Partway Share Discussion Threads

[diku] 19/12/2023 22:28

What do you buy for 1 mln?...

[eyrewr] 19/12/2023 18:21

Having done a great deal of homework on this company, I estimate that the net cash position to be circa £1m after allowing for transaction costs and buying out the pension fund. This is still higher than the market cap which is pretty unusual and it will be interesting to see what plans, if any, Ian Smith has for the company. Suffice to say, this is one of the cleanest cash shells that I have witnessed for a very long time. As always,DYOR.

[eyrewr] 19/12/2023 18:03

I have accumulated a substantial stake here (over 3% of the equity) and would agree that this seems to have been somewhat overlooked by the investment community. Time will tell!

[tomboyb] 19/12/2023 15:29

Cash is King and PTY has plenty -

Lets see what can be done with it -

[tomboyb] 19/12/2023 12:17

PTY receives £2million -

Current MARJKET cap is $850k -

Now multi - millionaire takes almost 10% -

Things beginning to hot up a bit -

[tomboyb] 19/12/2023 11:44

Limits are changing all the time -

Seller has to clear out and it could be Parity Purchaser -

[tomboyb] 19/12/2023 11:36

250K Left at 0.90p -

[tomboyb] 19/12/2023 11:32

Very shrewd "company builder" -

Buying well below cash and we can below him at 0.90p -

Could get very interesting indeed - !

[tomboyb] 19/12/2023 11:27

Wowsers -

I remember offshore telecom 0.25p to well over 5p!

[tomboyb] 19/12/2023 11:24

Blimey! -

That is Mr MXC!

[chrisdgb] 19/12/2023 11:23

I think it is the MXC Capital guy.......maybe he has a few ideas..?

[tomboyb] 19/12/2023 11:16

RNS out -

Is that big wig Ian Smith??

[tomboyb] 19/12/2023 09:43

Cash on PTY is significantly higher than 0.85p -

[tomboyb] 18/12/2023 08:24

Large trades on Friday -

should see an RNS -

[diku] 16/12/2023 21:11

Shareholder value???...



Mark has a strong track record of leading teams through profitable change and materially improving shareholder value. Mark has significant experience across a number of business sectors, both in the UK and overseas including recruitment & HR services, outsourcing, managed services & digital software & technology.

[tomboyb] 15/12/2023 16:26

Looks like a major acquisition of stock as well -

[tomboyb] 15/12/2023 16:23

Looks like major shareholder exiting -

Hopefully someone has taken the stock -

[tomboyb] 15/12/2023 16:19

Another 10 million at 1p!

[dusseldorf] 15/12/2023 16:15

Spotted this a while back - a shame, but greed of parties involved means they wipe debt etc.. remove £250k account and listing costs and bang a profitable business making £500-£750k a year for £2m

Dusseldorf - 27 Jul 2023 - 10:06:16 - 7016 of 7069 Parity - A New Beginning - PTY
I'd be careful hedgehog - everything about the price movement to me suggests either a massive dilution incoming or it's being taken off market

Dusseldorf - 29 Mar 2023 - 12:17:58 - 6992 of 7069 Parity - A New Beginning - PTY
With a 90% confidence level I'd suggest these guys will eventually pull their AIM listing and go private hence drop.

[tomboyb] 15/12/2023 16:12

11% of the company at 0.90p - !

[dangersimpson2] 14/12/2023 10:23

Sadly not. If you read the whole announcement, then they say:

The Board has now reached an agreement with the Pension Scheme trustees to settle the Group's obligation to make future contributions to the Pension Scheme for a fee of £589k.

Part of the cash consideration from the Disposal will be used to pay the settlement fee and therefore settlement of the Pension Scheme is conditional upon the Disposal being approved by shareholders at the general meeting, failing which settlement of the Pension Scheme will not occur. The Company has also agreed with the trustees to pay £50k towards the costs of the trustee's advisors associated with the transaction.

And then there are costs, giving:

The Initial Consideration will be used to pay the settlement fee and agreed costs to the Pension Scheme totalling £639k, cover the costs associated with the Disposal, expected to total approximately £240k, and to provide the Company with working capital whilst it progresses with its strategy.

So £2m payment becomes £2m - £639k - £240k = £1.121m cash. Then there is up to a£1m to come from final working capital adjustments. But if you read the announcement, this could well be a further cash drain:

To the extent that PPL's negative working capital position at Completion is less than £1 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 £1 million, the difference will be paid by PHL to the Purchaser.

At last balance sheet date, NCL exceeded NCA by £558k. So, max cash is likely to be £1.5m. From this, you have ongoing listing costs and director fees. Such cash shells often trade at 50% of net cash or lower to reflect these costs. So not unusual at all for a company with £1.5m cash to trade at £1m market cap or even much lower.

[tomboyb] 14/12/2023 09:50

Morning -

Market cap - £1million

CASH - £2million

[tomboyb] 13/12/2023 13:21

50% discount to cash -

[diku] 12/12/2023 23:00

And somebody need to look after that cash...and get paid...how long will it last...

[tomboyb] 12/12/2023 15:49

Yeah -

I think that is about right -

So they are cashed up -