Email today from Ricardo refers to their web page which states: "The Stage Two application deadline was Monday 10 December 2018, 1200 hours. Following a detailed evaluation process four projects have been shortlisted to proceed to Stage Two. All shortlisted applicants will now undergo further due diligence prior to final grant award in Summer 2019. " This was apparently posted in May and verified by them today.
Just emailed Ricardo and was referred to their web site last updated in May:
Just to cheer you up, this web ( [link] posted the following comment: "The first Velocys plant in the UK, which is due to start construction in 2021 and be producing fuel by 2024, will take hundreds of thousands of tonnes of organic household waste and convert it into clean-burning, sustainable fuels, delivering more than 60 per cent greenhouse gas reduction, compared with conventional fossil fuel and savings of 60,000 tonnes of CO2 every year. Latest research findings estimate that the Velocys fuel plant will create more than 5,000 jobs in the UK and add nearly £3bn to the UK economy." Love to know where they got their info from as I can find no corroboration!!
Just to cheer you up a bit this web site posted the following comment:
See also: DEVCO (31/10/18 start), HOLDCO and PROJECTCO1 (both 1/11/18 start). All three list Pummel, Hargreaves and Gorman as directors!!st
It is co-located (same address)with Velocys and came into being on 22 Nov 2018! No idea what they do! see this link; [link]
The Aim 26 Factsheet on the Velocys web site has been updated and the 3% holdings do not include Norma despite the RIN of 20 Nov. Shareholders owning more than 3% of the Company at 28 November 2018 were as follows: Ervington Investments Limited (22.22%) Lansdowne Partners (21.16%) CQS Directional Opportunities Master Fund Ltd (14.62%) Janus Henderson Group (9.56%) Invesco Asset Management (5.75%) Hargreaves Lansdown Asset Management (4.33%) Jarvis Investment Management (3.48%) In fact they are the same as the 18 September listing below but with increaseded %ages because of the 5 Dec RIN CLNs : Ervington Investments Limited (21.12%) Lansdowne Partners (19.45%) CQS Directional Opportunities Master Fund Ltd (15.37%) Janus Henderson Group (10.04%) Invesco Asset Management (6.05%) Hargreaves Lansdown Asset Management (4.56%) Jarvis Investment Management (3.66%) So all the speculation that RA had increased his holding would seem to be incorrect and indicate that Ervington Investments is operated via the off-shore Norma International Ltd which is based in the Virgin Islands. Or else the VLS web site is wrong. I also note that both Schubert and Pummel remain as Executive Directors (so no big payoff then!!)
RA is obviously up to something, and since he owns 40%+ of VLS, he is surely compelled to act. Question is, if he wants to buy, at what level would he need to bid. Bear in mind Landsdown's holding was bought at more than 30p (SP inJan 18 - no buys since) and it surely wouldn't agree to taking a 50+% hit on its original investmentt)
Shareholders owning more than 3% of the Company at 7 September 2018 were as follows: Ervington Investments Limited (21.12%) Lansdowne Partners (19.45%) CQS Directional Opportunities Master Fund Ltd (15.37%) Janus Henderson Group (10.04%) Invesco Asset Management (6.05%) Hargreaves Lansdown Asset Management (4.56%) Jarvis Investment Management (3.66%) total holding 80.25% - seems that the big players haven't been scared off. What do they know that we don't, I wonder.'t