Plutus Powergen Share Discussion Threads

[bishopawn] 09/8/2018 17:34

Chairman on Plutus twitter account recently invited anyone to email him and he would reply within 48 hours. To date there have only been 2 or 3 emails received by the Company I am led to understand. So much for all the bull-iton boards' blather elsewhere; that place where the sun never shines, if you get my drift. An 'orrible place to visit. If the trolles horribiles were genuinely interested in finding out what's going on, why have they not bothered their deriaire to put a question to the Chairman???

[pbanus] 09/8/2018 17:31

come off it savvy, we all know who you are, stop patronising other posters, "i'm in the same boat, to an extent", paid £150k per annum, loaning money to the company at 8%, giving myself share options whilst at the same time saying there's no dilution. I'm surprised you have the nerve to come on here anymore.

[1savvyinvestor] 09/8/2018 17:26

Pete . Certainly have sympathy and am in the same boat to a certain extent although my average price in the mid 1s. It is frustrating that they haven't been able to keep us more up to date. My hope and belief is that once this difficult period is over we will get a regular stream of news including a lot of twitter activity. However due to the nature of the relationship with Rockpool and the sensitivity of a big financing deal they seem stuck and unable to keep the market fully informed. I don't think this is sinister. It is just that they are involved in very confidential and delicate negotiations. A lot of nonsense has been talked about the Rockpool sites. Five of them have excellent 15 year contracts and will attract buyers. One is not going to be hugely profitable. I suspect the last three are going to be part of the big deal being negotiated , hence the silence . Just speculation on my part - I really don't know.

[pbanus] 09/8/2018 17:23

a1m1nvestor - read the 2017 annual report, look at the lack of newsflow, look at the accounts of attune energy, look at the share price falling off a cliff and make your own mind up. The BoD have plenty of time to give updates, they choose not to do so. Look at the chairman's other companies and how they have fared. Look at the salaries the directors take, look at the rate of interest they charge on loans to the company, Look at the part time commitment they have to the company, look at the share options they award themselves claiming to have no shareholder dilution...Look at the progress at companies like Green Frog, they've run rings round PPG...This will end up being another shell company to go with the others that the chairman seems to collect. Shareholders on here feel ripped off by the behaviour of the directors. Hopefully this gives you some reasons for a bearish view on the stock!

[petersinthemarket] 09/8/2018 17:11

I am a LTH so I'm in the same boat as the rest of you, but I really don't see where your confidence is coming from. Despite believing in the early story I am so far under water here that a snorkel wouldn't help and the value now makes it not worth selling. Luckily it's a relatively small part of my pf. As for 'balls', no-one is daft enough to plow piles of new dough in without sufficient good info to work on. IMO we have had insufficient recent news to indicate how things are going. Personally I like to see at least quarterly updates. Good, bad or indifferent, I like to see frequent news. If the BoD are actually doing something useful for their more than adequate salary they are not telling me enough about it. I guess we will see if your confidence is well placed soon enough now as it's likely we will get finals around first week in September but after a drop of two thirds in the share price the news will need to be exceptional to forge any substantial recovery. pete

[nw99] 09/8/2018 16:46

Very wrong here

[pbanus] 09/8/2018 16:35

The only source of gas round here is Savvy and Bishop...they couldn't even run a bath, never mind a business. In terms of being a director they couldn't direct p*ss into a bucket.

[bishopawn] 09/8/2018 16:31

10 gas sites up and running should be well within their skill sets. What Plutus is working on must be attracting some big players wanting to partner up with us. The drop on low volume today should make the price even more attractive to those with funds to invest and not party to upcoming deals. Multi bag opportunity for sure to any contrarian with balls.

[pbanus] 09/8/2018 16:26

Savvy is trying to make the point that he has two people "on the spanners" so to speak. But savvy has missed out two other directors, the implication being that those two don't know what they are doing. Presumably they are the ones responsible for the "P I V O T A L" year PPG are enjoying with a 60%+ share slide...that his newly appointed spokesperson Mouthpiece Monty describes as a "blip".

[1savvyinvestor] 09/8/2018 15:57

These are the guys who run the business and certainly know what they are doing.

[1savvyinvestor] 09/8/2018 15:57

Phil Stephens ; Phil has held senior roles in the energy industry, including a power generator where he was responsible for the transition from a national generator to a premium low carbon energy supplier. As a partner in global consulting firms, he has worked with boards of energy utilities, leading practices and projects around the globe. He has since worked with organisations in strategy and commercial director roles, including value realisation for private equity. Most recently Phil was a director of a STOR business in the UK.

[1savvyinvestor] 09/8/2018 15:56

Paul Lazaravic - Paul was founder director and CEO of Fulcrum Power, a STOR business. He has a long track record in the energy industry previously being CEO of a grid balancing technology company. Prior to that he was head of corporate sales at RWEnpower, responsible for a £1.5bn operation. He spent 10 years at ExxonMobil where his experience varied from managing the design and construction of refinery power generation in the USA and Far East, to setting up a gas trading operation in the UK.

[rhug1966] 09/8/2018 13:41

Thanks, if that is the case then it doesn't look good. To be honest, I don't think anyone would pay £4.2m for a diesel asset anyways based on future earnings after TRIAD...looks grim. The future of this company depends on whether the BODs can get the finance for gas....plain and simple. Pivotal as Mr. Tatnall puts it.

[pbanus] 09/8/2018 13:00

So if we assume all the debt is PPG debt, then perhaps the debt to be paid off needs to come out of the PPG proceeds of the sale and not the combined sale fee. So if £25.2 M is raised from the sale, 55% goes to Rockpool = £13.86M. 45% goes to PPG = £11.34M. Out of that £11.34M we need to take £12M of debt...which means that there would be a balance owing of £660,000. So the value of the assets is less than zero once the debt is deducted...negative equity!

[pbanus] 09/8/2018 12:46

Thanks for this Rhug, it seems to me that the debt on the balance sheet of Attune is all PPG debt, the Rockpool contribution was all cash. I suspect it is the same with the other SPVs. We need to remember that the market has moved on from diesel/biofuel, nearby residents don't like the noise and pollution as an article in the Guardian citing Plymouth residents states. Diesel/biofuel is old technology so why would any external investors wish to buy it? I would guess that the directors of PPG would rather keep the diesel sites as these are the cash cow funding their £150,000 per anum salaries. They'll then need to raise more debt to buy these out from Rockpool. I agree with your summary that it looks like the company is worthless.

[rhug1966] 09/8/2018 12:33

The Rockpool sites are not worth more than the market cap I don't think. The tangable asset value of a diesel site using Attune as an example is £4.2m. So £4.2 X 6 = £25.2m for the 6 SPVs. There was a debt incurred to building these sites and again using Attune as an example is circa £2m. There maybe more debt for the other 5 SPVs as they have been in operation one less year. I'll use £2m X 6 = £12m is the total debt to be repaid. So £25.2 - £12m = £13.2m net asset worth. PPG own 45% of that so £13.2m X 45% = £5.94m. Rockpool want to sell in Q2 2019 and in my opinion, they will be lucky to pay off the outstanding debt. This leaves PPG with zero and also zero management fees for managing the sites.

[pbanus] 09/8/2018 12:31

there's no corporate governance at PPG, the directors do what they want, re-numerate themselves how they wish, waste shareholders funds on deposits for gas CM auctions and abortive planning applications, give themselves oodles of share options diluting the holding of everyone else and generally treat "ordinary" shareholders with disdain and as a convenience...The institutional shareholders need to step in and drain the swamp here! Insist on change or they sell up.

[pbanus] 09/8/2018 10:48

well said Lilah. We all know who savvybishop are, they've now crawled under a stone somewhere to hide. So we are left with their cronies like Monty the Mouthpiece to dribble information that they can't get past their broker into the market. They daren't put out an RNS as they'd have real problems getting it past their Nomad. The part time directors with their schoolboy errors have been exposed. PPG is heading to become another "shell" company like the others the directors seem to collect and do nothing with.

[lilah1] 09/8/2018 10:41

This is all down to a bad management team, who don’t know their market, have read the market opportunity wrong, have no track record or experience in this sector at all (Tatnall & Longley) out of their depth, bad investor relations, have over promised and under delivered to the point of we have been totally mislead (proof is in the last 18months of RNSs). They need to be made accounble for their actions. They are taking out over £600,000 in saleries and loan repayments PA and have diluted the share capital by issuing themselves huge amounts of shares. They (Tatnall & Longley) are definitely working part time on PPG, as they have interests in three other AIM entities, Fandango, Stranger & Papillion. We need a management team that knows their market & has a track record, Longley and Tatnall need to be replaced

[pbanus] 09/8/2018 10:40

Listen everyone a 60% crash in the share price is a "blip", words of wisdom from Monty and the Bod. A blip over the last 7 months.

[pbanus] 09/8/2018 10:37

buy the dip? Don't throw good money after bad! If the BoD had anything positive to say about the company they'd put out an RNS. They're too skinny to do that so use Monty as the mouthpiece!

[pbanus] 09/8/2018 10:32

Monty you really are a disgrace posting comments from the Chairman of a quoted company that he is not prepared to state via an RNS himself. This is price sensitive information and if you are believed that it is from him it's insider trading!

[pbanus] 09/8/2018 10:32

Monty you really are a disgrace posting comments from the Chairman of a quoted company that he is not prepared to state via an RNS himself. This is price sensitive information and if you are believed that it is from him it's insider trading!

[nw99] 09/8/2018 10:28

Buy the dip