Member Info for MPO818

And another 3 filtered - there are no meaningful posts in this BB - sad, I believe fortunes are looking up for VOD, buybacks now having some impact, and directors doing some recent buying.

"I can still get a gist of what he's saying from the responses,"

I just wish those invested here would STOP responding, it just encourages further posting. Those responding must be "worried or give credence" to the rubbish being posted - you either believe in the "ITM Project" and if not sell and move on.

Another 2 filtered

Blimey - that opens a huge "can of worms" undecided on whether there should be an opt in scheme, trust banks to inform the customers concerned.

The FCA are next to useless and will pile costs onto the banks - some date back to 2007, interest applied to claims at 1% above base. The uncertainty this all creates is huge. Expanded headcount will be needed to sort this out, and roll on for 12/18 months minimum.

4 green ones - fools guessing prices, nothing to see here

It was reported that cash at the half year end was £203m (31/10/24). The company updated today they expected to be cash positive in the 2h of the year, estimating it at £205m at 30/4/25. Whatever has happened since we will find out on the 14th.

"FCA to consider redress scheme for car finance payments"

Rachel from complaints will put a stop to that - She will take all the "imaginary compensation" in her "banking levy" coming in the autumn statement.

That looks nailed on.

This Supreme Court decision coming at 16.35 could well be bad news for shareholder and Rachel Reeves.

Shareholders from the point of view of the share price early doors Monday, and from the Chancellors view her ambition to pile extra taxes on the banking sector in her autumn statement.

Eds opinion why produce and generate taxable revenue when we can import and make other nations richer, what a dangerous fool he is.

https://www.telegraph.co.uk/business/2025/07/31/britains-gas-imports-surge-as-miliband-abandons-north-sea/

Https://www.telegraph.co.uk/business/2025/07/30/keir-starmer-waking-up-to-reality-labour-north-sea-retreat/

Garonne

You are a badly burnt AFC investor, who saw an opportunity to switch to ITM. The recent downturn has hit you and you are now comparing the ITM leader with Adam Bond who led all AFC investors down the garden path for nigh on 10 years. AFC have now written off all Bonds mistakes, and fresh management could well turn that ship around, time will tell.

The leaders at ITM, are very different and have decent CV's in the industry, either believe, back them or sell up and move on.

16/86 so almost 20% of the volume - WHY

Well mainly because those posting decent info keep responding to our green poster, WHY is anyones guess. I expect the green man is just posting the same old rubbish and he will continue if others respond.

Great day over at CWR our turn will follow, it appears nailed on.

An extract from that government document, link posted earlier - some companies mentioned including ITM, CWR and AFC - EXCITING TIMES AHEAD.

Johnson Matthey, which employs 3,500 people in the UK alone, has entered into a long-term collaboration in Germany with Bosch and SFC Energy to supply advanced fuel cell components. In Sheffield, ITM Power has announced deals for 20MW of Proton Exchange Membrane electrolysers to various German projects, as well as a 20MW project for a Norwegian hydrogen hub and a strategic partnership with Deutsche Bahn AG. Ceres Power, based in Sussex, continues its international expansion with new partnerships announced in Japan, Taiwan and India, and AFC Energy, based in Surrey, has partnered with industrial distributor TAMGO to supply its hydrogen-powered fuel cell generators across 17 countries in

4 Optimat Wood: Supply Chains to Support a Hydrogen Economy (2022)

24

Hydrogen Update to the Market – July 2025

the Middle East and North Africa, as well as deploying UK-manufactured fuel cells and batteries in Spain.

Please stop this NONSENSE about share buybacks: Read some of the basic rules, especially those relating to FINANCE.

Here's a breakdown of the key rules:

1. Articles of Association:

Prohibition:

The company's Articles of Association may explicitly prohibit share buybacks. If so, the Articles must be amended (usually by a shareholder vote) before a buyback can proceed.

Authority:

Even if not prohibited, the Articles should ideally include an express provision permitting buybacks, especially for off-market purchases.

2. Shareholder Approval:

Market Purchase:

For market purchases (buying shares on the open market), an ordinary resolution (majority approval) from the shareholders is typically required.

Off-Market Purchase:

For off-market purchases (buying shares directly from a specific shareholder), a written contract outlining the terms must be approved by shareholders via an ordinary resolution before the purchase takes place.

Disinterested Shareholder:

The shareholder whose shares are being bought back is generally not allowed to vote on the resolution.

3. Financing:

Distributable Reserves:

A buyback can be financed using the company's distributable reserves (accumulated profits).

Fresh Share Issue:

The company can also finance the buyback with the proceeds from issuing new shares.

Capital (Limited):

In limited circumstances, a buyback can be financed out of capital, but this has specific legal requirements and requires shareholder approval.

Payment Timing:

The purchase price must be paid at the time of purchase, meaning deferred payment or installments are generally not permitted.

Think there are rules that buybacks can only be done if the company makes profits.

All quite positive - again - patience people.

Jeff - their reduction at AFC was a consequence of the capital raise.

Well with hindsight the undersubscription is not a great surprise, as it was only open to holders on those 3 platforms. The shortfall was quite low when this is considered.

I assume ii (showing the subscription value as a cost) will not release the funds until the process has been approved at that meeting.

The retail offer was undersubscribed, so allocated in full.

I expected it to be oversubscribed and now we must wait until 7/8th August for the results of the shareholder meeting.