Member Info for deltavegatheta

Hepran, you are trying to shoot the messenger again.

ASI, my thoughts go out to your family this Christmas time.

Hepran, after the RTO I agree the marcap will be a lot higher, but if you objectively look at what PPP has today and companies in similar positions it's CURRENT market value is clearly a lot lower than in July 2024.

ASI: Traders would call the 9.55p a "stale price", in-fact a very stale price.

Newuncle: The two sides don't need any encouragement from me, just read your own posts! If someone, regardless of side, posts something that isn't accurate then sometimes I correct it.

ASI. Market cap is number of shares time CURRENT share price.

ASI: "today’s market cap of about £10.15m"

No, marcap in July 2024 was £10.15m. Todays marcap must be a lot lower. Shell companies on LSE like AC8, ASHI, PRIS, ROC all have marcaps under £1m.

Zag: "these are not special resolutions "

Resolution 2 is a Special Resolution so requirers 75%

Zag, I referenced the RNS. I'm not going to get into a debate about the difference between "reasonable to expect that the Company will be forced to remain in suspension " and "little chance of PPP coming out of suspension".

RNS Sept 25th: "In the event that the Heads of Agreement surrounding the contemplated new business activity, to be approved by shareholders, continues to advance as it currently is, then it is also reasonable to expect that the Company will be forced to remain in suspension pending that transaction completing. "

The "new business activity" is continuing to advance with the HoT now signed and RMD installing the CEO/Chairman, so there is little chance of PPP coming out of suspension before the RTO is completed.

In 2013 a company called PTO, listed on the ASX, purchased the Limnytska licence for around $3m:

However they failed to get the investment required to develop the license and sold it in 2015 for the nominal sum of $1.00.

https://announcements.asx.com.au/asxpdf/20130404/pdf/42f1t344r49lr9.pdf

https://announcements.asx.com.au/asxpdf/20150821/pdf/430pt8ns4bk9qk.pdf

Note PTO became Cossack Energy which became Galicia Energy Corporation.

Some interesting slides here:

https://announcements.asx.com.au/asxpdf/20130715/pdf/42h1scmzfczr52.pdf

The interims covering April 2025 to Sept 2025 are due December 31st.

Affrm: "No way would they be here if ppp was worthless."

That's the only reason RMD are interested in PPP, as a shell company with zero assets.

Here's the wording of the previous AGM resolution:

"This is an Ordinary Resolution authorising the directors to allot and issue ordinary shares and grant rights to subscribe for shares up an aggregate nominal value of £1,002,991. The authority will expire at the

commencement of the next Annual General Meeting following this meeting or 30 September 2024, whichever is the earlier to occur."

So the authority has double run out now as we're past the date and had an AGM. Usually AGMs ask for a new authority to replace the old one, but Lunn didn't dare ask.

Note that Tom issued the 12p shares on 27 November 2024 and Lunn tries to issue shares via the Dutch auction, both past the expiration date.

Both sides resort to attacking the messenger whenever someone shares something that doesn't align with their narrative and they can't refute it.

I noticed that out of all the potential projects the new CEO mentioned, Texas wasn't included. I suspect the COO only brought up Texas the other day to appease some shareholders before the vote. RMD clearly has other priorities.

Whoever it is they will have no connection to PPP, RMD wouldn't risk the reputational damage.

Most likely candidate must be Ron Derrickson himself as Chairman, but he is 84.

Even more interestingly he also wrote this book about the challenges of doing business in the Ukraine:

https://books.google.co.uk/books/about/Ukrainian_Scorpions.html?id=FUa2EAAAQBAJ&redir_esc=y

Affirm: how much is a cash shell on the main market worth?”

I looked around for examples and found AC8, ASHI, PRIS and ROC. All have marcaps of well under £1m.

Agreed, but Lunn said in the RNS they will relist on the Main market

Hepran, can you put forward another path that results in PPP hitting the £30m threshold (confirmed by Lunn) without the need for massive dilution?

Yes but the 95% part could comprise of new money as well as RMD's interest.

Also expect Lunn to end up with a few % of the new Co it he manages to see it across the line.