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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Pelatro Plc | PTRO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1.02 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.02 | 1.02 |
| Industry Sector |
|---|
| SOFTWARE & COMPUTER SERVICES |
| Top Posts |
|---|
Posted at 27/10/2024 06:43 by timbo003 I have been going through the various documents available and came across this snippet on p271 of the prospectus, it would seem that the German Investor (Sven Klass) who bought 4% of the company just before delisting is not a happy bunny. It is not clear whether Sven was a recipient of any of the sale proceeds from the sale of Pelatro Ltd (UK) on Feb 7th to "the promoters" and is not satisfied with the amount he has received, or whether he received zero (like the rest of us) |
Posted at 25/10/2024 14:27 by wilske I have reviewed most of the documents that are now posted on Pelatro.com related to the IPO of Pelatro Limited (formerly Pelatro Private Solutions Ltd) that is now listed on the NSE in IndiaFrom what I can understand, Pelatro Private Solutions Ltd (the operating company in India) was 99.99% owned by Pelatro PLC (the UK AIM listed holding company) up to September 2023. Sometime between Sept 2023 and June 2024, that changed as the documents in June 2024 show Pelatro Private Solutions to be the holding company with Subash Manon and what I can only guess to be his children as sole shareholders. We know that at the end of 2023 they had new investment just before the announcement to delist but what is missing in the document trail is how Pelatro private Solutions was sold by Pelatro PLC. What I dont get is why the new investors allowed that to happen unless they were compensated in some other way which would be illegal under the 2006 CA. Either way, this looks to be a very suspect and very likely illegal mechanism for Subesh Manon to take the operating company away from the holding company and basically leave the rest of the Pelatro plc shareholders with nothing and subsequently raise more money on the NSE. Does anyone have more information? I have written to the new Pelatro Limited in India but i doubt I will get any response so next step is to complain to CH. They have to somewhere have a paper trail of what has been done. |
Posted at 25/10/2024 12:06 by jimbob17 I would also be happy to write to Companies House. The letter I have received this morning from the company is laughable - six lines saying high loss last year, no investor interested in investing and took necessary steps to avoid bankruptcy.That̵ |
Posted at 07/11/2023 19:31 by kumbuka A way of stuffing investors and you seem to be around a lot of those stupid mudbath. Still RAMPING TERN ? |
Posted at 07/11/2023 18:55 by kumbuka Any investor with money to invest should keep well away if stupid mudbath is RAMPING it. |
Posted at 29/9/2023 16:51 by mudbath Any investor who is following PTRO off the AIM market can take heart from the very professional way that the Company web site has been updated today in order to reflect its revised corporate status. |
Posted at 19/8/2023 17:18 by wilske I would have expected the new investors to have insisted on some management changes. They need a new CFO and a COO as the banana skins of the last 9 months have been entirely self inflicted. I rate Subash (you dont build a 100m business like he did before if you are a numpty) but I suspect he is off doing the sales pitches to new customers and is leaving the operations to the CFO and the COO. Still at least the business has a chance now and Subash himself has been diluted so feels our pain. i will write again toe the Chairman and ask for serious management changes in the light of the serial disasters |
Posted at 19/7/2023 11:46 by theoldcodger @CasholaaI’m not usually slow to pull the trigger if I lose faith in the management like I did here some time ago, but in this case, I thought the business might just have enough going for it to succeed in spite of that weakness – I really should have known better. Now any fundraising will most likely just about wipe out small shareholders, so even if it’s accompanied by a clean sweep of the management (which it really should be) and then followed by a turnaround of the business, private investors are unlikely to reap much/amy of a reward. Regards TOC |
Posted at 02/6/2023 00:42 by cordwainer Not many companies’ finals are met with this silent deadness. Reflects the investor relations scorecard I suppose. |
Posted at 21/5/2023 14:14 by wilske Dear AllI have finally got a response from Harry Berry (non-exec Chairman) and he says results/trading statement will be out in a few weeks and audit is in progress. I told him the total silence since Jan is unacceptable from investor relations perspective and that it destroys management credibility and asked that they at least put out a notice of results asap to provide some degree of reassurance. I believe these results will be pretty awful and they will take the chance to throw everything in these results to clear the decks for a better 2023.They should be keeping a tight grip on costs right now to preserve cash so that they dont need to raise any money. Ive also contacted the CFO and CEO but i dont expect them to answer. Will share any more responses I get. Fundamentally there is nice business here but they need to keep costs down (reduce R&D spend if necessary and that means reducing headcount) chase down trade receivable's and nail on some more contracts to put the business on a a stronger financial foundation. If they can do that they should be able tor trade their way out of this position and get back on track. |
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