Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Today's RNS must be welcomed by any lth's still alive after all the years of dwindling prospects for their investment.
It does seem very much of 'too little too late' however welcome some 'return' will be made here (on basis it completes as outlined).
Whilst I sold out at considerable loss a while back, I do wish any remaining shareholders all the very best. This has been a shameful exercise in the plethora of 'risks' associated with an AIM investment. In addition to the obvious geo-political risks are those that appear to border close to criminal and at the very least unethical; we have witnessed most!
B
There's so much 'nervousness' (in the wider Markets, be they stock, bond or capital/money itself) around Banks and Finance dependent businesses that's never come close to being truly assuaged since 2008.
In my recent post below, imo its greatly exaggerated by the many 'players' in the Market who make firtunes from instability and volatility. The long term investors, again imo, suffer increasingly with every year that passes.
It truly is hard to believe that in the UK at least, the Bank's etc were once considered so safe that they were known as 'widows and orphans' stocks. Quite a change in 30 years or so.
So I think we can expect some serious volatility in the near future as Central Banks wake up to impact caused by so many years of cheap money has wrought. Too many commentators focused on the domestic or retail markets seemingly losing sight of some Banks changing their entire business structure.
Deutsch Bank have been on a roller coaster coming close to disaster around 2008 and a couple of times since. Their latest turnarounds have been underwritten by Investment bank growth which is proving illusionary in terms of profit sustainability.
PS apologies for my last post where my painful experiences somehow mixed up Enron when it should have course been Lehmans...only excuse is a bit too much alcohol!
With the latest Domino to fall in this (so far) latest mini global financial crash, the panic merchants and gamblers which dominate worldwide stock and bond markets will ensure more losses appear against just about any entity remotely connected to finance/banking in the coming days/weeks. Needless to say, British Banks will likely not escape irrespective of the perceived capital strength etc.
And that for me really is the 'rub' here. It's not that necessarily, institutions which fail deserve to. Just as a revisit to 2008 would disclose that Enron should have been shored up if, for no other reason, but to protect other institutions which then became casualties.
Today is no different I suspect. I am not privvy to the internal Management Accounts pertaining to the distressed/rescued Banks, but any concerted 'run' on a bank will quickly challenge its (Central Bank) imposed liquidity ratios which in turn quickly push distress toward (credit) ratings and gradings being challenged and then downgraded. In this relatively short time, capital adequacy becomes academic.
Yes, banking IS that fragile if enough shorters/hedge funds and other gamblers set off a wider panic among a Bank's customers (and these can of course include sovereign exposure, other banks etc) and that's before the wonderfully expert media spread their sensationalist headlines.
I believe NWG are as well placed, if not better, than any UK bank from a number of perspectives, so hopefully the 2008 crash is not repeated and the many people who lost jobs/cash/both etc who lost out needlessly will not see a repeat this time around.
Central Banks/Governments have both played significant roles in creating today's banking issues but, as always, these simply provide the gamblers with the chips to play with. The notion of an open, free market is a fallacy.
After that.....let's hope for better days for our investment!
Having got the Bondholders off our backs, I am really staggered that this 'offer' represents best value to shareholders.
The discount to recent SP coupled with the deferred payment of the bulk of the agreed consideration, itself contingent upon factors totally outside of Hur's control smacks of deal more reminiscent of a distressed sale.
If this deal manages to complete, withbthe conflicts of interest jumping out everywhere, then AIM is a disgrace that merits being closed down.
You are right m1n3r........l.but, at least it's a nice shade of blue for a change.
Russia's announced production cut this morning is almost certainly a sign of their future intention to disrupt the oil market in retaliation to the West's previous price cap etc. on Russia's Black stuff.
Of course, what they say and what they actually do, are likely to be entirely different things but if they get the expected result in the price of oil (ie increase), they are likely to play all sorts of further games in future.
That, coupled with any big gains from their latest Ukraine offensive, if achieved, are only going to push oil prices strongly upwards.
Like many, I'm invested here simply because of the (previous) high yield and whilst such stocks always carry a significant threat to such high payouts, cancellation of the Dividend outright is a fairly Draconian step, particularly in the absence of previous assurances over its future payment etc.
DLG, in my view, have long lost their competitive advantage on cost derived from their original business model and now seem a bit lost in terms of where the Group is headed.
That, of course, is also indicative of the poor Executive leadership/management which has clearly not anticipated nor modelled, it seems, higher sustained levels of claims and, no doubt, increased pressure on customers ability to pay, be they business or private individual.
What the Market desperately needs, is a realistic road map setting out clearly how this Group can restore its separate businesses to profit. A big 'ask' I appreciate.
However, in the current competitive insurance market whee costs are spiralling like an Octopus with 10 legs, I will take some convincing even with radical change in Leadrship.
I don't want to crystallise a large book loss on this share, but I may have to as the only other alternative in such market conditions, is consolidation with another player. And before we get too excited, that is unlikely to be at a huge premium to today's SP.
So for the foreseeable future, the SP will languish in the absence of any realistic chance the Dividend will be restored etc.
All in my opinion of course......GLA.
@dflynch - totally agree with your post. A previous 'upgrade' in II's website was partially reversed following customer complaints.
From my perspective, it's a fairly rubbish 'improvement' anyway as my losses are still all showing!
With a 'product' that has been (rightly) tested across the world and received acclaim for the accuracy and reliability of its test results in a plethora of circumstances way beyond Parsortix's objectives, its worth in medical research, analysis and ultimately alongside patient treatment profiles will be well known within the pharma sector.
For me, the test at this stage in Angle's evolution, is now based purely on its commercial skills to leverage its undoubted medical success. This is the point so many small and medium sized pharma companies in particular come to grief.
Partnerships, licence tie-ins etc are the natural way forward for a company that wishes to retain its independence.
They have a relatively small window to achieve at least a measure of success in these discussions to demonstrate to the Market their planned Business model is deliverable. The Company do not need cash imminently when looking at their historic cash burn, although a major Partnership announcement could alter matters despite the obvious notion that the other Partner will be cash rich etc.
I have increased my holding and view recent SP levels to be a very good entry point. I would however concede at this stage in Angle's development it remains not without risk.
GLA.
B
I have clearly been asleep at the wheel with this one - I must have missed the Profit Warning to the Market.
These are deplorable results on the back of increased competition and a SHORT period of adverse weather conditions (we are after all jot even mid way through winter).
Cancellation of the Interim and Final dividends sends a clear message to the Market and consequently recovery of the SP is likely to be slow and erratic. Lower costs are an isolated 'plus', but the impact these may have on any attempts to recover profitable business is a big unknown.
The hedge of commercial property has been a negative almost since the 2008 financial crash.
I won't be buying further as I see not only poor management but a business model adrift with few indicators on how any material improvement can be achieved.
Sorry to all PIs involved with this investment - its ironic it shares more characteristics with some of my AIM holdings than I would have thought possible.
I think, in truth, just about every PI will have some reservations over this whole bid situation.
Normally, in such circumstances, posters are blindly quoting all sorts of ridiculous buy out levels of SP, but so many investors have already been severely burned regardless of the eventual purchase price, quite apart from our views of the BoD members mentioned so frequently, I think most investors are taking a very cool, hard nosed approach to proceedings here.
And, as I said, with considerable justification.
Thanks for your post, Warsaw. It was certainly unusual to take 4 hours to sell a few hundred shares.
Still not cleared luckylurker, so I guess you might be right on the investigation aspect!
I'll contact II as clearly its more likely to be a computer issue etc as the proposed transaction was very small beer in the scheme of things.
I'm not aware if any specific NWG news that may have caused the slight dip in SP this morning.
Cheers.
B
Attempted to sell a very, very modest number of shares this morning and its gone to NT.......
Maybe the transaction is just too small to be bothered with, but this issue is not something I recall encountering with this share in almost 40 years+ of holding RBS/NWG.
I think most of us who have invested in (or should I say , taken a punt in) a mining co prospecting for gold, is well aware that its a high risk adventure at the best of times.
Here with WSBN they are certainly looking in the right area and whilst this is of course no guarantee of success, they have significantly reduced the odds aided by the process being conducted in a stable political environment where the value of Resources/mining is both understood and welcomed.
To me however, the key factor must be the proximity to Newcrest and their processing plant and infrastructure. I am invested in GGP so aware of their jv etc and the issues arising.
But so often with gold explorers it is finding the mineral resource first and then thinking how on earth are they going to fund its extraction to obtain their payback etc. Despite finding significant mineralisation, many mining Co's have never been able to fund its extraction.
IMO, provided the already established mineralisation at Red Setter can be shown to be evident across larger and conjoined parts of WSBN's acreage, then there will be a deal to be done with Newcrest, irrespective of their tie-up with GGP.
Now to me that puts an entirely different slant on this investment when comparisons are drawn with explorers in Central America, Africa etc. or in so many parts of the world where gold (and/or copper) resources are being targeted.
All known facts I concede, but worth revisiting when appraising the Market reaction to Red Setters first assays.
I have to say I agree with you Daltry.
Clearly, CA are acting in their own interests and we can only speculate as to what their full agenda is, but one thing is certain. PIs will have to look after themselves and rid ourselves of the charitable notion that somehow CA are riding to our rescue.
Yet again, PIs are left on the 'outside' scrambling to get a glimpse of what is really happening behind closed doors.
99problems - I don't think you will find many existing holders in HUR, be they long or short term, disagreeing with you.
I guess the only puzzle for many of us, is just why the wider market hasn't wakened up to our position.
Regardless, I believe our time has finally come and all that searching down the back of the sofa has given me enough for another (very) modest addition to my own holding tomorrow.
Ulster Bank was a joke long before 2017 (mentioned). Unfortunately, this situation was ignored firstly by NatWest and then it took RBS far too long to wake up to the situation when it acquired the English Bank.
In some ways, it was symptomatic of banking in N Ireland in particular where 'over banking' lead banks in a chase with each other to the bottom in an effort to retain market share far less grow it.
As many will say, it doesn't matter, it couldn't happen today. Well it could, because what passes for Due Diligence, audit and process these says is hardly worth the bother.
And don't even suggest Accountant's investigative analyses of a potential or actual target co would make a difference as they often understand the businesses to be analysed even kess than their paymasters.
And Dinoken, none of the foregoing is in any way aimed at you!
The whole gamut of risks associated with Hur have been described on this bb much more eloquently than I can manage and whilst, understandably, debate has focused on the upside potential of the SP, there are not many shares on AIM where the downside risk to any investment is effectively de-risked (barring catastrophe etc).
I've already topped up and am scrambling about downstream back of the sofa for any loose change for a further (very modest) purchase in my attempts to average down.
I am determined to make even a modest /tiny profit on my holding one day which I will regard as a great victory of sorts after all this Co (or should I say, its investors) has/have been through
I guess my over-riding thought on today's news, is that what we all thought should really be happening with Hur (given all the plusses well documented on this bb), is finally starting to actually happen.
I know I was not alone in being puzzled by the lack of Corporate activity surrounding our Co., so it's a relief its finally now in evidence.
You really cant begrudge the many lth's a brief moment in the sun!