Prof: Dont forget the Regant Pacific holding, see below:- Following completion of the Subscription Agreement and the Placing and Subscription (and before considering the conversion of any outstanding loans or other convertibles as referred to in the announcement dated 1 September 2014), the Company holds 86,799,490 Plethora Shares, representing approximately 13.73 per cent of the enlarged issued share capital of Plethora after the issue and allotment of 14,632,600 Plethora Shares on 15 September 2014 upon conversion of certain convertible loan notes (as announced by Plethora on 8 September 2014).
JM owns 30% of the company valuing his holding at £11m, any more and he would need to make a bid to all shareholders. Clearly it is his decision to stop at that figure, but he knows that if he were to buy the company, he would have to pay multiples of the current share price (multiples of £22m). I think that he is probably happy that he will gain along with the rest of us when the product is finally ready. Besides, the company is being manoeuvred into a position in which it can be sold. It is not inconceivably that an interested party could also build a position of 30% and then make the offer. With JM as a 30% shareholder, the job is somewhat easier for any interested party. For me, this is sitting very comfortably and I can see good reasons as to why JM wants to keep his holding at this level. Having watched the rise and fall of VAL today, it is clear to me that there will be significant interest here if and when we receive positive news. This share was trading with a market capitalisation in excess of £50m around twelve months ago. I am very comfortable holding and adding at these levels although I doubt that I have the time or resources to get anywhere near the 30% mark that I ideally would like to hold.
Hi Stoney, thanks for the background mate. To be honest though, as far as i can tell, he's been a broker of various sorts for a long time, had some comfy directorship roles, which will require one board meeting every half a year for his 20k salary for each, and then set up a recruitment firm. None of the above requires much intelligence whatsoever, especially judging by the brokers and some directors of funds i deal/have dealt with. He and Jim are also close mates. Unfortunately, although i really wish it did, none of it fills me with any confidence whatsoever. Having been invested for a number of years, i would love to see a capable board finally getting this to market, but as always, even more 'patience' is required.
Really nothing to stop him buying the company. Either himself or through one of his investment companies. No one to stop him. And if this is going to be huge, as he has stated on numerous occasions, why wouldn't he want to ?
Macattac: check this out and then tell me the guy is just an employee of Jim, he is not, he has clout and contacts in the right places:- Mr. Anthony Robert Baillieu served as a Partner of RoachTilley Grice, an Australian stock broking firm. Mr. Baillieu had a long career in insurance, stockbroking and asset management, with experience in the United Kingdom, Europe, Australia, the Middle East and Hong Kong. He served as Non-Executive Chairman of Triton Minerals Limited from January 28, 2014 to February 28, 2014. He served as the Chairman of the Board of Directors of Regent Pacific Group Ltd. from May 12, 2003 to October 27, 2005. He served as the Chairman and Director of Black Fire Minerals Ltd from December 2010 to December 17, 2012. Mr. Baillieu has been a Non Executive Director of Speymill Deutsche Immobilien Co. since March 1, 2006 and Plethora Solutions Holdings PLC since May 2015. He also serves as a Director of The Eastern European PropertyFund, The Charlemagne Capital Russia Fund, Discover Asia Investments Ltd. and Discover Europe Investments Ltd. He serves as a Director of certain subsidiaries of Regent Pacific Group and Dublin-listed funds managed by Regent Pacific Group Ltd. He served as Independent Non-Executive Director of Regent Pacific Group Ltd. from April 2001 to October 27, 2005. He served as a Non-Executive Director of Speymill PLC (formerly, Wigmore Group PLC) from November 12, 2004 to July 26, 2005. Mr. Baillieu was a founding director of Lowell Asset Management, a private Australian asset management and investment banking group. He also holds directorships and consultancies that span the fields of insurance and asset management. In 1992, Mr. Baillieu established Anthony Baillieu and Associates (Hong Kong) Limited, an executive search firm specializing in financial services.
Jim has merely handed positions to his mates. its becoming a big boys club, thats it. Its not because he is some financial genius unfortunately, and they are certainly not 'experts' as Stoney D comments. I, like most of us, want this to rocket, but there is no point looking too closely into these new appointments. He's merely employed some of his buddies, probably to give him even more leverage in decision making.
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