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So it looks like yet another open offer where no announced plan by any of management to buy shares in the open offer. It is my guess that the open offer will be under subscribed even with requested for excess shares from some of the shareholders. I have been here in RED/IES for about 7 years and have always bought more in the open offerings . This will almost definitely be my last.
We will have about as many shares in issue as in 2017 from memory about £435 million . The difference is that they're rebased. 50 old for 1 new in 2020 soon after the merger.
I have lost count how much new money has gone in to keep the show on the road. I think it is about £160 million.
In the words of the punk band the Stranglers from the 1970s "Something better Change"
Fool that I am I have exercised my warrants via Hargreaves Lansdown. As Hargreaves Lansdown seemed to remove my warrants from my holdings page a week or so ago maybe, I don't hold out much hope that open offer PI HG Invinity holders now will even realise they can exercise their warrants. The rest will think buying additional shares at 50p is foolish when the price now is under 30p.
Cardplayer posted the link originally on his her post but here is the link
https://www.youtube.com/watch?v=19twy3eYgD8
This YouTube link has reference the Invinity at 7min 7 secs In my view the video it is not really about Chinese flow batteries but the growing potential for flow batteries of all types as long duration energy storage solutions. Sometime after 5 minutes it references a University of Sheffield analysis of levelised cost of storage for flow batteries from a 2022 report.
The video is only a couple of days old at the time of writing this 5th September 2023. I believe it has had 130k views! The YouTube channel is Called Just Have a Think.
Perhaps it played it's part in the price rise yesterday ?
DD77 .The chief development officer Jonathan Marren was the CFO of RED now IES some years ago. In fact he was around as an advisor when the flotation of RED then Camco floated in 2006. So perhaps that explains his temporary take up if the role.
Nicetomichu. I love to see that you feel this is a stock for gambling with. I am interested in the potential for sales from invinity that have the potential for making a profit. On that metric as Invinity stand there is an awful lot of sales that are needed to sustain a share price that even 10 percent of shareholders would be happy with.
Does anyone know if there are any consequences for shareholders on AIM not promptly reporting changes in their holdings. It is my understanding that they only need to report when their sell or buy programme finishes, but how soon after that? I am right in my understanding of their obligations? Alchemy Holdings, the John Ward investment vehicle that former director had many RED i.e IES shares and as far as I can see were not timely in their shareholding notifications. Can or are the directors of IES obliged to chase any suspicions they have? Comments welcome.
I recall three sell offs by organisations with a notifiable amount over the years with RED/IES.
John Ward a director in RED days. British Steel Pension fund and Payar Investments who sold as soon as the merger happened. All resulted in huge share price drops. I hope that is the main reason for the current share price drop.
One of the investors who came on board as part of the merger also reduced their holding as well.
I hope that the large scale battery project with Siemens Ganesa is on track for delivery soon.
hTtps://www.energy-storage.news/rising-flow-battery-demand-will-drive-global-vanadium-production-to-double-by-2031/
And still the IES share drifts lower .
Interesting that the share price is about the price it was at the RED suspension price, which was about 53p in new IES shares. All the investors that bought in a the premium price of about 82p with the merger are underwater now.
There had been a search for a strategic investor(s) then , the company had little in the way of cash in July 2019 .
I guess now IES have a potential strategic investor in the wings with Siemens Gamesa, but the sum involved is probably tiny in the view of the future market for storage. I have never understood why Schroders increased their holding to about 26 percent but I guess without them IES would be in a bigger hole.
Can IES secure sales that is the big question?
Sbuild. I think you will find that the directors investment is not £4K but £12K. I agree not a ringing endorsement of Invinity. I share your frustration with many aspects of things but I do feel there is real evidence of progress now. There are still too many subsidised projects in the installed or nearly installed projects so far, but comparing it to the CEO McGregor days I am more optimistic. I remain cautious about whether IES will ever be a £1 billion pound company. If they ever regain the price I initially invested at in IES share prices of £4.20p I will be delighted.
Richard08. I think that the Interim results indicate by the end of August 2021 the cash position was just over £6 million. I reckon that IES will need another £50 million in the next few years. I base that guess in part on order timescales and cash requirements always slipping . But sales and orders are needed if investors are to be tempted to stump up the cash.
It is fascinating to see the high gas costs and shrinking nuclear in the UK, grid supply problems in China using loads of coal but arguably limited attempts to load shift electricity demand or long term storage to deal with intermittent renewables.
While I don't share yellow's analysis I welcome in general views and comments different to my own. I have seen far more troll like behaviour on this and other non LSE boards but yellow a troll ? Not in my view.
People are welcome to ignore my views as I only now hold 200 shares or so, though I did double my shareholding in the last fund raise.
SBuild I have for the last 2 open offers asked my provider to set it up as in 2016 one they did not seem to do it and time at Christmas that time too was running out. There is one rational in making the open offer so small from the companies point of view- all the last ones were undersubscribed even after the excess offers were take into account. This one is different as there is evidence this time of sales and placing is already done and dusted for over 10 times the open offer. All we can hope for is that a scaling down of open offer allocations will favour the smaller investors who choose to apply for extra shares. 1 new share for every 64 is not in itself for many worth applying for though.
McGregor got £200,000 acccording to the Invinity accounts if I remember correctly. So the company could not or would not do what so many RED shareholders wanted. I see that the Camco Africa which was sold for next to nothing with McGregor last time I looked still a director of its successors i.e. Camco Energy etc. Now interestingly profitable it seems. Invinity is value expressed in old RED share price is about 4p now, still less than the price of about 4.25p when the deep discounted open offer was announced. It still needs an awful lot of sales to keep the share price at these levels. By more luck than judgement I escaped with a profit and remain a shareholder with 100 shares bought when the prices was about 110p.
I used primarybid for the first time to buy a small number of GSF shares for the first time too. Interesting to see how things pan out with the growth in battery storage on uk Irish and other grids. Hoping that GSF can remain profitable .
Leclanche battery company a pure play battery company HQ Switzerland. Interestingly they are developing lithium titanate batteries that claim much lower fire risk and I think no cobalt, with all the issues that cobalt raises. Source from 29th May 2020
htTps://www.energy-storage.news/news/developer-offers-clarity-on-battery-safety-assurances-at-uks-biggest-solar
A supplier for the battery system has yet to be selected. However, Hive Energy’s Hugh Brennan said that the developers have been working with Leclanché on a “preferred partner” basis during the development process so far. Brennan notes that Switzerland-headquartered Leclanché has over 100 years experience “with battery and energy storage innovation”.
See also an older article that mentions VRFBs not IESs predecessors though to assess if it is likely
htTps://www.solarpowerportal.co.uk/news/hive_energy_backs_long_duration_storage_with_immersa_cellcube_partnership