Member Info for MPO818

Ogggs you asked "define free float" read on:

Free float is generally defined as the number of outstanding shares minus the number of shares that are restricted from trading. This restriction comes from the fact that these shares belong to strategic investors who do not usually negotiate their holdings.
In the case of AFC the shares owned by ABB are considered restricted

I suggested earlier that CNA could avoid taking on customers from failed energy suppliers - Ofgem select a supplier from those companies who put themselves forward to accept them as the "supplier of last resort (SoLR)" however, Ofgem has the following power.
"Ofgem may appoint a licensed energy supplier to act as a SoLR whether or not they consent to that appointment."
Furthermore they continue to insist on maintaining the "price cap" so strong well run suppliers could equally go bust. CRAZY.

Maybe CNA should be saying to Government "we have hedged enough gas for our customers" and can stand to comply with the "price cap". The customers of collapsed firms are not our problem. Brings to mind the Government forcing Lloyds Bank to take on The Halifax at the time of the financial crisis.

Fuelcellinvestor (great name)
The difference between the two is significant, ITM has arrived commercially (although just scratching the surface) and is supported by significant backers. It has less shares in issue 550.66m with 331.91 in free float so only 60% of its stock is floating around the market with the other 40% tightly held.
AFC (following two large raises in the last 18 months) has 734.43m shares in issue with a free float of 690.07m so almost 94% of its stock is floating around the market. It has nearly as many partnerships as John Lewis (Joke) and a sale to Extreme E. An Aussie CEO who has never invested a penny of his own money, takes a huge salary and has free options coming out of his ears - So what motivates the guy.

Chrysaor a private equity backed producer reversed into PMO and renamed the company Harbour Energy.

I note that they are pulling out of the Sea Lion project and further projects in Brazil and Mexico. They also reiterate their desire to increase their oil and gas reserves - maybe they could be looking at JOG they took out Premier Oil - a reverse TO to get their listing.

Desertwolf
That’s a good question, maybe Haggis could provide valid reasoning, or maybe bumble - they think the sun shines out of AB’s you know the rest.

It will be interesting to see how many customers are moved to CNA. With the recovery in the oil price the contribution from Spirit will also be interesting. With almost no debt the share price may well recover far faster than first thought.

These additional option awards are an insult to LTH's in AFC - read carefully the wording the striking price is 16p, furthermore 25% of the total vests in March 2022 provided the underlying share price is 27.6p not a lot of incentive there. If the options were not deemed worthy of issue in 2020 why are they worthy now - well they raised more money - lets just give it away.

In addition, the Remuneration Committee has approved a transitional award (the "Transitional Award") to Adam Bond and Jim Gibson in recognition, inter alia, that no new option awards have been made to them in recent years. The Transitional Award is being made on the bases that would have prevailed had the award been made in March 2020. Pursuant to the Transitional Award, Adam Bond and Jim Gibson are receiving 2,250,000 and 984,375 nil cost options respectively. These options have a benchmark price of 16 pence. Below a threshold price of 27.6p no options will vest. At this threshold price, 25% of the maximum award will vest and this will increase linearly up to a fully vesting price of 59.7 pence per share. Providing the thresholds have been achieved, the options will vest in two equal tranches in March 2022 and March 2023 so that each executive will now have LTIP incentivisation awards tested and vesting annually over the next three years.

The Transitional Award is deemed to represent a related party transaction in accordance with AIM Rule 13. The directors who are independent of the Transitional Award, being all the directors other than Adam Bond and Jim Gibson, consider that, having consulted the Company's nominated adviser, that the terms of the Transitional Award are fair and reasonable in so far as shareholders as a whole are concerned.

Without any news, this company manages to start each day in the red - it's so predictable - once this rising market turns (and it will) this could easily go back to the 40's. Very disappointing.

afish
In your post Arden mention a sp of £7, I've read the Finncap update and they come in at 483p and mention an ongoing oil price of $55 a barrel - does this account for the difference?

Opened the week at 59p, announced yet another partnership agreement and closed the week at 53p, that progress for you. I am comforted by Haggis’s posting that by 2050 there will be 950 million electric vehicles world wide - great, many of us will not be allowed on the roads, if we manage to be still around waiting for a card from her majesty.

Dick - it would be good to hear your spin on the price action witnessed this week.

Having started the week below 110p was expecting some weakness ahead of the weekend - not happening, maybe an update imminent.

Or is the saying pies - Adam of all trades, or was that Jack - These will not be "this calendar year" customer. So maybe some more to come.

Just another 7% off - so is it back to the 40's

An all positive RNS, what's not to like, funding for Dundas (with 3 interested parties) looks nailed on. Exciting times ahead.

A few large trades this afternoon and a couple of price extension RSN's into the finish.

Athansius.
I prefer your scenario - transformational would become very apt, we can but dream.

Lets assume it drops tomorrow, and its half decent, sp shoots up 20% - WOW sp now 68p and still 30% below the Christmas 2020 price - hardly transformational is it.