Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Testprick I wasn't referring to midlanders, I love the midlands and very proud to be a midlander it was the suggestion that all midlanders are yam yams that was the insult.
I'm happy with my level of education thank you very much and especially with my level of literacy, posting here proves that it is a very rare skill.
GLA
PS literacy is reedin and rightin in case you were struggling ;o)
Jones I know where the black country is and I don't live there, I do however live in the country hence my confusion.
Not all people in the Midlands live in the Black Country you know so please don't stereotype all midlanders with that insult.
I'm sure you are correct Jones, Rothchilds won't be running the sales process in the usual way they are surely just telling bidders to make a bid via Brian anytime they feel like it. I will take my lead from an exploration director who couldn't find a virgin in a convent and a poster who thinks the black country is 'Anywhere in the middle bit'
GLA
Jones there is no need for personal insults and I'm not sure what the colour of my skin has to do with it.
I respectfully disagree with you.
GLA
Agree Maldini. I don't think BM is as hapless as he pretends. I think his email was approved by JP as a way of providing an update. JP probably didn't expect that even this would be used to give a negative spin!
I still think deadline for offers is probably end of this month. If the deadline had passed and no offers had been received I think they would be obliged to RNS this information by now.
GLA
No Jones its not the same. By saying 'it is telling that after ....' you are implying that there would be an expectation of offers at this stage which is not the case.
That aside the more I think about what BM did say the more I think he over stepped the mark. By telling us that there were 10 interested parties I think he has given away price sensitive information (whether this was accidental or on purpose who knows) I am pretty sure the NDAs signed by all parties would include a confidentiality clause which would guarantee anonymity to IPs by telling us that 10 IPs went to presentations he is breaking that. I am sure the industry players know who might be interested by saying there were 10 will give them all a good idea of who the competition are.
I have been running a sale process for a much smaller entity than SOU (although some of the IP have market Caps similar to Sou) and confidentiality is key, there is no way we would share the number of IP with anyone.
GLA
Jones, this is very clearly NOT what BM said. BM said it remains to be seen if this solicits any offers. The implication is that the deadline for offers has not yet been reached. No one in business in a competitive environment would submit an offer before the deadline, anything could happen before the deadline.
There will be a deadline for offers (say midday 30th August) and i very much doubt any offers would be submitted before the morning of the 30th. Certainly if they were I doubt Rothchilds would tell BM, he has proven to be a very leaky vessel.
GLA
Did anyone seen Chris Tarrant on TV last night in Morocco? He caught a train from Ouija and went south and stopped at the station at Tendrara which was the site of a German Slave Labour camp in WW2. He then carried on South to some place I'd never heard of.
All interesting stuff and I'm sure there is a joke about slave labour camps and Tendrara but it would be in very poor taste.
GLA
Agree jack, BUT if there was a contingency element OR SM was separated off under the deal into Newco you would lose all of this if you sell out on any rise, although I accept this may also be reflected in the SP.
GLA
Assuming we get a offer that JP recommends what is the likely timeline thereafter? For example if the bids deadline is 1st september and we assume 1 month to negotiate the SPA then an RNS would land on 1st October......Then we would need an EGM to vote on the deal, is there a statutory period of time for an EGM in terms of notice given etc?
To achieve BM's 31 October deadline JP needs to get his skates on.
Also on a corporate governance basis how does the '29% salary reduction' work? Surely any change to remuneration needs to go through the remuneration committee and therefore should be transparent to the shareholders?
Not long now, hold onto your golden tickets ;o)
GLA
I’m not sure I remember the haribo at the gherkin? We’re they in the goody bag? I remember the mini fish and chips, befriended one of the servers and certainly had my monies worth lol.
Did they supply them from your chippy Jez?
Roll on financial legacy!
GLA
Gaspunter you must have the wrong person, I don’t think the end is nigh, well it is but in a positive way, I still think we will get 50p+.
I’m not the one moaning about JP.
Yes I was at the gherkin but I’m not stupid enough to take everything at face value and realise shares are a risk unlike some idiots posting here.
GLA
Hey Trade here’s a discussion starter for you: why are some people unable to take any personal responsibility these days? Why do some people buy shares and then blame the ceo while taking no personal responsibility for their own actions?
GLA
Yes this could be the reason why 'Newco.' was created earlier this year. It may be part of JJ's 'elaborate plan' to distribute sale funds on a tax efficient basis whilst retaining Western assets for shareholders?
Exciting times...just wish they would hurry up with it ;o)
GLA
Saw the email on FB looks genuine. Think BM is a bit too open in his responses. JP will probably make him wear the dunce's hat again after he sees what BM has done while he's been on holiday in Bognor.
Apparently the reference to 31 October was a joke about Brexit.
So it could be that the marketing process ended on 31 July and maybe IP have until end of August to submit bids or proposals. (pure speculation)
GLA
Unfair Trellis. I did not pick any transaction, I won't tell you which is mine but it's not significant in size. It was a buy and is showing as a sell. I am not ramping or deramping, I am pointing out how poor LSE is as an information source.
Don't tar me with that brush and do take your own advice and stick to wine.
I'm not sure I have any credibility worth retaining btw.
GLA
Trades are all to pot on LSE, loads of buys showing as sells, including my own!
LSE are rubbish.
GLA
JTF what happens to your thread about Sarah’s comment yesterday? Did you delete it or was it deleted for you?
They look totally wrong. Never rely on LSE for anything other than the Bants!
GLA
Jez I spotted the comment but gave it no credence. It could be true, it could equally be untrue. I think Sarah is intelligent enough not to say it by accident which is why I don’t think it’s true.
Still believe news will come end August or early September and still believe 50p+
GLA
It would be a lot less frustrating waiting if we knew there was a deal and at what price. Ie if it’s not all wrapped up by Xmas (pun intended) I would be much happier waiting till say February if I knew the deal was 75p a share, besides the SP would reflect that by then and I could at least sell a few shares to buy a chicken for Xmas dinner and some toys from Poundland for the kids. At the moment Xmas is cancelled.
GLA