Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Well, each to their own, but I just bought more. Too risky in my book to hope for a little less and content to wait for much more. GLA
Yes that’s why I posted. I reckon this has been going on for a good few days not just this morning (I.e buys being reported as sells). So, all good. This share is now so illiquid that any real buying pressure on news of more orders/revenue growth should result in a good uplift in sp, imo.
I agree that the outcome for 2022 is disappointing but like the prospects for 2023 and beyond. In retrospect, the company were too quick and over confident with their revenue potential claims for the big contracts announced from December 2021. The potential is still there and we now need to see some delivery during 2023, hopefully in H1.
Bushy,
With respect, I am of the firm view that you are labouring under a misconception if you think that the second tranche is destined for approval at the AGM in June. It says a general meeting, which is term applicable to any meeting of the whole shareholder base, and such meetings can be convened at any time. If it was going to the AGM they would, in my opinion have used the term AGM, which they did not. Furthermore, they say the relevant circular for the meeting will be issued “shortly”. There is no way that they would issue a circular “shortly” for the AGM in June. Personally, I don’t give a toss either way, because I regard the fund raise as a good thing, despite the dilution.
Quite. Also, whilst nobody likes dilution, judging by some of the comments, some folk seem to have missed that CIS is owned by the same principal as Coris bank and the fact that the subscription was actually at a small premium to the 30 day average (miles better than the massive discounts frequently seen on AIM or the death spiral convertible loans.
It’s worth remembering that the August subscription by Sea Pearl (owned by the daughter of the Chairman of our India joint venture partner Indorama) was at 18p (only a 5% discount at the time) with warrants at 25p. I reckon she knew what she was doing and will expect a decent return on the warrants, never mind the shares. The fact that the sp has drifted down on handfuls of sells by impatient PIs/traders is a reflection of the market rather than the company’s operational performance and those same dynamics will work in reverse to make this bounce back hard on good news imo. Impatient sellers will have to just watch or chase a significantly higher price when that happens. Personally, I am happy to stick it out. Don’t think I will have to wait long to be back in the black here. GLA