Member Info for Poppyseed

The scale that trade makes it essential so watch this space!

What time was that? SelfTrade was no prob for 2m buy and under the mid was too tempting on my mid-term view, things finally bubbling and all that...GL.

2m :-)

Always looked hard for Melissa's requisition to proceed/succeed after the placing was announced so today's news not too surprising. That said, her requisition has already served much of its purpose by provoking the events that have taken place in the days since. More positives than (sadly) we've seen for a very long time even if, for now, those perceived positives remain somewhat tenuous. Just feeling that a meeting or two between the various parties would have been likely and, in order to avoid the "awkwardness" of the proposed EGM for current management, I'm guessing that a number of reassurances, perhaps concessions, will have been put forward as an olive branch from the PRS side by way of examining the scope for withdrawal of the EGM requisition which, of course, happened today. If so, Melissa's acceptance of the olive branch can undoubtedly be seen as a positive signal to us all. Hopefully, in the not too distant, we may all discover what she pressed for and what satisfied her. Could still easily see NL being a casualty of all this but maybe allowing him to depart via a graceful resignation, hopefully then replaced by a strong candidate, in it to take the company forward with fresh purpose to the benefit of us all and not just a serial self-serving wipe!

I agree. If one thing definitely has to change it's that PRS must start to flag up and mirror the RNS events of the investee companies in order to publicise itself. Beyond proper transparency on the things you mention, we also have, for example, major news from i3e this morning and now a release from PLMO telling us of a �80k loan (presumably to progress its RTO) BUT ALSO of NL stepping down there, supposedly to give more attention to his other business interests. There is absolutely no doubt in my mind that NL has had a rocket from our new investors and his cosy, overpaid existence here is at an end. Whether that's achieved by a big shake up from the demands of his new masters or whether he will be forced to step down here too remains to be said but I think one thing is for sure - we are on the cusp of real change - at last!!

..and thinking the last few days can't have been bad for a little tick up in PRS NAV! Which reminds me, didn't GWIK also distribute its CORA Gold shares to its shareholders incl PRS? On which subject, what about GWIK itself? Worthless or a delisted shell with a plan? AvD also a Director there, isn't she?

Another big volume day and, at times, nothing to buy online and sells that would once have seen PRS plummet, only a small effect and only belatedly. Every sign there's an order being worked so I think you're right Imskint but, as ever, we'll have to wait and see. Ms Sturgess not going anywhere - today's RNS merely to adjust her company's percentage holding after the placing.

Implied pay cut and all his options cancelled? Wow, who can doubt that NL is being tightly squeezed by new masters? Not before time, his indulgent personal gravy train has hit the buffers! A fast-moving root and branch shake up is underway, recent events hopefully amounting to a quiet coup and a removal from power of the useless overpaid overlord. Certainly, for now, there's every sign his wings have been well clipped and the step change theory for PRS is firmly on. Even if he does survive, today's RNS shows that the real power now lies elsewhere. No way disrupting his and his Board's cosy existence was on his own initiative. More corporate change news to come, I'm sure. Perhaps also, worth noting that without his big lump of options, NL is now such a tiny ordinary shareholder that he's really badly placed to share in future success. Heavens, he might even have to put his hand in his pocket in the market!

Could be and I also see in the listing document that existing shareholders at the time of ALO's suspension will get the chance to participate in a further raising, expected in Q1 18, at the CRA relisting price (10p).

Possibly connected to ALO returning to AIM tomorrow as Cradle Arc? Last I can see, PRS had 12% and, if nothing else, will do no harm to add this investment again to current listed assets. At best, could it be one of those supposed hidden reasons for Miton Fund coming in when they did? http://cradlearc.com/

Notably not a typical Broker Fee type stake in that the breakdown reveals that 10% of this stake has been taken as a personal holding by James Lewis = "Founder and Managing Partner of Shard Capital Partners and owner of Rubrics Asset Management. Group AUM exceeds USD 1 billion. Prior to getting involved in Asset Management he expanded a small Dutch brokerage from a handful of staff in Amsterdam to a diversified brokerage company with over 150 personnel spread across 9 countries, transacting deals from High Grade to High Yield Fixed Income and Loans...." I see is also a Director of Riverfort Global Capital which PRS has just paired up its future with. So yet another pointer to a new plan here and it augers well that a main player has taken a personal stake.

Q: Why does an Investment Trust buy a big slice of an Investment Company? Is there any other answer than PRS already having something or about to have something (or both) that the Trust Manager cannot otherwise buy better exposure to than via PRS?

https://www2.trustnet.com/managers/factsheet/gervais-williams/utoeic/u/00000wil05/

Hi Imskintagain, for some reason the TR-1, released this morning, announcing that Miton Group, specifically the Miton UK Microcap Trust, had taken a �380k chunk of the placing, does not appear in the Regulatory News on this website. However, details can easily be sourced by putting "Paternoster, TR-1 and Miton" into a search engine. After that, any similar search of the said Miton Trust will lead you to Gervais Williams. Hope this helps.

Melissa looking more of a stalking horse for change than a convincing candidate for Chair. When her Co dived in for a pile at the end of last year, notably where others (even most PI�s) feared to tread, it was always likely she had a cunning plan. Then, when she moves, NL is forced to sit up and act to counter her hostile assault. So her presence is already bearing fruit for us long-sufferers, whether she gets the Chair or not. Personally, I think it�ll be hard for her now to achieve the % vote she needs to oust NL but this may not be as much of a problem now as it was because we are already witnessing tangible change. I cannot remember PRS ever having a proper, credible insti investor on board, let alone one of such scale and such quality! The standing of the Miton Group is among the best and the guy in charge of this particular fund is Gervais Williams, definitely a senior and serious player and in for c. �400k at a stroke: �Gervais Williams joined Miton Group plc in 2011. He manages a number of funds and trusts that aggregate to over �1bn. He is also Senior Executive Director at Miton Group plc. His fund management career extends over 30 years including 17 years at Gartmore Group Ltd, where he was head of UK Small Companies investing in UK smaller companies and Irish equities. Gervais is a member of the AIM Advisory Council, chairman of the Quoted Companies Alliance and a board member of The Investment Association. He is also on the EU Taskforce reviewing why the number of smaller IPOs has declined over recent decades. Gervais Williams published his first book 'Slow Finance' in the autumn of 2011, and his second book 'The Future is Small' was published in November 2014. His most recent book 'The Retreat of Globalisation' was published in December 2016. Gervais is Fund Manager of the CF Miton UK Multi Cap Income Fund, CF Miton UK Smaller Companies Fund, Miton Income Fund, Diverse Income Trust plc, The Investment Company plc and Miton UK MicroCap Trust plc. He was awarded Fund Manager of the Year 2014 by What Investment.� It�s often said that sub-1p shares are too small and risky for Fund Managers. Not this one it seems, despite his stake being taken at barely 1/10th of 1p! If clues to an imminent change of fortune are anything to go by, this looks a very big one! Of Melissa�s bid, I think Gervais Williams is now the stronger driver here and NL can no longer expect to run PRS as a comfortable personal income plan. Melissa�s bid now looks as good as dead and could even be withdrawn as unnecessary. Either PRS/NL perform or he will surely be out. Gervais will now see to that. Wouldn�t be surprised to see a move to both counter the hostile assault and to satisfy the requirements of Gervais coming onboard by NL stepping down willingly idc, to be replaced by a strong candidate, pleasing to all parties? Even a move across for the new non-exec from Riverfort?

I see Hartford Corporate/Mellisa must now feel they've got their ducks in a row (as per my earlier) so it's time to make a move. Pretty clear it was always the plan. Can't see many shareholders voting against change! Watch this space. Pretty well timed with one or two plays set to increase NAV over the immediate weeks and months and hopefully the start of realising the hidden shareholder value. 2018 = our year??

Certainly not good on the surface but, in the context of shenners' point, we should rightly ask ourselves why Ms Sturgess (who interestingly lists PRS Director AvD as a FB friend) would choose now to dive in for over 5%. Her "friendship" suggests a strong indication that she has a good a line to what follows short-term, so if indeed a placing is on the cards, she shows every sign that she's happy to buy in the market and suck it up rather than sit it out and wait to participate in the placing which, on the surface. would seem the most logical and cleverest move. So I reckon that shenners' sub-surface "ducks in a row" theory has more than a little tangible merit to add to just sniffing the air around here.

Hmmm, hostile activist or insider friend? New research results suggest I may have to broaden my previous thinking! Won't disclose (lest it breaches LSE privacy rules) but the link is out there in the public domain and, either way, she has put her company's money behind whatever she either sees, or plans or knows. Interesting times!

Can't help with what value she ever added as an employee but sure hope her investment performance is up to scratch! This might help with where she's been and when: https://relationshipscience.com/melissa-josephine-sturgess-smith-p3640086

Hartford Corporate = NewCo set up only this year by active Australian woman with extensive corporate experience in mining companies. Nothing out there to say that she hasn't made the direly-run, habitually-underperforming PRS her very first notifiable investment for her NewCo. Ripe for boardroom change here so it's good to see what looks like an active investor arrive and I'd guess she's brought her big stick with her. Particularly interesting to note her Linked-In profile which reveals 6 Endorsements in the field of Mergers & Acquisitions; 5 for Strategic Planning; 5 for Business Strategy; 5 for being "good at" Mining; and 4 for...Change Management. Won't get many arguments that a hefty dose of that last one is overdue around these parts. Keep those eyes peeled Nick boyo, your days are looking numbered at last.