|All - I would suggest you tread very carefully here. One of the Directors is Peter Greensmith. He has been responsible IMO for the demise of other companies such as LNR (now FBG). Also EVER. Check out EVERGREEN SECURITIES. It changes its name every 5 minutes. V dodgy. IMO you have lost your entire investment here|
|Proposed De-Listing from AIM
Prometheus Energy Co
10 April 2008
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO
THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, THE REPUBLIC OF IRELAND, THE
REPUBLIC OF SOUTH AFRICA OR JAPAN.
Neither this announcement nor any copy of it may be taken, transmitted or
distributed, directly or indirectly, in or into the United States, Canada,
Australia, the Republic of Ireland, the Republic of South Africa or Japan. Any
failure to comply with this restriction may constitute a violation of United
States, Canadian, Australian, Republic of South Africa, Republic of Ireland or
Japanese securities laws.
Prometheus Energy Company
("Prometheus" or "the Company")
Proposed De-Listing from AIM
Notice of Extraordinary General Meeting
London, April 10, 2008 - The Board of Prometheus Energy Company gives notice
that an Extraordinary General Meeting ("EGM") of the Company will be held at
the Company's offices, 9675 SE 36th Street, Mercer Island, Washington 98040 at
10.00 am on Friday, May 2, 2008. The EGM has been convened to approve the
cancellation of the admission of the Company's shares to trading on AIM and
amend the Company's Articles of Incorporation
If shareholders approve the cancellation at the General Meeting the expected
date for the proposed cancellation is 8.00am on 9 May 2008.
Shareholders should note that cancellation is likely to reduce significantly the
liquidity and marketability of the Company's Common Shares. Once cancellation
has taken effect, the Company's Shareholders will no longer be able to effect
transactions in the Company's Common Shares on market at the market price.
Following cancellation, therefore, the Company's Shareholders will have to
effect any further transactions in the Company's Common Shares off market at a
price to be agreed between the relevant parties. Once the transaction is agreed,
the relevant parties should contact the Company's Transfer Agent, Capita
Trustees-Jersey, whose contact details can be found on the Company's website
The Notice of the EGM has been posted to shareholders today, and the letter sent
to shareholders by the Company's Chairman, Stanislas Yassukovich, is copied
|Something must have caused the drop, but I haven't been able to determine what so far.|
|very illiquid stock, down yesterday on little volume, up today on little volume!
I remain fully invested here.|
|Strnage drops 46% on very low vols & no news?|
|haven't found anything too concerning. Happy holding, surprised these haven't attracted more interest considering what they are doing.|
|Good post, I'll have a deeper look into this Company, some of this tiddlers are always high risk and you do get problems with the management, just have a feeling they are doing the right things and hopefully for the shareholders too!|
|Personally I took a look shortly after float and decided bargepoles do not come long enough. Now normally decisions to avoid at 90p would need reconsidering in the context of 16p.
But in this case the main reason for avoidance was the web of interrelated company deals in the listing prospectus which gave me no confidence that IF the commercial logic was sound that benefits would flow to shareholders. This sort of risk does not diminish with the price.
Additionally we've got the 'fundraising' of 28 Aug 07 which amounts to rape, pillage and selling the children into slavery. And being apparently so strapped for cash that a £1500 wages bill on 21 Dec needed paying in shares.
Clearly there may be aspects I've overlooked, I'm hardly going to devote a lot of effort to investigation with my opinion. But if you hold, I salute your indefatigability.|
|You guys maybe a bit slow off the mark on this one.
Thought there were more looking at the green route to profits!|
|Some nibbles going on, hope this is ground zero for entry if so plenty of upside once the penny drops with investors looking to get into the renewable sector.|
|Western governments will increase spending dramatically over the coming year for renewable energy matters so these stocks will benefit, surprised not many others have the vision, looks like a no-brainer going fwd. I've bought into these and others in the sector.|
|Now a 20k buy, whatever next lol, bet it was knowing he's always following me around the threads, I'll have nowhere to hide soon lol! I'm not changing me user name as I'm a validated user! I filter no one either.|
|Yes a 400 shares buy @ 15p! someone can see the potential here lol!|
|Nick> Thanks for posting it , I read the article the old fashioned way over the weekend, enjoying flicking through the pink pages over morning coffee!
Makes you wonder why this very well respected City gent has come on board as non-ex dir of Prometheus? Obviously he knows a lot more than we do here?
Stanislas Yassukovich CBE (Chairman) was appointed to the Board and as Chairman in 1992. Mr Yassukovich is deputy chairman of ABC International Bank PLC, chairman of Manek Investment Management Limited, Park Place Capital Limited, The Euro Spain Fund Limited and Folio Corporate Finance Limited. He is also a director of Atlas Capital Group Limited and Fortis Investment Management. He was formerly the Chairman of the Securities Association and Deputy Chairman of the London Stock Exchange and a former chairman of Merrill Lynch Europe and Middle East, as well as a number of other companies.|
|Having read about considerable value in generating powere from waste and the recent offers for Biffa & now Novera, it seems this one and afew others like Augean, Pennon & Shanks could do very well from here.
Especially this one that's been beaten up quite badly. Article in the FT says PEC & AUG could shoot up in value if investors pile into the sector following recent takeover activity.
Certainly on my watch list!|
|interesting news today|
|Prometheus Energy Co
27 June 2007
Prometheus Energy Company
('Prometheus' or the 'company')
Prometheus signs California projects with planned capacity of 20,000 gallons of
LNG per day
June 27, 2007
Prometheus Energy Company, an alternative and renewable energy company,
announces today that is has signed a contract with a large California-based
natural gas processing company to acquire gas from two locations in California.
The sources include a stranded low-Btu gas well in Merced County as well as a
number of low-Btu gas wells in Madera County, California. The gas contracted
from the two sources will collectively have the potential to produce 20,000
gallons per day ('gpd') of liquefied natural gas ('LNG') for distribution and
sale into the nearby retail markets in San Joaquin and Sacramento Counties.
The stranded well site in Merced County, which is planned for completion in the
first quarter of 2008, will produce up to 10,000 gpd of LNG from low-Btu gas
that is approximately 70% methane. On the site in Madera County, Prometheus'
initial plant will have the capacity to produce 10,000 gpd of LNG from this
low-Btu gas source, which is approximately 80% methane. While these initial
contracts are for 20,000 gpd, the Madera County site also contains enough gas to
provide significant additional capacity in the future as market demands
Kirt Montague, Prometheus CEO commented: 'These are important agreements that
bring additional sources of supply for the production, distribution and sale of
LNG in California. The planned capacity, of a minimum of 20,000 gpd of LNG,
complements our existing landfill gas-to-LNG plant at the Bowerman Landfill and
our planned facility at Kiefer Road. Today's deals may also offer further
additional resources in the future.'
This press release does not constitute an offer for the sale of securities in
the United States. Prometheus' securities are restricted under US securities
laws and may not be offered or sold in the United States absent a registration
statement or a valid exemption from registration.|
|Related article about the sector
Libra Natural Resources Is Building A Portfolio Of Green Fuel Investments
By Rue Swabey
AIM-listed Libra Natural Resources invests in renewable energy assets with the objective of generating sustainable growth and profit in the near term. Libra was founded and floated in 2005. Its current focus is waste-to-energy and it has proactive investments in three sectors: waste coal, waste wood and waste gas. Libra only invests in companies that can generate a return in the short term. Peter Greensmith, Libra's chief executive is succinct when he tells me that Libra doesn't invest in "mañana" projects or gamble with shareholder's money. Other investment criteria that must be met include patented low-risk technology and significant worldwide expansion opportunities. ,, more ...
|Post removed by ADVFN|
|any reason for the sudden rise today?|
|r686... thanks for the info ....
I'm still holding LNR .... hence my interest in PEC.....
Let's see what the future brings .... !|