Parkmead Share Discussion Threads

[mallorca 9] 02/9/2019 11:50

I'm very tempted to up my own holding.
Sentiment is so low and the full year results are no too far away.
Will we look back on this opportunity to buy into a diverse energy business which is currently debt free - don't know !
Platypus development also soon to come over the horizon.
Decisions decisions.
I'm also expecting coverage in I.C.

[mallorca 9] 02/9/2019 11:46

Surely this low Market Cap is going to attract a predator !
Tom and his associates have increase their stake to almost the max allowed.

[mallorca 9] 02/9/2019 11:43

Sentiment has never been lower here !

[mallorca 9] 02/9/2019 11:36

Interesting stuff - it certainly does NOT give Tom and his associated much scope at all to increase their holding.

[mallorca 9] 02/9/2019 11:34

Would Tom and the other Concert party members have enough cash to buy out the remaining 70% of shares ?
How would they then fund development of the assets - one reason that you go public is the ability to raise funds in the market.

How does this fight off a predator - fardels ??

[fardels bear] 02/9/2019 11:32

Well, they won't, will they.

[mallorca 9] 02/9/2019 11:28

So the 'Concert Party' …. Tom, hid wife and Kevan Smith now hold 26.25% of shares.
If this were to reach 30% then they would have to make an offer to shareholders to buy out the remaining share capital.

Thoughts anyone ??

[mallorca 9] 02/9/2019 11:26

From last week's RNS ...

Post Admission, Tom Cross and his affiliates will hold 28,201,172 ordinary shares of 1.5 pence each ("Ordinary Shares") in the Company, which will represent 25.97 per cent. of the enlarged issued share capital. Kevan Smith holds the remaining 25% of Pitreadie and will join the Tom Cross and affiliates concert party by virtue of receiving 295,276 ordinary shares as consideration for his holding in Pitreadie, therefore the concert party will hold 28,496,448 ordinary shares in Parkmead, representing 26.25 per cent. of the Company's issued share capital.

[mallorca 9] 02/9/2019 11:24

Concert party
Business
A 'concert party' is a group of people acting in concert in a takeover bid. In the UK, there are rules for such bids, regulated by regulators such as the Takeover Panel. There is a 30% threshold at which a Mandatory Offer must be made. This is considered to be reached when a concert party jointly hold 30% of the shares in a company, not when one of them does. The same applies to other financial instrument holdings such as derivatives. Some entities are presumed to be acting in concert unless shown otherwise. These include the directors, subsidiaries, associate companies and the parent company of the bidder.

[mallorca 9] 02/9/2019 11:23

I also do wonder whether Tom is going to sell out the oil business.
PMG to become renewables focused.
I think that there is lot of good stuff going on - market cap £48m seems very low.

Anyone have thoughts on the 'Concert Party' aspect ? - see last section of RNS.

[mallorca 9] 02/9/2019 11:20

Looking at Companies House info ….

Linda Cross and Kevin Smith are involved in several Companies in the property development sector. He is a builder by trade.

There is mention of wind turbines in some of the application documentation.

[mallorca 9] 02/9/2019 11:13

The application was approved Dec 2017

[anley] 02/9/2019 11:11

The opinion seems to be that Mr Cross is trying to make his company bid proof but one poster touched on the idea that Rock Rose may have a go...............did it not try a cheeky bid for another company only to withdraw..........and that was perhaps the start of one company over the coming years rationalising the North Sea oil and gas industry.

Everyone has his price and if you look at the chart of PMG it could be between £1 & £2 per share...........after stripping out most of the management - Mr & Mrs Cross buying back the farm and retiring to become farmers and all the other costs of running this small business.

Not 46p as a buyer but 40p perhaps..................I have not made up my mind yet.

[mallorca 9] 02/9/2019 11:04

So I'm seeing an application to demolish farm dwellings and to erect 11 apartments with triple garage with 5 parking spaces.
Are you seeing anything else Tournesol.

What are your thoughts ?

[tournesol] 02/9/2019 10:52

It does appear to be Pitreadie Farm

You can see the entire planning file here:-



The initial application is here:-



and shows Pitreadie Farm as the applicant

HTH

[mallorca 9] 02/9/2019 10:46

Typo

the link takes me to a page saying 'document unavailable to view'.
Are you able to copy and paste it ?

Thanks

[typo56] 02/9/2019 09:16

Is this what shareholders have bought into? A £1m build knowing there was about to be a wind farm and biomass development?

[francoismyname] 01/9/2019 21:44

Like a hot knife through butter tomorrow as 40p tested

[francoismyname] 01/9/2019 13:36

I’d feel terrible now if I topped up in the 60’s

Yes you tubby

[monte1] 01/9/2019 13:13

Thanks Linda.

[francoismyname] 01/9/2019 11:24

Toms having you all over.

31p and I may consider buying.

Expect a large fall tomorrow when the market fully reflects on the nepotism like business taking place with shareholders money. You have to ask would the company have made this purchase if his wife wasn’t in over her head here. Never in a million years. This is just feels like a bail out with your money, wrapped up as half decent deal.

Thing is now you have to fully question Toms judgement now going forward as it sure doesn't feel it’s for shareholders benefit .

[mallorca 9] 01/9/2019 10:48

I could well see a bid from Rockrose or an other .
The current Market Cap seems ridiculously low with £80m asset value including £25m cash and no debt.

Watch this space.