Member Info for Sisyphus

at the giveaway price of 19.5p - certainly not the time to add to their coffers. Hepworth are literally knocking our door down to sell them £8.5m at 22p so why sell now at 19.5p? This is bound to be agreed.

The conversion of the £8.5m loan note to equity at 22p a share is brilliant logic as it transforms the balance sheet, NAV and brings a new board member representing a new large shareholder. This massively improves the boardroom and large shareholder balance whilst sending a really positive signal to the market. It would result in Hepworth having 26.6%; Hurley 14.79%; Utilico 11.72%; Topsfield 10.28%; Rab Cap 4.25%; and 4 other II's at around 2-3% each. That still leaves over 70% of the shares in II hands [same as now] but gives greater liquidity and takes away debt repayment of around £1m a year. No brainer this one and all shareholders IMHO should jump at the prospect and agree with proposal. This really would complete the 'transformation' of PAN and any Rosbunker deal would be 'galactic' as one of our board regulars has noted.

Virtually debt free and cash-generative. It would completely remove the £900k annual interest payment on the loan which goes straight to our bottom line profit. This is effectively a 22p a share 'rights issue' applied to one holder who is eager to take it up. That again underpins our upward trajectory and means that the £26m Dan Balt terminal that we bought with the £8.5m loan note is effectively in the asset bag with no debt! We've added a £26m facility for £8.5m of equity at 22p. That's a smart move - a very very smart move and Hepworth know it is excellent value for them and ALL shareholders. Keep the news and contracts flowing!

I did note that conversion was on the horizon in my post below. We have a very lively stream of relevant info at present; a clear sign that we are trading strongly. This move by Hepworth is the clearest indication to date that we are moving to a Rosbunker solution.

Saves us £900k/year and underpins shareprice higher again at 22p. I brought this up as a positive move at the AGM. It is a dilution but at a significant premium to the current shareprice and a great way of releasing money to the company and reducing debt to £335k with assets still at £48m. No brained really as it shows Hepworths appetite for PAN shares at 22p on conversion. Good move at an important time of our growth cycle and will increase liquidity AT a premium price.

Trading relatively quiet despite the raft of recent news and effective underpinning of shares at current price. Interesting to note that we keep getting a moving floor from 13.5p to 19.65p to 21p [buy]. These are effective markers for the upward track of PAN. The next obvious underpin would be 22p if November capitalisation of the loan note is executed by a share conversion at 22p. The 'biggie' would be Rosbunker resolution as a 7am RNS which would have a 'significant' effect as it is the single factor restraining this share - and we are assured a resolution before April 2014. That leaves an awful lot of side-line investors wondering when to take the plunge and buy PAN. The clock is ticking on a massive NAV windfall and the bell could ring anytime between today and April. Too bad for those who hesitate and awake to see the Rosbunker RNS - it will have slipped through your fingers. Not a time to be out of PAN on so many counts. NAV is twice MCap/new investor just picked up 14m shares at 21p/all terminals working at capacity and Dan Balt signing significant bunkering deals securing rising streams/cash generative and growing with focused CEO. This is not a how share - this is a when share. IMHO. Growing predictable income streams established in secure region with dividdend prospects now in sight and expansion an automatic follow-on to Rosbunker resolution.

First class post - brilliant synopsis and history of palpitations turned to progress! Spot-on - can't add any more =))

all with positive impact on the turnover and profit for the current year..................................and Westhouse have yet to revise our profit forecast from the DOWNgrade they issued in June and reiterated in August and September! [What a useless pile of sh*te they are ------- all IMHO obviously]

Monjasa is a big Danish company with operations in Denmark, USA, Singapore and Dubai. It directly owns 18 vessels and has a dynamic, flexible and energetic management with great ethics in marine fuel supply. http://monjasa.com/company/what-we-do They have tasked a 1 year old vessel to effectively 'shuttle' mixed fuel product [that we mix as our bunkering service] between Dan Balt Aabenraa and their vessel refuelling posts for international freight [Don't forget that Maersk is DANISH and the Ska region of the Danish straits is where its vessels also refuel]. http://www.bloomberg.com/news/2013-03-08/europe-to-asia-box-rates-to-defy-global-decline-in-2013-freight.html DYOR and put all these buts together, but a dedicated fuel shuttle is bl**dy good news for PAN Dan Balt.

The 7am Rosbunker RNS is so close I can taste it!!! Boy oh boy will that ignite the shareprice WHEN it happens. Gipsy Petulengro.............next RNS?? End week? Sedentary has become the new 100m Bolt.

Excellent news - Monjasa is huge contract and just got bigger. Talk about 'up and running!' The newsflow here is electrifying at the moment and we are starting to see Dan Balt kick in as promised. Full marks to the CEO - these RNS releases are significant. A real indication that the PAN man is firmly in the driving seat - the Strong Buy just became a Screaming Buy.

Someone just picked up 100k at 1p cheaper than the Alpcot buyer - or was it the same buyer??? All will soon be revealed.

It's equivalent to 30000 Guinness tankers! http://www.flickr.com/photos/marlandpictures/6701396577/ Hic! =)))

I have to agree with you but I've had no problem since initial glitch. E-mail john@foxmarble.net and tell him your problem and lack of resolution. Sure you'll get quick reply - keep me posted.

so who bought the 14% as I'm sure it wasn't an MM holding them on the books [otherwise it will soar!] VOTEHOLDER’S NOTIFICATION OBLIGATION The main rule is that a person (the voteholder) must notify an applicable company as soon as possible but within two trading days if, as a result either of an acquisition or disposal of shares in the company or of changes in the total voting rights attached to the company’s shares, the percentage of voting rights which he holds, or has control over, reaches, exceeds or falls below three per cent and each additional one per cent above (DTR5.1.2R and 5.8.3R). - tictoc - and they were all mopped up for 21p.

hadn't realised just how big our terminal facilities were until I did the maths and looked at relative volumes - to be able to fill two-thirds of One Canada Square with it is quite impressive.

20p is the 'new mid-price floor' - Alpcot got 21p a share so whoever bought those is happy at prices higher than this [why has someone just sold at 19.5p??] Newsflow to come - identity of the buyer [new investor or accumulator] - imminent appointment of new FD - more lucrative contracts at Dan Balt - news on Rosbunker. Tic-toc-tic-toc-tic-toc

Think we might have to wait till Tuesday =)

We have 400000 cubic metres oil storage terminal capacity excluding Rosbunker. So how big is that? Pretty damn huge actually!!! It's enough to fill 160 Olympic size swimming pools or enough to cover the football pitch at Chelsea to a depth of 56 METRES or enough to two-thirds fill the Nat West Tower at One Canada Square!!! That's certainly no small oil storage/transhipment capability - astounded me when I worked out just how much capacity we now handle.

I agree with you about irrelevant newsflow, but this stream is all high impact. PAN has been guilty in the past; and has faced PI criticism for not highlighting big positive moves. It has always tended to 'shield its positives' and release lukewarm news items. This is refreshing. We are separating items and giving them relevance. Whatever else, it raises our profile and encourages debate. That encourages research and investment. We are actually sticking our head above the parapet and making commentators, analysts and investors take notice. Yes it exposes us to thorough research, and we have had many praises and criticisms in the past, but I welcome the research and recommendations that get us into publications and tipsheets. We certainly deserve more publicity oven the transformation that has happened since the Baltic Oil days. Confirmation of this is no clearer than in the comments of the Alpcot director yesterday - praise indeed. We have grown so successfully OUT of Eastern Europe/Russia that we 'no longer fitted in with the investment criteria of his/that type of fund'. The Baltic caterpillar has become the PAN butterfly.