Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
sham is correct they did announce that the capital raise would be used to reduce debt, but why they left the current account so depleted is anyone's guess. They have a separate bank account for the Sydbank loan and facility. Clearly Syd has blindsided them. My guess is the Syd want to negotiate better terms and hopefully not walking away. The company is effectively being run by the bank now. AIM should be overseen by the Gambling Commission rather then LSE.
What the company owes and to who is somewhat opaque to put it mildly. They have certainly burnt through a lot of cash. Apart from the Sydbank loan, it would appear that the some or all of the warrants have been converted and there is a loan from a main shareholder of circa £1m + interest, which the company proposed to pay back this year but I don't know if they have to or if it is secured debt. Lets hope the unsecured property valuation of £15m is realistic. If this was my business I would use the real assets to take out a secured mortgage and tidy up the messy existing debt arrangements.
sham189. Just checking with you. Weren't the 2023 warrants all converted to shares or are there other warrants due this year still outstanding. We need to be clear for risk of confusing those on this bb.
Stupmy. From the RNS: are expected to be admitted to listing on the premium listing segment of the Official List and admitted to trading on the main market for listed securities of the London Stock Exchange in the form of depositary interests at 08:00 BST on 24 April 2023
Mike, I don't know if this is the correct answer, obviously 15th and 16th are the weekend-so no trading. When trading there is always a settlement period, ie T+1, +3 etc. It maybe that the brokers need the 3 days for settlement and hence the cut off before the 17th. This maybe particularly relevant as they also have to account for exchange rates with this particular share. Wiser heads may have a better answer.
You can check the price of RIs on the TUIB ticker
Clank. Just to be clear, only 70m are being admitted to the London market, the remainder are in the German market, so our 'dilution' is around 22%. Still seems to be a mess, however.
The Sanctioned Entities hold 31% of the stock. Somewhat of a double edged sword however as they wont be contributing to the capital raise. Which ever way you cut it the remaining 69% of shareholders are dipping into their pockets for £1.8b, assuming they can afford it. As always its the PIs that take the personal hit-the big funds will be committing other peoples money!
Mine were credited yesterday, I trade with ii. Hasn't improved my average, unfortunately!
Similar in Sweden, quite a lot of very small trades. How odd.
Sami object to windfarms in Norway.
The two wind farms in question occupy land traditionally used by Indigenous Sami reindeer herders in central Norway. Their 151 turbines can power some 100,000 Norwegian homes.
But in 2021 the country's supreme court ruled that the projects violated Sami rights under international conventions. Despite this, they remain in operation more than 16 months later.
I believe you are correct Eric. Extract from the 24th RNS herewith. Kallak North Scoping Study Delivers Positive Economics
Beowulf (AIM: BEM; Spotlight: BEO), the mineral exploration and development company, is pleased to announce positive economic results from the Scoping Study for Kallak North, part of the Kallak Iron Ore Project ("KIOP") being developed by the Company's 100 per cent owned subsidiary Jokkmokk Iron Mines AB ("Jokkmokk Iron"), which boost the Company's plans to begin producing high-grade iron concentrate in 2026.
Eric. To all intents and purposes this is now a Swedish company. The SP in Sweden is at a considerable premium to here and the Swedes don't seemed to have reacted badly to the fund raise. Lets hope they know more than we do!
Easiest to just buy in the market @ 3.1p. Cheaper than the current SP in Sweden. Question is will Kurt ever bring in the bacon? PaulA, yes it will be a while before many of us return to profit overall, unless you're willing to take a large punt at the current SP. I'm trying to work out if being a BEM investor is more frustrating than being a Tottenham supporter!
Suzy. Although C&A have gone from our High Streets, they are still going strong in Holland, big store in Amsterdam. Nip over and treat yourself to a new dress or Rodeo ski outfit!
Lets hope so. These are so far down in my bottom draw now, they are below my C&A pants! Merry Crimble all.
A bit of info re Asset Match, which I have some delisted shares on. Buying and selling is through auction and has to be via a broker. These are the trading rules. GLA,
To buy and sell shares in this company via Asset Match Private Market, you will need to use a stockbroker.
- shareDeal active
If you are a UK resident, our main broker and settlement agent for all CREST eligible companies on the AM Private Market is shareDeal active.
shareDeal active provide a competitively priced service for both certified and non-certified transactions. You can open an account online or by post using the form provided.
Alternatively, if you already have an account with shareDeal active and wish to place an order please contact the Dealing desk directly on 01892 510515 or deal online.
To sell a share certificate, the easiest way to trade is to set up a shareDeal active account online and once open post your share certificate with a completed CREST transfer form. Alternatively, you can open an account by post using the Asset Match Certificated Sale Pack which includes everything you will need.
It generally takes 5-7 days for your account to be open and shares
The cash reserves are now irrelevant so far as the SP is concerned, the only issue that matters now is whether the company is going private or not. If it does you still have your shares but no real market for trading them. I've had this happen to a couple of shares, Leeds being one, which now trades on a specialist market place, Asset Match. It's not very exciting.
I know AIM is not effectively regulated but the company could now be bought or absorbed by the directors for £1m and the co. has £3.5m in the bank. Absolute scandal.
lbjj. Tory members voted in Truss to make Boris look good and now she is promoting Hunt to Chancellor to make Kwarteng look good. We are making Swedish politics look sane.