Member Info for JimSlade

I asked for comment on delays and falling share price. Nothing new. Seems positive.

We acknowledge your email and the points you raise.

We reiterate the update report given just over a week ago (5th Feb) where it was stated that significant progress is being made on multiple workstreams, including on project finance, and that investors can expect a further update this month.

This is still the case. In fact, if there had been any material adverse change to the business or to those key workstreams, we would be under obligation to update the market on this. Such announcement is certainly not anticipated.

The Company is of course aware and disappointed at the decline of the share price, especially given the material progress and de-risking made with regards to the project development, not to mention that directors are aware of their obligations to shareholders and themselves have significant interest in the Company and are heavily aligned with shareholders. With regards to the Company's market capitalisation, this has not been a concern to prospective lenders and equity participants into the project, particularly as Villeta will be financed at the asset level.

We understand that timelines have previously shifted since we started development. Nevertheless, the project began as a 60MW green ammonia facility which has since transformed into the development of what is projected to be the world's first dedicated green fertiliser facility with 145MW of power capacity as well as the further progression of our existing pipeline. Whether it's offtake, EPC contract or project finance, discussions for a major first of a kind project of this nature take time and require careful consideration.

Your comments on communication are noted. Please be aware that given the commercially sensitive nature of these workstreams, updates will be given at the appropriate time and as consulted by our advisors. We aim to ensure impact of this will be maximised. We do regularly update all followers on LinkedIn and X platforms.

Please rest assured that management is working on delivering the right results in the interests of all shareholders and we strongly believe 2025 will be a transformational year for ATOME.

No problem mate. Let’s see how this works out.

Vicar I can understand, quite rightly, you are not happy with the current situation, as we all are, however myself and Looed are not the same person and the recent posts were not spurious.

Before anyone asks I have not have any further communication but am trying.

I had the same thought..

Hi Keyser,

As Monti has mentioned it looks like there will be no further comms during liquidation process at the request of Deloitte. I will keep trying.

I understand things are still going on in the background but have nothing more than that.

All the best.

Jim

Think that is referencing a different block that was due to be put out to tender near ours.

Morning,

I have made numerous attempts at contact but have received no response as yet. I’ll keep trying until I do.

Would add to this after 5 years we are likely to be getting a dividend from Atome which will start production in 2026. It’s a self sustaining business as it stands.

He should have tabled an offer of c£3-4m along with the delist. Only a few weeks ago he publicly stated it was worth far in excess of £4m. I honestly think it is worth more than this but he has the lost the ability to connect with the markets and is behaving irrationally. Why gone on Malcy for an interview to drum up interest when he could have gone on Proactive, IG and so on which would have been far more professional received. We expect Atome offtake in a matter of weeks followed by debt finance and FID which should increase its value and MEN. This increase would likely increase interest from value investors in MEN. There is no immediate need or reason to delist now, we have cash at bank, interco is being repaid, we receive £2m in Sept this year and we will keep receiving income for 5 years from Argentina sale. He could have delayed GHC IPO for a year while he it’s tech matured and/or looked at the NASDAQ. He has chosen to delist now as he is embarrassed the GHC IPO did not go as planned and he will appear a failure. It just doesn’t make sense what he is doing.

I sent a secure message and got a response with the report attached following day. Do the same tell them other shareholders have been provided with the report.

Received direct from HL

WestHam HL have the report I received a copy last week. You might need to request it.

Make no mistake there is plenty of value in Molecular it’s just PL is doing everything wrong in the short term and stopping the Company from flourishing. He’s completely arrogant. To be fair he’s thinking 10 years down the line which is longer than most investment horizon.

Atome Off-take is expected shortly which opens the door to debt finance and FID. This should see a sizeable rerate of Atome, would then be a viable business with would be customers, and obviously increase in value MEN holding of 18.8%. Small change in Atome could see big change in MEN at current levels. PL would know this and should have waited why the rush. If he has done the right thing he will have timed the delist to take place after this event. Unsure if this is likely.

The planned IPO of GHC was not well received. Rather than just put it back or cancel although he took the route of delist to cover his tracks and save face. Absolute disgrace sitting in his ivory tower shafting the small PI’s.

We will get more for our money if we stay public. Atome will reach offtake agreement and FID in not too distant future. This reminds me of the Argentine asset sale rushed through before elections which low and behold would have let to a significant increase in value.

I have a few shares here not loads but this is either complete mismanagement or corruption. Every major decision over the last year has been so clumsy to be suspicious. How about we all vote against it?

I did ask what would happen if remedial work did not go as planned and have been told the likely next step would be a new side track to same well reaffirming this is a single well issue. Would obviously be cheaper than new well so potential placing not as bad as could be. Presume this is still the case.

Below is an extract from interim accounts June 23. As far as I am aware this remains untapped. Unsure why they haven’t as an immediate gain.

“Additional financial support is available to the Group in the form of an Unconditional Standby Equity Facility Agreement whereby Peter Levine, Chairman and one of his investment vehicles, PLLG Investments Limited, have agreed to subscribe for shares at the placing price of 80p per share at the call option of the Company at no cost and at any time during the period to end June 2024. This provides an additional £3.0 million facility to the Group should it so require after considering other forms of financing available”

It’s obviously a time where we are questioning everything that is taking place, quite rightly so.

My take from the comms I have had, from an Individual who in all honesty did not need to is we are all in the same boat, SN included.

We either do well together or not and that includes SN.

The Company has been very open that there is a low chance of finding commercial oil so assume failure is priced in.

What I can gather is the Company could have sold ATOME shares for the c£500k required but considers these to be highly prospective and feel more value holding on to them. Also ATOME is currently involved in sensitive financing negotiations and this may have sent out wrong signals. Discount was so low as no liquidity in MEN shares.

GHC IPO still on track and update is due soon..