Member Info for MPO818

Balancedviewer
I have read the RNS in full - the volumes reported daily have not increased, the sidetrack has been successful and has flowed - when will the daily flow rate reflect the increase - the RNS mentions the Summer

Singhie
***I Strongly Believe The Moment Has Arrived - The Reduced Output Yesterday Allows Me To Infer That A Connection To The Grid Has Been Made - If You Feel Optimistic Now Is The Time To Buy & Beat The Purchase Restrictions***
Yesterday's RNS said Summer for connection to the grid, or have I misunderstood what's going on?

Still not issued, and will apparently will be full of post year end events promising jam tomorrow. To date the market has determined that these have had very little (if any) impact on the company's valuation. I'm braced for the bad news.

So the bottom line is (assuming the summer date is met) this sidetrack will have taken over 9 months to give results. What a shambolic screwup by George and his team. Late 2022 he was waffling on about paying off debt and distributing dividends the delay is costing shareholders dearly. As for the eventual unhedged gas price, who knows, don't be surprised if the extra gas gets hedged at a low price with one of GL's mates.

Sorry that was duff info - the RNS states (which clearly makes JS comment rather odd)
5. Date on which the threshold was crossed or reached vi:

14 April 2023

6. Date on which issuer notified (DD/MM/YYYY):

18 April 2023

Following todays RNS UBS have dropped to below 5%. That's probably the 210,000 shares trades showing today as 'Unknown' and not as JS is claiming to have sold.

The RNS states that the reduction started on the 14th April (JOG touched 217p that day) and completed today.

Crocqman
Forrest is a non exec director and I would suggest with a £9m investment in ANGS he probably has a greater insight into what goes on at ANGS than GL. If you believe otherwise I suggest there is an element of "naivety" on your part.

Don't know how that can be OK when news of the sidetrack result is due any day - if he is not a insider what does he do all day -rather smelly imo, but there again not too unusual for ANGS we all being played?

Volume Ex-Sidetrack
So the question is - where is the side track output going? sorry in advance if this is a daft question.

"Whilst producing through a temporary connection"

Is that to the grid? or is that deferred to the summer, it seems rather vague to me.

Sidetrack successful - BUT not flowing to the grid yet, with summer mentioned.

Maybe if they had an up to date set of accounts there could be interest - there again they may run a mile - who knows - certainly shareholders have been kept in the dark.

It is hoped that these account become available in a reasonable time for the content to be fully understood ahead of the AGM. For them to be released at 7am on the day of the AGM would leave no time for them to be fully understood.
The BOD should be ashamed of this poor reporting performance, and implies they have kept important progress/information from both investors and the market, however the market has anticipated this and it is reflected in the poor share price performance. All will become clear in the coming days.

For me this delay to the annual accounts is a major issue. Changing a contractual sale into a subscription for shares after delivery of the product stinks, furthermore the capitalisation ("L Series") of an unsaleable product is "just wrong", it was questioned a year ago and it is being questioned again. The outcome will be disclosed very shortly.
Perhaps Bond should resign before he is sacked, no doubt this will not happen and a bigger bonus paid, along with more free shares.

"Most probably the worst aim share on the market . It’s amusing did they get a FO or was it an April fool joke ?"

As he bales out with his 900k + shares.

Just bought my ticket, I'm back on the bus!

No prize for guessing the predicted poster.

That should make Haggis sit up and listen

I have just picked up my new Tesla, I gave the garage 60k for some of their shares.
I'm driving home in my new TESLA.
Thats exactly what ABB have done to AFC - Haggis how do you think the garage should account for that?

Think about it haggis - A £4m sale incurs taxes (VAT) to then change it to a £2m sale and subscription for 2m shares =
1 Tax avoidance
2 Sale below expected market price.
3 ABB are a related party
4 Dilutes existing shareholders
5 As shareholders we should be asking "why the change"

The note below comes from the latest RNS. I think there are a few issues that are giving the auditors cause for concern, one being the accounting treatment of a reported sale to ABB which has been changed to an issue of shares, HMRC may consider this to be tax (VAT) avoidance. With ABB already being an investor in AFC it calls into question whether the transaction was at arms length with a related party. I recall that last year the auditors called into question the accounting treatment of the "L Series" none had been sold and the cost capitalised as AFC insisted it was a commercial product - to my knowledge the situation remains unchanged, so once again it may be an issue. With the spotlight being more focused on the performance of auditors they will be exercising greater care - last year they labeled AFC a "development company" the CEO considers it to be a "commercial company".
The Company's Annual Report & Accounts for the financial year ended 31 October 2022 will be published as soon as practicable ahead of the AGM. As a result of last week's announcement of the successful validation of the Company's "S+" Series fuel cell technology and associated update to commercial arrangements with ABB E-mobility, AFC Energy is working with its auditors to confirm the appropriate accounting and disclosures for the revised agreement within the accounts.

From your earlier post suggesting the Capex may be closer to $1.5bn rather than £1bn and then today to mention a placing may be needed, clearly you are a disruptive fool. You mention you work in the industry, which forecourt are you on.