Member Info for Piltick

I hope they have more success with their IPO than W2T had.

I believe HUI are hoping for a grant from the EU.

I agree with all of that Dr.A!

I don't think it was ever PHE's intention to be its own "developer" or if that was ever their strategy it was a long time ago. W2T were supposed to be the developer and to seek funds through an IPO, for about a year or 18 months or so if I remember correctly, but they failed to do so even with the support of Peel.

Eventually Peel undertook to be the UK developer on condition that PHE bought out W2T, which it did. At yet, even after doing that, PHE had to lend the funds to the SPV so that long lead items could be ordered.

I can't help feeling that PHE has had a raw deal all round, but it seems to have the resourcefulness and stamina to keep going.

We, shareholders, deserve to be kept informed about timelines and what is going on, and the PHE BoD in turn need to be kept up to date by Peel. Given today's announcements, it's really no wonder that the shareholders on here are losing patience.

Yes Dr.A. I know how a SPV works, we used to call them Jont Ventures, then for some reason it was decided that that was old fashioned so it was given a new fancy name, probably adopted from the US!

But sometimes I get the feeling that some people may not have fully understood the financial structure that is being established here for the FOAK. I'm inclined to agree with those who suggest that PHE ought to have sought funding for the entire FOAK project, then we wouldn't have been held back while others tried to accumulate the funding for their share.

I actually believe that one of the main reasons, perhaps THE main reason, for the delay in achieving Financial Close is because Peel haven't been willing to put their hand in their own pocket and raise 50% of the equity for the SPV. They seem to be looking to get the funding for the FOAK from elsewhere, while PHE have raised funds to cover their share of the SPV.

They've raised £15M recently so I don't see why some people are saying PHE need to raise by a placing within the next 6 months or so. What is PHE going to spend it on?

LedZep, I rather like the first part of your sentence, "A lot of valid outrage about the delay in seeing the FOAK up..."
:-)

Although I'm clearly not happy about the delay until 2023, I'm more upset about the way it was announced, or rather the way it wasn't announced until now, and in particular the lack of explanation, and the lack of a clear timeline now that the announcement has been made.

Very poor PR in my view.

In that case, NH, it is conceivable that there could be further slippage into 2023. Perhaps that's what Tim is telling us?

fair question Mark.

Bring back Dave!

If this date is correct, I would expect some (many?) to sell out or substantially reduce, with a view to coming back in in 6 or 9 months time.

I did wonder if it was a mistake. Surely someone would have proof-read it before issue. But if it is correct, then that is a massive setback to the timeline.

11:00 AM.

https://www.protos.co.uk/plastic-park-consultation/

"Alongside the Plastic to Hydrogen facility and?PET?plastic?recycling facility,?which already have planning consent,?we are proposing to develop: etc...."

The "Plastic to Hydrogen facility" refers to the PHE facility.

I would have thought that it would be impossible to phase out coal production by 2025.

Thanks again LedZep. Good work! Certainly looks like something is about to happen.

This is not the company seeking to raise funds, this is the exercise of options possibly by a past director.

Excellent news!