Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
I see that the PHE web site still hasn't been updated for the latest TR-1s, but after these TR-1s the White family's holdings were as follows:
HW 1.92%
BW 4.82%
JW 7.78%
SW-R 5.42%
Family total 19.94%
So I don't know why any of them would be continuing to sell more now.
The RNS states:
" the Strategic Process will be conducted by the Monitor under the Court's supervision and will be designed to achieve the highest value available or otherwise best offer for the Company, its subsidiaries, and its stakeholders."
So initially they want to sell the company and it's subsidiaries, i.e. they want someone to make an offer to buy the shares of the holding company, or parent company.
But that might not suit potential buyers, who may not want to inherit any "baggage" associated with the companies. A cleaner solution for any potential buyer would be for them to make an offer to buy the assets of the Group of companies, and to pay an amount that would enable them to pay off all of RMM's debts, loans and creditors.
I think it all depends on what offers they get, and what potential buyers are prepared to do.
aandi, I am confident that the hydrogen supply issue will be resolved in the short-medium term. As demand increases, supply will rise to the challenge, and the cost per kg will fall as well. I think will start with depots for heavy commercial vehicles, and will grow from there.
testpack, have you watched the video about JCB's ICC using hydrogen as fuel?
https://www.youtube.com/watch?v=jxtxZY45RMM
Seafllat, HW explained in the interview why he sold shares. So long as he held over 20% he was restricted in having any involvement in the management or running of the company, but now that he is under 20% that restriction doesn't apply any more.
Yes you are right MJA, TBH I hadn't thought of it that way round! The trouble with giving exclusivity to Peel is that if they drag their heels on a project with say, a local authority, that restricts PHE from going ahead with the local authority without Peel.
MJA:
" As long as it only applies to Peel owned property. "
In that case they don't need an exclusive agreement. - if it's their site they can do what they want with it!
But seriously, reading today's RNS, it seems to me that there is a strong hint that PHE intend to develop the DMG on other sites themselves, or with other partners, which means that Peel's exclusivity agreement is, or will be, dead. Peel will still be a 50% partner in the Protos installation of course.
The next news that I'm hoping for is:
- Announcement that the Peel-PHE JV agreement for the SPV has been completed.
- Peel's exclusivity agreement - hopefully abandoned.
- Financial Close for Plot 10B project
- Announcement that specific contract signed with Petrofac for the construction etc. on Plot 10B
How much funding would they need to raise to pay off Newgen plus enough working capital to get back on the road? About $15Million?