Member Info for Fyoz

Publication of this Circular
20th March 2019

Application for Waiver
By 31st March 2019

General Meeting of Shareholders
25th April 2019

Completion of Proposed Migration
By 25th May 2019

Publication of prospectus relating to the Proposed Admission
As soon as practicable following completion of the Proposed Migration

Completion of Proposed Acquisition and Proposed Admission
As soon as practicable following completion of the Proposed Migration

I'm choosing the latter option Prep, I just can't see them running off the edge of the cliff now after steering us through such a precarious few months. Professional reputations would be in tatters etc, and Hemant has more to lose than any of us

Come on guys, let's keep it real. The only thing of value here are the licences. INFT don't have them, Transgas does, ie Gerwyn owns them. He's using INFT as a vehicle to develop them in a listed company, and for that we're getting 26% of Transgas. He could have decided to do a brand new IPO and let INFT go to the wall. OK that would have damaged his reputation but it would probably have been possible. INFT has nothing at the moment except around £500k in cash (I think) and the corporate structure to enable a quicker, easier listing. It look's to me like we'll initially list at around double our previous SP, which sounds about right for being locked out of our funds for so long

When it comes back we'll all have to make our own choices as to whether to sell or stay or even buy more. If the reserves are high as the circular suggests, then this could be a great opportunity to be in at the start of what could be a very big ride

To suggest we're being shafted seems a bit churlish to me

Yes, if the Transgas valuation of £41.3m is accepted as fair

Transgas still need to raise funds to develop the assets or farm them out, so it will be interesting to see how that unfolds. If they need £10m operating cash he'll need to sell another 25% or so of Transgas. But if there's really 200m barrels of conventional oil that sounds cheap to me

Kind of agree with you te1970, but as yet we don't know what SP we'll re-list at. 0.4p is being used to calculate how many shares to issue to Gerwyn for 26% of Transgas, valuing Transgas theoretically at £41.3m. The SP of INFT probably won't start of at 0.4p though because the new combined shares in issue will be about 4.44bn, so on that basis our SP will be about 0.22p (if £41.3m for Transgas is right)

Let's vote for the resolutions though and at least get back in the game

Ryan on twitter has nailed this

Gerwyn is taking INFT shares for the 26% of Transgas, not cash

If INFT isn't successful then he's lost a huge amount. Those saying he's being greedy should think about that. He is risking far more than any of us who just bought into the cash shell

'So if agreed there would be 4439080877 shares in INFT at .004p = £17.75 million valuation on 26%. Which would mean transgas is valued at £68 million not 341.3 million....is that right?'

No ttaa

Transgas is being valued at £41,3m for the purpose of determining how many new shares to give Gerwyn for the 26%. Transgas will remain a private company, and INFT will be valued on what the market thinks Transgas is REALLY worth. So if the real value of Transgas is perceived to be £100m, then our MC becomes £26m and the SP would rise to about 0.58p. If the valuation of Transgas is considered to be lower then our SP will fall as a result

That's my take on it anyway

'Fyoz if this did happen to open at .1 which no one knows what will happen were well out pocket, and gerwyn still pockets 2.5 million that's how one sided it is'

Of course it's heavily skewed in his favour, he has the licences. He owns Transgas, and if there are 200m barrels of conventional oil in the licences and possibly billions of unconventional, he's not going to just give it away for naff all, and let us reap the same percentage rewards just for buying into the cash shell

At the moment we have shares in a de-listed company, that was previously a £2.4m cash shell. We're now looking at coming back to the market with 26% of an oil and gas explorer, and we're likely to profit by around 3 times what we put in. And some of you are calling Gerwyn greedy?

Think about it people

I think we have to accept the valuation in order to progress

If my shares end up being worth 0.4p I'll gladly vote for those resolutions

I think you have that right ttaa

Presumably if the resolutions are not approved we're back to square one and likely to lose our investment?

I think you'r a decimal place short there pi, strike price for the new shares is 0.4p so £4000 per million shares

Do us all a favour and take your over-inflated ego to a bb where they actually listen to you

Barclays aren't aware of the action yet but you can contact them and choose to be set up for email alerts, so that when they have it on their system it will automatically send you an email alert

I believe so ttaa, seems to know what's going on

From Ryan on Twitter:-

'Relist looks like end of May'

Allegedly from the CPR:-

200m barrels conventional plus new prospects to come at Bognor

7bn barrels unconventional based on 50ft thickness but the true thickness could be 350ft

From Ryan (7% holder) on #INFT twitter group. Suggest you join, see cavemanic's post further down this page

I think we closed at about 0.14p so that will do me for starters

Oh dear, better re-think that Rob1967

'Swiss roofs could produce over 80% of the nation’s electricity'

https://lenews.ch/2019/01/30/swiss-roofs-could-produce-over-80-of-the-nations-electricity/