My question was as follows:
If and when the participation of one or more significant international investor(s) is agreed, how will that work in practise? Does that mean UKOG will be remunerated for managing the submission to the first hydrogen storage allocation round and the acceleration of its project schedule?
But if all of the preliminary work has been, and is being, done by UKOG, it is unlikely a significant international investor would expect UKOG to supply its services without remuneration.
"The Company is also in discussion with several significant potential international investors with regard to their participation in the Company's hydrogen storage project". (the GM RNS of 01/02/24)
If and when the participation of one or more significant international investor(s) is agreed, how will that work in practise? Does that mean UKOG will be remunerated for managing the submission to the first hydrogen storage allocation round and the acceleration of its project schedule?
In theory, before the overhang clears definitively, cheap buyers will come in to benefit from the bounce on its clearance.
Given nobody knows the size of the overhang, all one can do is keep a close on trading for signs that the overhang is dissipating.
Apart from the Supreme court judgement, the big unknown is the state of discussions with significant players re Portland: only management is in a position to assess how close a player is to coming on board.
Unfortunately, the HH decision is proving to be considerably more difficult than that on Rwanda.
"A final judgement will likely be handed down in late Summer/early Autumn once Lady Justice Rose and Lord Justices Kitchin, Leggatt, Richards and Sales have considered the case". (RNS of 21/06/23)
At least 10 months will have elapsed between the hearing and the delivery of the judgement.
Options Award
The Company has granted 30 million share options under the Company's existing Employee Incentive Schemes (the "Options") to employees of the Company.
The share options to be granted were proposed by the remuneration committee and approved by the Board. This reflects the management's efforts in achieving successful operations at the Company's wholly-owned Saltfleetby Field.
The share options have an exercise price of 0.67 pence per share (being a premium of 36% to the closing price on 18 January 2024) (the "Exercise Price") and vest as to 100 per cent., upon the closing mid-market price of the Ordinary Shares being 0.67 pence per share or above (being 36 per cent. above the Exercise Price). The options have a 10 year term from the date of issue.
Last placing: 585m shares
Since its announcement, in the 12 sessions through to yesterday's close, 578m shares have been traded on AIM.
This figure excludes the volume dealt on Aquis.
It's as if CMC had itself subscribed to a large chunk of the placing and has ever since been re-placing them in the secondary market.
The Company has been informed that Richard Herbert, Chief Executive Officer, on 16 April 2024 bought 5,000,000 Ordinary Shares of 0.002p each ("Ordinary Shares") at an average price of 0.5 pence per Ordinary Share.
Richard Herbert's total shareholding in the Company is therefore 8,300,000 Ordinary Shares representing 0.02 per cent. of the Company's issued share capital.
If I remember right, it was in the webinar that tax loss carry forwards were discussed.
They are being used but, from the next financial year, management needs to give thought to the company's tax exposure, which is one of the reasons they may make an acquisition outside of the UK.
"- This LoI will also assist GreenRoc secure further development finance" (from GROC's RNS video).
Enterprising of US EXIM Bank.
Repayable over a maximum 5-year term, so provides a significant boost to the financial credibility of Amitsoq from a prestigious source.
Has this initiative "launched" the longer-term financing of Amitsoq?
"- This LoI will also assist GreenRoc secure further development finance" (from the RNS video).
Enterprising of US EXIM Bank.
Repayable over a maximum 5-year term, so provides a significant boost to the financial credibility of Amitsoq from a prestigious source.
Has this initiative "launched" the longer-term financing of Amitsoq?