The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Redbox,
It was on his personal twitter account wasn’t it?? Not the Predator account. You can tweet what you like and so can he… Lonny was highlighting the man’s ineptitude? Clear to see … worth watching if anyone was in any doubt if you ask me.
Lighten up Redbox. It’s as if you’re TW.
He only posted a link to TWs own presentation. Doing the guy a favour and advertising his work. For free!
Building bridges. Why’s the link negative?
The Sheriff called seeing his own presentation trolling! Haha. Obviously a joke.
I see it as a slap on the back well done and recognition of his ability from Lonny and a bit of light humour for the Beano from TW!
With the uncertainty of Funding removed,.....I am looking forward,.... at the potential, the Funds open up, for PRD,.....started increasing our PRD shareholdings, last week.
BW
Correction: that should read,.... "resulted in me increasing, our PRD shareholdings.
BW
I was thinking more along the lines, what motivated him, to lend the shares, Jonmo91,.....the conclusion that I came to, resulted in me increasing, our ZEN shareholdings.
BW
Micktrick your talking rubbish as he will all his shares back.
Strange that in March 2020 when they didn’t have the authority he didn’t charge for the lending, this time he will probably receive around £50k from shareholders.
You would have thought Griffiths wouldn’t make the same mistake twice however he does benefit so maybe it’s deliberate.
There needs to be some telling questions in the upcoming presentation.
One particular question is a conflict of interest, being the reason for Griffiths selling. Ok fair enough but what is it ?
You are wasting your time Jonmo. PG and Lonny are some sort of gods in some peoples eyes.
He gets the shares back. He isn’t losing anything per penny rise. He’s getting £50k for not having the headroom. I can’t be bothered either. Anyone who can’t admit any wrong doing in a bod is agenda driven. Lonny should not have inflated the share price for o get PG out at a higher price end of.
Even so, the fact still remains that PG will be losing £150k per penny rise in return for £2k per week. I can't see that being allowed to go on until August '23. I believe on that basis that the shares will be returned in a few weeks, as per last year.
Regarding the tweets, the only person who can provide the motivation for them is Lonny himself. Anything else is pure speculation.
Please could you let this go now. I've got things to do and I can't be arsed carrying on with what is turning into quite a circular discussion. Unless anyone else would like to take up the baton :-)
It states 31st August 2023.
The two week comes from the agreement to return the shares by Aug 31st. If you don't care about the loan can you drop it then ,please?
Thanks,
Mick
Where are you getting two weeks from?
I don’t really care about the loaning of the shares. It was a point that it wasn’t done freely. If anything it shows lack of foresight to get the headroom in place as a contingency.
What has irked me is while waiting for the joint venture outcome, Lonny tweeted like mad so PG could sell nearly 2 million shares at 9p while a placing of 5.5p was on the cards.
That is not good governance what anyone says.
Jonmo,
Have you sat down and tried to work out the actual sums?
The agreement states that 6%pa will be paid for the initial two weeks loan of £850k.
My back of a fag packet calcs gives £1960 interest for the first 2 weeks.
12% pa gives £1960 interest per week. Using last year as a guide, the shares were returned in three weeks. If repeated, this would make PG the grand total of £3920 in interest.
Now compare this to what PG could make if he left his shares where they were:
15m shares = £150,000 per penny rise. The shares have already risen by .75p since the announcement.
150000 x 0.75 =£112500
Not only that, but the loan will provide a springboard to the share price that would have otherwise not have existed.
You said yourself, " I think anyone with powder dry at these prices is a no brainier and I wouldn’t sell .."
So I take it then that you are expecting the share price to increase, yeah?
In which case PG stands to lose the best part of £150k for every penny it rises, in return for ~£2k per week.
In short, you are making an enormous mountain out of a microscopic molehill.
Cheers,
Mick
He is getting the interest while the shares are loaned. It doubles in the event they are not returned in time.
Selling gas may or may not be enough to progress Morocco and other funding may well be required for Ireland or TT.
Jonmo,
If we find the gas we won't need to return to the market. Also, the interest will only accrue if the company doesn't return the shares when agreed. Last year when PG loaned shares, they were paid back on time. There is nothing to suggest things will be different this time.
Wraith
He isn’t doing it for free
“Interest shall accrue on the Loan at the rate of 6% per annum of the Principal Sum of £825,000, being the market value of 15 million shares at the Placing Price of 5.5 pence per share. The default rate of interest under the Stock Lending Agreement for any sum which is not paid when due is 12 % per annum.“
Regardless of the antics of the near two million sale, I think anyone with powder dry at these prices is a no brainier and I wouldn’t sell over it.
If a CEO gets a bad reputation it can affect going back to the market at a later date if finance is needed.
Hopefully we’ll know one way or another what we have in the coming months.
GLA
Tom,
You consistently try to make mountains of molehills in order to sow doubt, especially in the minds of those who may not necessarily have seen the inside of too many corporate finance transactions.
Especially to create a sense that there is no smoke without fire.
I have been in that space for 30 years and there is nothing I can see here that is either untoward or unusual.
So, I would suggest you heed Daibark's excellent advice and sell up and clear off, instead of spouting totally unnecessary and unfounded bile and poison on here.
Thanks to the smart positive people on here…..you are steadying SS Predator as we are very close to docking soon to load up a very valuable cargo indeed and will probably wish we could carry even more of it…. We can always return for more! To the usual negative culprits I suggest you sell up and clear off as I want to buy some of your shares on Monday once the market opens for trade again…..Bon Voyage losers! Please don’t come back! Dai:-)))
Tritoretire
I know it was not aimed at me
But just to irritate the dwarfs
My deal number is on my twitter account
It totals well over $22BN
At historic values
Present value... about $40BN
Strange but true
The deal with King Abdullah of Saudi Arabia was on Saudi TV...see my pinned tweet photo
We have all done things in our lives
Mine happened to be a bit 'different'
BTW
I have bought some more
Regards
GRH
Field Equity. That’s the multiplier.
I was aware, of all the points you mention, when on Thursday deciding to start increasing our PRD shareholdings, Jonmo91,......I also took into consideration, that;-
Etract:
"Stock Lending Agreement
The Company does not presently have sufficient headroom to enable the issue and admission of all of the 60,000,000 Placing Shares which are required to be issued pursuant to the Placing without the production of an FCA approved prospectus. The Company is therefore proposing to issue and admit 45,000,000 new ordinary shares (up to its existing headroom) (the "New Placing Shares") and for a director, Paul Griffiths, to transfer by way of a loan of shares (the "Stock Lending Agreement"), 15,000,000 existing shares held by him in order to settle the Placing in a timely manner."
Source: https://www.londonstockexchange.com/news-article/PRD/placing-to-raise-ps3-3-million/15588208
When considering all of the above, I decided to increase.
Tune for weekend: https://youtu.be/JYIaWeVL1JM
BW
One for the dwarfs.
How many funding deals of any description have you done in your life’s?
Even on very ‘simple’ funding deals things move.
Have kept this post deliberately simple so that you might start to comprehend and think before you post again.
Tom 58
Don’t bother to reply this is way above your pay grade.
12th May RNS
“Two primary candidates for a potential farmin to the Guercif Licence have been chosen from the initial responses to a targeted marketing exercise by the Company's experienced management team. The Company is proposing to offer the successful candidate a sixty day period of exclusivity to complete technical due diligence and to negotiate commercial terms.”
5th July Lonny goes on a tweet fest including
“Options for NEDs today rewards what they have contributed to the Company already in a very short time... good to be working with people who deliver at all levels.”
“Great not having a Nomad on the Standard List. Our Chairman can seek guidance directly from the FCA and not have to bother with Nomad gatekeepers.”
21st July RNS
“The Company announces that it was informed on 19 July 2022 of the sale by H2Green Power Ltd ("H2Green") of its shareholding of 1,785,700 ordinary shares in the Company at a price of 9p per share on the same date.”
17th August RNS (while we await JV outcome)
“Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco and Ireland. is pleased to announce that it has conditionally placed 60,000,000 new ordinary shares of no par value in the Company (the "Placing Shares") at a placing price of 5.5 pence each (the "Placing Price") to raise £3,300,000 (before expenses) (the "Placing").”
That isn’t great behaviour which ever way you look at it.