Member Info for Fyoz

"I agree it’s not nice to see it lower even though we know we are in a good position generally"

Look on the bright side, it's another half a million shaes in the ISA if stays around this SP

"The trial is expected to start early Q2 which is 2 or 3 months away"

Q2 is 6.5 weeks away, still why bother with a small thing like accuracy when you're spreading FUD

"And each prior time the trolls tried to bury it under a string of BS posts."

Says the guy that's posted 269 times in 30 days on QED alone. That's approx 12 per trading day

You're burying your own posts you turnip!

"I... suppose. But buying pressure (AKA demand) is created by positive news."

Doesn't have to be 'new' news though, new buyers being swayed by old news will do the same

"We won't see 5 until the next RNS IMO"

Buying pressure pushes up the SP not RNS's, if someone decided to buy 100m shares the price would go up regardless of news

"It doesn't require us to be plastered on billboards or known to end consumers"

Bang on, I'll settle for us being for marine fuels & power generation what ARM is to smartphones

"Imagine if the Maersk contract had been written sloppily and we'd ended up in a situation where they decided not to test or use MSAR but still got a "marketing" cut of our sales."

I stand to be corrected but isn't a contract only legally enforcible if it's mutually beneficial to both parties?

Sorry but I need to respond to this:-

"taking what YOU could just afford would have made the raise on those terms an abject failure!"

Rights issue's are usually underwritten by a financial institution, and seeing as the placing was 1.5x oversubscribed, at 3p there's no way it would have been a failure

Newbies might regard me as a winger. LTH's may remember I've been (and remain) a staunch supporter of the BoD. 'blind follower' and 'sycophant' being some of the names levelled at me in the past on this forum, who cares, it's all anonymous opinion & conjecture anyway. However,21 recs for my 'rights issue' suggestion showed a decent level of support that it wasn't such a barmy idea, but while the vast majority can take part in the retail offer,the boat won't get rocked. Roll on Friday when it's all done and dusted, and we can get back to discussing the massive opportunities looming large. End of from me on this topic

"There should be exams before people can invest."

Nobody suggested that on all the previous occasions when we were propping up the company finances

Kindly explain how an exam 12 years ago would have helped me to select a broker that would be participating in this raise

"Every method they could have chosen has potential winners and losers"

The only losers in a rights issue are non-holders hoping to get in cheap

I'm sure VBL is an asset to the company, I'm not questioning her credentials, just the fairness of the fundraise

My mistake DoN and thank you for the correction. So she has managed to increase her holding by 104%, while many of us are getting diluted by 9%.

Nice for her

Cheap warrants next while the SP is low

my last post on the subject, so feel free to **** me off, i don't care, i'm done with this fiasco now

i think vbl realised she'd screwed up by ducking out of the fundraise last march, and somehow persuaded the bod to let her have a tranche of cheap subscription shares. the broker also advised the bod that they should try to get more ii's on the register, so they decided to do a quick placing at mates rates. but they also have to throw the pi's a bone, so they allow the 'real' shareholders a chance to scrap it out for about a fifth of the placing allocation. and, who cares that about 20% of holders will have no chance of taking part, because they've gone for the cheapest method. ah well never mind, tough luck for being with the wrong nominee

so what would i have done in their shoes? i'd have shown some real backbone, by respecting and rewarding the lth's who've had their hopes raised and dashed over the years, and yet still supported the company through all those bad times. i'd have done a good old fashioned rights issue. a 'one for every ten held' offer would have raised the same amount, and at 3p it could have been fully underwritten by an ii if necessary, although i think it would have been oversubscribed, given the 50% discount to the sp at the time. and yes i'm aware that the fees would have been higher, but so what, that's how you reward shareholder loyalty, instead of this debacle

Enough with Barclays now for me. They claim to be a professional international banking organisation, but they froze my investment account after Brexit, because I was living in Spain. They actually did close my current account. When I returned to the UK I applied to open an ISA. They insisted on an ID check, so I took my passport and driving licence into the main Manchester branch, and was assured everything was fine. Guess what? The investment arm wouldn't accept it. They only accept original documents mailed into their verification team. The bank management got involved, and they couldn't even phone or email the verification office. I then requested to transfer my holdings to IG (who I'd opened a trading account with in minutes), and they confirmed I could, but it would take about a month. I had no choice but to send in my documents, and they forgot to return my driving licence! Everything about the way they operate has made me finally realise they don't want private investors, or at least their actions suggest they don't. I'll now start looking for a decent broker to switch to

If they go for the £2m retail offer (which I suspect they will) the dilution will be 12.4% for those that don't/can't take part

151m placing shares plus 66.67m retail offer = 217.67m divided by 1.76b currently = 12.4%

"Crabs in a barrel mentality — if I can't have it, nobody should."

Show me where I said that?

My argument is that ALL holders should be able to partake. Once the BoD and Shore became aware that certain brokers (Barclays alone control 5.34%) were not facilitating, a more inclusive method should have been arranged

I won't hold my breath waiting for your apology

"Fyoz, no one can know they have got the allocation they applied for yet."

I can, a big fat zero

Still, more for you guys eh?

"Your argument is with Barclays surely?!"

No, because the BoD and Shore Capital decided to do a book build instead of an open offer

"We have to do it quickly, an open offer takes a month"

It doesn't have to be done quickly though. The price is fixed, the maximum number of shares is fixed. If they wanted a fair and equitable chance for all shareholders to take part they could have done an open offer. I've taken part in all of the previous raises, when the company really needed a us to dig deep. At the raise in March 24, VBL didn't cough up a single quid, probably still too risky back then. And now, she can throw in £25k for half-price shares, and LTH's like me and many others are excluded. Disgraceful way to treat the PI's

"Really? Oh dear."

Did you come up with that all by yourself?