Member Info for onsolidground

If Selkirk bid for Ingenuity on better terms I cannot see how it will not be made public.

You would have an Activist Investor in on the deal (Kelso / Selkirk) and who have shown that they are happy to speak out publicly. Others who have done likewise.

It's then falls to the Fiduciary Duty of the Directors and with anything MM then individually tries to do being seen as a potential Conflict of Interest.

Expensive way to be orchestrated imho. Setting up an Aim listed company up, appointing Zeus Capital as bookrunners, raising £7.5 Million for research / due diligence from High Net Worth individuals, Board structure in place...

No, this one's been set up for a specific purpose.

Why not THG. Look at the personalities and timing in all this, market for THG shares clearly broken, Ingenuity being taken private for a song, so THG part or whole has to be as good a target as any. Selkirk / Belerion might not get the whole for £1 Billion but 51% would suffice for a controlling interest. Nothing either stopping Not ruling out An other coming in behind them also (Apollo).

Just my thoughts.

Perhaps a little short sighted in perspective considering the markets that have now just opened in both the UK and Germany and it placing the company in perhaps the best position it has ever been in, and certainly since it was 400p and they raised £250M.

Share price presently 43p !!

Still oodles of cash on the balance sheet.

Very pleased for all AFC holders but into HSS Hire shops versus ITM supplying commercial scale electrolysers at say £5M a time to Large green hydrogen projects in the UK and the German National Grid and all the industrial / commercial customers I suspect may eclipse AFC by several multiples. ITM should imminently start to see a good steady conveyor belt of Reservation of Contracts, Final Investment decisions and full contract signings over the coming weeks and months.

Sometime I am a bit sceptical of say one Director buying shares in their own company but at ITM it's 6 buying and especially on this occasion, the ITM Directors have sound knowledge of what's coming. There were over 100 negotiations ongoing.

It's this paragraph that resonates for me.

"Selkirk will use the initial £7.5 million to fund due diligence on potential takeover targets. It is looking to take advantage of the so-called “conglomerate discount” where companies that sit within a wider group are valued more cheaply by the stock market, partly because investors are not convinced that they are being run as efficiently or with as much focus as standalone businesses."

I have to say it's hard to argue otherwise with that statement @THG, and maybe all those Kelso advisory suggestions - 95% of which were binned - might just come back to haunt someone.

Never a dull day @THG.

Its saying Selkirk is listing on Thursday this week

That Sir Terry Leahy will have a near 10% stake

That Ed Woodward - the Ex CEO of Man Utd will have a stake.

And get these 2 bits

That Oliver Helmsley the founder of Numis is taking a stake. (Numis - who Matt Moulding held responsible for the massive shorting attack on THG and who had to report itself to the FCA for factual inaccuracies they reported on THG)

Selkirk are targeting "conglomerate discounts" in companies. (Now where have we heard that old chestnut used before)

You simply couldn't make this up.

You couldn't make this up.

Kelso vocally challenge TGL in a no confidence vote at the AGM and now have Iain Macdonald, Angus Monro and Sir Terry Leahy all affiliated with THG in one form or another and all now backing the Kelso offshhot Selkirk Group in one form or another.

Can't be far off some next news and reveals on both THG and @ Kelso / Selkirk Group.

Backed the THG Placing and now backing Selkirk Group.

https://www.thetimes.com/business-money/companies/article/terry-leahy-backs-investment-company-selkirk-eyeing-subsidiary-takeovers-z63f26dbw

Highlighting M+S moving into Beauty instore and comparing it to John Lewis Beauty sections.

We incidentally are represented in several John Lewis store with the likes of Espa concessions and treatments.

Worth finding and reading for emerging trends and what competitors are up to.

I wouldn't bother watching the highlights.

Both Williams cars effectively written off in atrocious weather conditions. Never seen the Stewards so busy with adjudications.

Techtonic - never boastful being the one brave enough to say they invested when the share price was being caned - and imo against the newsflow at the time - which at that time was solely the prospects that will be coming out of the German "National" Grid announcement for ITM Power.

And just in context the bit you omitted to mention was the top up that I also mentioned on here at circa 40p prior - and which I was down on at the time. It's in my history.

At that time also appreciate that I also had no insight into the future and was unaware that the Labour Government would then kick start the Green Hydrogen economy in the UK with the Budget announcement of £2 Billion support for 11 Green Hydrogen projects - and then further that 6 Directors now would buy ITM shares with their own money.

Lastly for the news that has just broken I certainly would not be boasting about 3 or 4 points on the share price - and given it is just coming off 2 and 5 year lows with those breakthroughs stalled and lacking.

Digest the news which has just broken here in the last 10 days or so and focus on your own holding as that's the only one that matters.

I am always happy to spend a bit of time and share information that I have gleaned myself in light of current developments and updated information and to put it in context and to explain it as simply as possible for the benefit of others. Whom it has to be pointed out either might have only just come new to the bulletin board or were not otherwise aware of the information. Especially if that is now relevant again.

That is perhaps something that others with say over 5000 posts to their name on only the 1 share might have also considered doing for the greater enlightenment of all. Others track multiple shares on vast watchlists.

Jeff Mills seemed to get a similar post off a newly registered nom de plume - Aqua 12 - yesterday evening and here was his response to repeat baloney accusations.

"“spouting the same baloney” before when the German pipeline was only announced last week, the budget news hit yesterday, and directors just bought shares today?

Add to that 1 more Director buying shares and perhaps what might be some of the reasoning behind that.

So wind your neck in and if you don't like it then pop me on filter or book yourself a holiday.

Bulletin boards are for information sharing and discussion and that is what I will continue to do.

Have a nice weekend.

Shell and A N OTher

Trident Stacks on this on the Shell Refyne contract - 100MegaWatts

"We are pleased to announce that we have signed a contract for the REFHYNE II project, following Shell's recent positive Final Investment Decision (FID). ITM will supply 100MW of TRIDENT stacks and skids to the Shell Rheinland Energy and Chemicals Park in Germany. Linde Engineering has been chosen as the EPC integrator and will collaborate closely with ITM.

Doesn't State the Type of Electrolysers on this one.

"500MW Capacity Reservation

ITM is pleased to announce that it has signed a 500MW capacity reservation with a global industrial customer. This reservation secures future production capacity for the manufacturing of our state-of-the-art electrolyser stacks."

Already got the Hyrex partnership working on HAR2. From the Hyrex Partnership RNS.

"Partnership with Hygen for industry growth

ITM is pleased to announce a partnership with Hygen, being appointed as their preferred supplier for Proton Exchange Membrane (PEM) electrolysers for hydrogen projects within the UK and across Europe. Hygen's goal is to implement up to 200 MW of electrolyser projects over the coming years across the UK and wider Europe, utilising ITM technology and equipment.

The collaboration is intended to be formed of two phases:

· Phase 1 is expected to comprise 50 MW of NEPTUNE Plug and Play electrolysers across several projects, many of which will be based on UK government HAR2 or similar funding programmes

· Phase 2 is expected to comprise 150 MW of larger-scale modular electrolysers... "

The 11 Projects now kickstarted by £2 Billion of Government Funding had all gone through a lengthy process prior to get themselves selected - it was referred to as HAR1 - Hydrogen Allocation Round 1.

Be aware that applications for HAR2 opened in May 24 and the process is ongoing. (I personally expect Storeggas Speyside project below will be one such applicant)

Here's the 1st Two Strategic Objectives of HAR2.

"1.2 Strategic Objectives and Scope

Our strategic objectives underpinning HAR2 are as follows:

• Kickstart the low carbon hydrogen economy, helping meet the ambition of up to 1GW of

electrolytic hydrogen capacity in operation or construction by 2025, and by doing so

help grow hydrogen supply chains.

• Support projects to deploy at scale, advancing government’s ambition to deploy up to

10GW of low carbon hydrogen production capacity by 2030, subject to affordability and

value for money, with at least half from electrolytic hydrogen production capacity.

Feel free to read the full document.

https://assets.publishing.service.gov.uk/media/6604269ee8c442001a220374/hydrogen-application-round-2-application-guidance.pdf

This link also shows HAR1, HAR2 and HAR3 rounds so you know the 3rd also exists.

https://www.gov.uk/government/collections/hydrogen-allocation-rounds

By the way - this is just the for the UK.

Germany now moving forward.

I've tried to keep it simple but if you understand the context behind what the Labour Government have just kick started and that there is more to come under HAR2 and HAR3 and you might understand perhaps why 6 Directors just bought shares.

Always dyor.

£5 Million Euros (all bar €50) for 1

or £4.35 Million Pounds.

https://itm-power.com/products/neptune-5

Worth checking back on Shell Rhineland and the other capacity reservations @ITM in recent months.

The German National Hydrogen Grid btw is looking at 5 - 10 GIGAwatts by 2030. Plenty business for several.

The day of the Budget and the £2 Billion Government funding being announced for 11 Green Hydrogen Projects somebody kindly mentioned on here the Whitelees Green Hydrogen Project in East Renfrewshire as being one and where ITM Power are clearly linked with Scottish Power, since confirmed they are one of the 11 and ITM linked.

Here's another of the 11 approved projects that will be receiving their share of the funding. This time it's - The Scottish Power and Storegga’s Cromarty Green Hydrogen Project.

The Keypoints of this project are that is looking to grow the size and scale of the project further around a Hydrogen Hub and through successive phases. Starts with the likes of the Whisky distilleries of White and Mackay, Glenmorangie and Diagio and is looking to expand further into Housing, Transportation (air, sea, rail, road) Aquaculture and the Spaceport as you can see in the diagrams in some of the links below. All fitting in nicely with our ability to add in more hydrogen stacks.

Storegga are also in the midst presently of progressing other projects and they have another project, this time on Speyside (another good Malt whisky area) This one has just gone through public consultation a planning application is imminent in Q1 of 2025.

Some links

https://tankterminals.com/news/storegga-and-scottishpower-hydrogen-project-selected-as-part-of-har1/

https://storegga.earth/news/cromarty-hydrogen-to-kick-start-hydrogen-economy-in-the-north-of-scotland-with-government-contract-win

https://www.scottishpower.com/news/pages/scottishpower_and_storegga_form_green_hydrogen_partnership_to_transform_industry_in_the_highlands.aspx

https://www.scottishpower.com/news/pages/scottishpower_and_storegga_form_green_hydrogen_partnership_to_transform_industry_in_the_highlands.aspx

They Speyside project.

https://storegga.earth/en-gb/speyside-hydrogen

The Scottish Government wants 14 of these expansive Hubs btw.

Your money, your choice and always dyor.

Ah but the question is,

Were they crashing or just simply resetting themselves ahead of the Monetary Policy Committee meeting in the UK next week (7th November).

1/4 point or 1/2 point cut given CPI went under 2% and given the Labour budget has to be the question?

Saw the Red dots this morning and thought Selkirk had launched a bid for Ingenuity !!

Back up we go.

No seller yesterday. Just a treeshake to shake out weak hands.