Member Info for Piltick

Gone nuts!

streaky, I can't believe that suggestion that if you don't vote it will be counted as a yes. I am quite sure it will be counted as abstain.

I was speaking to my broker (Barclays) and they didn't have this transaction showing up as a Corporate Action either. So if you want to vote, I reckon you will need to speak to your broker and ask them to put forward a proxy vote on your behalf. That's what I have done, through Barclays.

Haven't seen any "Noes" yet. No doubt they will be coming, or perhaps they would prefer to stay quiet!

Boffin, as Per is now the "developer" and they will be issuing the contracts for the various building pieces, I suspect it is Peel who will have to determine the time-line, not PHE. But perhaps PHE will be able to give an indication at the AGM, or perhaps beforehand.

A lot of work has been going on during the covid anyway. I don't mean physical construction, but engineering design etc. and organisation, things that can be fabricated off-site etc.

Thanks jupitermars for the link. Excellent video, and David seems more confident than I have seen him in previous videos. I would have liked him to give us some idea of timeline as I have no doubt there will have been delays since the last estimate of timing for the building and commissioning of the Protos plant, but I'm sure we will get that in due course. David is good at communicating with investors and the market.

But PHE are not having to fund the projects, PEEL are covering that.

Once they get a decent level of equity into the company, they will be in a much better position to persuade a bank or financial institution to provide substantial debt funding to grow the business.

Southerhay, could it be because AFC doesn't appear to respond to emails from shareholders?

operastar: My shares are held with Barclays in a nominee a/c, and they have told me that if I phone them they will put in my vote to the company on my behalf. Your broker will probably do the same.

I expect that any PHE shares that are still held by W2T will be returned to PHE for cancellation at the the point of completion of the takeover.

stokey: Goodwill doesn't come into the equation because PHE are not paying cash, they are issuing PHE shares in payment. The new shares will be entered into the accounts of PHE at the nominal price of 0.05p i.e. a total of £7.2M.

Upon completion of the takeover transaction, PHE will own 100% of W2T shares. At that point W2T will still exist as a company, but will be a 100% subsidiary of PHE. I note in the circular document (item 6, page 19) that it states "The Board will also commence steps to wind up W2T’s two wholly owned, dormant subsidiaries (W2T Protos and W2T International) and W2T as an entity as soon as reasonably practical after Completion."

So at that stage the assets and liabilities of W2T will be merged with those of PHE and W2T will cease to exist as a company. I'm pleased that they intend to carry out that final tidy-up job, because it is the cleanest and most sensible way to complete the merger, in my view.

Thanks stokey. I should have been aware of that.

Where did Bingley come from?

It's on the company's web site, and here:
https://polaris.brighterir.com/public/powerhouse_energy/news/rns/story/xznz9lx

I'm not on L@, but just did a "dummy sell" and was offered 3.475.

Very similar to stories in the Far East. I think it is absolutely disgraceful that the UK is sending its trash to Turkey and other countries, for it to be thrown onto trash mountains or into the oceans. We are a a developed country, surely we should have been dealing with our own waste.

stokey, I thought you said you don't do irony?!

That was probably just the MMs fishing for stop-losses.