I3 Energy Share Discussion Threads

[brooko19] 21/3/2018 11:58

Reason they got 600k shares more last time was because there was a clause to do with out reacent placing which mean they could convert $500k at a certain rate lower than the placing price.. now that’s done we are back to the agreed 39p conversion rate..

[begorrah88] 21/3/2018 11:56

Although a literal interpretation of that statement suggests that JCM would have had to elect to convert 'all' and not just another $500000?

These loan note agreements are always so vague to anyone not directly involved.

[i like trees] 21/3/2018 11:52

It is but I guess that's the benefit in early investing. I bought loads in the mid to late 20s

[begorrah88] 21/3/2018 11:42

The last $500000 tranche was converted for 1,516,876 shares

This $500000 tranche got 925,926 shares

A significant change in conversion price which leans toward this :-

'In the event that the Company serves notice on the Noteholder of its intention to redeem the amended Loan Notes in cash, the Noteholder has the right to elect for all of the amended Loan Notes to instead convert into Ordinary Shares at a conversion price per Ordinary Share equal to the volume weighted average price of the Ordinary Shares over the five business days immediately preceding the date on which the redemption notice is served by the Company.'

so you may be right 5chipper but where would i3e be getting the cash from? and would the market have had to be informed?

[jungmana] 21/3/2018 11:34

About 925k shares issued for $500k. That makes the issue price just under 40p. Good profit there for jcam.

[5chipper] 21/3/2018 11:31

Seems to be above their pro-rata entitlement to convert unless i3e have given notice of redemption?

[begorrah88] 21/3/2018 11:31

Have to presume it is a precurser to the JV. Whether we have to wait until they've fully converted the remaining $1.5m is anybodys guess

'These amendments and relaxation of these provisions provides the Company with greater flexibility to negotiate terms for the potential joint venture and other financing arrangements currently under discussion'

From the 6th Feb RNS

[i like trees] 21/3/2018 11:27

Once the loan notes are converted, there will be nothing holding this back. Better they do it now imo. Any drop will be minor and temporary IMO

[nametrade] 21/3/2018 11:27

Nearly 600k less shares than last time.

[begorrah88] 21/3/2018 11:23

Brooke was right about JCM then

I thought the amount of loan notes they could convert was limited by the proportional funds raised according to the relevant RNS?

[cashandcard] 21/3/2018 10:05

ducati2345,


Its a fair point. I would suggest that both sides may well be delaying finalisation of an agreement until the outcome of 30th round awards. It would make sense to do so, therefore any agreement would encompass Liberator and greater Liberator area.

Having said that, I do believe they have already reached terms for Liberator (sole) development regardless of 30th round. Just a waiting game imo - there is nothing else the company can do now but move into the development cycle.



Cash

[showme01] 21/3/2018 10:01

Totally separate and not conditional on each other which I have had confirmed. Will be announced as and when confirmed. 30th round results likely to be a April where funding expected this month. Too many people guessing on LSE with little or no knowledge imo.

[chopsy] 21/3/2018 10:01

Remind me please when are we expecting 30th round result?

[ducati2345] 21/3/2018 09:58

One of guys on lse board made interesting point before being shouted down lol that is there any mileage in i3e holding back funding announcement until 30th round results, eg would funding be linked to that so no funding signed until 30th round or are they totally separate issues.

[cashandcard] 21/3/2018 09:53

showme01,


For a current market valuation of £25mln, with 7-10kboepd just waiting for financing, I'm not too bothered if ops slip into Q1/19.



Cash

[showme01] 21/3/2018 09:44

Cash, that's all and timelines within the 31st Jan are on track. I would always allow for a week or 2 margin with such a huge facility. Legals etc but that is just my take on it as Graham couldn't go into any detail, just advise that all going to plan.

[scotty666] 21/3/2018 09:37

Last time CF stopped offloading I think it was because they were inside on funding/placing news, as we are close to end of Q1 and no TR1 in recent weeks I think we will know something very soon. IMO

[cashandcard] 21/3/2018 09:35

showme01,


Thanks, I guess its a waiting game on the deal then.


Cash

[showme01] 21/3/2018 09:28

Cash, I spoke to Graham a couple of weeks ago and all seems to be on track ;-)

[cashandcard] 21/3/2018 09:23

Buying opp coming up. Really hoping they can close the deal, to stay on course with Q4 FOIL date.


Cash

[a2584728] 21/3/2018 09:19

Waiting to dip in for £5k more.

[showme01] 21/3/2018 09:18

It's no shakeout, its supply and demand. We still have a seller and without buys, that is why we are dropping a bit.

[coscos] 21/3/2018 09:13

Looks like an MM shakeout before news to me.

[showme01] 21/3/2018 09:05

Best they offload before news imo.

[begorrah88] 21/3/2018 09:03

Daily offloading again

Becoming frustrating