The Reason I voted NO :20 Dec 2025 21:03
1. Clearly there was something seriously dishonest surrounding the management of PPP by the late Company secretary Anton T ..
Shares moved to various companies without explanation or shareholder authority .
2. Lunn closely connected to Anton T .
3. Lunn to be the beneficiary of the Company secretary estate comprising c. 62 M shares .
4. Lies and deceit from the Company CEO T Evans .
5. D Lenigas working in concert with T Evans to diminish Company value .
6. No communication with Shareholders or explanation of strategy or progress with outstanding accounts .
7. Lunn self appointed to Chairman never acted in the interests of the Company or Shareholders .
8. R Menzel resigns position in own Company to join PPP as CEO . No Shareholder consultation .
9, Almost ZERO contribution or communication from Menzel as CEO .
10. AGM dissolved by Lunn .
11. No accounts forthcoming , no progress , no valued communication with Shareholders .
12. Apparent priority to settle a Petroquest loan .
13. Lunn to be the beneficiary .
14. Prevarication and obfuscation regarding the ongoing accounts delay .
15. Resignation (?) of Lunn and installation of `New Team` without any shareholder consultation / approval .
16. Proposed arrangement with RMD to acquire PPP and installation of `New Management` and proposed activities .
17. Appointment of R Spinks , no consultation with Shareholders .
18. Texas NO value (?). R Menzel retaining interest (?)
19. Petroquest loan to be settled with 50% of Texas asset (?)
20. Assumption that Lunn still operates behind the scenes .
21. RMD to dilute Shareholders , to issue CLN , but very limited information .
22. Operations to be focused in Ukraine on an abandoned well in a war zone with associated dangers .
23. Additional planned focus on Canada and the US , no substantial detail .
24.NO prospectus .
25.NO Accounts .
26.NO return to trading until Shareholders vote YES to Unelected Directors unacceptable strategy approved .
~~~ This whole charade has been , IMO , coordinated and manipulated by a determined campaign of misinformation , threats and abuse by a small number of individuals intent on delivering control to `Directors` who do not represent fairly the interests of ALL Shareholders . Their presence on this LSE BB 24/7, of these individuals repeating incessantly the same mantra and drowning out all reasonable debate or criticism of Company Management is again , IMO , beyond suspicious .
The consequence of this intense support for this secretive and dishonourable management is for me one huge red flag and far from persuading me to vote in favour of their opaque strategy persuaded me to do exactly the opposite .
~~~ The above are some but not exclusively ALL the reasons I have no confidence in this management .
More importantly, in these people , I have NO TRUST .
I voted NO and whatever the out come I believe there IS a better way forward .