Member Info for Daz9643

FCI, out of the 10 or so questions that were asked prior to the private AGM, 3 of them were mine, not a single one was answered other than saying they won’t answer it, I’m not sure any of them were answered satisfactorily. AFC have zero respect for small PIs, they show this time and time again.

You think that's odd Anneowl, Tom Pollard was General Manager of Rolec EV, yet AFC have employed him as national EV sales manager. In my experience good sales people are very good at selling, you can't just stick a general manager in a sales position and think that's the same because it isn't. I also hope that AFC haven't taken on Gerry Agnew simply because he once worked at Rolls Royce, I've seen this before, management go gaga seeing that on a cv without checking previous performance.

Here's a good one FCI, David Hatherill and Mark Barnes were employed on the 14th August 2019 and not a single sale between them in nearly a year. Is this because they have nothing to sell, were they employed a year too early, when do they expect to sell something, how long will AFC continue to pay salespeople (now 3 salespeople) when they don't sell anything ?

Southerhay, if rivals can use pure hydrogen and it’s cost competitive for them then when hydrogen is being transported in much larger volumes through the gas network they will benefit even more while AFC are driving tankers of ammonia around the country. Just my opinion as to why we are not benefitted from the big rises in share prices of our competitors

CEO blog May 20th 2019

By enabling its fuel cells to accept a lower grade, and lower cost, hydrogen derived from ammonia, AFC Energy will be able to deliver cost-effective hydrogen solutions without compromising the performance of the fuel cells.

Except Phatstyle, AFC have already told us they are not competitive running on hydrogen unless it’s free hydrogen, ie being flared, AFC are part of the ammonia revolution

Patience Tillyhoney LOL, would be crazy to buy in the open market now with a 20% dilution about to hit any time, hopefully once the new shares are issued to the market then we will see a nice sustained rise along with NEWS, not radio SILENCE

Banana, not many people will need to fully charge their car every day, the talk on here is comparing filling a petrol car at a petrol station where most people would fill the tank from a low level but the reality of charging electric vehicles at home would be drivers topping up after a trip out so vastly different demand on the local grid

De Nora are already partners of AFC, surely everyone knows this already, it’s on the AFC website under ‘partners’.
From the RNS -
The Directors have concluded that proceeding with the Fundraising is the most suitable option available to the Company for raising additional funds through the issue of new Ordinary Shares and that issuing the new Ordinary Shares at a discount is fair and reasonable so far as all existing Shareholders are concerned.
For me personally if it’s De Nora who are making the £30m investment then yes I would agree at a discount is fair and reasonable, if it’s another of ABs mates who approached him after a roadshow then no it’s definitely not fair and reasonable

Auto Express article which is on the 'News' section of the AFC website - from 17th January 2019 !!!

AFC is currently in talks with a number of potential partners, and says it will be able to begin rolling the chargers out by the end of this year if a deal is struck soon.
The company does not currently envisage CH2ARGE as something for EV owners to have at home. The intention is for the chargers to be installed at motorway service stations, supermarkets, stadiums and other retail environments.

apologies to last post, it does mention system deployment which by definition would be systems on the shelf

A few points to note from the last RNS, AB's comments at the end -

"We are delighted to be announcing today a significant strengthening of AFC Energy's balance sheet with growth capital from several leading institutions new to the Company's register. AFC Energy's business plan is focussed on supporting aspirations for a clean and zero emission society through the use of Hydrogen, and with support from our new and existing shareholders, today's raise will further support delivery of our business plan and eventual break even position.

"Today's raise will enable AFC Energy for the first time to make material inroads into the scaling up of our manufacturing capability, our internal staffing and system deployment, further demonstrating the underlying strength in the Company's position within the wider Hydrogen economy. We also expect the raise to support our credentials in future industrial and strategic partnering which could provide the basis for a transformational underpinning of the business today and into the future."

I believe this is the first time break even has been mentioned although it does say this fundraising will help get the company towards break even, it doesn't say when or how much more investment is needed but usually when a company states there may be further fundraises you can guarantee there will be and always to the maximum allowable. AB's statement also doesn't mention manufacturing units to put on the shelf, it only mentions it will part fund increasing manufacturing capability.

Mucksy, it's not because of supply and demand, it's because the value of the company is then divided by a larger number of shares in issue.

drop another 20% yellow

and the placing shares haven't even been issued to the market yet

Has the market reacted well to this fundraise ? The SP dropped massively yesterday and down again today.

Once again the issue of trust with AFC arises, fantastic....

RB what really smarts is that everything we have previously been told has been fiction.
We've previously been told we have manufacturing capacity to deal with order enquiries.
We've been told we've raised money to see us through the pandemic. It wasn't that long ago we were told the 160kW version wasn't going to be built to preserve cash, how short sighted is that when this fundraise would already have been worked on ? At least this latest RNS says it will be used to pay salaries which none of the previous ones have.

I'm guessing the leading institutions will be people like Barclays, funds investing other peoples money, not companies investing for cooperation with AFC or for their long term future, we will see.

I thought we’d already had a placing to fund scaling up of manufacturing, as with previous placing we all know they were really to pay the wages but embellished to make them more digestible to shareholders. There really are no more excuses for failure, this is it.