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TBF I think Digitalis answer was pretty comprehensive, and covers different types of investors.

The key for me, and I think a point which was well made is that there is now a big reason to differentiate betweeen a number ( either share price or your return) and the end game of the company. We all saw ITM as a “green energy solution” but Dennis put the record straight on that, ITM is a “gas producer” , and overnight has become not only a gas producer but also an energy supplier to defense / NATO so does that mean having a specific exit strategy / price need to be revised.

Financial plans / goals are there to be reviewed and revised.

I am trying to think of a suitable example without getting carried away……Apple, let’s say investors had an exit price pre I Phone, then they see the launch of a game changer, did this change their exit strategy?

FWIW I see this being a solid dividend payer which will form part of my income, I won’t be giving my shares away at a predefined price, be that £3, £4 or whatever.

Oh how I wish I had taken my 10p profit late yesterday like some seemed to do. The traders have had a good ride off this, now it’s the turn of the real holders !!!

Those who see the long term prospects and have held while we were told we were being taken for mugs will continue to do nothing….: hold and hold, this company is going places and Dennis is earning the salary he was derided for by those trying to cause uncertainty.

Agree with Digitalis, they were gambling on a terminal outcome, and at 30p there was no volume, some days less than 1m shares traded. If they started trying to exit then the price would have squeezed very quickly, 25 million shares are a lot to buy in a market trading 1m per day.

They tried to convince us they were already out, and that we were “stupid” to believe otherwise.

They have shown their hand now, this could go bad for them very quickly.

That is a big statement imho, we have been speculating for some time how they were going to exit and even back to the days of the resident “plant” ( or fish might be a better term) there was this idea spread that they were ahead of the game, they had already covered the positions and their profits were secure.

This suggests to me that they haven’t covered any positions, their hand is now forced and they are going to try and exit at current, rising price levels.

Have they accepted that that they couldn’t bank those profits on this trade? Will they continue to but circa 200k shares a day?…. It’s going to take them a while :)

I guess though MP0818 it depends on what your goals / motivation are for the investment. If you want ITM to be bought out you may see it as a barrier, but if you want to see your investment remain long term, and not be pushed to sell at a price you deem too low then the govt backing is a positive.

Personally I would not want to be selling out at £4 as I would be giving it away.

Totally understand why you would sit on the fence, I guess it is so natural when you are looking at losses like that.

I find it interesting to try and understand why people take the decisions we / they do. If the conviction was there to buy at £4+ like so many did, and all of the available information which we had available to us looked the same ( and in many cases better ) then why not buy more at 30p-50p?

Sentiment has a lot to do with it, outside forces telling us all the time the shorters have won….. I don’t know, but certainly ( IMO) the company offers a fantastic solution, arguably the best solution in the world, and is now getting a firm backing from the UK government.

With, in the high 20’s of millions of borrowed shares to be returned, and the landscape looking better every week for ITM the future looks bright.

XBB hindsight of course but a bit of price cost averaging in the years since the highs would have put you well into profit by now.

The company always had the cash since the highs and there always is risk involved but a few additional shares each year would have averaged down considerably.

With recent news does 80p not make provide an opportunity for you ?

Of course, not financial advice and dyor and all that .

Agree 100% Wookie, one of the standouts I took from the factory tour was that Dennis said something like “ITM are not operating in the Green Energy sector, they are operating in the gas sector”….. there is a misconception that ITM is a renewables business, whereas in fact it is in the gas production business.

Of course there is a massive crossover that the gas they produce is done using green energy, and that gas produced offers significant emission benefits their core business is “gas production”

Agree 100% Wookie. Having placed their bet, then doubled down on it the hand now lies with ITM and its long term shareholders.

I still believe they got found out and hands slapped with all of the fear mongering on here around 24-30p. They desperately wanted out but could not create the volume to close the position without really significant upward movement. They cannot keep renting forever, and while they sit on their hands the solid news continues from ITM.

Reduction in cash £9.2m with £197.8m cash :)

This is a significant improvement.

Pokerchips, sorry I don't understand where that argument goes?

Surely any gain they have from the shares they are holding, is cancelled out 1:1 with any loss on the shares which they have borrowed?

It is like a zero sum game with a rent attached.

For ease of numbers lets say they bought 24 million shares when the price was 26p ( so they hold the same number of shares which they have borrowed), they are enjoying the price rise up to 68p, but all of the shares which they have to buy back to cover the short has lost them exactly the same on the way up, then they have to cover the rent / interest on the borrowing ???

I understand that this would have locked in their profit at 26p but why keep the short open when you now have the ability to close it with shares which you have bought? This is now "dead holdings" for them, which surely a hedge fund want their investment working, not invested into a vehicle which cannot make any profit as it remains the same whichever way the stock moves ??

Also are there not rules in place to stop this practice, they have to declare "net position" to the FSA?

If they have been "trading" on the way up and taking profits I could see the argument but just buying and holding makes no sense at all to me.

Am I missing something?

Totally agree Kitesurfer, It was sad to see the number of genuine investors who got scared by the lies which were being circulated on here. I still believe there was some involvement from the authorities in the end to put a stop to it, but we will never know.

They now know what they are up against, and with positive news continuing just do not know how to cash in their chips without creating a storm. With daily volume sitting around 1.2m shares traded in Jan, 24,000,000+ is a lot of shares to buy. For the record they are not having any of mine, I don't care when they do it, I am in for the long term but would like to see the share price reflect the progress which the company is making, not some value with 24m additional shares being on the table and horse traded for short term profit.

My opinion of course DYOR and all of that !!

Aobfc, there was a lot of speculation around those times when ITM was so low, and why they didn’t cover their shorts. If they had covered, why would they still be paying rent on 24 million shares?

Since then Qube have added to their short. I think their endgame is not having to buy any shares back, but I would guess they are twitching now. 24 million shares taken off the table right now is going to be a big, and expensive move.

It’s a massive thorn in their sides.

Another great appointment, really feels like the ducks are lining up for something big, not a short term bang, but the building of a success story for the future.

If Linde do have aspirations then I still hold the view that it would have to be north of the level which other institutions came in at, and of course they don’t just want their original investment back.

As a long term investor I remain confident, and comfortable with my holding, in that it will either bring profit or a long term income.

If I had a debt of shares, let’s say 23 Millions of debts, seeing things lining up as they are would have me asking all sorts of questions as to what my strategy is going forward.

I agree Hairy Davey, my view is that when the 23 Million + shares are in effect taken from the pool / bought back that £1.50 is current fair value.

I base that on there being a significant % of the company invested by corporate investors at £4 who won’t be selling at 90p / £1 or even £1.40. Add to this the significant LTH private investor there are not an infinate number of shares available to buy in this range.

23,000,000 is a large number when daily volume remains low. Even if there are 8-10m being daytraded in this current that is still way less than half the number of shares they need to get their grubby mitts on.

I have put a fair few int my LTH pot so sorry they are not available, and they have been bought recently.

Obviously this is an investment forum and not a platform for political debate but I don’t consider referring to a group of people who have gone against pretty much all the policies and pledges which they used to get themselves elected as a “mob” or “clowns” is in anyway unfair, or anything I will take back.

If anyone wants to focus on those words that’s up to them, but my point was …

Milliband specifically mentioned in the commons their commitment to Green Hydrogen, does that indicate a level of support we have not yet seen?

I would just like to caveat that with the fact that I don’t trust anything those clowns say right now, but I did find it interesting that he was so specific.

Found myself watching the commons last night when they were grilling Milliband on the COP summit in Brazil.

His words at one point “we are commited to climate commitments INCLUDING Green Hydrogen”

Green hydrogen wasn’t mentioned in the question or any other forms of green energy so I thought it was interesting he mentioned it when there has been so much focus on other sources. Anyone seen anything else from this “mob” about any commitment towards Green Hydrogen ?

Dennis did cover something on this topic of Linde and my recollection was that the market for hydrogen outside of Linde current busienss / customers was so large that it wouldn’t be in their interest to buy the company.

Anyone else recall this better than me ?

I agree there is little uncertainty, but they can try and create it by selling more shares which they don't own ( AKA adding to their short position ) which can drive the price down. Hopefully those shares are being swept up by LTH adding to positions like I did at 80p rather than traders who will keep on recycling them again at higher 80's and taking their short term profits.