Share Name Share Symbol Market Type Share ISIN Share Description
Plutus Powergen Plc LSE:PPG London Ordinary Share GB00B1GDWB47 ORD 0.1
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 0.0525 3,550,691 08:00:00
Bid Price Offer Price High Price Low Price Open Price
0.045 0.06 0.0525 0.0525 0.0525
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electricity 1.28 -1.65 -0.22
Last Trade Time Trade Type Trade Size Trade Price Currency
16:08:32 O 200,000 0.052 GBX

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Date Time Title Posts
12/10/202010:34Plutus PowerGen (PPG)2,740
25/6/201819:29Plutus Powergen38
25/6/201819:29Plutus Powergen - A great growth story49
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Plutus Powergen Daily Update: Plutus Powergen Plc is listed in the Electricity sector of the London Stock Exchange with ticker PPG. The last closing price for Plutus Powergen was 0.05p.
Plutus Powergen Plc has a 4 week average price of 0.04p and a 12 week average price of 0.04p.
The 1 year high share price is 0.20p while the 1 year low share price is currently 0.02p.
There are currently 872,534,994 shares in issue and the average daily traded volume is 5,629,534 shares. The market capitalisation of Plutus Powergen Plc is £458,080.87.
volsung: Got this from HL The Board of Plutus Powergen plc has announced that it intends to demerge Plutus Energy Limited (which holds the Group’s shares in Attune Energy Limited). Subject to shareholder approval at a General Meeting to be held on 3 November 2020 and approval by the Court at a Hearing on 24 November 2020, Shareholders as at close of business on 24 November 2020 will receive 1 Plutus Energy Limited share in addition to every Plutus Powergen plc share held. The Demerger is expected to complete between 27 November 2020 and 11 December 2020 with the new Plutus Powergen plc shares due between this timeframe. The new Plutus Energy Limited shares are expected to be admitted to trading on the London Stock Exchange.
jayminpatel1: Dog share at best
petersinthemarket: Many thanks 2pablo - I had missed that - what a sneaky time to issue. For the avoidance of doubt, I may have given the impression recently that I have a genuine interest in this company, when in fact I have just been poking fun. I used to believe in them and I still hold PPG shares, but I have long since recognised that they had become worthless. I assume that hasn't changed since last night. I wrote my holding off a long time ago. The BoD are crooks and shysters. That has been the case for a long time and it still is the case. They have now, unsurprisingly, engineered yet another immensely complex way of getting even more money out of this mess for themselves and their cronies. They try to give the impression that the whole world has conspired against them, when in fact they are just incompetent. Their staggeringly long document, to me at least, is completely unintelligible, but leaves me with the feeling that they are again looking after themselves and a couple of city buddies, but no-one else. They used phrases amounting to ''for the benefit of shareholders'' many times but I can't believe for a moment that anyone believes that. Perhaps those who understand this process far better than I do will explain in very short order what the hell it all means, for any of us. I would be most interested to know how everyone is going to vote, and Volsung, your comments could be very interesting. I hold 1 million shares at a total cost of £8272 and I am willing to transfer them to anyone at that price on Monday. Any offers? pete
petersinthemarket: The chart seems to agree with you Volsung. She Doth Rise. Why? is anyone's guess. You might even stretch a point and call that a break out! But still rather oversold and modest volume. advfn can't even find a way of adding such low sp's to it's chart. Why hasn't PPG gone phut yet? Still not sure whether I am watching a death struggle or a rebirth. Intriguing.
x1000: PPG going for windowed?
bmcb5: Hi Peter There is a non trivial chance of very high power prices in the coming winter. Prices hit >£500/MW for a short period last week, and with brexit around the corner, who knows the impact on security of supply. That said, overall demand will be much lower this winter due to partial shutdowns of the economy (National Grid predicting peak demand of only 43GW, compared to historical averages around 50GW) Still, Have Plutus even got any sites any more? Did they not all go back to Rockpool? (I confess I can't remember, and can't be bothered to look) There are now so many peaking gas sites on the system, that will always be lower marginal cost than diesel, who will likely grab any short term gains, ahead of the likes of PPG Not even a consideration for me. Hope that helps
x1000: It's a gamble. We should have been dead by mid May and we are not. What is keeping PPG alive?!
petersinthemarket: We have had no meaningful news for some time. The last I saw was the Alliance News item on 1st April 2020 on Morning Star: Extracts below - full report is on PPG web site: ''PPG said it is low on funds and has decided to stop trying to develop gas new sites and pursue the sale of its current interests...........After a shareholder meeting in January, Plutus and "industry-expert consultants" have been remodelling the economics of potential gas sites with the goal of achieving a "supportable attractive" initial run rate......planned to then take the new models "to potential equity and debt funders of shovel ready gas sites"........However, Plutus was not able to "project or model satisfactory returns from or source funding with those returns". Given this, Plutus has come to the conclusion that pursuing funding for new sites and appointing a new operations team with an operations director is "now untenable" and it has abandoned its strategy of developing gas sites......... Plutus now "has no ongoing operations or revenue generation" but still holds interests in existing flexible energy generation sites, comprising of a 45% carries interest in "nine 20 megawatt co-owned FlexGen companies"..........these interests are currently "being marketed for sale" and will operate independently from Plutus. Any disposal will count as a fundamental change of business for Plutus and would need shareholder approval, as well as turning the company into an AIM rule 15 cash shell.......The board are also currently giving consideration to hiving out the remaining assets of the company, including the interests in the co-owned FlexGen sites, into a newly incorporated private company which would be owned by the company's shareholders on a basis pro rata to their existing shareholding in the company...........Back in January, Plutus signed an up to GBP150,000 unsecured lean far, Plutus has received GBP75,000 of this loan, which were used to meet its short-term working capital needs. The provision of any further funds has been suspended given the change in Plutus's circumstances.......With "negligible cash resources" and trade creditors of more than GBP100,000, it needs creditor support "to manage its working capital position". At present, the company is looking at other funding alternatives.'' I find it hard to believe that any commercial investor would put new cash into this.
gretagarbo: RNS on Riverfort site re PPG ; Here is the text; RiverFort Global Opportunities PLC Update re Plutus PowerGen plc requisition 19/12/2019 11:45am RNS Non-Regulatory TIDMRGO RiverFort Global Opportunities PLC 19 December 2019 19 December 2019 Update with respect to the Plutus PowerGen plc requisition A response from the requisitioning shareholders, Chelverton Asset Management and RiverFort Global Opportunities plc To shareholders of Plutus PowerGen plc Dear Shareholders You will have seen our letter to you that was circulated along with the notice of General Meeting by Plutus PowerGen plc (the "Company" or "PPG") on Friday 13 December 2019. Our letter clearly sets out why we believe that the Company needs a new board of directors if it is to stand any chance of survival. Unfortunately, we were limited to writing 1,000 words in that letter to set out our case and proposals. We are therefore taking this opportunity to give a more detailed response to the views expressed by the incumbent directors of PPG in the recently published circular and to update shareholders on recent developments. As we said in our original letter, we have been seeking to work with PPG's board since May of this year, but have made little progress and, given the number of additional worrying events that have taken place since, we have been left with no alternative but to seek to replace the current board in order to save the Company. We are now writing to clarify certain matters raised in our letter and/or points raised in the Company's circular, and more generally. Experience of the new team and strategy The proposed Alternative Directors have significant experience of AIM listed companies and, in particular, of companies that have been in difficult situations, and we have a record of being able to successfully resolve those situations. Furthermore, the Alternative Directors have access to both proprietary capital and funds from other investors - something that the Company will need now or, most likely, very shortly. If we were appointed, our initial strategy would be to stabilise the Company by reducing and controlling costs and to make sure that the Company has the necessary funds to enable it to continue to trade. We would also seek to rebuild relationships with the Rockpool-owned power companies. Once the Company has been stabilised, we would look to take action to maximise the potential investment return for all shareholders - we firmly believe that there are a number of opportunities that the Company could pursue that would create value for shareholders which we have already started to progress. The sale of the existing power sites has been mentioned but we believe that this is highly unlikely to happen quickly enough. Also, any price offered at this stage is unlikely to be attractive due to current market conditions and the sense that the Company is a "forced" seller. It would also require the agreement of Rockpool. In terms of obtaining funding for the construction for new gas sites, to date, it would appear that very little, if any, progress has been made so we do not believe that our actions could have made matters worse than they already are. We believe that with a completely new management team in place the prospects for obtaining the necessary financing will markedly improve as, between us, we have a very considerable network and extensive experience of arranging funding. Rockpool As we have mentioned previously, if the current board is changed, we believe that there is a very good chance that we would be able to rebuild the relationship with the Rockpool-owned power companies. This would be very helpful regarding both the building of the Company's first gas site and the possibility of reinstating the management contracts. PPG has stated in its circular that it does not believe that the management contracts can be reinstated - we would readily agree with them if the existing board were to remain in place. However, we have recently been in contact with the Rockpool-owned power companies and they have confirmed to us that in the event that the current directors of PPG are removed and replaced with a board acceptable to them, they would be open to discussing the potential reappointment of PPG to manage these companies - this is a very significant development. The reinstatement of these contracts would be a material event for the Company and greatly improve its financial position. It is difficult to form a view of the Company's short term funding requirements without a better understanding of its actual financial position, although we believe that it is extremely weak. Listing on AIM Provided that the Company has the necessary funding in place, we do not believe that there is a risk that the Company will be suspended or delisted as a result of shareholders voting for the resolutions proposed. In summary, we strongly believe that the only way for the Company to survive and thrive going forward is for shareholders to vote for the resolutions at the forthcoming general meeting of the Company on 10 January 2020 in order to remove the Existing Directors and appoint the Alternative Directors. We accordingly urge you to support the proposals that we have set out in the requisition. We can only achieve our objectives to turn around this situation with your active support. The Company has been compelled by law to convene a general meeting at which our proposals to remove the existing Board and appoint the Alternative Directors will be put to you as shareholders. However, these proposals can only be implemented with your active support and if you consider our proposals to be a sensible and an effective way to achieve change for the better please vote to support them. We appreciate that this means you will need to vote your shares and this may mean contacting your broker or fund manager (in whose custody the shares may be held). We urge you to take the time to do this as there is unlikely to be another opportunity to rescue this unhappy situation. If you need further information on how to vote your shares please contact the broker or platform through which you bought them and ask to speak to a contact in their "corporate actions team". Yours sincerely David Horner Nigel Burton Nicholas Lee Managing Director Investment Director Chelverton Asset Management RiverFort Global Opportunities plc This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit
gretagarbo: This is the only bit that shareholders need to read. The board's defence is waffle at best and defamatory at worst. Dear Shareholders Introduction We are the two largest institutional shareholders in Plutus PowerGen plc ("PPG" or the "Company"), with a combined holding of in excess of 9%. We are highlighting here our concerns about the Company and explaining the background to the requisition that we have recently served. As institutional shareholders, we consider that it is only right and responsible for us to take an activist approach where we consider that circumstances are such that drastic action is necessary. We have done this because we believe that there are now limited options to preserve shareholder value in a situation where the Board is unwilling to accede to, and/or dismissive of, wholly reasonable shareholder demands. In summary: -- the Board has rejected numerous approaches by us over several months aimed at providing improved financial performance, governance and expertise to PPG; -- the Company's shares have fallen by over 93% since early 2018; and -- the replacement of the Board is the only way that the Company will be able to raise sufficient funds to survive and have a viable chance to thrive. We therefore believe that the only way forward now is for us to seek to remove the existing board in its entirety, appoint David Horner, Nicholas Lee and Nigel Burton (each of whom have consented to act as directors of the Company) to the board, and to reinstate Paul Lazarevic as a director. Paul being the only recent board member with the relevant sector experience. Whilst we regret the need to deal with this matter in the public arena, we have made no progress dealing privately with the Board and therefore cannot see any alternative but to approach shareholders directly to support us. We are aware that the sector in which the Company operates has recently been difficult given the issues with the capacity mechanism ("CM)") and the phasing out of the triad payments. Whilst we were pleased to learn that CM is to be reinstated, in the short term, we do not believe that this does anything to help the Company's current financial position. We remain very concerned about the complete lack of any progress by the Company over the last two years and the serious weakening of its financial position. Our concerns We list below a selection of our concerns that have come to light over recent months: -- PPG has lost its management contracts with Rockpool Investments LLP ("Rockpool"), which were the Company's only source of income, amounting, we believe, to over GBP500,000 per annum. Also, this apparent breakdown in the Rockpool relationship does not bode well for the proposed development of the Company's first gas site with Rockpool; -- there is a lack of cost control with administration costs appearing to be very high given the scope and scale of the Company's operations. The GBP500,000 raised from the placing in November 2018 has been spent when financial prudence should have been observed and administration costs reduced; -- the Company failed to get planning approval on the site in Devon which is a blow given the excitement and expectation when it was first announced; -- the potential funding for the gas sites does not seem to be any further forward; -- Paul Lazarevic, the only board member with any relevant sector experience and important relationships within the sector and the person responsible for operations has now left the Company so, in our view, the current board is no longer fit for purpose; -- PPG's share price has fallen significantly since early 2018, at one stage reaching 0.11 pence, valuing the Company at around GBP960,000; -- the Company appears to be very short of cash - on 30 May 2019, it announced that, as at 30 April 2019, it only had a cash balance of GBP64,000 even after the GBP500,000 placing in November 2018. Now it would appear that the figure at that date was in fact lower still at GBP45,177 - the current cash balance must now be almost zero. Given the Company's recent share price performance we believe that the current team will struggle to raise new funding; -- the recent publication of the Company's results for the year to 30 April 2019, moments before the deadline to avoid suspension in trading of the Company's shares, has done more to heighten our concerns as opposed to allaying our fears; and -- the Company's financial situation and prospects have now clearly deteriorated further since its year end as a result of the loss of the Rockpool contracts. The Company's auditors appear to agree with this analysis, stating that the Company will need to raise new working capital and including a material uncertainly paragraph within their audit report. The way forward We are confident that PPG does have the potential to do well in what will ultimately be an attractive sector, however, we believe that there is an urgent need to change the board in order to secure the Company's survival. The proposed new directors have the relevant experience and access to capital in order to stabilise, refocus and grow the Company. Furthermore, we believe that a new board will provide all stakeholders with renewed confidence in the Company which may even enable the Company to encourage Rockpool to consider the reinstatement of the management contracts. Interestingly, once our requisition to effect change was announced by the Company, the share price rebounded from a low of 0.11 pence to 0.165 pence, an increase of some 50%, thereby confirming investors' appetite for change at the Company. Action to be taken In summary, we strongly urge shareholders to vote in favour of the resolutions that will be proposed by us at the forthcoming general meeting of the Company as we believe that this is the only way for shareholders to take affirmative action with a view to protecting our investment in the Company. Yours sincerely David Horner Nicholas Lee Managing Director Investment Director Chelverton Asset Management RiverFort Global Opportunities plc
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