Member Info for Fyoz

You think so little of the man yet you chose to stay in when it suspended, quite bizarre

millie99 "seems to me if its a no , GW will be struggling , well out of pocket with all the costs of this so far , and forced to come back however long it may take with a better offer , i,m voting no deal"

The costs for this will come out of INFT coffers, it's INFT company business not GW's, yet another reason to vote it through and have as much cash left for operating expenses, and not let it all get burnt through on future attempts to re-list

You're making my point for me, if he issued the shares at 0.2p and they opened at 0.1p he'd be £5 million up

Work it out . . .

Well said ismalia

He converted his loan note at a higher strike price than the SP at the time:-

On 5 April 2017, Mr G L Williams, a Director and Shareholder of the Company, converted his convertible loan totalling £480,000 into new ordinary shares in the Company at a conversion rate of £0.0013, equating to 369,230,769 new ordinary shares. The shares were issued at an amount higher than the par value of the Company's shares at that time of GBP 0.001090 per share.

And now he's taking his payment for 26% of Transgas in INFT shares at 0.4p, 2.85 times the closing SP, hardly the work of someone just feathering his own nest

That's not a sensible explanation

He could have set the strike price at 0.2p and made INFT issue twice as many shares

OK last go from me to restore reason

If GW is out to shaft us all, why is he taking his consideration shares at 0.4p? The closing price at suspension was 0.14p so why, if he's going to turn us all over, is he now giving us a 65% discount?

Answer that with a sensible explanation if you can

Silvercoin

I think you're being a bit selective with your quotes, yes the winding up of the company was mentioned, but as a consequence of the open offer not being successful, OR, not being able to source alternative financing. In fact the open offer was chosen at the request of existing shareholders. I think we're partnered with some excellent organisations now, and I doubt they'd let QFI go to the wall should they require a bit more funding to achieve commercialisation. Modifying refineries is a very lengthy process, can take years of planning and needs to be scheduled with pre-determined shut-downs. We may already be some way along that process and if so, probably subject to all kinds of NDA's. I don't know at what stage they'd be obligated to inform shareholders, but Mike Kirk has gone on record as saying 2019 will be the year that Quadrise delivers on it's potential (or words to that effect). I guess it all come down to trust. If he now feels it's the right time for him and his fellow directors to recoup their deferred salaries, then I for one am fully expecting him to announce at least one decent contract before the end of this year. GLA

The Directors, whose names appear on page 16 and the Company accept responsibility for the information contained in this Circular. To the best of the knowledge of the Directors and the Company (who have taken all reasonable care to ensure that such is the case), the information contained in this Circular is in accordance with the facts and contains no omission likely to affect its import.
Certain information in relation to the Company has been incorporated by reference into this Circular. You should refer to the part of this Circular headed ‘Relevant Documentation and Incorporation by Reference’ which can be found on page 15 of this Circular.
This Circular is dated: 20th March 2019
The Independent Directors consider that the Proposals are in the best interests of Shareholders and accordingly recommend Shareholders to vote in favour of the Resolutions

Taken directly from the circular:-

'The purposes of the Proposals are to re-establish a public market for trading in the Company's Ordinary Shares, to commence the acquisition and development by the Company of an oil and gas business which fits within the experience and expertise of your Board and to seek to deliver positive returns for Shareholders on their investment in Ordinary Shares.
The Directors have considered various alternative proposals and courses of action during this period, but have concluded that the following proposals are, in the Board's opinion, in the best interests of Shareholders and most likely to deliver the objectives set out above'

"QFI just needs a revenue contract soon it really is as simple as that."

Not true, they can arrange alternative financing before they announce a contract. I presume they would need to show the financier strong evidence that the company is going to survive and be able to repay it's commitments

ttaa

These are copied exactly from some of your recent posts. You are entitled to your opinion but some of the things you're saying as fact are not yet known. I am entitled to rebut your comments and protect my investment by pointing out your errors and inconsistencies. i don't understand your agenda considering you say you have a lot invested in this. Gerwyn has stated he will not proceed unless the resolutions are passed. He has other options to develop HIS licences, I'm assuming this method is the quickest, cheapest, easiest option for him, and it's the only one that gives us a return on our investment. If you don't think the troll comment applies to you then I politely suggest you stop behaving like one

"By the time GW has finished the shares in the company will be 6,300,000,000 divide that by the value of 26% of Transgas £10,740,188 and we get each share worth .0017p"

"I think we will never see any hydrocarbons from him."

" I will be out of here ASAP the guy is a control freak fantasist from what I can see"

"You will NOT get a bag out of this share, you will get your money returned when it works out in the wash IMHO"

"I have no faith in him being able to bring a drill to the PEDL's before the licences lapse. The guy is a complete fantasist "

"I think he will dilute INFT further before he gives away any more transgasI think he will dilute INFT further before he gives away any more transgas"

Can I urge all the rational holders on here to join the twitter group. It seems some on here are either deluded as to their expectations or just making mischief. The twitter group has more detailed info and trolls are excluded. See cavemanic's post a couple of pages back for how to join

Err, you think he's going to do it all by himself?

Have you looked at the wealth of experience the other board members possess?

Misleading again ttaa

If he issues another 1.9bn shares (as you say he will) at 0.4p then it will raise £7.6m which will add to the MC and not dilute the SP

You are becoming comical

" I think we should go back and say we are not happy to give up all rights and he needs to think again."

You have lost the plot

This resolution is granting Gerwyn a waiver to not have to make a bid for the whole company. Under UK law once an individual holder reaches 30% they have to make an offer for the whole company. This is for us to give permission for Gerwyn to not have to buy us all out

Next . . .

ttaa "I understand now why the circular is hush hush and not on the website until they have a clear indication that the votes required have been logged to allow it to pass, as soon as a professional claps eyes on this it will get torn apart"

Now you're being deliberately misleading as you posted yesterday that they do intend to put it on the website (extract from your own post):-

'Infinity Energy does intend to upload the information to its website, however, the Company was waiting until the documentation had been dispatched and received by the majority of direct shareholders and Depositary Interest holders.'

"The rule is there to protect us as share holder."

Shareholder of what? Nada yet . . .

"The problem id Fyoz if we vote for this it's our last ever vote we hand all votes and the majority share to GW, we have no say after that at all."

We have no say if we don't re-list. Personally I'd rather be part of something that may return a profit, than be locked out again just because I think someone's getting a better deal than me

ttaa "Yeah Fyoz, either way we are not too far off each others maths, £20 million MC would be acceptable return for the wait for me if that gives us a bag to a bag and a half."

So in December you were happy with getting double back but today you're not

Why?

The choice we're faced with is either vote the resolutions in and get on with the listing process, come back to market and then decide if we want to stay in or not. Or, vote against (or abstain), the resolutions aren't passed, we don't re-list and we stay locked out of our funds

I really don't understand your reticence here ttaa, we have the chance to be part of something that could be very profitable, or at least get our money back