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but i do. There's a lot of excitement because INFA has raied £6m,(before expenses. How much?), but inter alia our BOD has agreed to pay the maintenance costs of Harland and Wolff up to 5 December ,(£500k), although we are not yet the owners. And if the deal is not completed before the beginning of January we will pay another £500K. So taking all those costs into account we will be lucky to have £4.5m available from the placing. 25% spent for nothing!
We should be excited. We now have Institutional shareholders. But we haven't been told who they are!
Contracts for our soon to be shipyard? Well let's wait and see! Shipbuilding as has been suggested by some here? I double doubt it! Savings on our other upcoming projects? Well we'll see in due time and that's assuming that those projects come to fruition
Look, I know that there are positives being suggested by this acquisition but there are enormous risks and cost attached. Still it's not so bad. The SP only has to rise 500% to be where it was in January. Now that IS a verifiable fact!
Hi Setanta,
I completely understand the pessimism, and you are correct only 500% to go to get the sp back to those dizzy heights.
However look on the brightside, Infa a company valued today at barely £5M has raised £6M on the market and attracted some II's, I don't think in 20 years of investing I can remember an achievement such as this. I fully expected the bookbuild to fall short, and may have had to be cancelled altogether, I was wrong and I was amazed at how quickly we raised the £6M.
For me this would indicate the selling of this to the market must have had some hard numbers attached to it, why else the fast completion, it is not as if the placees could sell their shares back into the market for an instant profit as the sp was already at the placing price. You as well as I know how these usually work, the sp is .050 the RNS is announced, placing at .030? then you can be sure the shares will be disposed of rapidly for a quick buck, result, larghe fall in the sp.
I will now await the completion of this placing and the acquisition to be completed, then we can start looking at forward costs offset against incoming contracts, as I said before, there must be many and not just the IM project, why else would II's stick in £6M, certainly not based on the IM project alone funding H & W. Risks, costs, I agree, but I'm prepared to give JW the benefit of the doubt here for the next few months at least, I'm very interested where this could lead to! contract announcements also will be very telling?
Mr T
Communication to SH has been poor agreed and I also am not overly joyed but what has been achieved could be the turning point, For a £5m macap company to raise £6m in hours is impressive, and it would not have been raised if the purchasers did not have faith (and to be fair that is their day job- not us pI's- so they know what they are investing in) if anything it should be a MAJOR buy signal to investors. I understand some peoples glasses are half empty probably due to the trend of the SP but when something comes along that can transform the SP it should be embrased not slated. AIMHO
After the 2nd RNS added 800k, there has got to be something very compelling for JW to have succeeded got this placed. Correct me if I’m wrong but none of those nasty warrants attached.