Plutus Powergen Share Discussion Threads

[maybesum] 26/11/2018 15:47

RNS seems to have a bit of panic about it if you ask me ......poor old bishop sounds panicky too! GLUG GLUG GLUG.

[pbanus] 26/11/2018 15:41

From what Bishop said he's expecting another big drop on Weds, how low will the share price go then?

[rhug1966] 26/11/2018 15:20

Yes, probably Clocktower. The last placing was only enough to pay 6 months wages to the BOD.

[pbanus] 26/11/2018 15:16

Look at the volume of shares traded today 20Million, unprecedented. Let's see some statements to show how the planning application monies have been spent, which companies did the monies go to, and who were the directors...Let's see all the companies that PPG spends money with, and who the directors are. According to the accounts over the last two years they've spent around £360,000 on abortive planning costs....REALLY?????? Terry Smith of Accounting for Growth fame would have a field day here!

[clocktower] 26/11/2018 14:40

Will there be bigger placings than the last, and if so how long before they bring it on?

[bmcb5] 26/11/2018 14:27

That's just a ridiculous statement

[bishopawn] 26/11/2018 14:13

£3.5 million market cap? Ridiculous.

[bishopawn] 26/11/2018 13:53

I must say I wasn't expecting this kind of action until Wednesday when the newly placed shares can be traded. Some are taking the opportunity to average down and I took the opportunity to do a Bed and ISA this morning for aprox 600k!

Roll on the multiple gas sites, I say! (potentially 300 MW in total)
Good luck to all on the JOLLY GOOD SHIP PLUTUS!

[pbanus] 26/11/2018 12:51

at what point will the shares be suspended I wonder, can't keep tanking every day like this....

[pbanus] 26/11/2018 12:49

if Chelverton thought this one was going to be 10p per share as suggested by savvybishop, they wouldn't be winding the fund up

[maybesum] 26/11/2018 12:34

Not looking good at all... people getting out while they still can......

[pbanus] 26/11/2018 12:25

Latest Chelverton Annual Report to 31st Aug 2018 should be out any day now. Watch this space. They owned around 3% of PPG.

[pbanus] 26/11/2018 11:58

Chelverton made some poor investments in illiquid stocks as Rhug mentions they'll be looking for an exit from PPG. Can only see a glut of shares on the market, particularly given the deceased director holding. Wonder how low this one will go? 0.25p?? Can't see any hope of funding now.

[rhug1966] 26/11/2018 09:04

Looks like Chelverton will be selling up soon. See news extract.

CHELVERTON GROWTH TRUST PLANS TO WIND DOWN AS NET ASSET VALUE FALLS

[ 14 Nov 2018 17:30 ]
LONDON (Alliance News) - Chelverton Growth Trust PLC on Wednesday announced plans to wind up the company after posting a substantial drop in net asset value in its most recent year.

As at August 31, Chelverton's net asset value per share stood at 60.48 pence, a 29% decline from 85.63p per share reported the year before, as a result of a drop in the value of its investments.

Meanwhile, the micro-cap investor's benchmark, the MSCI Small Cap UK Index, increased 7.2%

The most significant decline was seen in the trust's software firm Touchstar Group LLC holding, which diminished in value to GBP374,000 and represented 11% of its portfolio. This compares to a GBP621,000 valuation when it represented 14.7% of the portfolio last year.

Furthermore, shares in IT service management company Universe Group PLC, which constitutes 0.9% of the trust's portfolio, fell by around 9.5p to 3.85p over the year after a potential new client went into administration.

Chelverton's Universe holding was valued at GBP31,000 at the end of August, compared to GBP61,000 the year before when Universe represented 1.4% of its portfolio.

The most significant event during the year for Chelverton was the takeover of Lombard Risk management, in which it held a 7.7% stake, via a recommended cash offer of 13p per share.

Net asset value reduction, coupled with tender offers that reduced the company's size, have negatively impacted Chelverton's expense ratio. This has ultimately led the board to outline its strategy for winding down, a process that is expected to take up to two years.

Chelverton said it will realise its AIM-traded shares as and when their liquidity is restored, using the proceeds to settle liabilities and then to return value to shareholders. Depending on the value of any remaining illiquid assets, Chelverton will examine "the most tax efficient manner" of returning value.

A continuation vote is not expected to occur in 2020.

"There are currently significant macroeconomic headwinds including the tortuous path to a Brexit deal," said Chelverton Chairman Kevin Allen.

"However, the companies in the portfolio have generally made progress over the past year and we hope, and expect, that the investment and development that has taken place in the past few years within the investee companies will bear fruit over the forthcoming period," Allen added.

Shares in Chelverton were untraded on Wednesday at 55.50p.

[maybesum] 23/11/2018 20:56

I million sell at 0.50 late this afternoon.......investors heading for the exit.

[pbanus] 22/11/2018 22:48

either that marvin or he's on shrooms...haha

[bishopawn] 22/11/2018 21:32

Trades 2 and 3 were buys.

[pbanus] 22/11/2018 10:51

Monty, you've been cheerleading this all the way down from 2.5p to 0.5p, can we therefore assume your optimism is complete bluster and unreliable....toot toot?! You boys on the other thread were talking about 10p target price not long ago....WAKE UP!!!