Member Info for Southerhay

My first thought when seeing the annual report posted on the website was that there is no company logo ! Is this about to change under a rebrand I wonder ?

Taken directly from the governance section:

Our governance principles are:
• Equitable treatment of shareholders – We respect the rights of shareholders and help shareholders to exercise those rights by openly and effectively communicating information.
• Responsibility to other stakeholders – We recognize that we have legal, contractual and social obligations to non-shareholder stakeholders, including employees, suppliers, local communities and policymakers.
• Role and responsibilities of the board – We ensure that the Board has appropriate levels of independence and sufficient skills and understanding to review and challenge management.
• Integrity and ethical behaviour – Integrity is a fundamental requirement in choosing Executive and Non-Executive Directors.
• Disclosure and transparency – Material matters concerning the Company are disclosed in a timely manner to ensure that all investors have access to clear, factual information.

I too hope Strontium is on the road to recovery - best wishes from us all

Very positive that a well respected and household name like Schroders have decided to increase their holding. With climate change very much back in the news, I suspect they have a green fund that they are expanding and with AFC "on the cusp" :-) of commercialisation they will see AFC as a potential winner (on the basis they will have more inside info than us). BoD will likely highlight this news at the AGM.. Very positive move in my opinion.

I think we have every right to understand who is behind this company - it's all very well explaining how the loan notes will operate but AFC need to be more transparent about the backers supporting this loan mechanism. What are the FCA requirements in this area ?

I am somewhat nervous that there's seemingly no traceability to this Thalion outfit. A definite question for the AGM. The Proactive Investors article doesn't even discuss who they are.

Should we be nervous ?

Thanks for those 2 informative posts - what a waste of your energy !

Hi Mucksy - I also think hydrogen will eventually out strip battery in the mid to longer term. Have a look at the article below courtesy of Tetrolite on PHE board) with respect to transport vehicles

https://www.forbes.com/sites/alanohnsman/2019/04/14/can-a-15-billion-bet-on-fuel-cell-big-rigs-be-a-game-changer-for-hydrogen/#66c059e6fe4c

It would be natural to assume the price of hydrogen will increase as demand increases. Surely as demand increases, there will be an opportunity to increase scale of production of hydrogen with more innovative techniques developed ? That's the point we'll see the switch from fossil fuels to the hydrogen economy, if that is the direction we go in. Hydrogen is abundant after all

You have no purpose to be on this board with your absurd message headlines - you're on ignore and I suggest everyone else does the same - absolutely no useful contribution to make

Hi PurpleBagel74 - excellent, well balanced posts, thank you!

I too am reassured about the honesty and future direction outlined in these accounts. You’re quite correct of course in that it’s a reflection of last year’s position. There is clearly a huge amount going on behind the scenes and we now have a means to fund ongoing commercialisation and product development going forward. I now feel more confident than I have done for a few months. It’s still a long term hold. I’m prepared to wait

there must be a point at which use of batteries will tail off due to weight and finite raw materials to create them. Alternatives such as hydrogen fuel cells or a combination of FCs and batteries must be the way forward. We need a way to:
a) replace high polluting diesel lorries / buses / trains / ships with clean H2 FC engines
b) use existing infrastructure for convenient supply of H2 i.e. petrol stations
c) provide rapid charging for battery vehicles and combo FC/Battery vehicles
d) subsidise the oil and car sectors to quickly make the switch to H2

A massive task but it needs to happen quickly. Companies like Shell realise that their days are numbered unless they act quickly and diversify into alternative energy sectors.

Just my blue sky(?) thoughts :)

Morning all,

Hi Richlist - that's where my mind is moving to- yes you'd need it to be as efficient as possible upfront but if the cost of production is brought right down due to relative simplicity / low cost materials / recycling / mass production volumes then there my be a trade-off between longevity and ability to swap cells more frequently ?

20% up and here we are at the end of the day just 0.27% up. Someone explain please ?

Hi chippyjo - I know no more than we all know and the fact we still have insti investors who seem to have increased their holdings and DeNora/Advanced Plastics/Southern Oil all onboard and holding strong. I'm not here to endorse or criticise AFC's reporting actions - all I do know is that we don't have enough information to decide either way - on the basis our investors are still on board then I can only assume things are going reasonably well and today's RNS supports that

On the topic of board elections, why haven't I received any documentation ? I have a significant holding via Hargreaves

Then Clearly, AFC don't have any PLACE results to release as yet or, they have sought advice and are able to delay releasing to satisfy their goals. If the news was bad, and they knew how to remedy in the short term then you would just get on and fix it.

A good analogy - I feel like I'm sat in front of a 1000 piece jigsaw puzzle - with a blank picture ! :D

I don't disagree chippyjo - just thinking either AFC are being naïve in their commitments or deliberately (and legitimately) holding back the information to ensure competition is unaware of what we'll be commercialising. Once commercial, they could then have a glossy brochure with A/B/C products with efficiency/cost X/Y/Z etc.

I'm just trying to figure out in my own head what AFC are doing here. As I've stated in my posts, I know we are lacking substantial information but want to know why it's not available and when could it become available. We have DeNora and Advanced Plastics on board - they wouldn't be if we didn't have a viable product !

If AFC are advertising that we have new products being available, are we to assume that PLACE metrics have been met ? My thinking is why would DeNora and Southern be interested in our tech unless these metrics have either been met or are considered satisfactory for the purposes of sales or use in DeNora's products. Just a thought !

Hi Domino1 - you've been posting here for years - I do not you recall you EVER posting anything remotely positive about AFC. The SP hit 80p - you could easily have sold then if you are indeed a share holder. I'm all for constructive criticism but persistent bleating is laughable and suggests another agenda for your negative posts.

We are in commercialisation phase - it's not easy, it's not quick. We have a strong technical team that is clearly proving up the fuel cell to meet a variety of markets. Yes I want more news to ensure my investment has been worthwhile but I appreciate this isn't going to be quick and posting on boards like this will be laughed at by AFC who clearly do monitor this board. They've delivered a positive RNS today and I hope/expect moer will follow in due course.

Start smelling the coffee ! :)