Member Info for DRichi

Results of General Meeting: President Energy (AIM: PPC), the energy company with a diverse portfolio of production and exploration assets, announces that all resolutions proposed to shareholders at the Company's General Meeting held at 11.00am today were duly passed.

All systems go then. Now let's see the details. How many shares will there be in Atome, and how many will we get??

At the moment, President own 85% of shares of Atome. they are keeping 25%, and will distribute the remaining 60% as in-specie shares to existing PPC shareholders. The RNSs have confirmed that.

The thing to be cautious of though is the usual PPC problem. There is a footnote saying further funding maybe* required. We know PPC does this by issuing more shares, so we can expect the same modus operandi from Atome. So although we might own 60% of the shares in issue on IPO date, it's not unlikely that more shares will be issued soon after

I think PL's managerial career achievements are a bit like Jose Mourinho. Imperial Energy was his Porto/Chelsea/Inter phase, now President is a bit more like Tottenham and/or Roma. The resources not quite in the same league as the earlier teams, but we keep hoping that the winning ways can make a big return...

Welcome back. Hopefully this is the optimal time to get in. Who knows the Record Date to hold PPC shares to get the in-specie Atom dividend might be this Thursday with the meeting. (Just a guess btw, I have no info that's not available to all).

The triche well going back to capacity, and the gas workovers in Rio Negro will both (hopefully) be good news success stories, but won't by themselves add much to the SP.
A concrete agreement in Paraguay for a farm-out with an established respected 3rd party, and a hit in PG could theoretically be really good for the SP.
One other thing that it is also scheduled for this year (although appreciate dates might slip) is the IPO for Atome. Once the ratio of PPC shares to Atome inspecie shares is confirmed, and a Record Date given, we might see some buying in to PPC in order to take advantage of this dividend.

Agreed. It'll be very interesting to see how much interest the Atome IPO gets. As a unique opportunity to invest in green energy, hopefully it'll get picked up in the media and get lots of publicity.

News that Mark Carney has raised $130 Trillion dollars to invest in Atome*
https://www.ft.com/content/8f7323c8-3197-4a69-9fcd-1965f3df40a7

*Actually the article doesn't mention Atome all all(!), but it is money to invest in green energy, and a good indication of what funds will invest in, so hopefully Atome can get a piece of the pie

From the AGM,
"Background to the Capital Reduction
The Company does not have sufficient distributable reserves to enable the Board to recommend the payment
of dividends should it be considered desirable to do so in the future. The Board therefore proposes that the
Capital Reduction be effected in order to increase the distributable reserves of the Company.
At 31 December 2020, the Company had retained losses of $148.8 million. At the same date, the amount
standing to the credit of the Company’s share premium account amounted to $258.0 million. The Capital
Reduction, if approved and made effective, will be sufficient to eliminate the retained losses and create
distributable reserves. The Capital Reduction is proposed to be effected by cancelling the balance standing to
the credit of the Company's share premium account. Cancelling the balance of the Company's share premium
account will, subject to the discharge of any undertakings required by the Court, be sufficient to eliminate the
deficit to the retained loss account and create positive distributable reserves As a result, any positive
distributable reserves generated by the Company after the date on which the Capital Reduction takes effect
would also be available for the Board to use for the purposes of paying dividends.
It is therefore proposed that the amount standing to the credit of the Company’s share premium account (such
amount being $258.0 million, as at 31 December 2020) is cancelled."

Full details here- https://wp-presidentenergyplc-2020.s3.eu-west-2.amazonaws.com/media/2021/08/27140331/261822-President-Energy-AR-WEB.pdf

The Share Premium account holds cash. Like the + side on a Balance Sheet. As at end of 2020, President held $258Million in cash, but had retained losses of $149M.

There was a motion at the AGM where there Share Premium account would be closed, and the money used to pay any debts, and then then left over amount (aprox $109M presumably) would be paid out to buy shares in Atome (which will then be distributed by way of in-specie to us PPC shareholders)

That's my interpretation anyway. Guess we will find out the exact details when the deal is proposed.

Olivier Mussat, CEO of ATOME, commented:

"The exciting potential of ATOME in green hydrogen and ammonia production together with its projects gave me no hesitation when I was invited by Peter to become CEO of ATOME.

"Having worked with both electrons and hydrocarbon molecules as energy carriers, I believe that green hydrogen and ammonia is the best chance to deliver the energy transition.

"ATOME has the right expertise and the right strategy to deliver realistic projects,located in the right areas, near readily available baseload green power on tap 24/7 with access to land, water,transport links and end markets with the right partners to fulfil these business objectives."

Positives....? Well a .15p (8%) rise today is pretty good. If we can have that again tomorrow President will be 2.1p a share, and be the highest price it's been for over a Quarter. Here's hoping that for the rest of this year PPC's SP will be bluer than a Roy Chubby Brown show.

Last Monday's RNS said;
ATOME's Board includes: The CEO of ATOME, a European national, to be named when the individual joins on 1 November 2021, is recognised as a well-known expert in the green and traditional energy sectors, with particular emphasis on strategy, equity and finance, currently occupying a senior position within the largest global development finance institution.

https://www.atomeplc.com/

News due today.......

It was July when this share was last over 2p. Hopefully it can get back past there soon....

That's good Atome/PPC getting mentioned. I expect that the Atome IPO will attract quite a bit of media attention which should hopefully bring in a lot of new investors

Keep posting AllinEol- it's nice to see positivity here. Being positive is very different to ramping. We're all invested here, so rather than being upset about a depreciated SP, it's better for our sanity to hope that it will come good one day, and who knows, there's a few irons in the fire, Salta, Paraguay farm-out, Atome, this could look like a much better proposition by the end of the year, and a different one altogether by the end of next year....

Disclaimer: the value of your investments might go down as well as up. Buy some shares and welcome to the casino.....

Every fund has a mandate, that the Fund Manager has to stick to. Eg. An Emerging markets fund can buy positions in Brazil, China, India, Russia, but not the USA or UK. A tech fund can only take positions in Tech stocks. Increasingly there are more funds specializing in Environmental, or Ethical products only, and President Energy does not fit in their mandates, but Atome Ltd will. By having Atome as a separate (child) company, it can (potentially/hopefully) be invested in by a lot of ii's that wouldn't consider investing in President.

Ambassador Ramin Navai commented: "We are very excited about this news. The future production of green hydrogen and ammonia would be a great bilateral achievement, with the UK providing its expertise, and Paraguay providing its clean energy from Itaipu. We are going to produce green energy with green energy! That’s the way forward to a commercially competitive future, in an environmentally friendly way."

The future is green.....

Good news yesterday, and a bit of chatter then all back quiet here today. Be good to see a few Blue days in a row. I believe we are expecting news of the farm-out in Paraguay by end of Oct, so if we can get a positive RNS about that this week that should give the SP a push up, and some good news from the drilling in Salta would be nice too.

C'mon PPC, manage your newsflow and let's get this SP moving....

Just guessing, but I think the majority will actually be Buys, and the calculated Buy/Sell field is incorrect as the actual Ask is lower than the 2p quoted above.

Paraguay

ATOME is the beneficial owner of Atome Paraguay S.A. led by James Spalding.

ATOME has entered into a Memorandum of Understanding with the Paraguayan innovation arm of Itaipu Technology Park for the future location of its planned 250 MW green hydrogen and ammonia facility approximately 1km from the Itaipu dam itself, adjacent to water and with transport access.

ATOME intends that production will be ramped up from an initial 50 MW unit commencing end 2024 with significant potential local end markets. All goods are carried by road or barge in Paraguay and the country is a significant user of fertiliser to support its large agrarian economy. As a member of Mercosur and with Itaipu bordering Brazil and Argentina with river access to the ocean through to Buenos Aires, international export markets are also available.

The project is aligned, among others, to Paraguay's Green Hydrogen Roadmap and decarbonization goals established in its National Development Plan 2030, as well as the objectives in the country's Nationally Determined Contributions (NDC) within the framework of the Paris Accord.

Further details on ATOME and its projects will be given nearer the time of flotation but in the meantime for additional information please visit www.atomeplc.com or contact info@atomeplc.com