George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
All aboard the pump...£2.63m MC for this is laughable
The next pump & dump is coming....all aboard
They used to be in the energy business until the experts either died or left. The people left are the existing BOD who are a reflection of the company that is left....a dirty shell.
Cool, I'll bow to your superior knowledge about shell companies...I'll crack the champagne if anyone manages to get the shysters booted out. We live in hope.
MCap should be around £200k so the share price should be around 0.00004 a share. Why would the MCap be 4 times what the company is currently worth ? Also I think you've missed two zeros off your share valuation. Should be 0.00015 for a £750-800K MCap.
The BOD will always line their own pockets at the expense of the shareholders. Whatever money is left, it will find its way into their pockets somehow. I guess going private is a method to burn the books. Dodgy characters this lot.
I can't say why people would buy into this. But there will be share dilution when the placing happens.
Great news for the BOD, not so great if you're a shareholder
But even betting on the company becoming a shell is really dodgy at best. Rockpool hold all the aces as far as that is concerned and out of the BODs hands.....thankfully.
Not even a cash shell yet, when the placing happens, it should have enough money to buy a chippy somewhere.
Consents from Rockpool need to be received before any demerger happens. Rockpool are currently reluctant to give that consent. Info in last RNS.
Only if Rockpool have a change of mind really. Personally, I think you'll see Lord Lucan riding Shergar before that happens.
Nothing, PPG was a cash cow for them.....they have no expertise in the energy field, they admit as much in the latest RNS.
Following the departure of Paul Lazarevic the Company was potentially in breach of their management contracts with Rockpool due to the Company not having the necessary competent personnel to carry out the obligations stipulated in these management contracts. Under the management contracts the Company had a 60-day period to remedy this breach. The Directors were unable to remedy this breach despite proposing third party contractors to run the sites. These contractors withdrew their offer due to the short-term nature of the contracts.
The current proposals are dependant on Rockpool's consent. If they decide to not give the consent, then the whole deal is scuppered, regardless of the shareholder vote. I don't think Rockpool have a great relationship with the BOD and therefore this whole proposal is dead in the water. Knowing Rockpool, they'll just write it off. See RNS extract.
The Company is also seeking to, following completion of the Proposals, demerge the Plutus Energy Investment Portfolio once the relevant consents have been granted by Rockpool. At the present time the Board of Plutus believe that Rockpool are unnecessarily withholding consent. The demerger of the Plutus Energy Investment Portfolio will be subject to approval by shareholders at a later date however there can be no guarantee at this stage that consent will be received from Rockpool and that the Company will be in a position to implement the demerger of the Plutus Energy Investment Portfolio. Nor can there be any guarantee as to the timing or the terms of any consent being received from Rockpool.
6 months and counting....Then the cash cow finally dies.
£215K is a night out on the lash for the BOD. The only thing that will be acquired with that money is a couple of bigger livers. I must say they are good at ripping people off though.
I thought I saw Tatty on top of Box Hill with a kid’s windmill....it will 10 bag with that news.