RE: Questions on defence in H of C today.21 Sep 2020 12:27
Chrisatrdg - In relation to your 11.59 post I would be very surprised if those questions are reached. Defence questions will not start until about 2.35 after prayers so they will only have about 40 minutes to answer questions until the topical questions will be asked.
triumph1 - In relation to your 10.58 ost in as far as it is disputing the viability of INFA I would disagree with your assessment. While you are right that the effect of Covid is to cause a downturn in the ferry industry that is not the only area that H&W are working in the ship repair business is still working. Indeed independently verified reports show that for the last couple of months the shipyard has always had ferries in for maintenance. Going into winter the ferry mantenance work is likely to increase. From my research I am comfortable with my investment in INFA. I am of the view that the broker assessment that by May 2022 INFA would have £17m net cash will turn up to be an underestimate.
Today's RNS is puzzling in the 23 June 2020 RNS it stated 'In addition to the extension to the MOU exclusivity period, Scott Bros has undertaken to enter into a legally binding option agreement, which, if agreed, will grant EQTEC and its partners the right, but not the obligation, to purchase the entire issued share capital of Billingham EFW Limited, the Project SPV, from Scott Bros, subject to agreement on consideration and other terms. The MOU extension announced herein sets out the intention of executing this option agreement within 45 days and that such option agreement, if and when entered into, will supersede all other agreements between the Parties regarding the potential acquisition of the SPV.'
Today's RNS further extends the exclusivity agreement by another two months to finalise an option agreement which in June was supposed to take 45 days. I would have thoought that some kind of explanation of what the issue is with the proposed agreement would have been given. As it is as I said earlier people might question the ability of EQT to execute the large deals. At present I am not doing so.
RE: Jobs targetting Defence and others18 Sep 2020 15:41
I note that one of the jobs is the Head of Business Development - Defence I wonder if this is a different post than the Director of Business Development - Defence. If INFA thinks it can afford both then they must be looking to get a lot of Defence business. I note they are also strengthening the Marine side as well.
whatamess In relation to your 10.41 post I am not spouting nonsense I used to work in a public law team so I do know what I am talking about. On a judical review application the court can make an interim remedy order to ensure the proceedings are not made devoid of any point as a result of the decision being carried out while the proceedings are going on.
I would be concerned if there was another extension in relation to Billingham as it might cause questions to be asked about EQT's ability to close the bigger deals. I have not been in the company that long to know if such concerns would be justified but if you get to the second and third extension those of a nervous disposition may start to worry.
Speedy_Gonzalez In relation to your 20.59 post I was aware that any challenge would have to be by way ofa JR application. My point was that the state of the court lists is that even a totally without merit application can cause significant delay while the court processes it.
piscio In relation to your 18.13 post I am inclined to think that all the parties are trying to settle this matter that is why we have a date of 10 December. I am unable to reconcile how the date of December was reached if the waiver of service was in September. If the matter is not settled by 10 December then Defences will be filed.
It is interesting to note that the other two Defendats are using the same Attorney.
Kingsmen - In relation to your 15.39 post the agreement between Peel and PHE is unlikely to be the cause of the share price going down. The reason I say that is because the PHE model is based on Peel developing all the enquires in the UK.
abdalian - In relation to your 13.50 post are ou referring to the shares that were issued last week or the warrants that were issued at the same time? They are not the same thing. I have not checked but if I recall correctly the warrants were only issued to Peel for a specifi reason. As faar as the shares ere concerned I do not believe any of them have gone into the market as they were all sold to investors who are either like the White family committed to the company or are holding them for tax reasons.
Norfolk95 -The link is to two documents one is a draft order the second is to a stipulation that all the parties agree to the order being sought. The order requires defences to be filed by 10 December 2020 and that the hearing on 8 October 2020 is set aside. So unless it is settled first all the defences have to be in on or before 10 December 2020.