I3 Energy Share Discussion Threads

[caters] 12/10/2018 15:18

Does this mean that the current potential JV is dead?

[caters] 12/10/2018 15:11

It may be more than £1 - depends on the terms I suppose. I really hope it is.

options:

What's cheesed me off with these options is that MS had a good case for options but no one else did.

If there was a option plan for staff that doles out a small amount of options each month, then fine, but this does seem like privileged feasting on the carcass of a low share price.

[nametrade] 12/10/2018 15:06

caters,

We were at £1.20 with no deal... that seems a bit harsh...
But £100 million market cap on funding...
don’t think so...

[che7win] 12/10/2018 15:03

Does Neil keep his previous share options now that he's stepping aside as CEO?.At the end of the day, the company directors have taken advantage of the share price decline to set share options at a very advantageous price for them.It is our fault for letting the share price fall to this level, I'm peeved off at that.I expect a £100m market cap on a decent funding deal.Management have every incentive to get on with the job.

[caters] 12/10/2018 15:03

nametrade

agreed. £2 on funding won't happen. £1 would be good!

[caters] 12/10/2018 15:02

5chipper,

depends where you're starting from I guess!

[nametrade] 12/10/2018 15:01

Caters,

The share price was significantly higher a few weeks back!
100% higher in fact...
£2 on a funding deal now looks a distant memory....

[caters] 12/10/2018 15:01

but there's no stretch in the exercise price.

[5chipper] 12/10/2018 15:01

"They're rewarding themselves for failing."

Share price growth, mcap growth & operational developments of i3e since listing does not translate to failing management imo

[tsmith2] 12/10/2018 15:00

but the exercise price ensures they are motivated to deliver..it's the ones at AMER which sucked!

[begorrah88] 12/10/2018 15:00

They do seem intent on sticking 2 fingers up to shareholders at present. Can't communicate any detail at all about the potential farminee or appointment of an adviser yet can knock out self rewarding RNS with an option of freebies even if they continue to fail to get a JV.I'd imagine the so will fall back again now as the MM's can see that the lodged RNS was once again not what was hoped for.Mr 5k sell straight back on it by the looks of it

[tsmith2] 12/10/2018 14:59

yes, sry. stand corrected.

[caters] 12/10/2018 14:58

tsmith

parts 2 and 3 are not (fully) contingent.... they get them at 12m and 24m.

what's contingent is whether they get them earlier

[caters] 12/10/2018 14:56

Hi nametrade,

I suspect that i3 will still actually get a good funding deal and that the share price will rise significantly from here.

MS had no shareholding before and I think an options package for him is needed, but perhaps 500,000 rather than a 1,000,000.

I suspect the 1,000,000 was used as three other directors each hold 1,000,000 shares so it puts MS on an equal footing with them (in number not purchase/strike price).

Anyway, it looks like any new funding/farmout won't involve further dilution (famous last words!)

[tsmith2] 12/10/2018 14:54

not overly impressed either but 2/3 is contingent what I would like the same directors to do is buy a decent amount in the market

[caters] 12/10/2018 14:52

But this share price has been hammered by sentiment 'cos the BoD didn't manage the negotiations too well. They're rewarding themselves for failing.

[5chipper] 12/10/2018 14:50

He only lines his pockets if price goes up

[i like trees] 12/10/2018 14:48

It's a disgrace taking advantage in the drop in share price to line the pockets of the management, especially the new CEO who so far has done sweet fa.Nice work if you can find it.

[nametrade] 12/10/2018 14:48

So, it was 20th Dec 17 when they said they were advancing multiple initiatives then they say they are at an advanced stage with multiple industrial partners...
They’ve now been called on ...
Where are these “multi industrial partners” ? Or have they been over egging the whole situation?

BOD were making it sound like they had plenty of options... but now nothing...
Not very happy with the BOD as we’ve been led up the garden path on this one.
Also you all say they will come up with a better deal because POO has increased... I’ll believe it when I see it... they are also getting closer to needing the funding to advance... I don’t think the deal will be better at all...
Oil could be $200 but if you can’t afford to get it out it ain’t worth a lot. Yes the funder will also make money.... but with I3e in a tight situation the funder will capitalise.
Thoughts would be appreciated.

[caters] 12/10/2018 14:47

Hi Cash,

Agree with you there and I think some long-termers will now start to reduce slowly.

I am singularly unimpressed. Some options for Majid - 500,000 perhaps - yep. But other directors? Pah.

So much for Graham's "we want to avoid dilution" mantra at the AGM.

I thought i3 was better than this.

[kingivor] 12/10/2018 14:45

Agree. The new CEO now has zero credibility.

[caters] 12/10/2018 14:44

It's disappointing that the 2nd and 3rd lots of options don't simply vest when a farmout is agreed or an FDP submitted.

The back ups of 'or at 12 months' and 'or at 24 months' doesn't really incentivise the management very much.

And why have NC and GH been rewarded for failing to land this JV? Not good.

I hope MS proves to be worth his 1,000,000 options at 63.5p. Possibly good, but rather generous.