Member Info for Piltick

Glad to be of help, sharesport.

Nice one!

Thanks for sharing Dr.A. DR always responds promptly to emails, I think he is good at communicating with shareholders.

What he says about the EGM is what I was expecting i.e. that it would be "closed" with votes from shareholders by proxy. On that subject, as my shares are held with Barclays in a nominee account, I contacted Barclays and asked how I should go about voting, and they informed me that if I phone them, or write to them, they will put my proxy vote forward to the company on my behalf.

So when I have studied the circular and made my decision, I will phone them.

Clearly I can't speak for any other brokers, but I imagine that they will all operate in the same way.

Considering the great deal that's being offered to W2T shareholders, I would have thought that they would have pulled out all the stops to produce all of the information that was required to get the deal done.

The Accounts for 2019 should also be issued by 30th June, and I would expect that they would wish to issue all of the documents at the same time.

I agree, it is possible that the arrangement will have been revised when we see the shareholders' circular. Hopefully not long now.

Sadly the trolls have destroyed the board on the other BB as well.

Hi abdalian, yes you are correct. PHE will receive £500k per annum for each DMG unit, with the first payment when each DMG unit becomes operational. You are also correct that the income from hydrogen and/or electricity will go to the Developer i.e. Peel, but bear in mind that as the Developer, Peel will pay for all of the capital cost and operating cost of the system.

At some point in the future PHE may take a share in a joint venture or SPV for the construction and operation of DMG units, but I believe that the initial 11 sites will be developed by Peel, as described above.

OK, I get it. Of course Im not sure how that would compare with 25 DMGs generating electricity, and that would be revenue for the developer/operating company. PHE would get 25 x £500k which would be £12.5M per annum.

Hi stokey, where did the figure of £40M annual revenue come from?

Here are a few numbers, just for fun!
What they appear to be looking for:
- processing 450k tons per annum
- generate electricity for 20,000 homes
- capital cost of plant estimated at £300M.

So I reckon that 450k tons could be handled by 25 DMG units of 50tpd capacity, just about.
Assuming that each 50tpd DMG unit could generate 4.8 MW of electricity on a 24/7 basis (I'm sure someone will correct me on this if I'm wrong) then that would generate approx. 120 MW on a constant basis. NB: That's without producing any hydrogen, electricity only.
Now I reckon on 10 KW required per house (again correct me if I'm wrong) so the total requirement would be 200 MW.
On that basis the 25 DMG units would fall short of the power requirement. But if that is the case I would question how they are going to produce enough power for 20,000 houses from 450,000 t. of waste by any other means.

I don't know what the capital cost of a 50 tpd DMG unit might be, but using an estimate of £11M each, plus £50M for buildings and infrastructure, that would come to a total of £325, which isn't very far off the stated £300M.

Might be interesting, but I wonder what processing method they have in mind already, incineration perhaps?

You're right Austin, that would be an ideal situation for dealing with the massive plastic islands far offshore in the middle of the Oceans. A similar idea to the old Russian Klondykers with their huge factory ships and smaller catchers, around the UK coasts in the 1950s and 1960s. I remember them well!

Fishing trawlers might be better for fishing the plastic out of the ocean.

Interesting, because I believe that the lease was initially agreed with W2T.
My word, there are some massive plots there!

TBH I don't really mind if they do, because I'll just top up!
Yes, I'm just being selfish!

I agree stokey. Last year the accounts were released on 27th June. The shareholders' circular will certainly have to contain the audited accounts for 2019, and I would also expect an updated set of draft Management Accounts of some sort, as this is really information that shareholders would require in order to make a decision about the take-over. And of course up-to-date accounts for W2T as well, even more important! So the timing of all of that would seem to fit in towards the end of next week.

operastar: This may help:
When someone holds a warrant at an agreed price (e.g. 0.5p in this case) then within an agreed time period they can exercise the warrant which means they can pay 0.5p to the company and the company will issue them with a new share. This is a new issue share, not bought in the market.

So if the market price goes significantly above the warrant price, then it is beneficial to the holder to exercise the warrant, pay 0.5p (or whatever the agreed price was) and receive a new share from the company, which they can immediately sell in the market at the higher market price and make an instant profit.

So the company benefits because they receive some cash for the share, and the holder benefits because they make some profit.

Right!

RH69, this wasn't a share issue at the behest of the BoD in order to raise funds, it was to cover warrants as requested by individuals who were holding those warrants.

If this goes down much further I might be tempted to top up!