Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
What a load of old tosh
Rockpool want some of their money back, it isn't Rockpool's debt.
They will need to be able to sell ice to eskimos to get the valuations you are talking about.
But it is assuming a tangible asset value which will not ever materialise in my view. Old tech, no one wants diesel sites, time limited operability.
Attune Energy, one of the SPVs, owes £1.8m to creditors for example. Take a look.
The assets will not return anything to PPG once sold. The debt owed on them will outweigh the value of them.
All aboard the good ship Plutus, glug,glug,glug.
Pump it Boys
Looking forward to that RNS, a RTO and change of direction selling diesel bangers down the auctions. A new director maybe...that bloke off Wheeler Dealers. Can’t wait.
Agree Pablo, it is just a pump to allow some people to get out...nothing to see here.
The debt owed on the SPVs outweighs the value of the assets so 44.5% of nothing is nothing. They are not guaranteed the monies owed by Rockpool as per previous RNS statement and the clincher for everyone should be that Chelverton sold out of this dog and the clowns running it with a whopping loss of £293,000. Don’t touch it...not even with a smelly stick.
Also there is no guarantee that they will ever get the unpaid management fees either. See RNS extract.
The loss of management fees will have a negative impact on the Company's working capital position as this is presently the Group's sole revenue stream. The Group is currently owed to 21 October 2019, through its subsidiary Plutus Energy Limited, c.£610,000 in accrued and deferred fees from Rockpool. There can be no certainty as to when these accrued and deferred fees will be received by the Company.
44.5 % of nothing is nothing. The debt owed on the SPV's outweighs the value of them.
If anyone can make that happen, then you can Merlin
If anyone can make that happen, then you can Merlin
Good luck with that
Wonder if Riverfort are all the way out as well. Probably why bb needs to rope some dopes in order to get everyone out of this dog. There will not be a holding RNS for Riverfort to get out, I think they reduced under 3% last time.
This may be a good thing for the traders and the like short term but seeing that Chelverton has crystalised a whopping £293K loss on their investment, tells me not to touch this with a crappy stick.
Yes, Tatty has put the kettle on....come on bb
Chelverton publish monthly net asset statements and if PPG disappears off that list published later this month then we’ll know it was them that sold out.