HUI. Shareholding percentages do not equate to value creation.14 Jul 2025 18:05
The claim by @red_hornet that HUI’s director shareholding offers protection or incentive to drive value for ordinary shareholders doesn’t hold up under scrutiny. Yes, Aleksandra Binkowska reportedly holds 163,161,041 shares, equating to roughly 40.81%. But this isn't new — her holding has been at that level for well over a year with no associated delivery of commercial operations or revenue-generating infrastructure. Similarly, Steven Giles at 18.51% and Conrad Griffiths at 9.09% bring the insider control above 68%, and yet the track record remains unchanged: numerous fundraises, no functioning plant, and no industrial partner ready to deploy the tech at scale. Howard White — often portrayed as the visionary behind HUI — holds just over 4.2%, far from a controlling or transformative stake, and notably silent when it comes to tangible commercial outcomes.
Here’s the real issue: shareholding percentages do not equate to value creation. We’ve seen time and again that insider-heavy boards can suppress progress by resisting external input, failing to attract institutional partners, and relying on continual dilution of the public float. The 73.19% insider control described in this post is not reassuring — it isolates the company from capital market discipline.
Compare that to Powerhouse Energy (PHE), where the model is transitioning toward structured, third-party project financing rather than equity dilution. The Ballymena project is being developed under a Design, Build, Operate/Sell framework, with hydrogen offtake and feedstock already identified, without burdening shareholders with capital calls. Moreover, PHE’s 2.5TPD unit is now saleable, replicable, and verified via the Feedstock Testing Unit (FTU), offering a true plug-and-play model, not theoretical promises. This is what serious progress looks like.
Until HUI can show even one built-and-commissioned site, these posts amount to little more than misdirection. Focus on delivery, not declarations.
A concentration of insider ownership doesn’t automatically equate to shareholder alignment, especially in companies where execution has lagged for years. The dilution record and delivery void at HUI speak far louder than any shareholding stat. Investors should demand results, not spreadsheets. If nearly 75% of the company is in the hands of a few, and progress still stalls, the issue isn’t ownership — it’s accountability.”