Member Info for KNIGELK

Got some more this morning - way oversold imo especially with so much news in the pipeline GL

Not so super....

Little chance of the open offer votes not being passed imo (52% approval on one resolution and 40% on another resolution already by the major shareholders as per prospectus)

The shares will not be tradeable until 26th March - you have to pay for them first (14th March) then the AGM passes the resolutions and the new shares are subsequently listed on the market

The entitlements have appeared as a new line on my SIPP. If you click on the shares tab near the top of the web page - there is a corporate action bookmark and it will list current actions. Helphire is there and it confirms we have until 14th March - however HL will also email/post confirmation this week. Considering the 2.5p placing will be at a 40% discount to revised NAV and may carry a dividend yield of 5-10% going forward I only wish I could apply for excess shares lol

I read a comment last week that the breakeven figure was 2.97p was basing the share price pre RNS and subsequently taking up all your entitlement. I'm hoping to be able to take up my full entitlement but it is quite a large amount to find - HL has given me until 14th March to forward instructions but other shareholders with other brokers/banks have posted they have to decide by this Friday! GL

You can take up anything from 1% to 100% of your entitlement (or none!) Remember you have the option of selling your existing shares to help fund the open offer shares since they are on offer at a lower price (atm)

DYOR but I will be taking up my entitlement for the following reasons. After the placing.. 1) debt interest down £4-5 million adding to profits 2) dividends will recommence 3) revised NAV of 4.7p 4) a stronger second half and trend suggests improving margins 5) more corporate news due (Autofocus/ABS licence 6) bid appeal 7) low PE as earnings s/b circ 0.4p. So in summary 2.5p seems a fair price with pently of medium/long term upside although the share price may be unpredictable in the short term due to possible selling post placing GL

Appears more private investors have been selling their ordinary shares to fund their open offer entitlements. I would normally buy at this level but need all my available funds to take up my entitlement at 2.5p. I really hope that the share price stays above the open share 2.5p price - it should...

Not heard either but will wait until Monday afternoon to chase

You now have the option of acquiring 260000 entitlement shares at 2.5p. You can sell your existing holding to acquire part/all of these entitlement shares at 2.5p, or you can buy some/all of the shares from other funds or you can do nothing and continue holding your current 100000 shares GL

If you go back over 2-3 years Chipf has provided detailed posts on the workings of Helphire and the sector in general and he has stated he may reinvest at a certain price - I doubt he wishes to talk down the share since he held for years and at a far higher price. Also I do not recall him saying he was a call worker - he might have been middle/senior management? As for attacking me, I cannot recall such posts except one were I stated your target of 18p was unlikely to happen within a year and you disagreed with me. That is what I call debate and having a view point and that's fine. Let's try to keep the debate on the company and its future rather than personalities GLA

Well I am not buying any more lol. Decided to hold on for the time being as I doubt MMs would have given me more than 3-4p for my large shareholder. I fired off several questions yesterday including if the company still expected to announce more contract wins and expects trading to improve after 1st April re CCGs financial new year. It might be time to ask ACS to convert their loan to shares and subsequently consider a further equity issue - as you say, just have to wait and see for now

Kamkang - see my post earlier, you have nothing to worry about as your shares have been split to ensure the nominal price is below the 2.5p offer price to ensure it is able to happen - you keep the same number of shares but with a different nominal value attached to each share. Songkran - understand, but if you sell out now to buy the open offer - if it is not voted though and the shares fall sharply, I will not be effected as I am not holding any shares (I know, a selfish view but correct). However the offer documents already shows 52% approval on one resolution and 41% on another resolution so I will be amazed if the open offer does not go ahead. Chipf - I have a more positive outlook for Helphire. Margins were up and the company back to making a net profit. The company no longer has to find £ 5-6 million in interest charges and can now make at least £ 7-8 million profit a year with half probably being distributed back to shareholders. I make potential eps of 0.4p and revised NAV of circ 4.7p (as per prospectus) so it appears the open offer price of 2.5p offers upside for current shareholders who are patient. The company has applied for an ABS license so is being more proactive and there is the possibility of a bid. I hope if the share price does test the 2.5p level over the next months, some ex-shareholders might be tempted back in. GL

How likely is it though? After the open offer shares are listed anything could happen expecially if the banks decide to sell their shares asap but 1p does look extreme imo. If the SP goes below the 2.5p open offer price you either sell at a loss or hold for dividend income/bid appeal/further recovery/Autofocus updates. BTW I sold my shares at 3.3p yesteray as I knew I would not have the available funds to take up my full entitlement and judging by the weakening share price today - I am not the only one GLA

I am quoting the 15th March from the offer document but each bank might have different dates for asking for the funds to pay across. Usually with Hargreaves Lansdown I can transfer the funds by 1pm on the due date GL

You can sell your existing shares NOW but obviously you have to pay for your entitlement shares by the 15th March but they will not be listed/tradeable on the market until 26th March so you might be sort of cash for 10 days (if you were planning to sell them)! The deferred shares are a red herring for existing shareholders - it is a techical solution to ensure that the placing can happen at 2.5p since the nominal value of the current shares is 5p so splitting the nominal value ensures the placing - it doesnt effect the number/value of the shares you hold. There is a 141 (!) page prospectus on the Helphire website that you can download to read which provides all the answers plus shows the revised balance sheet post restructuring that gives the balance sheet a value of £ 72 million or 4.6p per share

You have to find the money to pay for the entitlement shares and there is no reason why you cannot sell your existing Helphire shares (since they have gone ex-entitlement) or any other share to raise the sums required - although I thought we had until 15th March to actually pay?

No, just added

Can't see a (short term) positive on this news - working capital is still tight so really need to find another buyer for the turbines asap GLA