The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Extracts from the latest RNS. Eqt 'look forward to finalising' the appointment of a new Nomad before 31 January (not quite a done deal yet) - but Oscar Leiva was until recently a Director of one Company now in voluntary liquidation and another undergoing insolvency proceedings!!! As a former lending Banker this would be of interest and raise a question or two in my mind (as it does now).
Nomad update
The Company is pleased to confirm that it is finalising the appointment of a new Nominated Adviser and looks forward to concluding the appointment prior to 31 January 2019.
AIM Rule 17 Update
The Company also announces the following changes in information in relation to Mr Oscar Leiva, a Non-Executive Director of EQTEC, pursuant to AIM Rule 17 and Schedule Two, Paragraph (g) of the AIM Rules for Companies:
Oscar Leiva was a director of Syngas Italy SARL until August 2018. Syngas Italy SARL entered voluntary liquidation in October 2018 and the liquidation process is ongoing.
Oscar Leiva was previously a director of Tnl equipamientos ambientales SA resigning in September 2018. In November 2018, Tnl equipamientos ambientales SA commenced insolvency proceedings, which are still ongoing.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
Interesting thought process Italian - and of course I do respect and understand your decision.
Given that the Nomad appointment must be made before the imminent deadline I would have though that you might have hung in here till then - if suspended (which I consider unlikely) I too will be thinking long and hard but with all the positives vibes will probably decide to sit back and wait for relisting. Too early to bail out in my opinion despite all the concerns we probably have deep down.
Other posters have regularly pointed out the massive potential upside and lendersseem happy so I will not trawl through that again.
GLA - each to his own
Minor note of caution - 10% is still a high risk return to the Bank in these time of low interest rates generally. 15% was almost extortionate by comparison. Eqt have clearly won their credibility with the Bank though.
Just musing out loud. There are many large corporations out there who could just fancy little old eqtec and it's technology - now the ball has started rolling with more contracts to come. Eqt is under capitalised really and relies currently on borrowing - the big players may see the long term and have available working capital to fund thise contracts to come. Just a thought but again a very positive one either way you now look at eqt.
Congratulations to all those who had the belief. The derampers and liars are getting their just rewards - a royal stuffing.
We will no doubt see profit takers now but to hang on tight to our shares could bring far bigger rewards - much more to come now the ball has started rolling and the momentum should increase.
GLA
If a Banker was worried but legally committed to the terms of a loan facility letter they would insist that the capital repayments were met as detailed in that facility letter. In simple terms they would be recovering as much of the advance via repayments before the company ran out of cash (for example if no contracts providing revenue were signed) or went bust.
The point is that if a Banks customer is complying with the terms of a facility letter (and there will be many, including meeting repaymrnts and interest the Banks hands generally are tied - but they would not be prepared to give a repayment holiday if they smelled something wihich could cause failure/foreclosure.
In this case the Bank seems happy to extend the period before repayments are required because they recognise that contracts will come and that eqt will then have a decent revenue stream to start the repayment programm and also cover the interest.
If this is the case here, and the Bank has more to lose than us of course, albeit not their 'personal' funds, perhaps we shoukd also have some confidence in our investment.
I would suggest the repayments are delayed in order not to use working capital and then have to borrow more as time goes on to make up for the funds so expended on those repayments. No doubt eqt will be covering interest in the meantime, probably out of thr loan monies advanced, and will make repayments from expected cash flow when the contracts kick in and provide revenue and profits.
Quite normal to take repayment holidays IF the Bankers are happy to sanction.
Slight back trackingI feel in your pidt I detect. No odds offered either!.
You suggest ‘we will see’ so why not keep your educated points to yourself and wait and see!!! Judt stop ramming your negatives down everyone’s throats.
For the fun - say 10 days fior Nomad confirmation - then around 2 week for 10m contract. Thus early/mid Feb. Any odds being offered (to win or lay)? i wonder if our well known rampers or derampers would pin their colours to a mast and make odds available to us all (no limit on stakes) - I guess not! All mouth and no b...s
Fair enough Jeremiah point taken - Prem have Assets perhaps but no action and no belief offered to long term investors by the Ceo. China's comment really sums it up.
I only threw in the note on Prem's sp move to compare the anomalies on AIM - I am much more interested in ARCM's future