Afc Energy Share Discussion Threads

[beeezzz] 08/10/2014 17:11

I love this paragraph, they must think we are complete muppets, if they think I'm buying shares 10p when the share price is 10p they can forget it, where's the premium, none thats what you get from rubbish management. Well there's your reply from IW hope everybody likes it!!!!!!!!!!!

"The open offer is proposed to be conducted on the basis of 4 open offer shares for every 23 existing ordinary shares held by qualifying shareholders, with the opportunity for qualifying shareholders to apply for additional shares not taken up under the open offer by other qualifying shareholders."

I will be ditching these on the first piece of good news that is for sure, this will be my last AIM share, there is completely no regulation whatsoever.

[fludde] 08/10/2014 17:09

Yes, a remarkable coincidence. And the seller can buy back almost twice as many shares in the placing. What a stroke of luck ;o)

[skinny] 08/10/2014 17:04

My point in post 4627!

[fludde] 08/10/2014 17:00

Much higher volume of sales from 29th Sep onwards. Wonder who knew about this over the last week or so......

[badger010776] 08/10/2014 16:52

The only thing presented to these investors was AFC bent over with cheeks spread. Could not make this up. I'm absolutely stunned by this move. I thought better of this bunch I really did.

[realism] 08/10/2014 16:48

I would be interested to see what was presented to those investors

[skinny] 08/10/2014 16:35

That wasn't leaked then! Bloody AIM.



AFC Energy (AIM: AFC), the industrial fuel cell power company, is pleased to announce a conditional placing with institutional and other investors of up to 52,000,000 ordinary shares in the Company at an issue price of 10p per share to raise up to £5.2 million of initial proceeds (the "Placing"), including a placement of 22,000,000 ordinary shares with Lanstead Capital LP ("Lanstead"), further described below. In addition to the Placing, the Company proposes to raise up to a maximum of £3.88 million by way of an open offer to be made to all qualifying shareholders in the Company of new ordinary shares of 0.1 pence each in the capital of the Company (the "Open Offer Shares") at the issue price of 10 pence per share (the "Open Offer"). The maximum aggregate value of the fundraise is therefore £9 million.

The Open Offer is proposed to be conducted on the basis of 4 Open Offer Shares for every 23 existing ordinary shares held by qualifying shareholders, with the opportunity for qualifying shareholders to apply for additional shares not taken up under the Open Offer by other qualifying shareholders. The Company expects to be in a position to announce further details of the proposed Placing and Open Offer shortly.
As part of the Placing, the Company announces that it has, subject to the signing of definitive documentation, agreed that 22 million new Ordinary Shares be placed at an issue price of 10 pence per share with Lanstead (the "Lanstead Placement Shares") for an aggregate consideration of £2.2 million. In addition, the Company will enter into Equity Swap Agreements with Lanstead which allow the Company to retain much of the economic interest in the Lanstead Placement Shares. The Equity Swap Agreements will enable the Company to secure much of the potential upside of future potential share price appreciation arising from the Company's development.

The Equity Swap Agreements will provide that the Company's economic interest will be determined and payable in 18 monthly settlement tranches as measured against a benchmark price of 13.33p per share (the "Benchmark Price"). If the measured share price exceeds the Benchmark Price, for that month, the Company will receive more than 100 per cent. of the monthly settlement due on a pro rata basis. There is no upper limit placed on the additional proceeds receivable by the Company as part of the monthly settlements. Should the measured share price be below the Benchmark Price, the Company will receive less than 100 per cent of the expected monthly settlement on a pro rata basis. Of the aggregate proceeds of £2.2 million (before expenses) from the issue of the Lanstead Subscription Shares, the Company will use approximately £330,000 (15 per cent.) for investment in its continuing operations and £1.87 million (85 per cent.) for investment in the Equity Swap Agreements as described above. In no event would a decline in the Company's share price result in any increase in the number of Ordinary Shares received by Lanstead or any other advantage accruing to Lanstead.

Ian Williamson, Chief Executive of AFC Energy, commented: "We are pleased to announce that we have arranged a significant funding package for the Company. Importantly, the package is being structured so that existing qualifying shareholders can participate in the fundraising on the same terms as institutional investors in the Placing. In addition, through the proposed Lanstead placement, the Company has the opportunity to benefit from further appreciation in its share price over the next 18 months. This funding enables us to deliver our Power Up project and continue our plans to open commercial markets."

[the stigologist] 08/10/2014 16:27

Lanstead !

[holism] 08/10/2014 09:47

Yes beeezzz, no idea whats going on. Its my view that we should concentrate on the matters in hand i.e. the delivery to Germany. If Ian is right and the company should now move from an R and D company to a manufacturing company how many of the current staff are really necessary. I think Gene Lewis is redundant. He has little to offer if Ian is right.The savings could be enough to accelerate progress with less needed from the market.

[beeezzz] 03/10/2014 22:21

TT...Whatever he says won't change the situation company now finds itself in, as Korea orders did nothing, only a big pile of cash landing on their headquarters will change things.

Whats happened to this power-up grant no news no idea whats going on.

[trotterstrading] 03/10/2014 20:59

Beez, over on iii someone posted a response from CEO IW, he said work progresses 'positively' he also said will provide update via blog shortly.

[beeezzz] 03/10/2014 16:42

Well, as far as I am concerned the company knows exactly what is going on they're just not going to let PI's in on the news until it hits 10p or lower who knows now.

Unfortunately those who put AFC holdings into their ISA account will not be able to offset losses against profits that is one of the downside of ISA's, so maybe selling off before greater losses.

[beeezzz] 03/10/2014 11:46

Nobody here seem concerned about the slide in SP, one thing we can be sure of is somebody knows something and it doesn't look good IMO.

[beeezzz] 02/10/2014 11:30

Well we seem to be attracting buyers at these levels, volume up over million traded so far, spread has reduced considerably.

Thank goodness I moved some of my holding over to VSL.

[beeezzz] 01/10/2014 21:32

I've given up waiting, these companies are not pushed hard enough by shareholders to get there finger out and state more realistic time frames so investors can make better assessment of future revenue.

To be fair I expect they are working bloody hard they know time is running out and it doesn't matter how many options they award themselves if the company fails, not that its has cost them anything. Just move on to the next venture.

I noticed the darling of AIM has fallen from grace ASOS!!!

[norbus] 01/10/2014 17:40

Not all AIM is a disgrace : Look at AMS ;

AIM has one major fault: there is no one to look out for Investors if the board is incompetent or sharp

[risk1] 30/9/2014 22:33

Funny they are awful quick to say no reason for share price increase ie anr today

[beeezzz] 30/9/2014 22:15

Sadly, there are far to many companies on AIM that never seem to succeed, well probably not in my life time.

They just drift along in a vacuum gently teasing more money from their shareholders as and when they can't afford their pay cheques.


If the government want small companies to grow into large companies employing a large workforce they need to do something about the AIM market it's just not working.

What am I talking about the government haven't a clue about creating jobs or supporting fledgling companies.

[striebs] 30/9/2014 15:48

TrottersTrading ,

I completely agree .

41p to 16p over the last year .

Maybe they are gearing up for a heavily discounted placement from their mates or a few gratis Chelsea tickets .

The company seem to have treated this whole thing like a school science project .

Think they may have spent too long in a green echo chamber and need to venture outside into the real world .