Member Info for ocelot

Too many novice U.S. stock investors are making badly informed choices, a repeat of the 1990s run-up to the dotcom crash, former SEC chairman Arthur Levitt Jr. writes for Bloomberg Opinion. To fix this, regulators should chase rumormongers, evaluate day-trading platforms for psychological manipulation, make pessimistic public statements, and require "cigarette-pack-style" warnings against recklessness.

Another possibility is that they were approached by investors who offered to put money into the company.

Proceeds of £30k.

... as it (Angus) continues its evolution into a more broadly grounded Energy Transition company. We will be following with a comprehensive presentation to shareholders on the strategy, prospects and opportunities of the Company during the course of February and an investor call in the days following."

Wonder if the opportunities for an Energy Transition company are not becoming increasingly apparent.

Think the warrants form an integral part of the equity raise, which should be seen as a whole: placing at 1.00p, warrants at 1.20p, 1.35p and 1.50p, the total being nearly £3.5m.

Think the company is ambitious and in quite a hurry now and is scaling up in size, both in terms of debt and of equity.

Await figures for the geothermal project(s) with interest.

Yes, the warrants are all close to the current share price, so the raise is, in fact, nearer £3.5m than £1.5m (although not all warrant holders will exercise at the first opportunity, some will remain long-term holders).

Apologies for all my posts:

it's a big raise if one includes all the warrants, 300m shares by comparison to the existing number of 766.5m is 39.1%.

My impression is that they are very keen to get things moving forward as quickly as possible.

PPPS: if all warrants are exercised, I make the average price of the total raise to be 1.15625p

PPS: the share price is very close to 1.20p, so the placing is very close to being one of £2.4m.

PS: if all the warrants at 1.20p are exercised, they would bring in £900k.

Mirasol, they've raised £1.5m today and will raise almost another £2m via warrants exercisable between 1.20p and 1.50p.

Jamesthesecond,

The £12m debt facility only concerns Saltfleetby, it does not concern Balcombe and Brockham etc.

Seized the opportunity in that the share price was rising on the back of favourable news.

The debt facility concerns Saltfleetby, but ANGS's "current assets" include more than Saltfleetby.

My reading (as so often) is the opposite of Mirasol's, ie. it is precisely because all is looking good for the debt facility that ANGS seized the opportunity to raise some equity.

The Placing monies will be used by the Company to advance the Company's current assets and for general working capital purposes.

We can all read into that sentence what we want to read in it!

Gallifreyan,

If anything had changed since Monday's RNS, GL would have needed to inform the placees before they subscribed to the placing, so would have needed to release another RNS re the debt facility.

Probably because the £12m funding was covered in the RNS of this Monday morning.

From the RNS of this Monday morning:

"We are pleased to be moving forward with the Aleph Facility and the planned re-start of the Saltfleetby Gas Field, which in conjunction with the developments in the associated renewables projects, we hope will provide a major move forward for Angus as a disruptive Energy Transition company with production assets ...

The truth is Angus has become an ambitious company and needs the capital (equity and debt) to fund those ambitions.

The placing is almost a 20% increase of their equity base - wonder if any significant new shareholders came on board.