Pires Investments Share Discussion Threads

[outspan] 23/3/2014 19:17

Yes, swizz, that's what I was referring to. I would just love a gander beforehand.

Edit. Any thoughts on the inference in the cleantechinvestor summary swizz?

[swizz] 23/3/2014 18:24

outspan, just keep an eye on the Rame Plc web site, it should be available for download on the 4th April.....GL S

Link.....

[outspan] 23/3/2014 18:05

Looks like we'll have to wait till after the listing on 4 Apr before we can see the Admission Document:

[outspan] 23/3/2014 17:48

What do we make of this coverage that appears to put a very different slant on the CLN which by my understanding implies that the conversion would take place on Rame's listing?



It's the final bit I refer to "...No interest is payable for the first nine months and then, assuming the flotation has not happened it is payable at an annual rate of 10 per cent, accruing from the date of the initial investment..."

And if it HAS happened? Hadn't we been understanding a 3-year term @ 10% even if floated? So why this clause? Did they speak to someone and gain a different understanding?

"...As long as the valuation of Rame is more than $33.33 million before any new money is raised then the conversion would be equivalent to a discounted valuation of $25 million..."

[moreforus] 22/3/2014 08:13

No holdings RNs last week however looks like the same lot are up to the same thing at another aim shell co...

[moreforus] 22/3/2014 08:11

Divmad - good spot...funding is everything for capital projects... That's more than an incremental improvement IMHO....

[xcap] 22/3/2014 04:28

Thanks for the update divmad
Probably sell equity and keep warrants is my thinking

[divmad] 22/3/2014 01:38

Interesting updated info in this Admission document from Rame.

Whereas in Piri's February rns, the following was stated....

"The first two of its projects totalling 24MW are ready to build. Rame believes the necessary bank and equity funding for the first project will be in place in the near future, and that funding for the second project will be available from the same sources. The next two projects with a capacity of 84MW should be ready to build within a few months. In total, Rame has a project pipeline of over 1GW with 23 separate projects"....

Now, Rame is stating....

"To facilitate this strategy, Rame has entered into binding conditional agreements with Santander Investment Chile Limitada for the co-financing of 15 MW of wind farms across two project sites in Chile. The Group has a further 28 prospective onshore wind energy project sites with a potential installed capacity in aggregate of 1.4 GW"

So, incremental improvements to be noted, one about securing financing now for the first project of 15MW, and two, an increase from 1GW to 1.4GW of project pipeline.

Piri can convert its CLN at a 25% discount to Rame's AIM Admission value, and retain £80k worth of warrants for a three year life, exercisable at the AIM Admission price.

I wonder if the plan is to hold any such converted equity or sell to reliquefy Piri's war chest? And are they looking for a second pre-IPO deal?

As you say, outspan, they need to boost the share price well beyond 0.1p by this time next year, to create any value for their involvement and effort.

[supermabs] 21/3/2014 14:25

Though there would be more interest in PIRI now

[xcap] 21/3/2014 12:47

brilliant research chaps (m4 Div and outspan)

all looking very good!

should be a healthy premium on listing

Rame, will be fully listed, great revenue pipeline and ......already making profits

[outspan] 21/3/2014 12:05

Wouldn't it be nice if PIRI's participation in the pre-IPO funding opened another door to an allocation in the admission funding:

CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

TBC
___________________________________________

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):
Before Admission
Tim Adams 16.1%
Splendid Sun Holdings Ltd 24.9%
Active Capital Management Pte. Ltd 5.7%
Alexandra Wilson 4.7%
Mafatsana Overseas Ltd 7.7%
Tuda SPRL 8.9%
TNJ Limited 5%

After Admission

TBC

[swizz] 21/3/2014 11:11

Hopefully they are far to busy doing more important stuff??.....AGM...next investment...prelims...major shareholder updates....GL S

[moreforus] 21/3/2014 11:04

too busy having a Friday jolly up

[outspan] 21/3/2014 11:04

Keep focussed on those warrants held by Peterhouse, PR and AQ that need to have value and the more the better BEYOND .1p by Mar/Apr next year. A 40%+ rise from here, even before they begin to accrue any value. Huge incentive and off to a good start! Probably no coincidence that "arrangements" were made to clear the City Equities overhang in the last few days. Clear the decks and all that!

[swizz] 21/3/2014 11:02

I am surprised PR and the BOD have not updated the market......GL S

[moreforus] 21/3/2014 11:01

pre-ipo is always better - I;ve got a few other shell/investcos and when they buy listed stuff it goes down and you may as well buy it yourself BUT when they can get in early pre-ipo that offers most bang for the buck.....

[outspan] 21/3/2014 10:54

Always encouraging when anticipated deadlines are met and this news is right on cue

"...Rame is seeking to admit its shares to trading on AIM during the first half of 2014..."

As you say m4 (and xcap too in a post the other day), pre-ipo is exactly the place to be with the economy fast improving and a wealth of companies now looking to use that backdrop to list.

So great to see that exactly this strategy has been expressed by PIRI as a core part of their investment policy as recently repeated at the time of the Rame investment - watch this space, more to come:

"...Peter Redmond (Chairman) commented "This pre-IPO investment reflects our strategy of taking stakes in value-producing companies which plan to come to the market in the near term and where some initial cash can facilitate their IPO and help their business develop. The Board believes the Company has been able to invest on quite favourable terms.

We hope this will be the first of a number of such transactions..."

[moreforus] 21/3/2014 10:44

if the ipo does well ie its up like a few others 25-50% on the open and PIRI converts its 25% discounted shares...then the 400k looks a lot healthier!

[droftarts] 21/3/2014 10:32

So does this now mean we only get the cash back that we lent and a small interest payment? Or do we get Equity at a discounted price still?

Droft

[moreforus] 21/3/2014 10:29

pre IPO investments are were to be....gives the most upside.....

[flojo] 21/3/2014 10:28

Thanks all.

[moreforus] 21/3/2014 10:26

EXPECTED ADMISSION DATE:
4 April 2014

[flojo] 21/3/2014 10:25

Can someone paste the annoncment ?