Powerhouse Energy Share Discussion Threads

[supernumerary] 20/10/2016 22:52

dolphin - indeed so, but on the other hand if he simply called the loan, phe couldn't pay, would go into administration, and the whole lot would go to Hillgrove as the lead debtor. Heads he wins, tails you lose.

[dolphin158] 20/10/2016 20:30

If had to bid would it not be at 0.5p per share being the conversion?

[supernumerary] 20/10/2016 11:02

First of all he does own indirectly a majority - the loan is where the indirection comes in.

Secondly, the threat to convert (or withhold further financial support) is enough, as the last share grab proved.

[supernumerary] 20/10/2016 00:55

Sure, but that's not hard when he owns, directly or indirectly, a majority of the shares.

Given proper corporate governance there would have had to be a motion for disapplication of preemption rights, but Bond's control is indirect so he can and does ride roughshod over the rights of minority shareholders.

[supernumerary] 19/10/2016 20:04

So what part of it is not true?

[supernumerary] 19/10/2016 18:32

sleveen - that means nothing. Bond has already unilaterally changed the rules once, by doubling the number of shares he gets for his loan. He can do it again by changing the 8 months to some other figure, shorter or longer, if he so chooses. No agreement with Hillgrove is worth the paper it's written on, as long as the company is Bond's plaything.

[sleveen] 19/10/2016 17:13

4.1. Hillgrove Loan

Hillgrove Investments Pty Limited (“Hillgrove221;) has provided the PowerHouse Energy Group plc with a convertible loan agreement amounting to $4,680,012 – which can be increased at Hillgrove’s option. The loan is secured by a debenture over the assets of the company and carries interest of 15 per cent per annum.

Hillgrove have provided a letter of support indicating they will not call the “note” for a period of at least 12 months following the publication of the 2015 Financial Statements for the year ended 31 December 2015, this date being 30 June, 2017



Minimum of 8 months $4.6m loan becomes payable.

[warwick69] 19/10/2016 13:10

Jaknife in your opinion of course it's not fact that it's uninvestable

I don't think all the loan will be converted just sufficient to take Peter Bond and Hillgrove to 29.99% is all that will get converted circa 250 million shares so not an issue and he will then be aligned with shareholders and this will be done when the business is on a sure footing with a good order book behind it

That's my opinion so we have differing opinions but I don't post as though everything is fact as you seem to you are so arrogant and sanctimonious what makes you the great all knowing

[alphapig] 19/10/2016 11:48

Looks like a slow burner.Good luck here, dropped 10% on little volume.

[the stigologist] 19/10/2016 11:37

Looks like Longs 'profits' are being 'gasified' (not burnt because no oxygen involved)

[the stigologist] 19/10/2016 11:36

watching and learning

[warwick69] 18/10/2016 22:02

Well said Jammo but be careful jaknife is all knowing he is the ultimate sage and font of all knowledge nobody knows anywhere near as much as he does it's all been foretold in the annuls of history you are not allowed to doubt the mighty JAKNIFE woh forbid You will be sought out for all time by the followers !!!!

[warwick69] 18/10/2016 13:09

Oh hello matey watch and learn