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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Plutus Powergen Plc | PPG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.025 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.025 |
| Top Posts |
|---|
Posted at 31/7/2022 10:48 by petersinthemarket >SK2Many thanks for your contributions on traps like cash shells. Much appreciated. I am one of those caught out by PPG. A bit late in the day I took (your?) advice to save what I could. FWIW I did that and got some cash out but it was an expensive lesson and I'm still stuck with a load of nil value shares in my trading account. The point is that I have been investing and trading off/on for at least twenty years and I thought I was a sensible investor until I got caught by this, which showed for sure that my experience in this particular field was grossly insufficient. I have duly noted your many contributions on the subject on this and other threads. You have pointed out the traps to anyone prepared to listen, but unfortunately the necessary gen has to be found by accident on many individual share threads. We ideally need to be able to find the names of the companies and the names of the serial perpetrators in one place. I wondered whether you or someone with suitable experience would be prepared to run a dedicated thread, perhaps called shells, to pull everything together in one place so that everyone would have a trusted point of reference to go to which could warn them of similar potential traps. |
Posted at 10/3/2022 07:26 by sweet karolina2 PPG annual report finally with CH:Still trying to keep the hope alive, however the existing equity (around 4.5 Billion shares) is completely worthless zero cash and net current liabilities a year ago of over £700k. There must be something seriously wrong with the intended "acquisition" for MCIL to even be thinking of doing an RTO into this perennial uber dog that does not even have a listing. They say (no guarantees) that they are trying to do a placing just to raise the money needed to list. I bet there are loads of "sophisticated investors" who can't wait to pile into that. Perhaps they need to tap up some mugpunters like smcl. |
Posted at 26/2/2022 11:19 by petersinthemarket I sold up some time ago and suffered a most unpleasnt loss, but I was left with a large pile of Plutus Energy Ltd ordinary shares at zero cost and zero value.My ISA provider (Interactive Investor) now tells me that these dregs are not deemed to be ISA-eligible under HMRC rules. I therefore have been given until 9th March 2022 to request that they are moved from my ISA account, either into my trading account, or I can request they withdraw them into certificated form, registered in my name and posted to me. There is no suggestion that I could sell them of course and there seems no actual way to simply lose them. Hardly any surprises here, but the end of the road at last. The robbers have finally won Anyone else had a similar letter? pete |
Posted at 18/1/2022 11:18 by nige223311 if we had been more supportive and far less negative with the ben's creek merger it may have greatly enhanced our investment,lets try +get it right this time.all the best fellow investors. |
Posted at 17/11/2021 08:30 by brad44 2pablo, someone should start a thread for directors not to trust. that would be a great thread for all us investors and traders. |
Posted at 14/11/2021 17:55 by petersinthemarket I agree with 2pablo in principle.For 12mths now, I have believed that investors were being conned out of their cash. Unfortunately the share price said that we could do nothing except get out and lose. From what I have picked up elsewhere, this is nowhere near a first. These guys are experts at cash extraction. These guys have done this before with more than one company. Why are they believed and why are they allowed to continue? Where are the market controllers? Where is the FSA? Don't the II's do due diligence before committing investors cash? It seem to me that the technique is to make the scam and the ending extend over such a long time that people get fed up and move on elsewhere, leaving them to do whatever they need to do to drag out the inevitable ending. They appear to be able to pull in our money, pull in fresh II money and then pull out. If I am wrong, feel free to correct me. I don't think these directors should be allowed to operate in the market. pete |
Posted at 05/11/2021 07:53 by sweet karolina2 What killed the deal and the company is whatever it was that caused the Nomad to resign. It is clear now Ben's Creek has its own listing that there was never any problem with that end and the problem was all inside PPG. The Nomad would have earned a decent fee had the Ben's Creek deal gone through and, as it now is, it is probably owed money that it will now never see, so the resignation was not over some trivial matter or disagreement - there was something seriously wrong in PPG. Whilst we can speculate what it might have been, the city's code of omerta will mean we never find out for sure. The wise investor could see the writing on the wall a long way before this and got out whilst mug punters were buying.It is also clear that Ben's Creek, as I said when this was first announced, had no real need of PPG as there were plenty of other ways it could get listed. Ben's Creek always held all the cards in any negotiation and would not have paid more than about £200k for the cashless shell that was PPG had the Nomad not resigned - Ben's Creek seem to have had a lucky escape from what always looked like a foolish tie up with this uber dog. In the meantime how are the plans for PPG to relist on the (sub)Standard List going I wonder - 20 Sep "The Company will provide a further update in the near future." PPG should have produced fully audited full year results last week - AIM and the (sub)Standard List suspend companies that don't produce results on time, so failing to meet a really basic requirement of the market you are trying to join is not exactly a great way to begin the new listing process. Most of the work to produce the accounts would have already been well advanced as it would have been needed for the DD for the Ben's Creek deal. However we all know that the talk of a new listing was just more of the BS the directors have been pushing out for years to keep mugpunters happy. |
Posted at 10/4/2021 21:27 by robertspc1 Agree ... SPAC mania not yet dampened in AIM shells. Way too many inexperienced investors think it's free money |
Posted at 13/1/2021 00:21 by sweet karolina2 pablo,An RTO is defined as any transaction where what comes in is bigger than what is already there. As there is nothing there, what comes in has to be bigger. The way the RTO would work, if it happens at all, which is unlikely but not impossible, is PPG will issue new shares at a price that values existing equity at about £200k plus net current assets and values whatever is coming in at a fair price. Normally the point of reversing into a shell is to get a listing and raise money. Part of the readmission process involves the new company having enough money to achieve its programme and cover admin costs for at least 18 months. The cost of doing an RTO and readmission document is around £300k in fees and the placing that goes with it will have broker commission - normally about 5% of what is raised. If the placing does not happen because investors don't want to put up the money the broker gets nothing, but some of the other fees are still payable. Some can come out of the placing, but given the uncertainty some will need to be covered from pre-existing cash and that is why a placing is needed ahead of the main RTO placing and it needs to be done whilst PPG is still trading (under 5 months to suspension). The reason why the RNS was released saying no reason for rise and we need to raise cash is to get the shareprice back down, otherwise nobody in their right mind would buy into the first placing unless it was at a 90% discount. The really smart way to play this is not to play at all and if you do hold to use fools rises like this to get out. If an RTO does get announced then the shares will suspend whilst a readmission document and all the DD is done. If at that point you like the sound of it, then contact the broker and ask to take part in the RTO placing, you will get all the documentation so you can do full research before you are committed and you would definitely get back in at a much lower price than you sold for. |
Posted at 20/11/2020 16:07 by sweet karolina2 "not all shells make investors money"To be more accurate an AIM shell that does make real money for investors, as opposed to pump and dump merchants, is the exception not the rule. These exceptions do happen but there is no way to spot them whilst still in the shell stage. It is best to wait and see what does get reversed in and by whom and what happens to the old management (quietly sacked is generally the best thing). If you like the look of the new company then invest under your normal new investment criteria. If you already were a holder and had put them in the bottom drawer because they weren't really worth selling, then still consider it a whole new investment and not an average down opportunity. |
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