Member Info for MyrtleMan

Interesting though that they say their banking partner is 'top 5' in the world.. so either JPM, GS, Citi, MS or BoA.. and not a Mickey Mouse small bank as we feared.. In fairness, a pretty logical and understandable explanation as well as to why they can't name them, their hands are tied by SEC rules re. fundraising for 'unlisted securities'.

Yet you still bought more GG? :-)

2.5m buyer at 2.28p. Some are happy to still pour money in to this.. who knows, maybe they know something, like we've seen in the past.. mightn't take much for them to double their investment at 2.28p..

4m shares trade after the close today. More than Henrik and Sanderson own in total..

Any news from the General Meeting?? Anyone go to it and have anything to report? Were they questioned on the placing, the annual results, the share ownership of the Directors etc? I did see this from their issued RNS, looks like there was only 18% take-up of the share offer from existing shareholders? Pretty dismal response from pretty psd-off shareholders if that is correct??

"The Company is also pleased to announce that, in relation to the Open Offer, which closed for acceptances at 11.00 a.m. on 7 June 2023, it has received final valid applications, including Excess Entitlements, from Eligible Shareholders in respect of a total of 14,127,961 Open Offer Shares. This represents a take-up of approximately 18.19 per cent. of the maximum number of Open Offer Shares available."

The Chief Financial Officer of VLS owns just 600,000 shares - 0.03% of the issued capital. Same with the two non-executive directors, just 525,000 each. Before this placing, where they were effectively forced to buy 400,000 shares each, they held just 200,000 and 125,000 shares each. Embarrassing show of support for the business they are working for. Most people on this forum own far more than they did. Pathetic. If they really believed in this company they'd be hoovering up shares at 2.5p, not just taking the mandatory 400,000 they were made buy.

Director/PDMR

Position

Existing interest in Ordinary Shares

Ordinary Shares purchased

Total beneficial interest in Ordinary Shares

Total interest in Company's issued share capital

Henrik Wareborn

Chief Executive Officer

2,318,445

800,000

3,118,445

0.18%

Philip Sanderson

Chief Financial Officer

200,000

400,000

600,000

0.03%

Philip Holland

Non-Executive Chairman

1,328,118

400,000

1,728,118

0.10%

Ann Markey

Non-Executive Director

125,000

400,000

525,000

0.03%

Tom Quigley

Non-Executive Director

125,000

400,000

525,000

0.03%

Two more big blocks of 1m shares traded yesterday, one over the placement price at 2.515p.. why wouldn't they wait and buy in the placing? Maybe they want more than they're going to be able to get in the placing? Will be interesting to see where this goes after June 9th and the placing is done, seems to be holding up reasonably well at the moment around the 2.40-2.50p level.

Not the point though Gary is it. Turnover may be just £200K, but these people are working to try to make the business work long-term. Or at least we hope. If you took that view to every company, then every small, start-up and embryonic stage businesses who either generate miniscule revenues or indeed make substantial losses are also behaving 'ridiculously'. I genuinely don't agree that the staff and management of VLS are there to just cream off nice salaries and bonuses and shaft investors, but do agree that they seem to really struggle to make an impact in the commercial world and with pushing projects forward. Hopefully some of these new hires will help address that.. A concern I do have though is, if you were a talented and successful project developer/sales director etc, would you go working for a business that seems to be struggling to survive? It'll make recruitment of decent candidates a little harder.

19m and 2.1m share blocks traded on Friday, reported after the close.. around £528K worth. Quite a chunk of change to be dumping in something that's going under. As I said a few weeks ago though, there is never any smoke without fire with this stock and clearly some new this fundraise was coming, selling millions and millions of shares all the way down to 3p. Easy money when you know it's going to be trading at 2.5p pretty soon. Crooks.

Placing completed, £6m raised. Also this:

As part of the Placing, Lansdowne Partners (UK) LLP ("Lansdowne"), a substantial shareholder of the Company and therefore a Related Party as defined by the AIM Rules ("Related Party"), has subscribed for a total of 48,000,000 Placing Shares at the Issue Price under the Placing. Following completion of the Placing, the Retail Offer and the Open Offer (assuming subscription for the Open Offer Shares in full), Lansdowne will have an aggregate interest in 303,156,632 Ordinary Shares, representing approximately 17.7 per cent. of the share capital of the Company as enlarged by the issue of the New Ordinary Shares (Enlarged Share Capital").

Certain Directors of the Company, being Henrik Wareborn, Philip Sanderson, Philip Holland, Ann Markey, and Thomas Quigley, all of which are deemed to be a Related Party pursuant to the AIM Rules, have subscribed for an aggregate of 2,400,000 Placing Shares at the Issue Price. Following completion of the Placing, the Retail Offer and the Open Offer (assuming subscription for Open Offer Shares in full), the above Directors will hold an aggregate interest in 6,654,896 Ordinary Shares, representing approximately 0.4 per cent. of the Enlarged Share Capital of the Company. A number of Velocys senior managers have also subscribed for in aggregate 1,000,000 Placing Shares.

Only positive I see from all this news, if they want to list in the US, it's good news... They must be confident of fortunes improving. Good to have a US green investment firm pony up $15m too.

"The Convertible Loan Notes have been structured to incentivise a US Listing of the Company, in addition to its existing admission to trading on AIM, within 21 months from completion of the issuance of Convertible Loan Notes to Carbon Direct Capital."

Big sales have been going through for weeks.. but also someone is buying them all. The two biggest trades today were buys though, of 400K and 265K. Looks like people don't put much stock in what Liberum have to say, they come out with a buy recommendation and the stock has two big volume days of selling.. what would have happened if they said 'sell'?? :-)

Over a million in sells this morning hitting the bid, chunky lots too. Good to see someone is sitting on the bid for decent size at the 50 day MA though at 3.55p ish. Hopefully he stays there and it starts to drift higher towards 4p (and the 100 day MA), where we might get some upward traction.

Have we just found out who their mysterious 'investment bank' is? If it's Liberum, that's pretty disappointing..

So we've finally broken out of the downtrend it's been in since the Sept 2022 highs, 3rd day in a row it's closed above the trendline. It's also printing a nice green candle on the weekly and monthly candles. The RSI is trending nicely higher and is at the highest level it's been Sept also. The MACD has turned positive.

It traded above for most of the day and closed above the 50-day MA today (3.57p). The 100-day MA is just above at 4.02p, and the 200-day is at 4.62p. 4p has been resistance in March/April, a push above that could see further gains to around 4.50-4-62p, a support/resistance area since June 2022 and the 38% retracement from the Sept highs to the recent lows. Above 4.62, 5-5.10p and 5.50p could quickly follow, then 5.94p and 6.95p.

It needs the positive news to keep flowing though to keep momentum, although I'm getting the feeling the seller that's been crushing it for weeks and weeks might be after backing off.. we'll see.. but two big block trades of 1.175m trades in the last two days are interesting..

Disgruntled ex-employee seems to be a strong possibility too given his knowledge of the field and the company.. pretty pathetic behaviour whatever the case. Get a life man.

Another 1.175m block trades at 1pm at 3.75p. Someone is accumulating. Could even be director buys possibly? That would show some belief/support from the board which we haven't seen since the fundraise at 8p..

1.175m block traded after the close yesterday.. and we might be finally trying to break out of the 6-month downtrend..

Having worked with spread bettors I'd take that IG info with a pinch of salt

And some poor sap got carried away and paid 4.5p this morning..