Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors. Watch the full video here.
The June date was mentioned in the RNS of May 3rd. "Prospex Energy PLC (AIM: PXEN), the AIM quoted investment company focused on European gas and power projects, is pleased to announce that the development of the photovoltaic hybridisation solar project at the El Romeral power plant, known as "Project Helios", which would increase output from the plant by up to 60%, is progressing well ahead of the final investment decision, which is scheduled for consideration in June 2023."
Adon - you are correct. What Drakouna has done is to pick up the old Vane (stock code VNHLF) OTC Pink Sheet, which was subsequently re-titled ROSE and then ZPHR. OTC QB is a Venture Exchange, dual listing, fully sponsored and a totally different listing with far more liquidity and profile than the OTC Pink Sheets. We must be close to an RNS announcing the first day of trading. Probably Monday week.
Hi Agadem - my understanding is that dual listed companies on UK/US exchanges use American Depository Receipts (ADR) for investors to buy and hold shares. ADRs are a form of equity security that allows US investors to get access to the free float of the 1.224B shares in issue. So, you are correct, no new shares are issued. The aim of dual listing is to improve liquidity and company profile as already mentioned by CH in his interview. Incidentally, the OTCQB is referred to as the 'Venture Exchange' and consists mainly of early-stage and developing U.S. and international companies. Could be a lot of interest.
This share has all the hallmarks of a suspension coming up. I've been selling on a daily basis to reduce my holding but it is taking time to unload. I see zero opportunity of a turnaround with the current board - after all we have been promised funding for two years now - and nothing. Our one opportunity was for a new board to be put in place and we lost that. Depressing, as I've been with this share for 4 years now. It had real promise, but time to cut my losses and move on.
I took another look at the Operational Update RNS of Nov 19th and I quote "The loss of management fees will have a negative impact on the Company's working capital position as this is presently the Group's sole revenue stream". So, my question is how on earth can they keep the lights on? Unless of course CT has a cunning plan, but as he has failed to deliver over the past two years, I'm doubtful.
You are spot on rhug1996. That is the issue. Plus, to get any funding agreed there first needs to be a suitable site ready with planning permission already granted, which we should have had with East Devon. Except we didn't. It could now be 6 months before another site is available to attract the funding needed for the gas equipment and commissioning. True, they might get a funding arrangement in place 'subject' to a suitable site becoming available, but it's still going to be a six month wait. So where is the money coming from to keep the lights on - and pay for the next planning application?
Also, it's not just about funding - as critical as it is. What about strengthening the board with an industry expert who can supervise getting sites approved and built? We don't want another planning rejection like East Devon back in September. I'm not sure how much was spent on that application but it must have been several £100k in consultancy fees.
Monty - Do you have a summary of what was said to 'win over investors' ? I can't recall reading anything. Thanks.
Me too. No cash, no backers and no future.
Anyone attending tomorrow? Even though I have voted by proxy I'm thinking of attending just to see what happens first hand. There are a lot shares still floating about so I guess it can still go either way.
For those who have already voted via their broker, but have not yet received a confirmation I do suggest you chase them as I have had to write three times plus two calls to my broker to make sure they actually voted on my behalf before the Jan 8th cut off date. For those who have yet to vote I can offer no better advice than that already given by GretaGarbo - this is the only way to get our money back.
Nick Lee, Investment Director at RiverFort Global Opportunities (RGO) explains why they have requisitioned the directors of Plutus to call a general meeting.
(Interview starts at 50 minutes 6 seconds)
https://audioboom.com/posts/7462430-bidstack-nuformix-and-riverfort-global-opportunities
Just voted on H-L for the six resolutions. Three to remove and three to appoint directors. Also, I understand that the deadline for proxy votes to be cast is actually Jan 8th. I've asked H-L to submit the proxy this week for me and confirm in writing. I don't want to leave anything to chance. This is our one and only good shot at getting PPG back on track.
I've been on the phone this morning to H-L about receiving a proxy form to vote and they don't send one out. Nor do they notify nominee shareholders that a vote is coming up. So, according to Customer Services the correct procedure is to send them a secure message via your account with instructions on how you want them to vote on your behalf and they will action those instructions via CREST about a week before the AGM. I've also also asked them to confirm to me via secure message that the voting has been carried out. I hope this is of help to all H-L account holders. This vote is too important to risk instructions getting lost by default.
Apparently clients of AJ Bell can vote online. This what they say on their website - 'For EGMs, you can vote online through your account. When an EGM is called, we'll send you a secure message outlining the details, and how you can vote.'
Sounds lot more convenient than postal voting.
I hold 15M and will certainly vote for a change in BoD.
Another nail in the coffin.