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Don’t hold your breath……
Been quiet here for a while now. Quoted spreads have been a little deceiving, but now seem to reflect the trades a bit better even if a wide spread still shows.
Interesting times now as we would normally see the directors picking up stock at these prices. Overdue some news on the conclusion of the BMN CLN close out and ALTE. The investment in CPH2 has not worked out very well. Engage and WeShop quiet too.
Hopefully we will soon get some positive news after a lacklustre year.
ALTE released their annual report up to 30 Sept: https://www.lse.co.uk/rns/ALTE/annual-financial-report-o7xdxhwh4i7ue2g.html
Not particularly positive, slow progress on the RTO with Verdant "Since the date of the announcement in August the parties have been in discussions but they have not yet progressed to any binding agreement for the transaction. Discussions are ongoing but progress is slower than originally anticipated while the parties seek feedback from prospective financial partners."
Still waiting outcome of DD, almost four months since the announcement of the potential RTO.
It's supposed to complete in the 4th Quarter, if everything checks out and price is agreed.
Just hoping its on schedule and completes, the share price certainly can do with a boost.
These pre IPO companies sound great but are beset with issues or at least the ones that Prim has been investing in.
Some very poor selections over the years - many of the investments prior to current management have produced zero returns and in many cases the capital invested has gone as well. The amounts invested were not small.
£1 million was invested in Clean Power Hydrogen and the company is still testing its designs!
Update from I am Fire RNS: https://polaris.brighterir.com/public/iamfire/news/rns/story/xje9lor
Looks like someone scooped up a further 300K at "bargain" prices on 20-10-2023
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
20-Oct-23 11:41:03 2.80 100,000 Buy* 2.50 2.80 2,800 O
20-Oct-23 08:04:14 2.71 100,000 Buy* 2.50 2.80 2,710 O
20-Oct-23 08:04:13 2.71 100,000 Buy* 2.50 2.80 2,710 O
They wait until the share price is totally rock bottom and then have a nibble, barely moving the price in the process. I wonder what the end game is?
All quiet on the ALTE RTO, since announced on 1-8-23.Completion due Q4 23, they said.
Bit of a long shot - but one Stephen Ball was Global Lead Partner at KPMG between 2009 and 2020.
Hedley Clarke was at KPMG probably around 2005- 2010ish, although no precise dates are given in his biography.
Either way between Labrum, Clarke, Ball and Hemming they have amassed around 45% of the shares by low level but persistent buying over the last couple of years, and never spiking the share price much above 3p - 4p.
Can't help feeling that there is a bit of a pressure cooker situation brewing, but if moved any slower it would stop - glacial in every sense of the word.
Who is he ?
That's a reasonable percentage
The free is getting smaller
We am all still watching but sometimes its just best to say nothing. I hold a lot of shares because I bought the people behind the company, Prim is undervalued .I don't want to ramp any company but I think and hope that Prim will be the one company to change AIM. We have all lost on companies on AIM. Most people on these site try to control the share price by ramping or shorting. Its a shame because I fill self's in a supermarket and investing is my life and we should use these sites to help each other but in the UK it will never happen Alteration Earth I hope will increase are share price and they can raise more cash and also start a share buy back. Good luck all real shareholders
Feels as if the only investors left here are a small bunch of long term holders! Hopefully ALTE provides a boost
Thanks skittish and absolutely agree, prim is completely under the radar
This all looks very interesting.
ALTE, at the last accounts had around £900K in cash with which to do DD, and finance other activities.
PRIM realised around £75K in investments in February, which I had assumed would keep it ticking over for around 12 months.
They then realised around another £85K in early July, I suspect that this is somehow related to the ALTE announcement today, maybe getting the company better positioned than it would otherwise be?
We should also be getting around $75K per week from BMN shortly, if the final payment is to be made on 30-11-23 then the initial payment looks to be made around 17-8-23, or maybe slightly before.
This announcement appears to have gone unnoticed by the market, only die hard PRIM'ers have really noticed, however these recent announcements could be transformational within a relatively (by PRIM standards) short timescale.
Completion Q4 23, place your bets with the runners and riders.
£125m will not need to be raised in cash, it will be via ALTE Shares issued to that value. There will be an amount of cash raised for working capital purposes by ALTE. The key here is the price remember PRIM put £350,000 into ALTE partially for seed money at 4p a share and also got some shares at 10p per share. PRIM may well have some warrants, for obtaining the listing for ALT. PRIM has about 5 million shares in ALT.
I believe the ALT is on the main market as opposed to aim, the listing is worth something and we will find out soon its value. Supposing the issue price of any new shares is 50p, 75p, £1 etc. Its going to have major impact the value of PRIM's holding all be at a much reduced percentage holding. PRIM has market value of under £5m currently.
DYOR
£125m will need to be raised via new share issue, so the current ownership % will be reduce significantly, would all depend on the share issue price but imagine that would be at a premium to todays share price.
Prim owns about 27% of ALTE, anyone with better RTO knowledge have an idea of what this means for Prim's holding value?
Go big or go home, £125m RTO!
Thanks yes spoke too soon! Second RNS out: https://www.lse.co.uk/rns/ALTE/proposed-acquisition-9vgazbzadc6vl5v.html
Reverse takeover proposed of Verdant Earth Technologies Limited, an Australian biomass technology company.
ALTE has been suspended, no reason given yet: https://www.lse.co.uk/rns/ALTE/suspension-alteration-earth-plc-11b63uglo3lyd0j.html
Purchased 100k shares yesterday at 2.7p thought why not. Not been an easy time for most I would guess. Happy to hold until this story plays out. I would suggest some buy backs would be in order, rather than invest into some obscure investment via a contact etc.lets hope Weshop or Fresho float to really value Primorus cause we sure are undervalued at the moment.
Well overdue
Will help liquidity and out of BMN which doesn’t look like will deliver much over the short term. Let’s hope the funds are invested wisely…
If they are made yes, that's £910k on a mcap of less than £4mil, very positive