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PMG Parkmead Group (the) Plc

16.50
-0.75 (-4.35%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Parkmead Group (the) Plc LSE:PMG London Ordinary Share GB00BGCYZL73 ORD 1.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.75 -4.35% 16.50 16.00 17.00 17.00 16.50 17.00 400,953 15:43:09
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 14.77M -42.33M -0.3874 -0.43 18.03M
Parkmead Group (the) Plc is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker PMG. The last closing price for Parkmead was 17.25p. Over the last year, Parkmead shares have traded in a share price range of 12.25p to 39.20p.

Parkmead currently has 109,266,931 shares in issue. The market capitalisation of Parkmead is £18.03 million. Parkmead has a price to earnings ratio (PE ratio) of -0.43.

Parkmead Share Discussion Threads

Showing 12001 to 12019 of 14800 messages
Chat Pages: Latest  484  483  482  481  480  479  478  477  476  475  474  473  Older
DateSubjectAuthorDiscuss
25/9/2019
09:17
Well FARDELS...........what's your take on this mess?
anley
25/9/2019
08:23
Never mind 31p target price, I don't think I would want these at any price. Tom cross is a smart guy, and like warren buffett says "you should never trust a smart untrustworthy guy"
tongostl
25/9/2019
07:37
Hope you have your hard hats on
francoismyname
24/9/2019
21:23
typo as to your paragraph here;

""The Parkmead Group plc has been granted an exclusive option to join Energy Management Associates Limited in new ventures being evaluated by the company, including interalia potential opportunities relating to renewable energies." could be interpreted as purchasing the farms IMO. But did they have to do it this way, in such a messy AIM fashion?"

The TIPPERTY Farm acquisition has nothing , directly, to do with EMAL.

PITREADIE Farm Ltd purchased Tipperty Farm.

Remember this; EMAL repaid to EMAL's "directors" £2.856,272; The money LEFT EMAL and was thus freed for any private use Mr & Mrs CROSS decided.

My theory is that some of the "free" cash was used by L CROSS to 'loan' to Pitreadie Farm. She injected £2,585,156 ; then Tipperty Farm was bought.

re-read my post 9739 you will see my theory as to how the movements of cash resulted in £2.6 million extra dilution

having reread post 9739 I have added to line 13 "by PITREADIE Farm Ltd" for clarification and to avoid confusion.

cyan
24/9/2019
21:08
Related party transactions

13. This rule applies to any transaction whatsoever with a related party which exceeds 5% in
any of the class tests.
An AIM company must issue notification without delay as soon as the terms of a
transaction with a related party are agreed disclosing:
— the information specified by Schedule Four;
— the name of the related party concerned and the nature and extent of their interest
in the transaction; and
— a statement that with the exception of any director who is involved in the transaction
as a related party, its directors consider, having consulted with its nominated
adviser, that the terms of the transaction are fair and reasonable insofar as its
shareholders are concerned.

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

Notification meant, as the glossary described;

"notify/notified/notification The delivery of an announcement to a Regulatory
Information Service for distribution to the public".

That's an RNS

cyan
24/9/2019
21:00
They broke AIM rule 13 as conceded in the 22nd March 2018 RNS:

"The Facility was disclosed via the Annual Report and Accounts but was not notified separately pursuant to AIM Rule 13. On any future such transactions to which AIM Rule 13 applies, the Company, having consulted with its Nominated Advisor, will make the required separate AIM Rule 13 notification."

Yes in November 2017 anyone who read to page 70 of the annual report would find a reference. That's too late. It should have been notified by RNS in July

cyan
24/9/2019
20:48
cyan, you'll find that the PMG related party transactions are not normally RNSed but only declared in the Annual Reports. As such the £2.9m loan was mentioned in the 2017 Annual report, released on 24 Nov 2017.

"The Parkmead Group plc has been granted an exclusive option to join Energy Management Associates Limited in new ventures being evaluated by the company, including interalia potential opportunities relating to renewable energies." could be interpreted as purchasing the farms IMO. But did they have to do it this way, in such a messy AIM fashion?

And the need for the large new house still hasn't been explained.

typo56
24/9/2019
20:30
The chuckle brothers are still here, I see.
fardels bear
24/9/2019
19:12
The credit facility was fully drawn and on the 26th July 2019 and PMG announced the extension of the "LOAN" for another 24 months.

"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"

What a L.O.B.

Two years and no sign of any joint ventures.

£2.9 million in, and then a total of £2,865,272 cash out within 10 months of the facility being set up.

And guess who were "repaid" £2,865,272; the directors of EMAL; T & L CROSS; the SOLE directors of EMAL.

Is it any wonder that related party transactions cause concerns.



The fact that the 27th July 2017 "credit facility" was,for months, improperly kept hidden from market scrutinity, leaves a bad taste too.

cyan
24/9/2019
18:52
Normally when a company has a bit of cash to burn it buys back shares, thus concentrating the holdings of the ordinary PIs.

In this case, company cash has been used to dilute the ordinary PIs by using it to fund the placing of new shares with the director's wife. That's effectively what's happened. Hmm!

When does the £2.9m "credit facility" get repaid?

typo56
24/9/2019
15:15
That's my theory 11_percent. The PMG cash went in through EMAL's front door and then went out the backdoor; being repaid to T & L CROSS.

Imo that was wrong. Bet it never left EMAL's current account; was just parcelled out discreetly in a number of repayments until £2,865,272 was 'repaid' by 31st May 2018

I agree its unlikely EMAL has the ready cash to pay the loan back; oh dear; hence the loan extension for another two years; lucky them!

cyan
24/9/2019
13:20
cyan
24 Sep '19 - 12:28 - 9762 of 9766
0 0 0
Yes ; the £2.9 million loan to EMAL is outstanding and EMAL are paying just 2.5% interest.

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

Ok, that's fine, but the cash was given to Petreadie, and my guess is, that, EMAL does not have any cash to repay that loan.

11_percent
24/9/2019
11:39
No
No

Can't be bothered Cyan.

mallorca 9
24/9/2019
11:37
Good afternoon mallorca.

Have you ever recieved any reply to the questions you posed T CROSS?

Can you let us know what sort of questions you asked please?

cyan
24/9/2019
11:31
My paper profit on Inland Homes INL is now higher that the loss I accepted on PMG.

Very pleased.

mallorca 9
24/9/2019
11:28
Yes ; the £2.9 million loan to EMAL is outstanding and EMAL are paying just 2.5% interest.

As I argued earlier; in my opinion this was a disguised directors loan .
It allowed T & L CROSS be 'repaid' £2.865.272 from EMAL's coffers.

Directors loans require shareholders approval .

No "joint ventures" with EMAL have emerged in the two years since the £2.9 m facility ( now LOAN)was provided.

In my opinion there was no reasonable grounds to extend the 'loan' another two years.

That loan should be called in.

For complete clarity ;the loan was extended on 26th July 2019;



extract;

The Parkmead Group plc is pleased to announce the 24-month extension of the interest-bearing loan to Energy Management Associates Limited ("EMAL") of GBP2.9 million (the "Loan"). 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. The Loan will continue to bear a fixed interest rate of 2.5 per cent per annum, payable to Parkmead.

cyan
24/9/2019
11:21
Inland Homes INL on an absolute charge up again today.

Please take a good look.

mallorca 9
24/9/2019
11:14
cyan,

Have read your posts.

Am I right in saying that the £2.9m, that was loaned to EMAL, is outstanding, and still needs to be payed back from EMAL to PMG.

That loan still stands.

11_percent
24/9/2019
10:50
Fardels Bear
23 Sep '19 - 16:24 - 9736 of 9757
0 0 0
Seems like the crew has left the building.

===========

Still here....just wondering if anyone has been arrested yet....

11_percent
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