Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Very good post, IPC66.
I'm struggling with the notion that they would NOT pay the special dividend of 20p and have allowed the house broker to put the rumour out there? Just seems way too bizarre if it were so...no-one would trust the paper they were printed on in the future and that is surely not the intention. All will be revealed Tuesday. The wording of the TU says that considering a 'significant' increase to the dividend is 'part' of the CAP, so further endorsement there.
Nearly 80 odd jobs currently on the site nationwide suggests they have ample set aside for the growth of the business as well.
19th - 22nd is then pitching to II's, HNWI etc, so something for everyone it seems...
Good luck all faithful long-termers and best wishes.
Plus this from SP Angel in their latest February note:-
'With a cash rich, debt free balance sheet, Yu Group is in a position to consider how
to optimally allocate its capital base. We believe this could include M&A
activity and other growth initiatives, but also cash returns to shareholders. '
Sounds like the logical conclusion there, ipc.
(I was in IAG when that situation occurred. They paid the special as cash was there, luckily before COVID did the rest).
It does provide clarity going forward for when they approach II's on the road afterwards.
Some TR-1's late March/early April and a main listing would be acceptable!
Have to agree with you there - if it doesn't happen now, there will be a disappointing reaction on the day. Once again I have to wonder why they would come out with it off their own bat...
What would they do with the cash otherwise? £62M is already ample for growth ambitions surely. Plus Q1 revenue incoming.
Definitely. I would be very surprised if Liberum would put out a £20M special dividend speculation rumour on their own without any guidance from the BOD...
Therefore, a no-brainer to hold steady. Where else is better atm!
As correctly pointed out earlier, it's actually a bit on the light side with £62M available after the buffer!
Could do with an 'off AIM' RNS into the mix as well.
GLA.
Agreed - I remember NG saying a few months back even that they had got some big names on board and a domino effect could now occur with this Shell tie-up in place.
Very exciting and fair play to them. Reaping some well- deserved success now the groundwork is accomplished.
I guess that's why they now also have loads of vacancies to expand with all that extra cash on top salaries.
It's still sinking in here how huge this is.
62 million of spare cash for distribution after the 20 million buffer...
20 million special speculated is approx £1.19/share - wouldn't II's be all over this next week and beyond IMHO. Can't see where else you could get such growth potential with a juicy roi like that.
They're pitching to II's 19-22 March...
Ideal scenario is they take up a decent chunk of the free float to prevent any more repetitive trader action.
As BK stated he was frustrated with the sp action, this could be him addressing it with great figures/hefty divi increase behind him.
That's why I'm taking it as positive news that the CEO/CFO are going out to meet potential new II's after the FY results are announced. It would certainly be very interesting if they came in and took significant stakes after meeting the Board members and seeing the story unfold. It would have the extra benefit of placing more stock into sticky hands thus making those regular games we keep seeing far more difficult.
(Thanks again to New Gacky for providing that info some time back).