
Jeeeeeez

Except as PI’s we still do not know the financial structure of our investment

Elephant in the room....

Flash
One theory is that in order accurately value and/or formally offer a bid for the company and/or assets it makes sense to a stable and fixed amount of equity and shares. The drib drab if warrants converting although small in number makes having an accurate share register troublesome
But it could of course be something else....

JR
It’ll be a lot nearer 2031 than 2021.....

KOH
And the question I ask myself, why would any halo partner accept an arrangement less good than Gina?
I suspect the Halo, yes will save the day but for a huge slice of future profits. They will after all be guaranteeing the £2.5B and may not see much back for a good few years. We already have 8% royalty baked in. Anyone’s guess what gff bff e next slug could be....
I’m convinced the divi amount to SH is now going to be v small and a long time off..... hence low SP....

Cliff
Comparisons to ST1 and ST2 now have no relevance. This is a new project. Forget the past.
For the record I am way down here. I do think there could be some value from here but ....no where near what some are forecasting.
On the basis this new plan goes ahead without hiccup (still high risk) then we will hit cash flow positive much much later, 10mtpa much much later and the slice of the profits we (share holders) will get will be much reduced. High royalty payments will make this much less attractive. And don’t forget ,royalty payments will likely be against gross profit.... not net profit.
The return to any halo partner will unlikely be benchmarked against SP or number of shares in issue (variable and tends to increase) it will be against profits..
See Gina deal. It was genius.
Long and strong but realistic....

Please back up that 20p by Xmas......
A market cap of £1.4B.......