Member Info for StellaOne

Papajon - That is what concerns me. Is it just PI's that have shares, all under 3% and MM's who don't have to declare.

Not one TR1 has been issued for over 3%, why, if so much money is to be made here?

Vagabond72 - who is the Main Shareholder you were referring to yesterday?

Who is the Main Shareholder?

One thing is for sure, you are not making any money in this close trading range.

If it takes up to 12 months you can guarantee they will raise several times in that period. Increasing the amount of shares and diluting our holding to be worth a lot less.

That is not a deramp, it is factual when it comes to Aim companies.

Get Brewster, times it to perfection everytime.

We were valued a lot higher with the previous deal with Sembcorp, so why so low now, even considering the additional shares.

On the announcement of the previous deal with Sembcorp for 76billion per day, the share price rose to 0.042 with 1.29683 billion shares. Valuing the company at £54.46million, which also accounted for the debt at the time.

The current deal is for 111billion per day so 1.46 times better. However, we now have 5.7196 billion shares in issue.

So, if the better deal is 1.46 x £54 .46million = £79.52million but with 4.41 more shares in issue would give a market valuation of £18.032million or 0.031 per share, accounting for the debt but not the additional 15% when sold.

At the end of December 2025, the debt will be £6.624 million plus (if they sell the 8.5% for £60 million) another £9 million.

Henryb - thanks I've checked them.

Not very compelling that Nortrust reduced before the fundraising down to 1.07% and Kellys' has reduced to 2.35% due to dilution.

Who's picked up the additional 1.2billion shares?

Is it all down to MM's and PI's holding only, is that worrying?

Still no TR1's, so nobody holding more than 3%.

Is it just PI's holding stock?

Should this be worrying?

I assume MM's don't have to issue TR1's but surely, if not any of us, someone must own more than 3%. Why haven't we seen any TR1's, should this be a worry?

Was hoping to see who the many have more than 3% which may propel the SP.

They don't blackmail the company into issuing shares, they borrow them and once they achieve their low, they have to buy them back.

It's not that they are short of shares but that they are shorting the share eg. Betting on the share price going down.

Just being a realist.

How does me valuing the company at currently £18 million mean I've got a downer on the SP?

JohnWick1 - I am invested actually and hold just shy of 30 million shares.

I'm just trying to understand our current valuation against where we should be and where we could be.

I have tried to analyse the previous mcap when a deal was announced with Sembcorp against the current deal and mount of shares in circulation.

I would currently value us at £18 million with the debt, yet we're not, why is that?

With a farm out deal, who knows, possibly £60 million minus the additional debt exposure eg. 15% of any farm out deal.

So for clarity, very much invested and waiting for a farm out deal.

On the announcement of the previous deal with Sembcorp for 76billion per day, the share price rose to 0.042 with 1.29683 billion shares. Valuing the company at £54.46million, which also accounted for the debt.

The current deal is for 111billion per day so 1.46 times better. However, we now have 5.7196 billion shares in issue.

So, if the better deal is 1.46 x £54 .46million = £79.52million but with 4.41 more shares in issue would give a market valuation of £18.032million or 0.039 per share, accounting for the debt but not the the additional 15% when sold.

Carried out some research and EME does have debt, as per RNS dated 30 May 2023.

1. The face value of the Convertible Note has been reduced from £5.28m (accrued to the end of May 2023) to £4.6 million;

2. No interest shall accrue on the Convertible Note until 31 December 2023, with interest accruing thereafter at a rate of 20% p.a.;

3. The conversion price on the Convertible Note has been reduced from 8p to 2.5p per Share;

4. Unless otherwise required by the joint operating agreement entered into with Empyrean's licence partners (the "JOA") or with the prior written consent of the Lender (such consent not to be unreasonably withheld or delayed), Empyrean may only execute agreements for the sale of its interest in Mako (in whole or in part) if the terms of the sale provide for a payment to Empyrean at completion of immediately available funds and for a sale price of an amount that is at least the amounts owed to the Lender (as described in 5 and 6 below):

5. On a successful sale of the Company's interest in Mako, Empyrean must redeem the face value of the Convertible Note and pay the Lender the greater of (a) US$1.5 million or (b) 15% of the proceeds such sale;

So at the end of December 2025 the debt will be £6.624 million plus (if they sell the 8.5% for £60 million) another £9 million.

The higher the sale price the more the debt to pay.

Potentially still worth £45 million based on previous valuations on here.

But on the 4th June they held 352 million, so probably sold down their shares to re-buy in the fundraising.

Pied piper, 'with the debt they have to loan note holders', how much is the debt and where does it state that.

Eddy understood but surely the value of the asset was the same in September 2024, yet the market only valued the company at £54.46 million. Hence my reasoning of where the market would value the company.

The market valuation never seems to be rational, as surely if the asset is worth £200 million then we will be heading to 3.5p but just don't see it happening.