Member Info for stokey12

As tomorrow is the last trading day of the decade what would you like to happen. My bank manager would like the share price would go over 1p s I can stop spending his money. I know unreasonable of him. I would like a end of the decade operational update which lifts the share price.

BumbleB - In part yes. Everyone has been saying that shares totalling 66% of the issued share capital of PHE will be issued to purchase the entire share capital of W2T. As of 4 December 2019 when the last allotment of shares was made the total share capital of W2T came to 1,287,581. I know my maths is ropey but even I can see that this would mean that W2T shareholders will be getting something like 1,000 PHE shares for each W2T shares. I cannot see any justification for such a share swap.

Manabouttown - In relation o your 13.36 post having repeatedly saideffectively that if shareholders did not approve this deal PHE will be finished. I think as I have explained why I disagree with you it is only fair that you explain the basis for your view. I do not see Peel walking away from this deal if the prposed tie up does not go through.

Manaboutown - In respect of your 11.54 post while this deal has clear advantages for PHE I would disagree that PHE would be all but dead without it. While it is the case that the Peel deal is the most advanced deal it is not the only deal. If I recall correctly at the AGM in answer to a question to me DR stated that there were I believe six major recyclers among the 24 customers that they were in discussion with. So assuming that PHE has not picked up any new customers since the AGM then they would still have those six customers as will as the other 18.Also it should be noted that those 24 customers were all UK based and did not include a Spanish customer they were in discussion with who was looking at a 50 tonne a day unit. In addition by the end of the week PHE would have gone 13 months without an equity fundraise so it would appear to be in a robust financial state.

Piltick - Thanks for clarifying this for those of us who can just about remember that 1 + 1 = 3

Manabouttown - In respect of your 09.39 post far be it for me to disagree with you but it is not as simple as you seem to think. As a matter of company law PHE cannot sell shares for less than its nominal share price in this case 0.5p. Therefore it could be argued that in a share swap which is in effect what this would be the notional price of the PHE shares being used to determine how many shares W2T shareholders will get for thier shares cannot be less than the nominal share price of PHE shares.

Manabouttown - In your 08.49 post you missed the point I was making in my 08.12 post. The point I was trying to make is that I do not believe that the number of shares that will be issued to complete the purchase of W2T will be as high as people were suggesting last week. We will see if I am right when the shareholder circular comes out next week.

Powerhouse entered into the arrangement with W2T so that they would not have to massively dilute shareholder value to get the project going. In that case why will they now massively dilute shareholders value to purchase W2T? As this is an all share offer we need to bear in mind that the nominal share value of 1 PHE share is 50 times greater than the nominal share price of 1 share in W2T. Also the last allotment of shares in W2T was at the nominal share price.

operastar - My 09.15 post was a response to Newboy58's post of 09.12. As I undrstand it if a company is dissolved then its assets become Bona Vacantia and revert to the Crown. That does not mean they become valueless it just means that The Solicitor for the affairs of the Treasury to give him his full corporate title will own them and would administer them on the behalf of the Crown. He can if he wishes dispose of the assets.

Newboy58 - In those circumstances the lease for Plot 10B which is one of W2T's assets will go to the Crown as Bona Vacantia

Sheepynerd - In respect of your 08.56 have you actually compared the assets of the two companies? The most recent audited accounts for PHE show net assets of £804,102. W2T in there most recently filed accounts which only consisted of the balance sheet showed a net liability of around £500,000. Since those accounts W2T have acquired the long lease on Plot 10B at Protos. I am not sure what the carrying value is of this asset but I do not see it being anywhere near the £1.5m needed for a reverse takeover situation to arise. Also in relation to going global that would be after the acquisition as would the £1bn valuation you mention.

I am awaiting the shareholder circular before making a final decision but on the basis that PHE will acquire the lease for Plot 10B then I am more likely to support this than when I first saw the RNS on Monday.

z-Cars - In relation to your 20.57 post of yesterday it is more likely that PHE's Accountants, Solicitors and Auditors would have poured over the details and done the due dilligence on this rather than a company like Rothschild.

Those of you who are invested through a broker using thier nominee account may wish to contact them to request that you be sent a copy of the shareholder circular relating to acquisition of W2T. They will probably send it but best be safe. There is also no guarantee that it will be attached to or linked from the RNS.

Does anybody know the reason for the tick up in the share price going into the close?

Manabouttown - in relation to your 12.05 post if we have a positive RNS during the next two trading days to see an end to the year then I agree the share price may go higher.

Piltick - In relation to your 16.28 post I would observe that some Institutional Investors will or cannot invest in PHE as it is on AIM.

Operastar - The RNS is from the 10 April of this year.

Gadams - I had forgotten until I was trying to workout who would be running the site then I remembered. The RNS from April is here https://www.lse.co.uk/rns/PHE/powerhouse-energy-group-plc-lease-agreed-for-hydrogen-development-site-b7xim615ajmo7pc.html.

Manabouttown - In relation to your 12.08 post people on this board have legitimate concerns about the proposed acquisition of W2T. Until I recalled today that W2T have leased the plot on which the DMG Unit will be built I also had concerns. Most of those have gone away. I see no reason why people should not raise concerns as they may have those concerns allayed allowing hem to be supportive of the proposal which will make the Board of PHE's job easier.

I forgot W2T have a long lease on the Plot that the Protos unit is on. It is the only real asset it has so by acquiring W2T Powerhouse depending on the terms of the acquisition will also get ownership of the Protos site. Therefore depending on the split between Peel and W2T under the collaboration agreement would give Powerhouse as the parent company an increased revenue. On that basis £4m seems a fair valuation as it wouold be recouped within three to four years.