Iofina Share Discussion Threads

[superg1] 07/3/2014 07:09

Conversion rate down from £2.06 to £1. 2 years added, and the rate lowered.

So the bear bond fun and games are over?

Vicky Pollard should be on their payroll shortly. 'Yeah but, no but,...... but'

H strikes again. Anger, is your Dad ok ? not heard from him for a while, we are all concerned.

[noli] 07/3/2014 07:05

Now this is interesting, why put this in, ummmm

The Bond can also be converted or redeemed by Stena in the event that the Company is subject to a full takeover or there is a transfer of a controlling interest in the Company (conferred by an aggregate 50% or more of the total voting rights attached to the issued share capital of the Company).

[naphar] 07/3/2014 07:05

Wow wow wow read that and weep bear brigade! No more touting the bond repayment as leading to the downfall of IOF. A bit more dilution than previously expected but not a bad price to pay for the extra security!

[orslega] 07/3/2014 07:03

SG1 - well that clears the speculation.....Ennismore will surely be closing that short now!

[owenga] 07/3/2014 07:02

Great news in rns. Clearly no intention for a new placing.

[orslega] 07/3/2014 07:01

RNS Number : 7422B

Iofina PLC

07 March 2014

7 March 2014

Iofina plc.

("Iofina" or the "Company")

(LSE AIM: IOF)

Amendment to the terms of US $15 million Convertible Bond

Iofina, specialists in the exploration and production of iodine and iodine specialty chemical derivatives, is pleased to announce the amendment of the terms of the outstanding $15,000,000 convertible bond (the "Bond") with Stena Investment S.à.r.l. ("Stena"). The redemption date has been extended by two years to 15 May 2017 (the "Maturity Date"). The coupon on the Bond has been reduced to 6.0% per annum from 6.5%. The terms of conversion have been modified such that Stena may convert at any time upon 28 days' notice to Iofina at a conversion price of $1.67. Based upon an exchange rate of GBP 1.00 to $1.67, the conversion price represents a 27% premium over the closing price of Iofina shares at that time.

Based on the issue size of $15,000,000, the Ordinary Shares to be issued on conversion of the Bond would represent approximately 8,982,000 Ordinary Shares or 7.0% of the currently outstanding shares of the Company. If not converted or previously redeemed the Bond will be redeemed at par (together with accrued interest) on the Maturity Date. The Company has the right to redeem the Bond without incurring any early redemption penalty, subject to the conversion rights of Stena. The Bond can also be converted or redeemed by Stena in the event that the Company is subject to a full takeover or there is a transfer of a controlling interest in the Company (conferred by an aggregate 50% or more of the total voting rights attached to the issued share capital of the Company).

Commenting on today's news, Iofina's Chief Executive George Lantz commented:

"Iofina is pleased to enact these Bond modifications, which provide the Company with longer term financing and enhanced financial flexibility as it focuses on the build out and efficiencies of its production plants, increasing iodine derivative sales and securing customers for raw iodine product."

Related Party Transaction

As Stena is a Substantial Shareholder in the Company, pursuant to AIM Rule 13, the amendment to the terms of the Bond is a Related Party Transaction. The Company's board of directors (excluding Chris Fay, who is a non-executive director of Stena International S.à.r.l., an advisory board of the Stena Group of companies (the "Independent Board") considers, having consulted with Iofina's Nominated Adviser, Numis Securities, that the amendment to the terms of the Bond are fair and reasonable insofar as the shareholders of Iofina are concerned.

For further information, please contact:

George Lantz, CEO

Iofina plc

Tel: [phone]

[superg1] 07/3/2014 06:46

Iof Multi

Tut-tut, don't you know you are only allowed to talk about gaps to fill if they are lower down.

Simple supply demand situation. If IOF clear away some speculation then demand will go up.

[freshvoice] 06/3/2014 23:18

Wow,
First Hurricane returns then ATSON looking for his dad again, just like the old days when the price had a pounds sign not a pence one?

One an accident two a coincidence..............?

[battery] 06/3/2014 22:05

Tick tock....

[battery] 06/3/2014 22:02

Welcome back AT son. We missed you.!!!

[iof multibagger] 06/3/2014 21:48

I think a breakout is certainly possible if we can break through the 80p there
is a gap to fill at 1.14pish.

I feel theres big money waiting on the sidelines and a break through the 80p
area would get people scrambling in for shares. But the so called clever punters
like to see her wave her tail a bit before they pull the trigger. Human nature
usually paying 10% higher thats how it is

I can certainly see a rally about to errupt as IOF production is about to beat
previous production levels with the roll out continuing slowly this time round
but surely.

Certainly a brilliant buying oppertunity at these levels I have managed to bring
my average down to 84p and am very happy with that.

[anger taxes son] 06/3/2014 21:47

Watch this space!!!

[frog1] 06/3/2014 15:47

Superg

Thanks for your thoughts and I hope you are right. I'll just wait and see for now.

[superg1] 06/3/2014 15:42

Frog1

I see your comment and note re fund raising. Personally I don't think there will be dilution. I know it's a case of waiting. There are a shed load with that question, sitting on hands

Contrary probably to what the balcony may say, but they want everyone to believe that true or not.

The Stena situation had been another topic of 'you are all going to die'.

I thought a note had explained the likely outcome there, so not a problem.

Stena issue no problem and no dilution imo, we'll have to wait and see.

[ansana] 06/3/2014 15:20

Robo all these peculiar trades of 1 and 2 shares being bought that's down to me.

[johncsimpson] 06/3/2014 15:01

Oh Happy Day . . .

First alphaCharlie puts SHONNY in his place and then not for the first time, I've managed to get one of N3L's more colourful posts removed over on the 'IOFINA, THE NEXT AIM DISASTER?' thread - post 214.

It's a thankless task but if you 'challenge' these trolls sometimes you get a result.

[iofra] 06/3/2014 14:54

ammons - don't know is the answer however, SQM Chile did deliver 15.72mT Iodine into the USA on 28/2, but the port of origin was given as Balboa, Panama.

[roboben] 06/3/2014 14:47

36 shares Ansana?

I had no idea that you were such a high-roller!

[ansana] 06/3/2014 14:43

Frog I won't clog up the Board, we have both had our say. Before anyone asks I have got 36 shares.

[ammons] 06/3/2014 14:38

Agree 100%, frog1.

-----------------

Has the Chilean ports dispute come to an end?

hxxp://www.indmin.com/Article/3315257/PDAC2014-Chilean-port-disputes-resolved-Mining-Minister-tells-IM.html

[frog1] 06/3/2014 14:31

Ansana

I can't believe you view it that way.

I'm not asking for any financial advice, I added what I am considering as a reason for my interest in the answer. Any info on here ,I just take as adding to evidence and not as fact and never advice. Unlike others, I have never criticised anyone for posts that may have turned out to be incorrect, over optimistic as I never take them as advice. I do question the source of figures, just to update my own model.

If Che is offering info he has received, I will accept that. If he doesn't want to share then fine. He said he discussed the topic at length, and hinted he got some info. He has printed other info he received, why not the rest?

One issue that many have raised about this thread is that there is too many nods and winks. I just asked a straight question and I can't see your issue.

yorkshiret

I have emailed the company once about other issues I had. In time I will email them again. However, I do not think everyone should bombard the company with questions, especially if someone has said they have discussed the issue at length with a director. Should Bobsworth email the same question and everyone else who is interested?

[bobsworth] 06/3/2014 13:30

I hope your right AOTN. Unfortunately following delays in plant rollout the market needs convincing they do not need additional funds and is why despite all the good news the shareprice is not moving up. Iofina need to tell the market that no additional funding is needed. If they do that it will do wonders for the shareprice and confirm the business plan is delivering in terms of revenue/profits.

Clarification on this will also force the shorters to close who are currently hanging on believing Iofina needs more funds and will give the big buyers the confidence to buy.

[yorkshiret] 06/3/2014 13:27

Frog, why not email the company yourself and ask the question?

[ansana] 06/3/2014 13:23

Frog I had to read that twice. Perhaps you should ask Che what his fees are if he is expected to give out financial advice to help you manage your portfolio.

[angel of the north] 06/3/2014 13:07

I can't see IOF needing a fund raising at all. With the Chemical division out-performing and more wells coming online we should be more than self sufficient.