Member Info for Gdale1997

Simms45 I thought the exact same, however it does mention that the board was meeting today. I assume that Richard Bennett is still in the UK, therefore the meeting was likely held this morning UK time. So I am guessing that the results will be released on opening tomo?

TopMoney it would be good to have a greater understanding of the service contracts and what/if any that we currently have. I'm unsure if we receive a fee on maintenance for systems that we have built as it may be included in the initial contract when building the plants.

Regarding the Brazilian patent, it was published 14th April (see link). I believe it now goes through a process of Search and Examination before the patent is issued. The patent is currently going through this process in China for the same patent.
https://patents.google.com/patent/BR112019018873A2/en?oq=CN2019073107

I believe for the 2nd generation tech it is still in R&D and they are looking to initiate a pilot scheme which should take 18 months. This process definitely needs to be communicated to us, the development of such tech will solidify our strong market position and also provide another string to our bow.

It would be very interesting to hear about the Russian, Canadian, Thailand, Myanmar and Hungarian projects. ROW contracts make such a small percentage of our revenue, I wonder why we haven't expanded more into these jurisdictions. I would really like to see some geographic diversification to our revenue.

I hope that a dividend is issued, we have alot of cash after the past few years being profitable. However, I noticed that on the balance sheet around £12 million is labelled as Capital Reserve. "Sums allocated to a capital reserve are permanently invested and cannot be used to pay dividends to shareholders. They are earmarked for specific purposes, such as long-term projects, mitigating capital losses, or any other long-term contingencies." I believe these funds and the money raised on listing, will be used to allow us to fund the taking on of larger projects so I don't think we will see a dividend payment.

I hope the results on Tuesday provide us a greater insight to current and future operations, not just financials. If we get a lack luster report on Tuesday I will definitely be getting in contact with the BOD, this is a really promising company. However, currently shareholders are being kept in the dark which has been reflected by the SP.

In addition, to my research this morning I discovered that the Shareholding Disclosure rules are different on the HKEX. On AIM Shareholdings RNS's are issued once an individual or group crosses the 3% threshold, however this is 5% on the HKEX. The Double River shareholding represented 4.34% of all shares once the loan was converted, therefore if Double River were to liquidate their position there would be no need to notify via RNS. This could potentially explain why there was such a crash in SP on the first day and no shareholdings notification. It does baffle me why there was no lock-up requirements implemented by the BOD on the loan conversion, considering the substantial difference in conversion price and offering price.

I was re reading the relisting prospectus this morning and came across this:

"As at the Latest Practicable Date, we had three letters of intent in relation to ethanol production system projects with an aggregate expected investment amount of approximately RMB680 million."

This would suggest that the large future projects in the prospectus have been secured and signing these deals is a matter of formality. I am expecting the half year results to be fairly decent due to the significantly increased contract backlog from 2019.

https://www1.hkexnews.hk/search/titlesearch.xhtml?lang=en

The Board Meeting scheduled for tomorrow, has been postponed to next Tuesday.

It will certainly be interesting what comes out of the meeting on Thursday, I hope the BOD takes the appropriate action to stabilise and boost the SP. It will be interesting what the first half financials look like as we were reassured that COVID had minimal impact on the business. As for a dividend it would certainly be very positive for the SP and holders of the share, however I can't see one being issued. If minimal information is released after the meeting, then I will definitely be emailing Richard Bennett.

https://www.hkex.com.hk/Market-Data/Securities-Prices/Equities/Equities-Quote?sym=1156&sc_lang=en

The issue with this share is the complete lack of communication and PR, nothing to do with the fundamentals or balance sheet. I hope that the BOD are keeping quiet until the majority of AIM shares have been transferred across to the HKEX. Once this has occurred, we need regular updates to recover the SP to IPO price. There is definitely a plentiful amount of news to be released over the next two months, check page 293 of the prospectus. If we secure the large project with Inner Mongolia Zhongneng Biological Technology Co., Ltd at a profit margin of 16% thats nearly £9 million in profit. The money raised from the IPO is allowing us to take on such projects, thus our profits should excel over the coming years. However, this is useless if we aren't receiving news on such contract wins.

Thank you Manunited31 for the kind words.

Hopefully we see some news flow in the next two months, with 6 projects having expected signing date of formal contracts in Q3.

https://patents.google.com/?assignee=%E5%B9%BF%E4%B8%9C%E4%B8%AD%E7%A7%91%E5%A4%A9%E5%85%83%E6%96%B0%E8%83%BD%E6%BA%90%E7%A7%91%E6%8A%80%E6%9C%89%E9%99%90%E5%85%AC%E5%8F%B8&sort=new

A list of all our patents if anyone is interested.

https://www.hkex.com.hk/-/media/HKEX-Market/Listing/Rules-and-Guidance/Interpretation-and-Guidance-Contingency/Guidance-Letters/Guidance-Letters-for-New-Applicants/gl61-13.pdf?la=en

Continue to the flow diagram on page 9 and look at the bottom right, looks like we're almost there!

13.5p for me

Those wondering about CGT if we move to HKEX:
"So how are foreign shares handled? It’s a similar story. There will be no UK capital gains tax or income tax on the proceeds from foreign stocks held within an ISA or SIPP. Your only tax loss will be any withholding tax (WHT) deducted at source in the country where the stock is listed."

Response from RB about whether he would be purchasing shares:
"I am an insider until the admission document is released. Will look to see if there is any arbitrage left next week. At the moment it looks promising."
Insinuates that we should get a release of the admission document next week some time. Listing really does seem nailed on, however nothing is ever a certain. GLA all.

key word in that sentence is comfortably, will be very interesting to see what price this is once the admission document is out.

This was taken from Richard Bennett's twitter a while ago, I wonder if we are finalising a few things and ready to move to this stage:
"Approx. a week before the re-listing on the HKEx, the local broker will run an auction. Provided the auction price for the shares delivers a market cap > HK$500m, then company will de-list from AIM and re-list on HKEx."

The company can only raise capital via a placing at a value greater than the nominal price of a share. The nominal share price for INX is 10p, I think it is more likely that there is another II selling down its holding. This would explain that since we had the last TR1 any day we make significant gains the next day we see those gains wiped.

We will have fully broken out today if we hold today's gains, I expect a retest of 9p resistance.

Must be a large sell going through to cause such a dip this afternoon