Funding concern8 Feb 2024 09:26
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?