Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
Malcolm you have kindly confirmed no action at the site on a number of occasions and I also did the same back in Jan/Feb. I am presuming still no action even though this is supposed to be up and running in the next 8 weeks.
I am expecting a Moz PPA to result in another spinoff. I also fear that KIBO will ultimately hold tiny shares of the new companies. Those companies may well be worth large amounts but my shareholding will be a small percentage of current. I know that equity investment in the projects would dilute my holding but I think each hive off has a more destructive effect on existing holders. One only needs to look at KAT as a example where I expect our ultimate holding to be 10-15% tops. We will see. A PPA would be a good start but I am not holding my breath.
I asked the question at the recent webinar as to whether a PPA could be agreed when the size and makeup of the power plant has not been decided. LC said he didn’t understand the question. I think that said a lot in itself. Q4 = December 31st at best = Q1 2021 and so it goes on. A few weeks = imminent = shortly = whenever = significant progress = never. That’s KIBO for you. And yet another 6 month delay = another billion shares issued. That’s the bit LC really doesn’t get.
I think we can take it as read that LC has a different view. He thinks he has increased shareholder value during his tenure as CEO and that the IPO will mean we see production at MED much sooner than the end of the year. Work either of those out.
I have added as much as I dare and have a ridiculous (it’s all relative) sum invested here which could be larger than yours but with significantly less shares (which currently makes me very much a loser). I cannot risk any more. If I was only buying in recent times I would have needed to issue a TR1 a while back. But alas I, like you, bought a large holding when the SP was considerably higher and there were 150m shares and not soon to be 3.5 billion. GL to you and all holders both LT and new. Not PMSL.
'The original anticipated date for the finalisation of a PPA of the 30 September 2020 has therefore now been extended for a few weeks and the Company will keep shareholders updated on progress' - We don't want any further updates on progress just confirmation that it is signed and a done deal.