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Started: ripley94, 17 Jul 2023 16:56
Last post: ripley94, 18 Feb 2024 22:45
Still chat on this one over on ADVFN last post 29/12/23 , ADVFN quote a price for 16/2/24
One of the reasons I have not bought via Primary Bid for two years now. 50% chance of this going into administration. So many PB offers have. BOTB sold stock on behalf of the directors at £24....now taken over at a fraction of that price.
Pelatro (LON: PTRO), the AIM quoted telecom Customer Engagement software specialist, is pleased to announce, a conditional offer for subscription via PrimaryBid (the "PrimaryBid Offer") of new ordinary shares of 2.5 pence each in the Company ("New Ordinary Shares") at an issue price of 40 pence per New Ordinary Share (the "Issue Price"), being a discount of 23.8 per cent to the closing mid-price on 14 June 2021. The Company is also conducting a £2.15 million placing of new Ordinary Shares at the Issue Price by way of a placing with institutional and other investors (the "Placing") as announced earlier today.
Primary bid 14/6/21 for 40p 24% discount .
At the placing time blocked from buying on ( D )
Thank GOD with hindsight 8p now.
Thought I knew it trying to buy 15th March 2021 @ 35p
Then 6 /4/21 37.2p & a lower 32p on 9/4/21
Started: Stuartrm, 29 Sep 2023 09:16
Last post: radiaa, 29 Sep 2023 15:34
Thank you - appreciated.
Https://jpjenkins.com/company/pelatro/
The indicative price is currently 1.21p.
Started: Stuartrm, 29 Sep 2023 09:12
Last post: Stuartrm, 29 Sep 2023 09:12
Some information re trading via J P Jenkins can be found here:
https://www.pelatro.com/wp-content/uploads/2023/09/Matched-Bargain-Facility-Details.pdf
Started: CityWatcher, 25 Sep 2023 07:28
Last post: radiaa, 29 Sep 2023 08:48
> Also J P Jenkins will handle any transactions with notice for Pelatro for the next 6 months
Hi,
Does anyone have any details on this process please that they can share. Have written this off as (another) awful AIM investment, but you never know.. Thanks.
Sounds all very suspicious and another AIM scam.
Giving bad news to get the SP even lower before they delist and it goes private???
Why do we all bother in this market
I am also a shareholder that does not see the point in letting them have my shares. Could get £90 back, so Pelatro are not really worth any effort here. There are far more exciting prosperous shares to invest in. ITM Power for one. Pantheon Resources a definite high return and possibly within 6 months.
Also J P Jenkins will handle any transactions with notice for Pelatro for the next 6 months. Within that time some companies that have held back payment owing to their government's stipulation could also be enforced on to cough up !
Good Luck to all holders with other shares. I myself have larger investment than this software company. Netcall could also be a good return, however another software company of which I may take a punt on soon !
Started: lukehere, 27 Sep 2023 21:55
Last post: lukehere, 27 Sep 2023 21:55
One last chance tomorrow to get on board.
Fantastic value available at PTRO's current valuation.
It will be interesting to see what the SP will be just before the close, prior to the delisting kicking in.
Started: lukehere, 21 Sep 2023 15:18
Last post: lukehere, 21 Sep 2023 15:18
Sadly threeputt, PTRO will probably terminate all holdings of under 10,000 shares as unviable.
Started: SharePicks, 21 Sep 2023 11:15
Last post: threeputt, 21 Sep 2023 14:48
Never in doubt even though I voted against with my pitiful shareholding. Can't call then crooks as it's all legal but very very low what they have done throughout their short time on AIM and I'll never trust any company with their name against it. Thankful to have actually made a small profit during their short term with some profitable (and unprofitable trades) and not unconvinced there isn't another trade available before they delist. Very tempted to hold my pitiful £30 worth just to give them extra admin and to see what ultimately happens, it's not a loss to me.
From the very beginnings of buying themselves all fancy big cars to the final blaming their shambolic management on everyone but themselves, just scum !
I dont believe these to be favors to shareholders. The way I see it is that the company wants to buy thir own shares back v quickly after the delisting and will probably pay more than this derisory AIM price.
I can still hold them in my HL account after delisting and trade from there with only a 25 quid as an extra charge for Jenkings.
Good news in my opinion, especially because of the matched bargain facility and continuation of CREST trading for shares. There is very good value here for the price
Wow, Turkeys voting for Christmas here. Absolutely bizarre!
RNS out.
Started: lukehere, 21 Sep 2023 10:42
Last post: lukehere, 21 Sep 2023 10:42
We should find out today, hopefully
Last post: Stuartrm, 20 Sep 2023 21:20
So you think it is a done deal?
Whilst the move off market and the consequential fall in the PTRO share price must be painful for LTHs. it does look as though any new purchaser would be potentially securing enormous value at sub 1p.
Started: Stuartrm, 8 Sep 2023 11:05
Last post: Igloo124, 8 Sep 2023 11:26
I agree, it's a no...I know I've lost the small amount I invested in this mob, but I really don't want to do the BOD any favours at this point. Happy to carry on drawing their salaries, not investing in the company themselves, then blaming AIM for their problems.
Out of curiosity, what is the view re resolution 2? This says if delisting goes ahead the company will be registered as a private company. My view is no, which will give the directors a headache. Given that my initial investment is now only worth a few hundred quid, I am prepared to be awkward as I now have little to lose.
Started: silverknight, 8 Sep 2023 09:37
Last post: silverknight, 8 Sep 2023 09:37
Me too. Delisting may save the company money but wont help shareholders. The bod will still take their salaries no doubt. This is a total shambles
Started: Stuartrm, 7 Sep 2023 13:28
Last post: Igloo124, 7 Sep 2023 14:42
Hi, I'm with Interactive, and they had a voting form on my account to use for the AGM. I'm also against.
I have spoken to Barclays Smart Investor. They say there will be no corporate action raised for the delisting and all voting will be done at the meeting that is sceduled for 20 September. They will raise a proxy vote on my behalf but they wanted a resolution number against which my wishes would be logged. There is no such number in the RNSs of 31 Aug or that of 4 Sept. They checked to see if they could place a proxy vote without the resolution number and the answer is no. After a bit of hunting we found the resolutions, 1 and 2, at https://www.pelatro.com/wp-content/uploads/2023/09/Notice-of-General-Meeting.pdf on the Pelatro website.
Hopefully that will save some of you hunting around. I am against the de-listing, by the way.
Started: SharePicks, 7 Sep 2023 13:44
Last post: SharePicks, 7 Sep 2023 13:44
This RNS also allows the company to pick up stock on the cheap.
Now if the delisting is rejected then those who sold will be crying foul.
However, there does seem to be someone accumulating here.
Started: SharePicks, 7 Sep 2023 13:32
Last post: SharePicks, 7 Sep 2023 13:32
If new investors vote with CEO then whatever happens this will delist.
Started: Igloo124, 6 Sep 2023 11:56
Last post: Igloo124, 7 Sep 2023 09:43
I was looking at volume of purchases - there were seven purchases totalling over 700,000 shares - yes not a huge cost, but still a large volume...
How large are you talking, can only see 300,000 share deal as the biggest and that's only +- £3000 ?
According to LSE, there's some large trades happening - any clues on who is doing this?
Last post: robertalexander, 5 Sep 2023 13:27
Ditto
Ditto
Done this morning...
Get your votes in folk.
Started: wakeyinvestor, 2 Sep 2023 11:39
Last post: wakeyinvestor, 2 Sep 2023 11:39
There are several companies that have delisted from AIM this year and have had a Matched Bargain Facility with JP Jenkins. Has anyone had experience of using this facility and can you get a decent price? I’m thinking if the Dubai investors were happy to subscribe £1.1m at 2.5p per share less than 3 weeks ago, they would be happy to add at more than the current SP of around 1p. Comments welcome
Started: Stuartrm, 2 Sep 2023 00:59
Last post: Stuartrm, 2 Sep 2023 00:59
I have read through the last RNS, which seeks to explain the reasons for delisting. The document is peppered with typographical errors and it appears to have been cobbled together with little care and considerable haste. If this is the best that the directors and their legal advisers can come up with, no wonder the company is struggling. Rather than keep the directors and cancel the listing, the converse seems to be a much better option.
Last post: Igloo124, 31 Aug 2023 10:22
Like others on here, I am appalled at the actions of the BOD of this company - go out to raise more money, and then delist a few weeks later (if they get the votes of course). I for one would be delighted to see the motion not carried - their contempt for shareholders - big or small - is awful. I might not have put a lot into this company, but it's more a matter of principle in my opinion.
Last post: MeanDog19, 31 Aug 2023 09:41
How dare this bunch of incompetents blame the mechanics of the market for their failures?
Liquidity naturally occurs when there’s a positive story to follow .
Basically, taking themselves private without paying out the investors.
Started: SharePicks, 31 Aug 2023 08:41
Last post: SharePicks, 31 Aug 2023 08:41
0wn 13.8%. No mention of new Dubai based investors. Interestingly with a massive spread only 50k available at 1.495p.
Started: SharePicks, 29 Aug 2023 21:10
Last post: ria20, 31 Aug 2023 08:18
Totally agree wakeyinvestor, vote this down
The placing shares on 18th August and the directors shares amount to 61.58%. I think Rathbones and Bannick may be out, if so, there is more needed to get 75%, but even so, yes, get buying and vote this down. It’s daylight robbery for existing PIs who have been stripped of significant value, but only if they get the votes
"the Cancellation requires the approval of not less than 75% of the votes cast by Shareholders"
only 70% held by major shareholders, this could get interesting !
"the Directors consider it unlikely that an equity fundraise using the public markets would successfully raise additional capital (or provide the optimal platform to do so), should it be so required"
so stick your hands in your pockets and buy some shares like you never did you greedy b's
I see buried in the RNS of this cancellation is the resignation of the CFO ‘to persue other business interests.’ Like a company with an actual business? not a very attractive CV. I don’t care what their Middle East backers do . To have a placing on august 14th and suggest delist two weeks later has to be something of a record for Aim. Can’t see this ending well. Pure punt!
And the Middle Eastern investors will want something more than the 2.5p they paid - ITS all over again
Started: UpsDowns, 31 Aug 2023 07:12
Last post: UpsDowns, 31 Aug 2023 07:12
13.8%
Started: CityWatcher, 29 Aug 2023 08:06
Last post: threeputt, 29 Aug 2023 14:19
"as the Board considers that being listed is no longer in the best interest of the Company. In reaching this conclusion, the Board has considered the following key factors (amongst others):"
I wondered what the "(amongst others)" entailed
Should have read ‘if they have the 75%’ not so they have….. If it does delist, I wonder what price you’d get under the Match Bargain Facility if the new investors were happy to come in at 2.5p? All things considered I do think the SP is too low and a bounce will come IMO
But so they have the 75% and if they do why haven’t they said so? With recent new contract wins, cash to come in from customers (eventually) and cash from the £1.1m placing there is more value than the current SP in the shares IMO.
I had a similar thought, Leo IX. It is difficult to imagine that the new investors did not know that this was planned. Teddy Sagi and Kape Mark 2, methinks, except Kape was successful and one would be hard pushed to describe Pelatro as that.
Thinking about it, if they had the commitment re 75%+ of the votes or were anywhere near it they would have said it in the RNS and provided full details behind the cancellation. I wonder if they are buying up shares on the cheap following the panic selling with a view to later announcing their percentages. It seems to me the delisting is not by any means a done deal and it might be worth waiting before selling (how worse can the SP get?) and see how it pans out. If they can’t delist the SP should bounce back. It may be that that amounts not recovered from customers are more recoverable than we have been led to believe and they want to keep the bounty for themselves. Might be right, might be wrong….z
Started: SharePicks, 29 Aug 2023 12:22
Last post: SharePicks, 29 Aug 2023 12:22
They did take the entire placing at 2.5p. I suspect the sellers today could be Rathbone and Herald . Both combined hold around 3 million shares.