Parkmead Share Discussion Threads

[fardels bear] 14/9/2019 20:43

Well that's OK then.

[chutes01] 14/9/2019 17:07

I'm here to make cash, PMG at £44 Mio - Cash plus land/property assets/Producing Gas assets/Oil licences in N Sea
Are you fkg mental - who would short with vast oil reserves next to existing assets assigned a valuation of nil by the market ?
The directors have been caught with their fingers in the till, no doubt about that, and they will suffer, but I don't short any stocks, esp PMG.
Are you going to Midmar for dinner again soon ..

[fardels bear] 14/9/2019 16:52

Nah you ain't. You blow hot and cold entirely depending on your own position..

[cyan] 14/9/2019 16:46

Anyone want to buy a ticket?

"Outer Moray Firth Special Interest Group – Collaborating at Scale – Maurice Bamford, 1st Subsurface and Dr Colin Percival, Park Mead Group "

Wednesday September 25, 2019 6:00 pm - 8:30 pm

[chutes01] 14/9/2019 15:08

i dont do short mate, telling you how it is

[fardels bear] 14/9/2019 14:13

Short again, chutes?

[11_percent] 14/9/2019 10:46

Was having a pint in No10, last night at 6.00 and overheard some of the Parkmead guys saying that Tom is planning to have a load of bouncers at the AGM.......any awkward questions and these trouble makers will get chucked out...….quite right……....bloody rif-raf....

[francoismyname] 13/9/2019 18:46

No buyers today. Only a matter of time before this collapses !!!

[typo56] 13/9/2019 17:01

Arden are facing challenging conditions. Their strategy is to grow their corporate client base...and not upset the clients.

[anley] 13/9/2019 16:41

Why arn't ARDEN and the BOARD explaining the circumstances behind this land deal?

YET again Arden have shown how incompetent they are and they are not the only one's on the AIM circut.

[cyan] 13/9/2019 14:00

Yes; more shares this roundabout way and other shareholders are diluted.

Ummm.

Anyhow; just for clarification; as I did not make this absolutely clear;

The £2.9m credit facilty was "fully drawn" down by, at the latest; 22nd march 2018;

RNS dated 22nd march 2018

Extract;

"As at 31 December 2017, GBP1,700,000 in aggregate had been lent to Energy Management Associates Limited by The Parkmead Group plc and is currently fully drawn."

TIPPERTY Farm was bought on 9th March 2018

[11_percent] 13/9/2019 13:54

look.....Tom was done over at Dana when it was taken over......he learned the lesson and there is no way anyone is going to takeover HIS company again.

[typo56] 13/9/2019 13:00

Here's a difference between Parkmead lending to Pitreadie Farm Ltd directly or to EMAL.

If they'd lent £2.9m to Pitreadie Farm Ltd directly it would have formed part of the purchase consideration.

Lending via EMAL and then Linda lending £2.6m to Pitreadie Farm Ltd means she's receiving 5.15m shares in consideration. That pushes the concert party over the 25% holding?

[11_percent] 13/9/2019 12:48

....SCAM....

[cyan] 13/9/2019 12:28

I suppose a few direct questions at the next AGM.

I suppose an enquiry could be made with the previous nomad. Why was there a change?

There must have been a legal agreement drawn up. There must be minutes of meetings; e-mails and so on.

Doubt you will ever see any of those.

[typo56] 13/9/2019 12:21

How do you suppose you can find answers?

"Everything out in the public domain is sufficient", was Arden's response.

Arden replaced Panmure as NOMAD on 1 Feb 2019.

[cyan] 13/9/2019 12:15

Someone from EMAL (only two directors T & L CROSS) must have approached PMG with a proposal.

Someone in PMG must have examined the proposal; must have asked relevant questions like; "what do you need the cash for?"

What was the reply.?

Was any intent revealed by EMAL that the directors loans were to be repaid.

Were undertakings given as to what the money would be used for?

Why did anyone at PMG think this tie up with EMAL was appropriate?

It is messy .

If the money remained in EMAL and EMAL invested in Pitreadie Farm with some renewable plan it would not look so bad.

But, EMAL REPAID directors (0% interest) loans . The money LEFT EMAL.

The loan to EMAL was supposidly for the benefit of PMG shareholders;

“By providing this facility, Parkmead benefits from an exclusive arrangement to join EMAL in new ventures being evaluated by the Company, including inter alia potential opportunities relating to renewable energies.”

Where is the evidence of any joint ventures with EMAL in the last 2 years .

What is the justification in extending that loan another two years?

I can not see any benefit (aside from 2.5% interest)in the arrangement.

[typo56] 13/9/2019 11:49

cyan, I was trying to dispel wild conspiracy theories and attempt to see how this works for Parkmead shareholders.

Remember, it's not Tom Cross who authorised the related party transactions, it's the whole board and the NOMAD. They must be privy to more information than we are. Arden Partners say that they consider the RNS sufficient for the related party dealings. I can't see how they can think that, unless they have more information than PIs.

More may be revealed in due course with the completion announcement. Hopefully it will then make more sense.

Still looks pretty messy though.

[cyan] 13/9/2019 11:25

I had to smile at your line earlier Typo;

"I don't know how to justify the builing of the substantial and possibly unfinished dwellinghouse, which may be being built by Linda's company (can anyone confirm this for sure?). Perhaps it's a "come's with the job" residence for the site manager."

Ummmm, a Triple garaged mansion with swimming pool; I somehow doubt its to house a solar panel maintenance man; the guy who would sweep the snow off the solar panels in the winter.lol

[cyan] 13/9/2019 10:58

This is , in my opinion, VERY serious stuff. I am not sure everyone appreciates the implications.

Shareholders were given an apparent credible sounding reason for loaning (as it now is) £2.9 million to EMAL.

The money trail raises serious questions. I was always told "follow the money"

The gas assets are clearly the best part of the business; IF ONLY TC would concentrate his time and the company's capital on THEM.

By buying PITREADIE Farm Ltd PMG is now encumbered with £3.6 million in debt that matures in just FOUR years; capital that would likely be needed by PMG to develop Platypus about that time. (Just ,what IS the interest rate on that £3.6million?)


Not only that; The £2.9 million LOAN to EMAL has further reduced capital resources. Two years to run on that loan now. Will it be called in?

The Cherry on the top of the cake is the dilution shareholders have suffered to acquire that farming enterprise

Its a tangled web which ultimately all links to PITREADIE Farm Ltd.

I wonder how the HUGE house is progressing.?