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I always thought that the BoD's exit strategy was that we'd be bought out by an oil major, once we'd proven the market was there for our fuel. But Cargill coming out of left field could just have put a completely different spin on the situation. Now I can't help thinking we're a perfect acquisition for them. We offer so much to their existing operations, let alone what licencing out our process can add to their revenue stream
My big concern now, is that they must know the cheapest option is to acquire us asap. Like now, before we gain some traction with Morocco and Utah, which will only push the SP up, and with it our price tag. And before I get reminded that the majority of our shares are in PI hands, many of whom have held for over a decade (myself included), are we now at risk of giving the shop away? What if Cargill are going to fund us, and take say a 10% stake for about #4m. How many more shares would they need to secure before making a predatory bid? I believe it used to be 30% before they can then make an offer for the remaining shares. So how difficult would it be for them to obtain 20% by stealth? Yes I know that they would be obliged to notify the market along the way, but this is the AIM casino, and they're a private family business, so I'm sure there are ways of hiding their true ownership. I guess the point I'm trying to make is that those hoping for a quick placing instead of an open offer, should consider that it's also of equal importance exactly where the money comes from. Our friends and partners now, might not continue to be so
And if all that sounds a bit paranoid, it doesn't mean they're NOT out to get us
Now, who's for an open offer instead?
"Cargill's involvement in ship bunkering is part of its broader shipping and logistics operations. The company is one of the largest charterers of dry bulk and tanker vessels globally"
Wikipedia
Today, the world's bulk carrier fleet includes 6,225 ships of over 10,000 DWT, and represent 40% of all ships in terms of tonnage and 39.4% in terms of vessels.
Box carriers are important to us, but tapping into the bulk carrier market is the mother lode
A very good post Cityfile
Also, box carriers are in a minority when looking at the global merchant fleet. Over 50,000 vessels in operation, and our fuel will be a 'drop in replacement' for practically all of them. When you start to think of it in those terms, the potential is truly mind boggling. And that is just the marine sector . . .
"There's absolutely no need to waste money and time organising an open offer for a measly £2m when a placing can be done in days at a small discount and around 5% dilution."
Well considering PI's own the majority of the company I'd say it's ours to waste if we want to partake in a fund raise. Which would also negate any further dilution for those taking up their allocation. Surely the LTH's deserve a chance to help our company get finally over the finish line?
And you're still wrong about the warrants
"and warrants don't make things any more bullish."
Yes they do, because if the company finally comes good, you get the opportunity to acquire a guaranteed amount of additional shares at a good discount. Making it more attractive than buying in the open market
"Zero chance of an open offer. Listen to what JM said at the last Investor Meet Company meeting, he admits the open offer failed, that we all make mistakes, and that "you live and learn", which is clearly saying to me that he won't be doing another open offer."
Or, that they got the strike price wrong and didn't offer warrants as well, like they did in the past when all the raises were oversubscribed
An outstanding decision by the end of today even
Presumably, IF contracts were signed at say 3.30pm, an RNS could be issued anytime thereafter, before or even after the close of business? Unlikely to be today, but not beyond the realm of possibility
"we bet all on their hand, which has historically always proved to be a bluff."
I assume you mean they're not holding any decent cards? So you don't think Morocco has any value? MSC bought Leandra as an even bigger bluff? They don't really need MSAR to get the Utah oil to flow? Vertoro are stringing us along as well?
I would say it's nothing like any previous years, but if you can't see that . . .
"They have had it too easy over the years missing project milestones by incompetence "
What absolute nonsense, and the kind of empty headed rhetoric that clogs the board up when holders get twitchy. I think you'll find that any dates given by the BoD are 'guidance', with the exact date out of their control. It wasn't incompetence that Maersk pulled out, neither for that reason that KSA didn't materialise. All you doom mongers currently putting the boot in, I hope you hang your heads in shame when we finally get the the lawyers to sign off on the MSC contract
"some other retail investors could be scared off by some of the comments..."
Hmm, I've done my research, trawled through the RNS's, watched hours of interviews and investor presentations, and I've plucked up the courage to buy some QED shares, but bottle it at the last minute becasue I don't like the comments posted on (one of many) this bulletin board 🙄🤣
Come on Jason get the announcement made then we've got something sensible to discuss/fight over
" If we’re going to be a serious company taken seriously by the financial markets we should have a wide range of leveraged options going forward."
If we get MSC signed up to say 50 ships (to begin) plus say 2 plants in Morocco, we'll be generating enough profit that everyone will take us seriously. Even in 'licence mode' it's going to be like printing money
The dam is cracking . . .
"Did JM say this encouraging news OR did you post this news hmm. Assuming is different from fact or Just B/S"
Ignore, spends most of his time berating holders, posting stupid 2p predictions, brings nothing to the table, and what, he now wants the benefit of your work, couldn't make it up 🙄