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PLMO Polemos

0.70
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Polemos LSE:PLMO London Ordinary Share GB00BZ1MJW42 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.70 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.70 GBX

Polemos (PLMO) Latest News

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Polemos (PLMO) Discussions and Chat

Polemos Forums and Chat

Date Time Title Posts
28/2/201906:40PLMO new dawn1,043
30/4/201819:47Polemos -SecuLinx7
27/7/201711:33Polemos Plc - A New Beginning3,613
01/1/201513:47Tip TV Interview with David Lenigas, in which he discusses Polemos (PLMO)1
26/6/201416:34POLEMOS PLMO7

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Polemos (PLMO) Most Recent Trades

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Polemos (PLMO) Top Chat Posts

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Posted at 13/2/2019 13:40 by nextlink
So you think it will open at or below 14 pence.
Shareholders - Digitalbox 28 Polemos 93
Add in one or two institutional investors.
So less than 130 shareholders
Market Cap £12.4 million at 14 pence per share.
No one knows what general market sentiment will be on 28th February,
we can say everyone involved with it's listing will be keen for a
good start.
Just over two weeks to go and we will find out.
I believe Nigel Burton was buying at around twice the price at suspension.
Posted at 13/2/2019 13:05 by bazzerhino
RNS

Market capitalisation on Admission: £12.4 million (at the Placing Price)
Posted at 25/1/2019 16:39 by piefacefrank
Is this getting consolidated upon lifted suspension, and what will the share price/market cap be?
Posted at 01/9/2018 08:21 by nextlink
ICAC - I doubt any poster here knows what will happen to Polemos
Even by the low standards of Aim this is an extremely risky
share.
Negatives - Lengthy history of poor performance.
Loan notes to Oyster Oil and Gas, probably worthless
As an Aim listed shell, only has until 8th September to RTO
or be suspended.
Positives - Has a listing, until 8th September and can come
back from suspension within the following 6 months.
Has around £350,000 in cash.
Nigel Burton has very recently taken over.
He has a history of success and if anyone can reverse this into
a successful private company, he can
If he does pull this off before 8th or bring it back from suspension
in the following 6 months the share price may be significantly higher.
Posted at 02/6/2018 08:12 by pwhite73
You can't put a value on this stock from its cash balance. These types of the shares are at the mercy of behind the scenes market activities. Last week the stock was selling for 1.9p on a supposed short squeeze a week later it has halved. It is likely the new placing shares gave the shorts the opportunity to close.

Unless the company is forward selling new placing shares this appears to be it as far as dilution is concerned. That the warrants have been cancelled also puts a lid on shares being drip fed into the market to weigh down the share price.

PLMO has until the 09/09/2018 to either complete an RTO, raise £6m in cash or face suspension. Good news can send the share price soaring. No news will lead to a daily drip drip effect as investors become concerned about the suspension and their money being tied up for another six months.
Posted at 15/3/2018 17:59 by hedgehog 100
PWhite73 15 Mar '18 - 08:55 - 701 of 701
" ... There is obviously a reason why Novum and Turner Pope are taking on the risk."


Yes, the fact that they got a discount of over 50% to the share price at the time, with the new share price being covered (for the moment) by assets, plus one for one warrants at the same price.

If a new RTO is arranged, the shares are likely to be suspended again when it is announced.

But in any case, why buy in the market at over 0.01p (or 1p after consolidation), if you can buy new shares at that price, without dealing costs, and perhaps with warrants attached?

The warrants give exposure to potential upside within a year, but without the downside (including potential delisting).
And if the company needed to raise funds at below the nominal value in the future, it could change it fairly easily, as has been done in many other cases.
Posted at 08/3/2018 16:46 by hedgehog 100
08/03/2018 16:29 UKREG Polemos PLC Trading restored, Reverse terminated, Placings

Termination of Reverse, Placing, Conditional Placing, Proposed Share Consolidation, General Meeting, Restoration of trading and Appointment of Joint Broker

Termination of proposed reverse and restoration of trading

The Company announces that it has terminated by mutual consent the binding term sheet agreement previously announced on 8 September 2017 and will not, therefore, be proceeding with the reverse acquisition of SecurLinx Corporation.

It is expected that the suspension from trading on AIM will be lifted with effect from 7.30 a.m. tomorrow, 9 March 2018.

The Company is with effect from today classified under the AIM Rules as an AIM Rule 15 cash shell and as such will be required to make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 (including seeking re-admission as an investing company (as defined under the AIM Rules)) on or before the date falling six months from today or be re-admitted to trading on AIM as an investing company under AIM Rule 8 (which requires the raising of at least GBP6 million in cash via an equity fundraising on, or immediately before, re-admission) failing which, the Company's Ordinary Shares would then be suspended from trading on AIM pursuant to AIM Rule 40. Admission to trading on AIM would be cancelled six months from the date of suspension should the reason for the suspension not have been rectified pursuant to AIM Rule 41.

Placing, Conditional Placing and appointment of Joint Broker

Placing

The Company also announces a placing (the "Placing") of 2,700,000,000 new Ordinary Shares of 0.01 pence each (the "Placing Shares") at a price of 0.01 pence per Placing Share (Placing Price") to raise in aggregate gross proceeds of GBP270,000.

The Placing has been undertaken with Novum Securities Limited and Turner Pope Investments (TPI) Limited ("Turner Pope") on behalf of certain private investors and is conditional, inter alia, on admission of the Placing Shares to trading on AIM. Application will be made for the 2,700,000,000 Placing Shares, which when issued will rank pari passu with the existing Ordinary Shares in issue, to be admitted to trading on AIM and dealings in such shares are expected to commence on or around 14 March 2018. For the avoidance of doubt, the Placing is being done on a pre-Consolidation basis (as described further below) and within the Company's existing authorities to issue shares but is subject to Admission to trading on AIM for such shares.

Novum Securities Limited has been appointed as Joint Broker to the Company with immediate effect.

Conditional Placing

In addition, the Company announces a conditional placing (the "Conditional Placing") of a further 1,400,000,000 new Ordinary Shares of 0.01 pence each (the "Conditional Placing Shares") at a price of 0.01 pence per Placing Share to raise in aggregate gross proceeds of GBP140,000, with Turner Pope and certain private investors including Hamish Harris, a Director of the Company (who has subscribed GBP25,000 for 250,000,000 of the Conditional Placing Shares representing approximately 4.8% of the Company's existing issued share capital). The Conditional Placing is conditional, inter alia, on both the passing of the Resolutions to be proposed at the General Meeting ("Meeting") (as referred to below) and admission of the Conditional Placing Shares to trading on AIM. Application will be made for the Conditional Placing Shares, which when issued will rank pari passu with the existing Ordinary Shares in issue, to be admitted to trading on AIM and dealings in such shares are expected to commence on a date to be announced following the Meeting expected to be on or around 26 March 2018. For the avoidance of doubt, the Conditional Placing is being done on a pre-Consolidation basis (as described further below) but the shares will be issued in the new form following the proposed Consolidation.

Subject to the passing of the Resolutions at the Meeting, the new Ordinary Shares subject to the Placing and the Conditional Placing will come with an attaching 1:1 warrant with a 12 month expiry date exercisable at 0.01p per share (to be adjusted following the proposed Consolidation) ("Placing Warrants").

The proceeds of the Placing and the Conditional Placing will be used for general working capital purposes and to assist in seeking a new opportunity for a reverse transaction.

The Board carefully considered the merits of an open offer to Shareholders, but given the urgency to return to trading following the termination of the proposed reverse, and the need to raise additional working capital, the Board determined that it was not practical to do so and that it was in the best interests of shareholders and the Company as whole to proceed with the Placing and the Conditional Placing at this time. Following the receipt of additional authorities to issue shares and the completion of the proposed consolidation of the Company's share capital as described below, the Board intends at that time to make a share offering via PrimaryBid in order to allow retail shareholders to participate at the Placing Price (subject to the adjustment in respect of the proposed consolidation), details of which will be announced in due course.

General Meeting and proposed Consolidation

To facilitate the Conditional Placing, and the issue of the Placing Warrants and to fund further professional fees and provide additional working capital to fund additional costs that may be incurred in progressing any reverse transaction, the Board wishes to have shareholder authorities to issue further new ordinary shares and accordingly, will be seeking the requisite authorities to issue and disapply pre-emption rights in relation to such shares at the General Meeting. The ongoing authorised and unissued share capital will represent 25% of the enlarged issued share capital following the Placing and the Conditional Placing.

In order to bring the Company's share capital into line with the size of the Company, the Company will also be proposing the consolidation of the Company's issued and outstanding Ordinary Shares, including the Placing Shares and Conditional Shares when issued (together the "Existing Ordinary Shares") on the basis of one (1) post-consolidation New Ordinary Share ("New Ordinary Shares") for every one-hundred (100) pre-consolidation existing Ordinary Shares (the "Consolidation"). The Consolidation will be conditional on shareholder approval and a circular to shareholders setting out the background the proposed Consolidation, including Notice of the GMeeting, is expected to be published shortly to convene a meeting of shareholders. The timetable for the Consolidation will be separately announced on posting of the Circular.

Total Voting Rights

Following the Placing, the Company will have 7,860,915,400 Ordinary Shares in issue with voting rights. The Company does not hold any Ordinary Shares in treasury and accordingly there are no voting rights in respect of any treasury shares. The aforementioned figure of 7,860,915,400 Ordinary Shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the disclosure requirements applicable to the Company. A further confirmation of total voting rights will be made following completion of the proposed Consolidation and the Conditional Placing.

Update on investments and other matters

As previously reported, the Company is the registered holder of US$464,000 of 2% convertible loan notes issued by SecurLinx, convertible at the IPO price for that company and otherwise repayable on 31 December 2018.

In addition, the Company made a loan to TSXV listed Oyster Oil and Gas Ltd ("Oyster"), an African focused frontier oil and gas exploration company by way of a 10% convertible loan debenture for a principal amount of CAD867,500 (being GBP500,000 at the date of transfer) ("Loan"). The Loan is expressed to be convertible at the lesser of CAD0.30 per Oyster common share (an "Oyster Share") or a 20% discount to the first offering price of Oyster's Shares on AIM, subject to compliance with the rules of the TSX-V. The Loan is repayable either one year from issue or five days following the admission of Oyster's Shares to AIM. Polemos also holds 433,750 warrants, whereby each warrant entitles Polemos to subscribe for a new common share for a period of one year from issue at a price of CAD0.55 per Oyster Share. Further information on Oyster can be found at www.oysteroil.com.

Polemos understands that both Securlinx and Oyster continue to look at London Listing options.

On 31 January 2018, Polemos issued convertible loan debentures for a principal amount of GBP80,000 (of which GBP30,000 remains owing to the Company), which accrue interest at 5% per annum and are convertible into Polemos Ordinary Shares at a price of 0.01p per Ordinary Share (pre-Consolidation) or are repayable in 6 months and include a 1:1 warrant exercisable at the same price for a period of 12 months post issue.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged for the release of this announcement on behalf of the Company was Hamish Harris, Director

For further information, please contact:

Polemos PLC
Hamish Harris, Executive Chairman

Beaumont Cornish Limited (Nomad)
Roland Cornish/ James Biddle
Tel: +44 (0) 20 7628 3396
www.beaumontcornish.com

Peterhouse Corporate Finance Limited (Broker)
Lucy Williams
Tel: +44 (0) 20 7469 0930

Novum Securities Limited (Joint Broker)
Colin Crowbury
Tel: +44 (0) 2073999400

This information is provided by RNS
Posted at 30/9/2017 05:58 by easylikeasonntagmorgen
Barney, read the RNS. The value of Oyster will reflect PLMO share price. PLMO are still invested in Oyster.
Posted at 08/9/2017 12:47 by gheebee
I'm clearly reading the thoughts of a master. Fortunately more erudite masters are available. One such is Shylock on LSE and here is his masterpiece:

"0.035p isn't the price after consolidation - it's the price at which the deal with SecurLinx has been calculated, representing a premium to the current SP…but a sizeable discount to the share price earlier this year.

After the proposed consolidation, the share price will be 1000 times higher than the pre-consolidation price. So, if the pre-consolidation price were 0.02p then the post-consolidation price would be 20p, ie one new share would be worth the same as 1000 old ones. The actual pre-consolidation share price won't be known until the shares resume trading on the publication of the admission document, whenever that may be. Presumably it won't be published until/unless all due diligence has completed and the RTO is binding.

In the absence of any justification in today's announcement for the £17.8m valuation of SecurLinx, the admission document will have to throw some light on it. AFAICT, SecurLinx has never made a profit in 14 years, employs only a handful of people and has estimated revenues of $1-2m. It does own some IP, the value of which is unknown.

However, when SecurLinx floated on the Frankfurt Stock Exchange in November 2011, it had 5m shares and was valued at 3.25m Euros (approx £3m at today's rates). They were forced to delist a year later since they didn't meet new minimum regulatory guidelines introduced by the exchange. They have presumably issued a lot of shares since then to raise cash since today's RNS suggests that they now have over 40m shares.

I'm assuming that the owners of SecurLinx wouldn't be selling if they were about to become profitable so the new owners may need to raise more funds on AIM to keep the lights on. And why SecurLinx would be selling to an obscure little AIM company with a MC of £1m is a mystery. If their IP is valuable, why have they not been sold to a credible company with experience in their sector?

All may become clear in time…or the deal may never go through. If it does go through, it would have to rank as one of the most dilutive deals in history with the share capital of PLMO set to increase from approx 5bn to 56bn in pre-consolidation numbers. If PIs notionally own 50% of PLMO today, they would own less than 5% after this RTO - with presumably the current owners of SecurLinx looking to dump 50bn+ shares on the market at the earliest opportunity."

Well said that man! All I would add is that the controlling party of Polemos will be making sure that they aren't out of pocket. They will do this in the ways often seen with RTOs.
.
Posted at 26/8/2017 18:52 by easylikeasonntagmorgen
What will happen to Plmo share price when Oyster list on aim?
Polemos share price data is direct from the London Stock Exchange

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