Yes i think the monies are on their way to Lagos |
anyone heard anything new on the monies.........? |
From docs 16 July, of the £1.37m left, directors may walk off with £400k, and liquidator £200k, leaving only about £700k for shareholders. |
I emailed the liquidator and was told not to expect any payment this year, delays due to the PPF looking into the pension fund! |
Has anybody managed to get any money from the first interim distribution that was due in September? |
just allowing for costs...... |
Last accounts released, maybe approx. £1.4m to be returned to shareholders. 103 million shares in issues, I make that ~1.35p against 0.825p |
1.2p per share.........? |
When it changed the name that was the give away...Part-way... |
So, it is good bye to an old acquaintance. |
Clock ticking..........
6 months from 08/12/2023 which was the date of completion of disposal. |
Clock ticking.......... |
All about the deal.............. |
See post 7067 Disposal costs and pension contribution eat into the £2m. "£2m - £639k - £240k = £1.121m cash." £1.121, plus final £367,000 = £1.488m cash - no doubt some other Board costs probably gives about £1.4m by now. |
Weatherman, is it £2,367,000 given below?
21st Nov
- cash consideration of £2 million will be payable immediately; and
- a further £1 million will be retained by the Purchaser for adjustments based primarily on the working capital position of PPL at completion.
13th March
the Company has received £367,000, being the difference between the negative working capital position at Completion and the £1 million retained by the Purchaser, in accordance with the terms of the SPA. |
I didn't think they would get the full £2m - even £1.5m would a lot higher than current mkt cap. |
Price decline makes me think that the £2 million may be in jeopardy. Provision to get some or all depending on completion accounts.As detailed in the announcement dated 21 November 2023, GBP1 million has been retained by the Purchaser to set off against the expected negative working capital position of PPL as at Completion and other minor adjustments. That working capital position will be determined from a set of completion accounts that will be agreed following Completion. To the extent that PPL's negative working capital position at Completion is less than GBP1 million, the difference will be paid by the Purchaser to PHL and to the extent that PPL's negative working capital position at Completion is greater than GBP1 million, the difference will be paid by PHL to the Purchaser. |
Thoughts on how this plays out...........?? |
Don't know but still intrigued by some of the shareholders that are appearing here....... |
William Roderick Peter Eyre has bought 5%, and price is down? Who is he? |
Could be a fascinating year for this one........ |
The way I read it, if the max pay out is £3m, and £1m costs, then they would have min £1m and max of £2m cash once costs finalised. Those pushing this change to a shell probably have a target in mind. |
buys on AQSE - |