Parallel Media Share Discussion Threads

[parisv] 08/3/2016 15:49

hxxps://audioboom.com/boos/4274899-429-fox-marble-pi-wheelie-dealer-and-chartist-zak-mir?t=0 getting noticed 33 mins in

[swizz] 08/3/2016 15:28

Courtesy of Jarv55 on LSE and somewhat reassuring....GL S

"Response from PAA nothing to worry about folks just talk talk hackers lol"

"The RNS was issued due to a very small number of investors receiving unsolicited emails from a suspicious firm based in New York requesting confidential information on their shareholdings."

"Such attempted share scams are not uncommon and there is nothing to be concerned about. If you should ever receive unsolicited correspondence requesting confidential information on your shareholding, then please contact Parallel Media Group and the company can clarify the veracity of the correspondence (or not)."

"Should you have any further questions, please do not hesitate to email: [e-mail]."

[eezymunny] 08/3/2016 14:57

Really DD. You amuse me endlessly....the company is not asking shareholders to report bona fide off market transactions, which would have to be recorded on the share register. It is asking shareholders to report suspicious approaches from boiler room scammers.

The only significant transaction recently was on-market. And then lots of little penny share idiots trading.

[dusseldorf] 08/3/2016 14:46

Eezy - the company have asked shareholders en-mass via RNS to inform them, via email, of any approach for purchase of their shares. If someone came to me directly - this is a public BB, and said "can I buy your shares?" (via PM) - the company could expect me to inform them, and thus perhaps reveal a buyer - if there is one.

[eezymunny] 08/3/2016 14:42

How on earth will releasing an RNS about a possible share scam (which you say is nothing of the sort) help PAA to determine who the owners of shares in nominee accounts are? I mean, really, are you just making this up as you go along?

[swizz] 08/3/2016 14:30

Dd, thanks for the offer, but not quite at the stage of a TR1, but I will bear it in mind....GL S

[dusseldorf] 08/3/2016 14:27

EezyMunny - 32% equity (outside of MM's) is held majority in nominees, it's neigh on impossible to work out who owns it even with shareholder register

[dusseldorf] 08/3/2016 14:26

swizz - dependent on what you now own, you'll probably be the 5th largest shareholder of PAA, me being the 4th - perhaps between us we can propose a new director to the board ;)

[eezymunny] 08/3/2016 14:24

These scams go on all the time and some are reported:

www.investegate.co.uk/Index.aspx?searchtype=1&words=scam

But you don't think there's any such thing going here. You think the company has released this RNS for the specific purpose of finding out who owns its shares, right? How about they just look at the shareholder register (or ask the company registrar)?

You're in dreamland IMO and have been for years!

[dusseldorf] 08/3/2016 14:12

Eezy - The latter. It's overkill to issue an RNS and the timing so close to 6% being dropped... perhaps you missed the bit about previous scam notification simply being placed on the website as an acceptable alternative. I don't see any other AIM company issuing notifications via RNS re: scams and every AIM company has significantly more shareholders than PAA and I'm sure they are equally targeted.

Is there really a boiler room thinking: "ok lads we've got 300 companies, let's focus on the one where there are almost no shareholders, their shareholdings on the whole are near worthless and we can't see who's holding as most are in nominees - actually lads half of them think they still own orchard furniture - this is gold dust!"....

[swizz] 08/3/2016 13:57

Well fwiw, I have bought a few of them, albeit not all 189,880 ;-)

I may also buy a few more, but I fully accept the health/wealth warning that goes with it,....GL S

[eezymunny] 08/3/2016 13:54

So the company says "Notification of Possible Share Scam. The Directors of PMG have recently been made aware that shareholders in the Group have received unsolicited approaches from persons attempting to persuade them to enter into transactions regarding their PMG shares".

And you, DD, say "The RNS in my view is unnecessary, unless as a company you wanted to get a view on where the stock is going. I don't believe there is an ongoing scam."

Right, I think I've got it. You either think it's unnecessary for a company to notify its shareholders of possible scams wrt the company's shares, or you think this is a smokescreen by the company to find out "where the stock is going". Am I getting closer?

[mister md] 08/3/2016 13:14

well those 189,880 shares must have gone somewhere

else we would have dropped from 8p to 4p and not risen to 12p +

It was 6% of the total marketcap if my calculations are correct

[knigel] 08/3/2016 13:13

Who needs to report their 3% plus holding to the company asap (its likely considering the volume unless a market maker is picking up the shares)

[dusseldorf] 08/3/2016 13:01

Eezy - Not quite. the company hasn't stated something illegal is going. Just that it might possibly be - they have to say that else there would be absolutely no reason to issue an RNS.

For the company, who I believe need a corporate transaction to move forward will need a vote and per-requisite acceptance rate:
- Herald loss (Largest independent shareholder) = uncertainty
- Increased share volume for unknown reason =uncertainty
- Company has had resolutions blocked before at AGM=uncertainty
- Who is buying? we don't know = uncertainty

Action required by company: Issue RNS so perhaps we get visibility of where stock is going = certainty

The RNS in my view is unnecessary, unless as a company you wanted to get a view on where the stock is going. I don't believe there is an ongoing scam, I could be wrong. The only reason I can think you'd need to know that is when the volume becomes large enough to potentially be a new significant holder with significant voting power to warrant attention from the company.

[eezymunny] 08/3/2016 12:04

So you think the board is worried that someone is using illegal means to acquire shares, and that that person(s) may be doing so to block corporate actions? Have I got that right?

[dusseldorf] 08/3/2016 12:01

Eezy - perhaps I'm not explaining myself clearly enough. I've not suggested an entity is actually buying up all PAA stock to block a corporate action, but that the board believe this 'could' be the case hence RNS. Volume has clearly been accumulated - perhaps you think day traders are still holding circa 400k extra shares?

Why does this concern the board - well, they've just lost a solid 6.3% that's been held for years and IMO are getting a little twitchy. If they need something to be voted through - let's face it, if the company is to survive any restructuring is likely to require a vote, they do not want any unwanted surprises.

Effectively they've said 'let us know via email if anyone approaches you' - via issuing a 'possible' scam notification. It's not even confirmed scam, but 'possible'.

"The Directors urge shareholders to exercise extreme caution if they receive unsolicited communication regarding their investment in the Group. Shareholders are advised to email [e-mail] with details of any such communications. "

If say you wanted to buy my shares, a legitimate (although as unlikely as dancing on the sun) transaction - why should I inform the company?

[eezymunny] 08/3/2016 11:41

So the company warns you that someone is out there trying to scam the company's shareholders and you say it might be something completely different. Have I got that right, DD?

Do you really think someone would use illegal means to accumulate shares so that they can block a corporate deal? Have I got that one right?

[mister md] 08/3/2016 11:12

I wish we would get "unsolicited approaches" for the company - about time something meaningful happened with this one ...

Longer term investors will know however that 8/10 AIM companies are complete disasters and it isn't really worth identifying the 2/10 that aren't ...

[eezymunny] 08/3/2016 10:36

Suggesting that a share scam is someone trying to accumulate shares to block corporate deals is not "valid speculation". It's ridiculous.

Go on, block me oh grand lord all powerful thread master!!

[eezymunny] 08/3/2016 09:59

Is that from the holier than thou "we won't have any nasty stuff on my precious rampfest PAA board" man?

Kettle, pot!

lol