Beware PTR bearing gifts29 Nov 2016 16:06
Nicholas Lee and Peter Redmond have pulled this trick before. In Dec 2011, PTR, then called VIRIDAS bought a stake in LDP, one of Redmond's former cash shells - I think it was about 600 million shares at 0.15p each, shortly before share price rocketed. Shortly after Nicholas Lee was appointed director and just over a year later sold his stake and stepped. Can't remember what VIRIDAS made on that company but I think it was north of a MILL. Not long after LDPs principle investment in MANAS fell through the floor, now LDP is no longer trading. Check out the details on LDP's old RNSs. I would guess if Lee has come on board then there is a big deal in the offing for PIRI, I know there was talk of an RTO.
The phrase 'thick as thieves' springs to mind - not sure why.