Parkmead Share Discussion Threads

[mallorca 9] 18/9/2019 10:40

Would have to sell down gradually as I hold too many of these.

[mallorca 9] 18/9/2019 10:38

monte - quite ! …. Pitreadie Farm

[mallorca 9] 18/9/2019 10:37

If Polar Capital are going to continue to sell down (and they don't have to disclose this now ) then this share price may be at 20p in no time.
Tom can then increase his stake to hit the takeover threshold.

Fardels ….. I'm giving a lot of thought to switching to ENQ where currently I can double my shareholding (no of shares) in a Co with more credibility.

Have not finally decided yet but will let you know.

[mallorca 9] 18/9/2019 10:33

He could have bought the HQ office under the PMG Ltd Co (after all it is it's HQ).
Rather, he has put it under a separate Co (owned by him and Ltd) with PMG paying rent to that separate Co - thus PMG paying off the debt on his building.

He's a crook.

[monte1] 18/9/2019 10:13

Similarly the lease arrangements on the office. It may have been the going rate at the time, and the company may now be locked into a long lease at above current values. If market rental values have since reduced it now presents as a non-alignment of interests between the Cross’s and other shareholders.
Related party transactions should always be viewed with a massive dose of scepticism.

[mallorca 9] 18/9/2019 10:02

I am wondering whether Enquest is a better bet !
At least there they have a drill programme and the CEO is buying more shares.

It's a big worry here if we have a self serving crook in charge.

[mallorca 9] 18/9/2019 09:58

Fardel's … no but I am extremely worried … I'm sure that you are too.

Now Polar Capital has reduced it's holding to under 3% they can now sell off their remaining stake without declaring it.

I do think that Tom is a crook.
We all know why he bought Pitreadie Farm and he did it by diluting PMG shareholders.
It wouldn't be so bad if it had operating windmills or if they had submitted a planning application , or if he stated that they would be submitting a planning application - but none of that is the case.

He's building a house on the land.
Everything above points to him taking PMG private and then selling off the O&G assets.

Sorry Fardels , but think carefully.

[fardels bear] 18/9/2019 09:51

You closed your position eh mally?

[mallorca 9] 18/9/2019 09:40

From the recent RNS ….. tucked away near the bottom


'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'.

Also … why aren't the non executive directors or the financial director buying any shares ?

I fear for my investment here as I don't think that TC gives two hoots about us - he didn't reply to my e mail.

If the share price drop's below 40p then this could absolutely tank.

Sorry to upset other holders but this all stinks.

[mallorca 9] 18/9/2019 09:33

We were cleverly advised that they had formed a 'Concert Party' right at the bottom of the Pitreadie Farm acquisition RNS.

[mallorca 9] 18/9/2019 09:31

The reason that I say that is that there have been some excellent posts on here of late …. particularly one regarding the PMG's HQ building in Aberdeen.

If I remember correctly someone posted that the building was owned by another Ltd Co (Directors Tom & Linda) and that PMG shareholders pay rent for the use of this building at quite an extortionate rate. Therefore , PMG shareholders are also paying off the mortgage of this building which is owned by Tom & Linda under another of their Ltd Co's.

Are Tom and Linda actually now in the land and property market.
Is PMG just a front for them to raise funds.

Add to that , that they have recently formed a 'Concert Party' with builder Kevan Smith and the plot thickens.

See below definition of 'Concert Party'.
Do I think that Tom Cross is a crook - yes.

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.

The total shareholding of this 'Concert Party' is now over 26%.
Are they driving the share price down before taking it Private with a minimum offer to shareholders ?

[fhmktg] 18/9/2019 09:28

Careful, that's Slanderous!

[mallorca 9] 18/9/2019 09:16

Anyone else agree that Tom Cross is a crook ?

[stocktrend1] 18/9/2019 09:00

8p Broker target for Mpm a few months ago (sp under 1p)
Commercial agreement
Directors daughter bought £20,000
Asian institution bought £500,000
Tax rebate due
More news coming

[11_percent] 18/9/2019 08:46

mallorca 9
17 Sep '19 - 17:45 - 9537 of 9545
0 0 0
I would hope that the forthcoming Full Year Results elaborate on this and also update on Netherlands exploration and Platypus.

If so , share price will double from it's current level.

=================================

Mallorca,

Forget about what PMG/annual reports say. The areas where there is going to be any movement are in the hands of other operator......in fields where we are the junior partner.

The news will come from the operators of these fields.

The only development we have to move on is GPA......and that is not happening...….similar to XEL and the Bently field.

[11_percent] 18/9/2019 08:40

I love this BBB....so much going on.

Anyway.....what scam is Tom going to pull today......

[barnes4] 18/9/2019 07:29

Watch and learn percent while I watch here rofl

Why not enjoy 18% rather than only 11?

[mallorca 9] 18/9/2019 07:29

Typo / Cyan

good morning.

Just to clarify ….. I was not referring to Pitreadie Farm and renewables.
I was referring to the GPA and the Scott tie back.

[francoismyname] 18/9/2019 05:55

It’s nice having people on here who can see it for the dreadful investment it has become due to the shocking decisions made by the BOD.

Think today it will swiftly move into the 30’s as the latest large shareholder has gone below 3% and does not now have to give notice of any large share sales.

I will think about a purchase at 31p but will reconsider when it get there shortly.

[11_percent] 17/9/2019 21:59

Must agree.....Cluff is a scammer...always has been...