Hydrodec Share Discussion Threads

[capricious] 14/11/2013 08:59

In this instance it isn't the brokers, it's the registrar, they have some rule or historic process, that means money is returned 10 business days later. I wonder if we can get the small interest back while it sits in one of their accounts.

[capricious] 14/11/2013 08:56

Lol, sorry Alan, yes you will be pleased!

[eclair] 14/11/2013 08:51

Charles Stanley told me on Monday that I would get the refund 'shortly'. Still waiting.

[david77] 14/11/2013 08:39

I've got a Charles Stanley Direct Crest a/c (was Fastrade). I've got my excess allocation but no refund of cash balance yet.

[themariner] 14/11/2013 08:37

FYI - I applied for substantial excess, made sure there was cash for the whole amount, got scaled down but SELFTRADE have not re-credited me with the balance due yet. I've raised it, no reply. Annoying, as I would be topping up too.

[alanrussell] 14/11/2013 08:27

Can I look?

[eclair] 14/11/2013 08:20

tongosti,

I think I misread what you said. Are you saying that HSBC didn't apply for the excess shares for their clients because less than 100% applied? Did they tell you this up front or only after you queried why you hadn't got any? Presumably then, they didn't even take any money from your account at the outset?

Disappointing in the extreme however you look at it.

cap, I still have no refund. Annoying because share price going up after announcement, although it may well flush out a few more profit takers.

[eclair] 14/11/2013 08:11

tongosti,

Did they take the funds out of your account when you applied and have they now refunded it all? I agree with cap - HSBC have got it totally wrong. Have you got an explanation from them in writing? I think it is still worth pursuing.

[capricious] 14/11/2013 07:48

Sorry to hear that, I can't believe that is the way they have handled it.



On a better note, the news continues to come thick and fast... can't keep up, felt sure things would be a breather.

[tongosti] 13/11/2013 22:48

They haven't lost it as they were aware of my excess no of shares requested capricious. They said that excess shares would be allocated only if all other hyr holders of hsbc would take 100% of their entitlement. This has not happened and that is why there was no excess no of shares requested by hsbc as a designated nominee. Painful lesson so I am now considering closing my stockbroking account with hsbc and open up one with another provider which gives me direct crest access. Very disappointed ...

[capricious] 13/11/2013 22:04

HSBC have got that totally wrong, somewhere they have missed your excess application.

[tongosti] 13/11/2013 21:06

Very strange then. Thanks a lot

[bdroop] 13/11/2013 20:51

hi I use redmayne Bentley and all worked as it should I got my automatic allocation and the 60.2% as planned, so HSBC does not appear consistent with that.

[tongosti] 13/11/2013 19:21

does any one hold a stockbroking account with hsbc? i just learned that i have been allocated 0 excess shares. hsbc holds that 100% of their hyr holders have applied for their shares hence no excess share allocation. i find it incredible to believe so am wondering whether somebody else is having the same issue? cheers.

[capricious] 13/11/2013 16:10

To correct some posts I made before

It wont be Hydrodec or even Peel that would be dealing with funds, rather it will be the registrar, and they will act according to rules that govern such things.


Of course my broker blamed it on Hydrodec, so at least they are consistent with the duff info!


It is frustrating as the share price is at the level I am comfortable buying (12.3-12.5), it may well drop further but I would've taken that as part and parcel of making a decision.

Since the money may take longer to arrive, getting other funds is the only option


I see the share price has moved up a wee bit

[eclair] 13/11/2013 15:15

cap, no refund for me yet.

[dirty75] 13/11/2013 12:51

would have thought Peel Hunt would have a note out after a fund raise, anyone seen/heard of? Great piece in City AM yesterday re Essar teaming with HYR.

[capricious] 13/11/2013 11:20

I've been told funds might could be the end of this week or longer, haven't heard here that some of you have your refund, so assume the situation is the same for all.

[capricious] 12/11/2013 14:08

Don't look at the monitor, we'll tell you when it is above 13p again



I've been reading the note from Edison and recent RNS.

A few interesting points, one of which I missed

1) Carbon accreditation, "The methodology (CDM) has been approved".

I missed this, if I've read it correctly this is great news. The links below are those found on the hxxp://cdm.unfccc.int site. Couldn't find one that says it was approved and the final element is submitting complete documentation and or final approval etc.

hxxp://cdm.unfccc.int/filestorage/q/y/K1BAW74325OEHFL9RQCVTXMSG8PI0Z/Transformer%20Oil%20Re-Refining%20%280313%29%20Small%20Scale%20PDD_Indonesia.pdf?t=VW98bXc1a2E1fDCPtqefpMybO3tBePPUpPOr

hxxp://cdm.unfccc.int/filestorage/2/c/C5BXTSQ07IO8H1R26FYD4KGUAJ9WL3/Waste%20Oil%20Re-Refining%20%28140313%29%20methSSC_form05.pdf?t=NDh8bXc1a2dsfDDBHeBaSfQX196v_RQ4GS4g

hxxp://cdm.unfccc.int/filestorage/k/a/DQW8RJXICVN03AFMOUL7259SE14YKP.pdf/Preliminary%20recommendation%20for%20SSC-NM089.pdf?t=Qll8bXc1a2o5fDDyfHMkX0QTos7siBePIOJS


2) Edison assumed a 60% offer take up and final fund raising of $34.1m (includes $12.5m debt swap) - we had 140%, so this figure is nearer to $36m*. Not massively different, but does add to the working capital. They'll need as much cash as possible with the cost of UK (transformer+industrial oils) construction, near $22m. Some of which will be financed against assets.

* on the one-hand Edison mention $34m, in another paragraph £24.1m, mixing currencies. Even the higher $36.1 dollar amount doesn't = £24m. Anywho, you get my point, they have more cash than the conservative estimate.


3) Bearing in mind that Edison has proved that they have good communication lines with Hydrodec, and probably knew the details of the Essar deal, if not the exact name, under additional programmes they list Japan with a non Kobelco partner dated at H214. Seems a very close estimate if it is a wild stab in the dark...



I've said before, but I think if their process gets the seal of approval from UNFCCC, it goes well beyond the simple equation of carbon credits. Gaining the accolade of being the first accredited zero carbon oil refining technology, would be a massive PR boost. Surely this would attract more partners that may want to license the technology.

I wonder if part of the PR offensive, they can get a mention somewhere on TV or an MP using it as a UK growth story in green tech. Much better than the expensive subsidised windmills that they use as a poster child. Something that requires a backup power supply, is uneconomical without heavy subsidies, and as they are just finding out, doesn't have as long an operating life as first estimated.


Ok found the link re: methodology approval
hxxp://cdm.unfccc.int/methodologies/SSCmethodologies/pnm/pending
and
hxxp://cdm.unfccc.int/methodologies/SSCmethodologies/pnm/byref/SSC-NM089

statuses
14 Mar 13 - Submission received
27 May 13 - Successfully passed the Completeness Check
27 May 13 - Submission deemed qualified
27 May 13 - Undergoing desk reviews by experts
24 Jun 13 - Opened for public comments
08 Jul 13 - Desk reviews completed by experts
08 Jul 13 - Awaiting the SSCWG recommendation
09 Jul 13 - Closed for public comments
11 Sep 13 - Awaiting Project Participant feedback on the preliminary recommendation
24 Sep 13 - Clarifications received from project participants
23 Oct 13 - SSCWG recommendation issued (C)


Currently it is not 'recommended', so that doesn't bode well for final approval, but since I know very little about the approval process I may be wrong.

Seems the level of complexity and that the Hydrodec process doesn't produce more than the baseline comparison. I.e doesn't produce more than virgin oil extraction... er I'd say that is impossible... and that users of the waste oil (incineration), would be deprived of the oil if it was rerefined!

[alanrussell] 12/11/2013 13:50

Well that's my roundup purchase done - watch it tank now!

[capricious] 12/11/2013 12:45

Lol, yes long has it been the case, that the better the progress, the worse the share price

This time with no debt load and funds for expansion, things should be a bit different. Importantly those institutional wanting to invest in Hydrodec, have done so and there shouldn't be any significant buying at a 'target price' that the brokers facilitate.

Even more importantly, as we finally move into profit as the expansion stages come online, the share price will reflect this.

[dirty75] 12/11/2013 12:29

still no funds returned here either, frustrating as wanting to load up. There is bound to be a slight knock back in share price as you only have had to have 1 share in ownership and you could apply in the open offer for 100,000's + and no doubt there be some nicking a few quid including the MM's who would have had some on their book. Only HYR would raise a ton of cash, knock out the debt, BOD put more PA in and annouce a huge deal with Essar Energy and the share price drop !!!! One day.......patitence will pay off.

[capricious] 12/11/2013 12:23

I agree, and I don't mind if it is Hydrodec taking time to work through the backlog, but take exception if it is at the broker end, I had to give the funds two weeks ago, so to me this is a relatively long time

[alanrussell] 12/11/2013 12:13

Cap,
Nope (with TDW) but we really have to give brokers a bit of time. A few days isn't going to make a jot of difference.

[capricious] 12/11/2013 12:05

www.businessweek.com/news/2013-11-11/essar-energy-to-re-refine-oils-at-u-dot-k-dot-plant-with-hydrodec-group