Member Info for Mattk6

You're wasting your time Tiger - there's nobody here but us chickens.

The RNS of 31/01/2025 says the auditors would be unable to complete the audit until 'the end of April' so I guess based on that statement most are expecting news end of April/early May. I do wonder how much the audit is costing them as it's been going on for almost 9 months now!

That idiot sold up on Friday to buy in to CPAI instead. He's a classic 'rainbow chaser' who will end up with nothing. This board is a lot better off without his presence.

Timbo - I’m aware the Sale of Goods Act doesn’t cover shares, was just kidding. Thanks for info. regarding reconvened AGM. If we use the 11th April date, we may hear on April Fool’s Day then, which would be fitting!

Zag - that's a good point. Not if the company's articles allow for less than 21 days notice following an adjourned original meeting (not going to check PPP but let's assume this is the case). The basic situation though is they should have held an AGM by end of September under the amended rules as 15 months was deemed too long not to update shareholders. With the accounts not being filed maybe there's some loophole around it. I still don't know if the new CEO being from the company they made a deal with is even allowed, sounds corrupt to me but a lot of this dubious activity goes on in business circles. I'm annoyed that Hargreaves Lansdown allowed me to purchase this rubbish in the first place! I'll try to get them under the Sale of Goods Act if I lose my money...

Talking of the new CEO - that Globalvision website is really poor and the last 'news' update (about the acquisition of Nobel Petroleum) was in July 2024. I'm pretty sure absolutely nothing has happened since. Still, i'm fully confident PPP will be 100p by year end, the next operational update will blow your socks off (even if not wearing any). I could tell you more but i'm going to keep it to myself (certainly won't tell affrm). See you at the AGM...

Actually, going by the new Companies Act rules, the AGM is supposed to be held within 6 months of the financial year end for all public companies. PPP's year end was 31st March 2024 so should have therefore have been held no later than 30th September 2024. Not sure how they've got away with not holding it for this long but it shows that clearly there is no 'action group' at work trying to force them to do something as they could have been made to hold one. On another note, the new CEO also appears to be an absolute waste of space.

So the rule on an AGM is that it must be held within 15 months of the previous AGM. PPP held their last one on 11th January 2024 ,so 15 months would be 11th April 2025. However, they must also give 21 days clear notice of the AGM to shareholders, that should have been this past Friday, 21st March 2025. So basically they are now in breach of the rules and can be forced to hold an AGM by shareholders. Over to you then Tom Evans...

Silverlight - BY May means before the start of May (i.e. end of April), IN May means it could be up to and including 31st May, which is a big difference. I'm sure I'm not the only one who will notice the deliberate change of wording.

I see the wording has changed in today's RNS from 'lodged with DEMIRS by May 2025' (03/03 RNS) to 'lodged with DEMIRS IN May 2025' which is a bit disappointing as it sounds like it could be another month further down the line until drilling...

ARM was nothing to do with Olivetti - the ARM processor was developed by Acorn Computers (ARM originally stood for Acorn Risc Machine). Not in any way relevant in terms of GEX, but just don’t like to see Olivetti being credited with the founding of ARM!

So we are being led to believe that they've spent 2 months struggling to complete the EIS due to the terrible stormy weather. This is Australia right, not India during Monsoon season? The way it reads, they've not done any work on the expanded EIS since Christmas...

Affrm - Why are you imagining there could be an excellent operational update? The Globalvision deal hasn't yet been completed, as announced by the company in December. This means that there has been no progress whatsover since the deal was agreed in July 2024. If you believe differently then you are living in fantasy land. If anything was happening they would have announced it and it would be on the Globalvision website. No news, no progress.

Affrm’s posts range from ‘I don’t trust Stephen Lunn’ to ‘believe me when this comes back it will be 50p’ to ‘oh dear, let’s all hope it comes back’. Total fool…

MyIPA - ditto

Timbo237 - What I know is that you probably regret your investment here just as much as I do...

Now i'm going, I really do have better things to do than to address shorters/plonkers/nutters.

Says the guy reading & posting here on a sunny Sunday afternoon. I thought Tiger16 was stupid, but you my friend are stupid & supercilious, bad combination...

Timbo, you and affrm & MIPA and others have all in the past alluded to the Telegram group have some 'inside knowledge' about the company when none of you knew that the AGM would be postponed, Menzel would be appointed CEO, Tom would resign etc. You can believe what you want but maybe keep your daydreams to yourself.

Oh clear off Timbo237 - you have no more idea than the rest of us what's going on. The FACT is that this company has been run appallingly by Tom Evans and if he is in breach of his duties as CEO then I really hope they take him to the cleaners!

I'm thinking most if these may apply!

Situations where a CEO can be sued:

Breach of fiduciary duty: Failing to act in the best interests of the company or shareholders.

Misrepresentation: Making false or misleading statements to investors or customers.

Negligence: Failing to exercise reasonable care in their duties, leading to harm.

Fraudulent conduct: Intentionally deceiving others for personal gain

Personal guarantees: If the CEO has personally guaranteed a company debt

Breach of contract: If the CEO personally enters into a contract and fails to fulfill its terms

Hope so Zag. If the money from the recent placings has disappeared I should hope they are planning to sue Tom Evans for 'misuse of company funds'. There are probably grounds for 'making false statements' as well if the investors for the placings were mislead about the viability of the company.

I'm not sure I understand the talk of PPP having 'no money'. The company confirmed in an RNS release (27/11) that the £300k placing & the £120k placing money had been received by the company (it's not clear re. the other £360k - assume not). So at least £420k received. Given that the company has no office, no staff, no LSE listing fee as suspended, & since August 1st 2024 have not actually done anything, I can't see how the majority of this money could be spent - unless Tom's had it away in a big sack...