Pires Investments Share Discussion Threads

[outspan] 30/4/2014 23:36

Website Rule 26 page not updated with latest Significant Shareholder information yet but can be seen in pdf results statement there. Confirmed Otterswick gone, Gledhow/Bruce Rowan still fully onboard, as are both Ambrosia and AIMS Consultancy (last Summer's £500k placees). Other than that, those that acquired the Otterswick stake are apparently hiding behind one or more nominee accounts:

Ordinary shares of 0.1p each, Number, % of the issued ordinary share capital

Ambrosia Investment Limited 375,000,000 16.15%
Gledhow Investments plc 200,000,000 8.61%
Jim Nominees Limited 198,007,117 8.53%
W B Nominees Limited 180,500,000 7.77%
XCAP Nominees Limited 151,254,000 6.51%
TD Direct Investing Nominees Limited 127,707,624 5.50%
AIMS Consultancy Limited 125,000,000 5.38%
L R Nominees Limited 121,302,731 5.22%
Euroclear Nominees Limited 70,000,000 3.02%

Warrants exercisable at .1p expiring next Spring re-confirmed. Should be an active 12 months if the Directors/Peterhouse are to benefit!

[moreforus] 30/4/2014 16:31

2 1 mill buys today...does that count as "on fire"...!??

(-;

[moreforus] 30/4/2014 14:05

better do so before the swizz CHA CHA MCR magic bb sets in...!!

[flojo] 30/4/2014 13:52

Pick these up now for.00558.

[swizz] 30/4/2014 07:58

M4 - will do after the hols........GL S

[moreforus] 30/4/2014 07:42

swiss can you set up a fab new thread like with MCR please .... as a new chapter has begun for PIRI...

[olderandwiserone] 30/4/2014 07:38

Well, first of all, word has to get out that RAME is a solid investment priced under its IPO share price and very attractively priced for medium term growth. Sentiment will start to improve as they show they are moving as promised towards being an IPP with a growing backlog of MW capacity to be installed, with financing arranged. This one needs patience but every reason why it should work out.

[flojo] 30/4/2014 07:26

Agreed swiss,can they buy now ?

[outspan] 30/4/2014 00:02

Perhaps not if you're a Director looking to buy?

[swizz] 29/4/2014 22:33

It is a solid set of results, just a bizarre time of the day for them to be released?.....GL S

[outspan] 29/4/2014 21:10

m4, yep, not bad and that was 6 months ago, before the paper gain on the Rame deal. More on 30 Apr valuations with the interims at the end of July and perhaps an AGM statement before that?

Very happy with the Rame holding, massive potential for themselves and therefore for PIRI as both a 3%er and warrant holder. Solid capacity for a quantum valuation leap as Rame morphs into an independent power producer to ever-increasing extent. People probably too used to the AIM casino to take a proper company like Rame seriously until compelled to do so by its progress/growth - which happily should be evident reasonably quickly as it builds scale over the next 3 years.

Meanwhile, PIRI seemingly still has plenty of available cash for further pre-IPO opps, another of which sounds like it may be pretty close.

All in all, a lot of potential being offered here currently for less than nav with no risk of dilution. Plenty others that don't come anywhere near that.

[moreforus] 29/4/2014 18:20

Results out...nav 1.4 mill

[swizz] 29/4/2014 18:18

Finals out.........GL S

Link....



Audited Results for the year ended 31 October 2013

Chairman's Statement

During the period under review, Pires made a number of investments in quoted and unquoted stocks pursuant to its investment strategy, which is to invest principally in the resources and energy sector. We looked closely at a number of pre-IPO and other opportunities during the period and this resulted in the Company making its first significant such investment in the new financial year.

In July 2013, the Company raised GBP500,000 before expenses by way of the issue of 500 million new ordinary shares at a price of 0.1p per share. As at 31 October 2013 the Company had cash resources of approximately GBP1.2m (2012: GBP1.3m).

The cornerstone investee company is Rame Energy plc ("Rame"), in which we invested on a pre-IPO basis in February 2014 and which was admitted to trading on AIM on 10 April of this year. Our initial investment of GBP410,000 was in the form of a convertible loan note which was convertible at a minimum 25% discount to the IPO placing price. In addition, we invested a further GBP55,000 on admission in ordinary shares at the placing price; further details of the investment will be found on page 3 of this document under the heading "Investment Review".

Rame is a well-established UK based international specialist energy producer with a strong presence in Latin America, in particular Chile. Since establishing an office there in 2006, it has been involved in the construction of a significant proportion of wind power projects in that country, developing and implementing power solutions for many of Chile's major mining and industrial corporations. It has developed its own portfolio of projects and is now in the process of becoming an independent power producer in its own right, with significant equity positions in its future developments. We believe that it now has the capacity to make a quantum leap from being a well-respected but modest-sized consultancy company to becoming a substantial player in the energy industry in Chile, which is widely regarded as a stable and rapidly growing economy. The Board believes that the implementation of these plans will result in the further enhancement of the value of the Company's investment.

The Board believes that the investment in Rame will set the pattern for the Company's future investments. Our objective is to provide capital at the pre-IPO stage to well-established companies that are seeking to come to the market in the near term and where the Board believes that the Company's funding and assistance can hasten this process. Although we are looking at other resource and energy projects currently, we are also reviewing opportunities outside of this sector.

The Directors remain mindful of the need to restrain costs and generate additional income streams. The Board believes that the Company is now moving forward in a positive way and it looks forward to further positive developments in the current trading period.

Peter Redmond

Chairman

29 April 2014

[moreforus] 25/4/2014 07:37

well RAME has been marked back up to...18p!!!!!!!!!

whats the market cap of CHA again???

[swizz] 25/4/2014 07:34

M4 - Fingers crossed and agreed it is very good and tangible news......GL S

[moreforus] 25/4/2014 07:19

Actual news swizz ...maybe it will follow CHA up 25 times....

[swizz] 25/4/2014 07:12

It will be interesting to see if the PIRI BOD is awake and if they make any comment on the Rame news.........GL S

[bungeetrader] 25/4/2014 07:12

Pretty good news for PIRI I would say. Just hope it filters through to the SP!

[moreforus] 25/4/2014 07:11

Rame Energy PLC

25 April 2014

Rame Energy / Index: AIM / Epic: RAME / ISIN: JE00BBD8GG53 / Sector: Energy

25 April 2014

Rame Energy plc ("Rame" or the "Company")

Punta Chome Project Update

Rame Energy plc, the international energy consultant, engineer and power generator, is pleased to announce that it has executed binding terms leading to a power purchase agreement ("PPA") for its Punta Chome wind project in Chile. Empresa Electrica ERNC-1 SpA, a Chilean energy fund which purchases variable renewable power output and sells firm power to industrial customers, has agreed, subject to final documentation, to purchase all the energy generated from Rame's 9MW Punta Chome project for ten years from the start of operations. Punta Chome is, subject to financing, due for construction in 2014 with power output expected in 2015.

Punta Chome is located in Region VIII of Chile, approximately 270 miles south of Santiago, on a peninsula adjacent to the coastal town of Concepción. Rame installed monitoring equipment at the site in September 2006 and has been recording and analysing wind data since this time, confirming the high energy generating potential of the project. Once the Punta Chome project is complete the Company will have an interest in three wind projects totalling 24MW. This is in line with Rame's strategy to utilise its proven expertise as a revenue generative global supplier of power related engineering and construction services to blue chip clients, to become a leading Independent Power Provider ("IPP") in Chile. The Company is targeting an operational portfolio of 300MW within three years.

Rame has completed the detailed technical and commercial evaluation of potential turbine suppliers for the Punta Chome project resulting in the selection of Danish wind turbine manufacturer Vestas. Based upon the agreed commercial terms, Rame has awarded Vestas exclusivity for the supply of three V126 3.3MW wind turbines. Vestas will supply, transport, erect and commission the turbines and Rame will undertake the civil and electrical work.

Rame CEO Tim Adams said, "Rame will be involved in the construction of three wind projects in Chile totalling 24MW during 2014 and these binding terms for the output from our 9MW Punta Chome project represent an important milestone. We now have power purchasers secured for our entire 2014 wind portfolio, demonstrating both demand for power in Chile and also our ability to deliver on our strategy to rapidly develop a pipeline of wind projects. This will enable us to build on our existing revenues through our transformation into an IPP in Chile.

"Our agreement with Vestas to supply, erect and commission the turbines builds on the relationship established during the first two projects, and by utilising the V126 turbine we are maximising power generation and therefore project economics. Construction of Punta Chome is, subject to project financing, on course to commence later in the year ahead of commissioning in 2015 and I look forward to providing further significant updates on this in the coming weeks."

[droftarts] 25/4/2014 07:03

Rame News:-

[xcap] 24/4/2014 15:12

the delay could be that they want to announce some good news maybe?

completion on a new deal, perhaps? or who knows RAME may have some news to come through allowing us to take some profits on the share price going through the 20p mark, would make for some good PR at the AGM. just my thoughts

[outspan] 24/4/2014 09:57

lol, booked solid since 2012 prelims last April too? Might well be nothing more than looking to deal with 2 FYs at once and thereby "normalise" the timing of future AGMs to the 2-3 months after publication of finals. Just wishfully thinking that there could be other reasons requiring a shareholder vote.

[moreforus] 24/4/2014 08:56

..or the back room at the Dog n Duck is fully booked through June???

[outspan] 24/4/2014 08:54

Finally found what I've been looking for relating to a PIRI AGM.

It's in their Articles and basically states that an AGM must be held in every year and not more than 15 months since the last one. So in this case, before 21 Jun.

Why the delay though? A chance of two birds with one stone?