Member Info for Setanta1

MT T, thank you for your collaborative and very cogent post at 14.32. I think you and I have, more or less the same opinion about the events that led to the collapse of the SP in Feb March, and the defenestration of broker and Chairman. In any case what is clear is that the Marine Licence was allowed to fall into abeyance and we are still paying for that in SP terms.
I am concerned that the H&W rescue may be an unnecessary vanity project and I am even more concerned about the possible acceptanc of the Meridian FSRU project before we have commenced building at IM.
The market has given it's response to the way in which matters have been handled and it will need some really sustained and very positive good new to change that.
Tango 1, thank you for posting the latest Daera situation in relation to the Marine Licence. However I have some doubt that the remaining activity can be concluded before the year end. I hope I'm wrong about that. As to your analogy about INFA being like a safe with multiple possible keys : I don't quite see it that way. There is only one key, the grant of the Marine Licence. That will unlock the safe and all the other outstanding issues too. Gentlemen, go well,

Thank you for your responseBrews , MR T, and spud.Before I make any comment I'd like to make a few things clear.
My greatest interest in INFA lies in the SP. That SP is more or less the same now as it was 2 years ago. So no progress there!
7 investors hold , more or less, 20% of the shares in INFA. I'm one of them. All seven are now showing a loss from their investment. There is not one institutional investor holding shares.
There was one spike in the SP, in February 2019 and at that point the"stalwarts" ( as someone on this board called them ), sold out. They were aided with some broker information and possibly some from an "insider". The SP collapsed and it has never recovered. A key factor in the sell off may have been related to the Marine Licence. My impression was that JW was not aware of the crucial importance of the licence .
Since February we have had sundry placings and consequent dilutions. That has ensured that the SP remains stagnant at best.
No company or financial institution has any binding commitment to INFA. If Vitol,(for instance), had such a commitment they would have made it possible for INFA to borrow the recent £700K on decent terms.
INFA has recently entered a new and somewhat disquieting phase. The are rescuing H&W which will alter the company completely. I make no comment on the wisdom of the action. They are talking to Meridian about buying a FSRU which will entail raising around £300m and they still havent been able to give assurances about the £250 m they need for the IM project. Remember this is a £7m market cap company which struggled to raise £700k!!!
Lastly, the BOD are very slow to provide any important information. They have never even told us that the Marine Licence was the sine qua non of all progress. Let them be upfront about the Debt and Equity situation. Repeatedly saying "at an advanced stage" answers no questions whatsoever. Let them tell us exactly where we stand with the Marine Licence. Let them tell us why they have been unable to nominate a Chairman in over six months. Let them tell us how secure is the Vitol commitment.
For starters truthful answers will enhance the SHARE PRICE. That's what interests me!!

I dont't know why so many posters are obsessed about delays in provision of the EU funding. It will come soon.
I am a lot more concerned about the Equity and Debt Partners. JW reported in April that they had completed their due diligence in April and that INFA was in advanced discussions about the relevant deals. So far, (six months later), we've heard nothing. Now that does trouble me, especially when we have just had to accept a dreadful deal to raise £700k in a placing . I,d like to know the reason for the delay!

Today is the last day for completion of due diligence for the Barrow FSRU. So INFA must declare it's intention or seek an extension.Similar delay will probably be sought when the H&W date arrives. More of the delays referred to by Olderand wiser. The EU funding is now so delayed that it is rarely referred to, except by posters on this board who seem to spend all their time moidering about it. The last 15 posts yesterday referred to it. Wouldn't it be good to see some positive news that didn't have a negative affect on The SP!

I read Olderandwiser's Sunday 20.58 post with great interest. More or less, he got it right. Huge dilution over the past year and a half or so and we still rest with very important matters to complete.
The facts are that no company has an irrevocable commitment to the Isalndmagee project. Vitol haven't committed to putting up any finance and ,although we've heard a lot of talk no debt or equity provider has been identified, much less shown us the colour of their money. The latest dreadful Riverfort finance deal is a very dilutive disappointment. It is all the more surprising when INFA is discussing the raising of hundreds of millions and it can only raise £700k on such awful terms!

What has been clear since the "stalwarts",(someone called them!), sold up in JAN -FEB with some advice from a broker and perhaps from "inside" is that the Marine Licence is key to every important facet of the Islandmagee project. No licence equals the" delay, delay,delay"that O &W refers to. In the meantime we have become involved with two more projects which demand extra millions of finance. I don't, in principle, have any problem with that but I would like to have seen the Islandmagee project much closer to FID first, although that may have been difficult to accommodate in realion to H&W.

We haven't had a RNS in the passt year that has had a substantial and sustained upward effect on the SP. Our BOD,(short for JW), looks to be proactive and hard working but it doesn't appear to understand the AIM market. AIM is for today. That's it! Any uncertainty and the holders of any particular share suffer.

What is likely to happen next? 1. INFA will declare a failure to meet due diligence in H&W by the end of the month thus putting the remaining 2019 finance back to the end of December. 2. The EU finance will marerialise before the end of this month. (And, more hopefully), thereafter the new Chairman will be named as the the Marine Licence is granted and the Debt and Equity , (a lot of that I think), step up to the plate. Well I hope so!
This post should be read with a reread of Olderandwiser's post of Sunday 20.58.

That is the element most required urgently required now . The Islandmagee part of that should be satisfied when the Marine Licence is granted and the H&W element may well be satisfied even sooner. In both cases JW has assured us that those negotiations are at "an advanced stage". The EU money will go a long way to help with the next tranche of the H&W payment due on 31 October or,more likely, that will be deferred to the "backstop date" of 31 December upon a failure to complete due diligence by the earlier date.
I was disappointed with the affect of the Riverfort finance on the sp which would have soared without that complication, but I am now more confident than I have ever been of the ultimate success of the Islandmagee project.

What has been ailing the INFA sp since the "leak " and the subsequent manipulation in late February. It would seem that it was all related to the Marine Licence which was then being messaged as a major flaw.
It's now clear that progress with Vitol and offtake, as well as debt and equity provision, are all contingent upon the granting of that licence. So is the final acquisition of H & W. Hence the lack of sustained progress in the sp despite the brilliant and astonishing good news we've just had.
Thanks to spud, Speedy G, ban4118, and others for their excellent media research which has revealed all. Their contributions have also demonstrated the clear optimism of JW and his fitness for the job he is doing.
I would guess that the Marine Licence is the only remaining substantial risk factor. Once it is granted the buyers should flood in. It all looks good!

Issuing the RNS seemed to make little sense unless it was pointed at the declaration inherent in it that the Draft Gas Service Agreement would be declared completed on or before 30 September. One can only hope that JW wanted to advise the market that this was the case without making any direct reference to it. That would allow for an orderly SP increase this week,(and it still may happen), rather than the "stellar" increase mentioned by kibuc.
Also it is clear that the majority of the big trades made today were related to administrative share activity,(eg rollovers etc,) rather than to more speculative share trading activity. Let's see what tomorrow brings!

Nobby31. I have felt for quite some time that the Sp was being suppressed. That is apart from the shennanigans of Jan-March 19. It seems very likely that we are now entering a crucial stage in the forward momentum of activities so one would expect to see some frantic buying.

Difficult to understand the rationale for today's RNS. The items covered are relatively unimportant and the RNS states that the items scheduled for completion in September are still on track. The most important item will be the draft Gas Storage Agreement which will bring forward the Equity and Debt negotiations which are currently at an advanced stage. It will also almost certainly presage the appointment of the new Chairman.
Also difficult to understand why the RNS led to a fall in the SP. There was absolutely nothing negative there and one would have expected a plethora of buys. Hard to understand the reaction.

Apologies, I had missed out the 11September RNS which clearly explains the activity of Zark Capital as a provider of funds for shares at 7p. The recent Peel Hunt activity still leaves me perplexed.

The investments by two brokerage companies, (one of them rumoured to be for sale), in ADME surprises me somewhat. Between them they now hold 26% of the company. I have difficulty in believing that they are acting in their own interests. The recent activity of Peel Hunt in ADME is very odd. I think it strange that two brokerage companies are so invested in a company whose proximate intention is to raise funds, presumably at below the current SP. Can anyone explain the oddity? It could well be that I am missing some important point!

INFA has some very positive aspects just now :
1. A very low market cap when related to expected revenues and profits.
2.A sideways sp movement just waiting for news which will trigger a breakout.
3. The offtake partner for the entire Islandmagee project has already been agreed.
4.The Equity Partner negotiations are at an advanced stage .
5 EU is funding imminent.
6.A very timely and necessary project with a management team which is already examining at least on further project.
Soon, I think.

has several compelling aspects :
1. An extremel

kibuc, i completely agree with the second paragraph of your 11.08 post.The effect of a no news RNS can certainly reduce interest in a share. And new blood.(in terms of shareholders),is needed here. JW stated on the 8 March that the search for a new Chairman was underway and was expected to be resolved within 3-6 months. We have now passed the six month time scale and the only news is that the appointment has been added to the "milestones".
Including" Final Tidal Report" as a milestone is ridiculous. My firm hope now is that JW doesn't decide to hold another shareholder evening or give another interview to repeat what we already know because the effect of such activity is usually to strain investor credibility and damage an already fragile SP. I sometimes feel that JW,(brilliant CEO that he is), isn't really up to speed with the machinations of AIM.

At £1 will raise about £1.8m. It all looks good!

Nice to know that the equity funding partner has been selected,(better still if they had been named), and good to see that the Marine Licence is progressing.........But otherwise there isn't any really exciting news in the RNS.
The Chairman appointment has been delayed and so has the receipt of the due EU funding. The problem with RNS's which show delays or which stipulate timing for important events in months to come rather than in the immediate future is that they tend to affect the share price adversely. THIS IS AIM !! Investors don't put their money into companies which indicate good news in several months to come. They wait and see! And some current holders have reasons to sell. All of which suits the MMs down to the ground.
INFA needs new investors and todays RNS isn't going to incentivise many of those. Looks like the LTH's are just going to have to wait longer. And continue to believe!

I listened to the interview again 54titles and the more i hear it the more I see some very imminent good news on the horizon.
We're in Chairman appointment time which will jump start all sorts of good news in relation to debt ,equity,Fid etc, etc. And the EU grant can't be far off. Then look at the current SP at £7M market cap. In the interview JW suggested a future MC of over £100M! What am I going to do with all that profit from my very substantial holding ! Eh, Dawski ?!

We are now in the last days of the six months posited by JW for the appointment of the new Chairman.
Bearing in mind that no party has an absolutely binding commitment to combine with INFA it would appear logical that the Chairman appointment will be approved by the offtaker or the debt or equity provider. Thus I see that appointment as the beginning of all the activity leading up to FID for the Islandmagee project.
I imagine JW will wish to maintain his timeline in this important matter. He only has a few days to comply!!

There is no real attempt being made to make a market here. Quite the reverse. The market is being deterred by the use of occasional 1M and 2M sell trades and by maintaining a wide spread to deter buyers. So the background forces are still at work. Next week may see a change to encourage buyers.

Tango 1 thanks again and I'm happy to let the matter go now. In any event I believe Snowman has covered it very well. Thank you for that Snowman. By the way I think we may see some new old posters here soon. Just a guess but not entirely uninformed!