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I suppose as the end of year results must be about ready
Agreed why pay an investment company to run an investment company and keep Nick and Amanda. Clarity on our complete portfolio would be of interest as well. Again I�m struggling to believe anything they have to say as we have had carrot dangling going on here for years.
Scotty, and when I say existing holders, it is the like of us...and not the institutional holders who are already profitable due to the last placement price... Let me give them my investment advice and that's for free: just invest in arcm and ppg and we may just see 20-40x return here. One is 1-3 years away from being a cobalt-gold producer of billion dollar mines and the other one has the potential to be a 200+mega watt power producer. They have already invested in them, just help them out to grow to their true potential. They say simple is elegant, PRS has got it right with their holding in ARCM and PPG, why not expand on the good start over there instead of paying 2 and 20% performance fee to the leaches from Riverfort capital....
Scotty, With 7+ billion shares in issue shortly, there's no way that the share structure would remain same...share consolidation is definitely coming here - just don't know whether it would be good or worse for existing holders......
Are we about to be further royally shafted or is it all gonna turn out peachy?
Surely the the increase in shares is a killer, plus why pay an investment company to run our investment portfolio? It doesn�t make sense, and an increase in shares at a price they have already says is massively undervalued is hardly creating shareholder value. Or am I missing something?
Holding due to GW's involvement, the guys has a good track record. He must have seen something here which I am perhaps missing....
Will hold...
So are you selling up before Friday or hanging on to your holding?
i still dont understand why the feck do you need Riverfort capital to manage your money when Nick's main job is to invest the money.....either fire Nick or Riverfort Capital.....how the feck would PRS save money when the main purpose of Nick's responsibility and Riverfort Capital is the same, albeit cheaper as you are not paying 2 and 20% profit to Nick but you are to Riverfort capital.....Gervais Williams who through Miton group is a substantial shareholder can probably give that service for free.......
correction: Resolution 3: To disapply pre-emption rights - shafting of exsiting retail investors (means existing share investor wont get any allotment / limited allotment if they already get �6m in placement)
Resolution 1: Investment advisory agreement - riverfort profit from being shareholder as well as investment manager. Resolution 2: Authority to allot shares - diluting existing investors (over 5 billions shares would be issued - 335% of the existing share issue) Resolution 3: To disapply pre-emption rights - shafting of retail investors (means retail investor wont get any allotment if they already get �6m in placement) what is coming here is one last shafting of the retail investors, followed by consolidation.......same script, different shit..... shafting of the retail investors at its best...
Agree, its going more and more to sticky hands....
There is gonna be less and less of these shares available
That�s maybe Nick moving on lol
I�ve got about 200,000 shares in Eridge but I�ll probably never see the money again, although that news slightly helps matters
Big Sofa (AIM: BST), a fast-growing international video analytics provider to consumer brands and market research agencies, announces the part conversion and repayment of the Eridge Capital Limited ("Eridge") (formerly New World Oil and Gas plc) convertible loan. As previously announced, prior to Big Sofa's admission to trading on the AIM market of London Stock Exchange plc ("AIM") in December 2016, its subsidiary, Big Sofa Technologies Limited, borrowed �675,000 from Eridge by way of a convertible loan (the "Convertible Loan"). As at 31 May 2018, the value of the Convertible Loan plus rolled up interest was �739,212. Eridge has today elected to convert �100,000 of the Convertible Loan plus rolled up interest into 588,235 ordinary shares of 3p in the Company ("Ordinary Shares"), representing a conversion price of 17p per share. Furthermore, Big Sofa and Eridge have agreed that Big Sofa will today repay the full outstanding balance of the Convertible Loan plus rolled up interest, totalling �639,212. As a result of the part conversion and repayment, there are no further liabilities due in respect of the Convertible Loan. Consequently, Big Sofa has today allotted 588,235 Ordinary Shares to Eridge. Application has been made for these shares to be admitted to trading on AIM, with Admission expected on or around 6 June 2018. Following Admission, the Company's total issued ordinary share capital will be 82,598,958 Ordinary Shares. No ordinary shares are held in treasury. Following Admission, this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
If he had bought like 5-10% of the outstanding shares, that would have meant something. That £10,00 worth of purchase is peanuts in compare to value destruction he has created over his tenure at PRS. The reign of the PRS leaches continues......
Through the net, Nick bought 10,000,000 of these yesterday. He�s almost got as many now as some of his shareholders have.
As an AIM investment company, PRS is right their at the top of the worst performing shares. So much potential in the listed portfolio lays wasted....
Yep, paying amanda and then Nick and then on top of it 2 and 20% performance fees of Riverfort Capital along with their director (Nesbitt) salary. Shareholder shafting (Massive dilution through placement at less than NPV of shares) is what we have seen so far from the three... They got to walk the talk....with so my listed companies in the portfolio, they got to move their ass. And not just sit on their ass, by investing and then doing nothing to help the portfolio companies. Help PPG in securing the capital they need to expand their power portfolio.... Help ARCM
As an existing shareholder you may wait what the offer terns is during placements for holders....
Better to top up now or wait til after the AGM?
Bit of movement this last hour or so.
Going back to Amanda if 75% of our investments are going to be through Riverfort then how can Amanda seriously justify remaining on the same income she was on previous to any changes, if and when they happen?