Share Name Share Symbol Market Type Share ISIN Share Description
Plutus Powergen Plc LSE:PPG London Ordinary Share GB00B1GDWB47 ORD 0.01P
  Price Change % Change Share Price Shares Traded Last Trade
  0.0025 6.25% 0.0425 158,806,153 14:11:11
Bid Price Offer Price High Price Low Price Open Price
0.04 0.045 0.045 0.0375 0.04
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electricity 1.28 -1.65 -0.22 2
Last Trade Time Trade Type Trade Size Trade Price Currency
16:20:54 O 1,000,000 0.0449 GBX

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Date Time Title Posts
12/10/202009:34Plutus PowerGen (PPG)2,740
25/6/201818:29Plutus Powergen38
25/6/201818:29Plutus Powergen - A great growth story49
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2021-03-08 16:20:590.041,000,000449.00O
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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 0.04p.
Plutus Powergen Plc has a 4 week average price of 0.03p and a 12 week average price of 0.03p.
The 1 year high share price is 0.12p while the 1 year low share price is currently 0.02p.
There are currently 5,263,004,994 shares in issue and the average daily traded volume is 535,323,378 shares. The market capitalisation of Plutus Powergen Plc is £2,236,777.12.
sweet karolina2: If there had been any agreement at all on an RTO then the shares would have been suspended before now - that's the rules to prevent manipulation of the price, which does not actually do shareholders any favours anyway. The last 2 days have all the hallmarks of a classic pump and dump operation. Anyone thinking about reversing in to PPG which is just a shell with virtually no cash would not be wanting to pay more than £200k for the shell, spikes like this just deter potential users of the shell. Anyone buying in on RTO rumours, if they turn out to be true would be locked in when the share suspends and then find the RTO and placing price is way below what they paid. Anyone buying in on false RTO rumours is just handing their money to the pump and dumpers. The clock continues to tick with about 3 months left before PPG suspends on time out and then delists after a further 6 months. The opportunities for pump and dumpers to rip off mugpunters using this uber dog are running out, but AIM always has plenty of uber dogs for the pump and dumpers to play with, do mugpunters have the cash to continue to just moronically hand it over?
smcl: Hi bmcb5- thanks for your comments- isn't that broadly similar to PPG Business Model - unfortunately its execution seems to leave a lot to be desired?
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.
2pablo: Didn't see PPG made two RNS's on Thursday, the second saying they didn't know of a reason for the rise in the share price and they had enough money but wouldn't mind raising a bit more to assist in any RTO. Surely the way an RTO would work is that a decent Private Company would want PPG's listing and would reverse into PPG. They would be paying PPG by buying out it's shares. However, I'm confused, I copy below something from PPG's rns on Oct 9th : "Following the Demerger, the Directors consider that there is an opportunity for Shareholders to realise value through the Company completing a reverse takeover of another business. The Directors will use their knowledge and experience to seek to identify a suitable reverse takeover target. There can be no guarantee that they will be able to identify or successfully acquire a suitable reverse takeover target during the period that the Company is a Rule 15 Cash Shell or thereafter." This latter seems to infer PPG will takeover another business but I can't see how that would be a 'reverse takeover'. Any thoughts on the idea/process anyone? I realise it's all b*ll*cks and almost certainly Tatnall will achieve nothing
sweet karolina2: czar, Will any business come in? The clock is ticking - suspension in under 6 months delisting in under 1 year. What price will the RTO, if it happens at all be done at - I would suggest it would be around 25% of current share price based on what I said above about the value of an AIM shell, however please feel free to explain your rationale behind why you think it would be higher than it is now.
2pablo: AOGL RNSD 16th Nov : "Under the terms of the Agreement, on completion of the Amalgamation all existing Attis Shares will be cancelled and Attis Shareholders will be issued with 1 Helium One Ordinary Share at 2.84p per Share for every 236 Attis Ordinary Shares (held at close of business on 1 December 2020), which values Attis at a fixed amount of approximately £1.76 million, representing a value of 0.012p for each Attis Ordinary Share. Attis shareholders will hold approximately 13 per cent. of the enlarged Helium One Group on Admission." Since the RTO (or amalgamation) announced on Nov 5, AOGL shares have more than doubled to that valuation to 0.026p so m/cap £4m now. Presumably with Helium1 over-subscribed placing at 2.84p, the new shares will probably open well over that price next Friday Dec 4th. Not knowledgeable really about Helium but I know it's flavour of the month. I suppose this sort of thing is what existing PPG holders must be dreaming of. Good luck to them.
2pablo: Thanks smcl. Karolina - re. 'the proposed demerger of Plutus Energy Limited, which holds the Group's shares in Attune Energy Limited and a receivable totalling £ 656,856 in unpaid management fees owed to the Group.' I don't think this will have any value as I think the value of the Attune sites is very little if not negative, and don't think Attune will ever pay PPG the £656k. If anything ever went into the Private Company it would surely not come out again. I'm not holding any PPG shares any more as decided to take all the loss around March after the failed coup and when the major shareholder opposed to mgmt sold all their 330m shares. Yes, lessons learned is the greatest thing. With this share it seemed such a steady business compared to exploration, mining etc. I also know someone who WAS very friendly with Chairman Tatnall and invested in Attune. Tatnall and sidekick Langley ruined this share for their own greed taking their salaries while doing nothing worthwhile in latter years. AOGL, another legacy disaster of mine, is now completing their RTO giving Helium1 their listing. That has the AOGL share price doubling in quick time prior to rto completion. Definitely going ahead now with Helium oversubscribed placing - interesting to see how that RTO goes in the future
sweet karolina2: pablo, I never really followed the PPG story, so this is a totally unbiased question. With the benefit of hindsight do you think the business proposition PPG offered and you invested in on the basis of that business proposition was ever what it was dressed up to be? Or could it be that it was only ever a pipe dream made to look like a real business with smoke and mirrors in order to sucker in PIs in order to pay directors and advisors their fees? I ask only because a lot of the companies on AIM that end up where PPG is now are exactly the latter.
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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