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Seems to me that the 81p takeover offer undervalues the company, so I'm going to sit on my shares for now, with the deadline for acceptances being early September (9th officially, a few days before in real life according to what ISA etc people have) - if there's some other company considering a higher bid they can safely wait until shortly before that deadline before revealing it, alternatively the 81p bid provides a floor price (so 80p now if folks are in a hurry). So I anticipate receiving at least 81p per share in the end; maybe there'll be a counter-bid to drive that price up.

Indeed. Off the top of my head I think cash in the bank accounts for about 30p of the share price (DYOR etc) so it's great that the market is now recognising the value of what the company is actually doing. I became a convert after seeing one of Dennis Schulz's presentations soon after he became CEO. As to shorts, I think Qube and Helikon will both be feeling the heat.

Possibly helpful hint re. short positions if you don't already know: Find them on the FSA website (search for "fsa short positions daily update"), it's an Excel spreadsheet where you can see the current and historical short positions in UK companies including ITM. As I write I don't see Qube or Helikon reducing their exposure... yet ;-) + someone else posted here that it takes a day or two for shorts to show up on the spreadsheet.

Looking forward to some price action after INSE's response document / RNS, particularly re. the sentence,

"In addition, the Inspired Board is in detailed discussions with a third party regarding a possible offer for Inspired at a price above Regent's Offer."

- I've increased my holding as a result, surprised that I could do so at an almost unchanged price (for now).

Interesting angle @smokeyjohnson108, I didn't know / hadn't considered that.

FWIW I looked back to see that Ecotricity's failed bid of September 2021 was at 400p / share, so the current 490p is not so much higher once inflation is taken into account; I wouldn't count Ecotricity out as a potential bidder just yet (esp. considering they have a large stake already, about 28% from memory).

Will 490p be the final number I wonder? I notice in the "Irrevocable untertakings" section that those lapse if a counter-offer above 539p occurs, I wonder if Ecotricity might be a counter-bidder based on their previous attempts to acquire the company.

Either way, I hope it ends up in decent hands - i.e. a new owner that will promote renewable energy.

@Therosy1: You reject this out of hand on the basis that it only refers to pumped [hydro] storage. The statement specifically mentions other technologies,

"Other technologies include liquid air energy storage, compressed air energy storage and flow batteries, which are currently in development and would benefit from investor support."

so GSF is not excluded from this scheme, although it will depend on whether GSF chooses to configure their battery installations for LDES. I recommend you re-read the statement for the full info.

Government "Cap and floor" scheme to support UK energy storage

https://www.gov.uk/government/news/new-scheme-to-attract-investment-in-renewable-energy-storage

...good to see that energy storage is now on the government's radar

@lovelyboy I'm guessing you didn't get along to the parish council meeting, but I see you have posted an interesting link on the CUSN board to the UK mining conference. In particular I see that there are site visits available to sites including Hemerdon (TUN) (11th June) which might be of interest to people here,

https://ukminingconference.co.uk/express-your-interest/

Another route to the video - https://www.youtube.com/watch?v=bmrvUwQNmso

(thank you, good find)

I notice that a Chinese company Betavolt is expecting to launch a small battery BV100 that has striking similarities to Stereax in terms of voltage and size (lower power output than Ilika though). Rather than being rechargeable it's nuclear - giving it a 50 year life, so it'll have a somewhat different, although overlapping usage profile. I don't see this as causing Ilika any difficulties, rather I see it as confirmation that there's a market in this space. The article is here on the Tom's Hardware site,

https://www.tomshardware.com/pc-components/power-supplies/chinese-developed-nuclear-battery-has-a-50-year-lifespan

and a spec sheet for Stereax is here,

https://www.ilika.com/images/uploads/general/M250_SPECIFICATION_V2.4_-_ENGLISH.pdf

Thanks Monty9 for the explanation of today's drop, it had been puzzling me.

@LWHL: Given that Ecotricity has tried to muscle in on the board (2017), make a takeover bid (2021), and retains 28.1% of Good Energy's shares ( https://www.goodenergy.co.uk/investors/shareholder-information/ ) I assume they still have a very active interest in the company. With the current price well below the September 2021 [failed] bid price of 400p / share, I feel the shares have a floor price close to the current price in the 'threat' of Ecotricity once again making a takeover bid: They remain in a powerful position to do so with that large shareholding.

With Toyota pushing solid-state batteries into the mainstream this hopefully generate a sense of "maybe Ilika are onto something" back here in the UK, so seems like a net positive for those considering investing in Ilika, also considering the patents you mention.

FYI here's an article I found discussing how Opentext is integrating Microfocus, perhaps of interest to anyone still visiting this chatroom,
https://www.theregister.com/2023/05/04/opentext_micro_focus_acquisition/

ITM's website has a helpful picture of the new planned building with the announcement, nice to visualise what's in the announcement,
https://itm-power.com/news/expansion-at-bessemer-park

I feel the share price drop to Jansen's comment is an overreaction; I would expect Ofcom to be more interested in 'running the numbers' than in interpreting statements like this, so I wouldn't expect their conclusions to change based on it... so I've picked up a few shares to 'trade' - sell again in a few days once the price has gone back up... but I'm conscious I've called such situations wrongly in the past.

From time to time I find it's worth checking on PFD's credit rating: Turns out it was raised last summer,

https://www.moodys.com/research/Moodys-upgrades-Premier-Foods-to-Ba3-from-B1-outlook-stable--PR_466590

(or search for "Moodys premier foods" if that link gets squished by LSE). Previous upgrade was May 2021, before that Sep 2020. So a steady improvement which is (1) a vote of confidence in PFD and (2) means that PFD can access or refinance debt at better rates. I guess Moodys come out with any changes in credit ratings a month or two after PFD publishes its final results for each year, so a few months to wait and see how they rate PFD this time...

GOOD already has lots of Feed-in-Tariff (FiT) customers/suppliers (see the recent RNS: 180,000), so despite selling off directly-owned generation assets, it's still a major player. Esp. worth noting is that the original (and to-date) model for FiT properties is that half of the electricity generated is 'deemed' to be the amount supplied to the grid, regardless of the actual amount exported or not. I guess that things have moved on and the technology is now better able to measure how much power actually gets exported, so great that GOOD sees that and is offering something to cater to it (esp. for people who are out during the day while their home's solar panels are generating electricity that's not being used in their own home)

Whilst the 2021 hostile takeover offer is fairly fresh in my mind, I got to wondering about the prior event. Looks like it was an attempt by Ecotricity to muscle in on the board rather than a full takeover, esp. see the RNS on 10th July 2017 "Requisition by Ecotricity of General Meeting", and/or checkout this article,

https://www.gloucestershirelive.co.uk/news/business/power-struggle-green-energy-tycoons-300394

(or search for its' title "Ecotricity acquires major stake in rival supplier Good Energy" if LSE suppresses that link)

also the RNS of 14th August 2017 with the board's recommendations to vote against Ecotricity's proposals,

https://group.goodenergy.co.uk/reporting-and-news-centre/regulatory-news/regulatory-news-details/2017/Notice-of-General-Meeting/default.aspx

Having held this share in the past I was surprised to rediscover it recently at a relatively low price so bought in. Meanwhile it seems to have some unique advantages - a clever position with Zap Map (although I don't really understand that market), and in particular a unique position in (and experience to provide) home generation with the new Feed-in tariff. Those both seem excellent. Whilst I regard Ecotricity as something of a wrecking-ball in terms of having now twice provided a major management distraction with hostile takeover offers, it nevertheless also provides a floor to the share price with the perception that they're likely still hovering, as speculated in this thread.

Whilst I'd hope to see GOOD thrive on its own, if it does get taken out by Ecotricity that would at least provide a good return on the current share price.