The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
They will have 16% more shares but they'll also have £13k extra cash.
There is one local guy who I think would make a great NED. That is John Elliot from EBAC. This guy knows how to make things and get them out the door. Between the two of them they would be formidable.
Well I never lost anything but 60k would have made life a lot easier.
I think old age has caught up with me and my money is going into safe and steady stocks that pay a steady yield. I will miss the excitement. It was like having a little gamble every day.
My problem with Petrel is it has no assets and when it comes to winning contracts I just think the people dishing anything worthwhile out will take the safe option and go with the big boys.
I bought 250k @ 1.2p some long while ago. At one time they were worth 60k but I couldn't trade them because they were with SVS who went into administration. By the time so I got them back the value had plummeted. I made a small profit but a fortune disappeared before my eyes
It would not have been credible to pay a dividend while trying to get other parties to defer loans and rents. Even when Corona virus is no longer an issue paying off the loans would reduce risk in the business. The long term strategy needs a rethink.
I think commentators are wrong on this stock. Yes you can stream but people enjoy going to the cinema.
There could be some downward pressure in the next few weeks. Many SVS clients bought Petrel shares. After they went into administration the client could not buy or sell shares. This should be resolved in the next couple of months and they will be free to trade.
I would like him to buy the remaining share that he does not own and relist the company when he introduces his assets. He can not be expected to donate £49 m of assets to other people and all these unpaid shares and selling of locked in shares are messing the company up. The big problem now is what would be a fair price.
Are there no regulators who should be getting involved in this? This company is being ruined and lots of people losing significant sums by this chancers but there is not a peep from any regulator. AIM is for gamblers not investors. No more AIM shares for me.
I can't understand what Tamraz is doing. He approached Petrel. Someone has made cash by getting shares for 1p and selling them for 20p plus. However the amount of the gain is small compared to his reported wealth and the damage to his reputation.
He has created a complete mess at Petrel. He has a controlling interest but seems to have no commitment. Where do we go from here?
Not paying for the shares could be an oversight or cash flow problem. Selling shares you have agreed mot to sell needs an explanation.
They were 1.5p before the Concert Party came along. They are worth less now.
If AIM don't deal with this their credibility is zero. The people involved need investigating by the police.
The only person who has acted properly is the secretary of the company.
SVS were stockbrokers that went into administration. You don't lose your shares but you can't trade them until the administrator finds a new broker to handle the accounts. If you have Petrel Shares, unlike these dodgy directors, you can't buy or sell them.
The shares increased in value on the news these guys joined the company otherwise they would still be trading in the 1-2p range. If at the end of 12 months they have not hatched a deal everyone's shares, including theirs will be worth a penny. If they come up with a big deal who knows what the price will be but it should be a lot higher.
It gives them an incentive. I am happy with the deal.