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I'm only invested to the tune of £10k, but differently the world would look if the ML had been authorised.
Speedy why would you sell out now of all times? And at a loss? If you don't have urgent need of your money why sell out at this pivotal and exciting period in the company's development? To me it just makes absolutely no sense whatsoever, but if you're done here then good luck with your future investments
With low interest rates as they are, an apparent strong pipeline of projects and some valuable assets you would think borrowing would have been an option. I wonder if it was investigated.
jfk9,
I would suggest the seeming unavailability of further debt facilities gives a true sense of the value of those assets...Would you lend against defunct shipyards, to a company that is high on words but has yet to deliver anything, except a nice bump to the directors' bank balances? They didn't even know where they were with their own marine licence application. Remember too that Belfast is already hocked.
Doing placings gets you friends in the City...because they make money out of them......you never know when you might need to call on them again
Razor, I found your last post rather strange, if speedy decided to sell it was for good reason as the BOD have given "0" reason to invest, they offer a placing at a virtual 25% discount, you should ask why! if everything was rosy in the garden a 10% reduction would have been snapped up but considering JW's bonus from the last cash call they needed to make it attractive. the only thing that will turn this now is a MAJOR contract or BOD buying. I retain my holding in BLIND FAITH but my HEAD says sell. so much promise but also so much cloak and Dagger! AIMHO
" the BOD have given "0" reason to invest" Well that's obviously not true - we have a salt cavern awaiting the ML and have since bought H&W belfast, Appledore, Arnish, and Methil, and have generated maiden revenues and have billions in potential contracts in the pipeline.
"they offer a placing at a virtual 25% discount, you should ask why!" Because bookbuilds don't happen quickly at high prices?
If you believe JW is just some shady character out for bonus money and not to build this company then yes I agree - do sell up and move on. Good luck out there, it was nice talking to you. For the rest of us I am happy to wait.
If JW was truly interested in building this company he wouldnt have given himself a substantial bonus until it was covered by profit. You would put the company first and only when that is a success take a bonus. You would also buy up a lot more shares because it's something you believe in. I've only been holding for about 3 years and sadly it has not been a successful hold so maybe my judgement is clouded