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G Williams - All very good points tbh.

The only positive thing out of all of this is that debts would be paid off and the Bod can focus on moving the business forward with the JV and operators. So in theory that Might be looked at as a positive from the stock market but we would need some good news to be issued to bolster or strengthen the SP.

Ah it is a bit of a Head **** because you feel damned if you vote yes and damned if you vote No.

The latest update is out from Pennpetro Energy Plc ( PPP +2.47% ▲ ).

Pennpetro Energy Plc, a company listed on the London Stock Exchange, has announced a General Meeting of shareholders to be held on July 3, 2025. The meeting will seek approval for the issuance of new ordinary shares, which have been contributed by existing shareholders and a lender in lieu of a debt. This move is part of historical arrangements and aims to facilitate the admission of these shares to listing once the company’s shares return from suspension.

More about Pennpetro Energy Plc

Technical Sentiment Signal: Buy

Current Market Cap: £9.58M

Sccss would a prospectus be released at the AGM? Or can one land anytime? I dont recall being invested in a share that needed a new prospectus thus far.

Unless im wrong, its becoming obvious that Lunn wants the money that he is (he thinks he is) entitled to via Antons estate , if Anton lent monies and now Lunn would inherit quite a lot of cash plus petroquest gets paid off with these crazy CLN's etc ..... If you look at it like that its pretty obvious. Although i could be wrong altogether.

Either way ive not recieved the proxy to vote yet. Has anyone?

I guess for now, we have to either vote Yes to allot these shares or NO. Obviously voting yes will probably get us back trading sooner at a cost!! Also no info on accounts and what monies are for in detail so part of me thinks stuff you, vote NO.

I never said an EGM wasnt required but i wanted to put it off as long as possible but its got to the stage where its looking like unless we take matters into our own hands this could get messy with lunn calling the shots.

I really wanted to give Lunn a chance back when he was appointed but i realised he was bad news almost after a month of silence and ignoring emails. Then it just got worse and worse with each RNS!

EGM will be the quickest route IMO

New Uncle is that your own message or is that taken from somewhere?

We do need to hear something from Robert. Stop Lunn with these rns's. Why is Lunn acting like the owner? Its because his mate Anton named him executor and he feels like he runs the show. We need to get rid of Lunn from ppp ASAP.

If we do have some very exciting and very good news then the 200m shares in issue is still low (me being honest here albeit annoying)

EUA hit 48p with over 1.2billion shares in issue!!! So in theory with just 200-250m shares in issue at full alloted shares (might only be 170 ISH to start with) then the share price could still do really good I guess.

Depending on news now. If they want yes votes they are going to need to share more info I'm afraid because I'm pinned on NO right now and I know a lot of others that are too.

So delta now your saying that the ex directors or loanees will vote Lunn to keep him in charge? Why wouldn't they vote him off once and for all?

Sharebel. That's very well said on your post. I agree with you.

We need RM to step up and show us now what's occuring but yeah what you wrote is kind of how I feel about it... I'm still not buying that they need their monies now, I just don't understand why. But anyway well wrote bud.

If those lenders of the 25p shares get their shares back and they are expecting more than 25p then news should be good then.

I think what I'm trying to say is they want them back, they must be sure of good news in theory or have confidence that 25p will be surpassed.

tiger - there should be very big news coming but unless we see the damn thing how can we vote. if the deal is done then our assets could be worth a small fortune.

right now not many will vote yes in favour of the 62m because they haven't shared anything with us and that ****es me off.

it's time to show your hand rm. our share price could be amazing even with 250m shares but i'm not voting yes unless i know what i'm allowing those shares for.

i mean do we need to pay back the ex directors now ffs? why can't big news land, get the mcap up to 30/40m and then raise in smaller amounts over a bit of time. why do they want or need all at once?

i think they were lent at 25p... no doubt they want the shares back so they can buy in lower and make a killing if and when the sp increases.

However I'm still not happy with how it's being raised like this and all at once doesn't seem fair nor right. Unless they have very good news then I'm not happy.

I think we need to start seeing what's up their sleeves now because otherwise I'm voting NO.

The 80m warrants are not exercisable all in one go. So yes 62m plus 110m to start. That makes 172m which isn't a lot really.

If they did sell the 80m then we would still have just 250m shares in issue. This is still relatively low in the grand scheme of things IF ppp did come back with really good news then yes the share price could still be really healthy indeed. Eua had over one billion shares issued when they hit 48p...

Yeah Froggy you'd like to think something good will be coupled with resuming trading but unless I see it or know for sure that we aren't being screwed then I'll vote no.

It's not required for them to pay back the loan now at our expenses. What a disgrace that is really, when you think about it!

Lunn needs to go. Probably an EGM is required here if they STILL ARENT CALLING AN AGM OR EGM!

I feel really annoyed tonight. I feel like if we vote no then suspension goes on and on and if we vote yes we get diluted (unfairly) and then it will probably resume trading soon. They probably want to raise this and if more votes say no then this will go on indefinitely. It's so frustrating. Lunn has to go, he's causing so much grief.

Listen guys, unless SL has been cleared no good news will come and nothing good will happen, he has to go urgently. Im voting no. I want to see what im voting yes for tbh .....

RM can turn this around but Lunn only cares about himself, its becoming more apparent with every damn RNS