Member Info for bcl42

Thanks for engaging today JD. Much appreciated.

If we are going to use the Sanderson facility why not just come out and say it? That would then remove the placing threat and the SP may begin to improve as we head towards MED production.

I suppose now that we have taken the 20% discount/fee hit in shares you are right we may as well use it. It could see us through to Q1/Q2 next year when the MED cash flow is meant to take care of a substantial part of our working capital requirement. Let's hope the SP is higher by then as we could have to issue shares for another £1.5m anyway if Sanderson so choose.

I am assuming that SEPCO would love to buy-in but LC is playing hard ball. The way I see it he can either give up 15% of the business now to SEPCO for, using your figure of £6m ( 138m shares at 4.3p) which will give a huge positive sign to the market (and potentially allow a lot of LTHs to cut their losses and sell out) and provide us with working capital for the foreseeable future, or he can place 100 million shares at 0.5p on multiple occasions with the usual suspects to achieve less. Shares have been issued like confetti over the past 18 months or so. A further 138m to get the buy-in of SEPCO seems a no-brainer now against a backdrop of a 0.6p SP. From where are you expecting our much needed cash to come? Maybe I am missing something - seriously.

It does work like that JD. That's exactly why they had the option to buy-in which ultimately expired after 2 (or was it 3) refusals. They could ensure that KIBO actually firstly survives and then prospers to the point where it can have an EPC role to play because at present I would say that survival certainly isn't a given. A chicken feed (whether they pay 0.5p a share or 5p a share is irrelevant to them but crucial to KIBO) buy-in along the lines of the expired agreement appears to me to be a sound multi-decade strategic play (unless they think KIBO's projects are never going to happen).

If I were SEPCO and I thought there was any likelihood of any of the Power Plants actually happening I would be offering LC £700,000 for 15% of the business now. Its petty cash for them. They could go the whole hog and offer £1.3m for 25%.

And just so we are all clear, this means absolutely nothing 'At the date of preparing the Circular, the Board had no plans to allot New Ordinary Shares'. One way or another funds = allotting shares and we have little or no cash. There is no way that LC has found a way to obtain money for nothing. Question - How low does the SP have to go before LC thinks we might actually have a problem? 0.5p, 0.3p? as these feel eminently and imminently possible. Louis wake up and smell the coffee!!

SirG if there is one thing you really can put your house on with KIBO it is that it will miss any and every timescale. MED first production was initially going to be Q4 this year, it is now Q1 next year. My bet would be Q3/Q4 because that is just how KIBO is .

Absolutely everything is always soon, tomorrow, next year, continuing to progress. All our agreements are non-binding. Everything comes with a caveat. For goodness sake let’s actually arrive somewhere, anywhere. Deliver something!

The way the SP is continuing to drop suggests that a placing at 0.5p will be a coup. Come on LC WTF is going on? Let’s stop playing games. Either you have what it takes or you don’t.

Given the outstanding work we have to do along with normal working capital requirement including salaries (we have not been told that the Directors are waiving their salaries) alone, I stand by my view that £1m is a drop in the ocean. One way or another we will need to raise funding to get us through the next 6-7+ months before any likelihood of MED cash flow. Unless LC comes up with something incredibly creative or out of the blue (e.g. early SEPCO buy-in) then one way or another we will see substantial dilution, regardless of whether it is called a placing or not. I don't want to see Sanderson being given the bulk of the company for peanuts or a 'stupid' placing at 0.5p or less and that is my major fear (probably along with most other holders).

JD - 'we need to recognise that and be prepared to wait here' - What do you mean when you say 'wait'?

A placing at a similar 33% discount would be very painful at c. 0.5p. We would need to issue 200m shares to raise a mere £1m which wont last very long. It feels pretty crappy here at present despite LC's best efforts to provide information. I do hope LC has something positive up his sleeve regarding funding.

0.6’s are not far off??

Can anyone load the presentation on a mobile device as I can’t?

If the directors are not being paid currently I think it. Lwould require to be included in a RNS as it is a significant issue.

I have high hopes too. The next 3 months should be more interesting

That is unbelievable from someone who has posted nasty comments on numerous occasions about people losing their pensions.

And finally we get some sense and I quote - ‘BWTFDIK’.

No nasty surprises and good to have confirmation of at least 2 PPAs in next 3 months and SEPCO cash still there. Just need the passage of yet more time.