Powerhouse Energy Share Discussion Threads

[supernumerary] 03/8/2018 12:14

nelson - thanks - I'd forgotten the recent AGM, which basically restarts the clock. 35% - that's a lot - usually only 15%. bobby - I suggest you look up what 'disapplication of preemption rights' means - it's not for the benefit of existing holders I'm afraid.

But for the next confetti distribution they'll need either to increase the share price by about 100% or do a consolidation. Anybody's guess which of those is the more likely ;¬)

[bobbyb4] 03/8/2018 12:03

Apparently board being overly cautious !!

[vatnabrekk] 03/8/2018 12:03

Please explain, Mert. Why dodgy?

[mertymcs] 03/8/2018 11:57

Issuing dodgy shares

[nelson5100] 03/8/2018 11:47

Premption rights covered by resolution 7 and passed at the recent AGM.

esolution 7: a special resolution to dis-apply the statutory pre-emption rights of
Shareholders in order to authorise the Directors to allot ordinary shares for cash either by
way of rights issue or without first having to offer them to the Company’s existing
Shareholders, provided such latter authority is limited to a maximum nominal amount of
£2,713,292 (representing approximately 35% of the issued ordinary share capital of the
Company) less the aggregate nominal amount of any securities issued by way of rights.

[nelson5100] 03/8/2018 11:43

Is that on a RNS ?
RNS are for market sensitive disclosures?

[vatnabrekk] 03/8/2018 11:25

@super: I've no idea (without doing research) but I should think that authorisation could always be increased, if necessary, by calling a GM.

[vatnabrekk] 03/8/2018 11:23

@bobby: Didn't KA say build time for the unit was 12 months? Are you saying that that has now reduced to 6-9 months?

[supernumerary] 03/8/2018 11:21

I thought they'd exhausted their right to issue shares? How many are left?

[bobbyb4] 03/8/2018 11:13

Well I've just been told 6 to 9 months is lead time for plant from order And they are in discussions So nothing has really changed I expect all interested parties waiting for EPC and third party verification The fat lady certainly hasn't started singing Markets may just get a big surprise soon enough

[vatnabrekk] 03/8/2018 11:12

"in the unlikely event that someone wanted to convert, I've no idea how phe would satisfy them with no shares in treasury"

They don't need shares in treasury to do that, they just issue new shares. the number of shares to be issued depends upon the agreed value per share.

[supernumerary] 03/8/2018 11:03

vatna - they've already started down that slope. Remember the warrants? That's effectively just a free option to investors in the last placing round. Not sure what they're worth, although it could easily be calculated using Black-Scholes if you were so inclined, but not nothing that's for sure. The existence of the warrants will also provide a backstop for any holder who might want to short the shares in the future.

I don't remember seeing any time constraints on the warrants (nor any forced conversion clause, although that would be normal) so in the unlikely event that someone wanted to convert, I've no idea how phe would satisfy them with no shares in treasury. Buy some in the open market?

I assume that at the next AGM they'll do a reverse split - 100:1? - to make the problem go away. It's certainly going to have to come sooner or later, unless they just go bust first.

[lagosboy] 03/8/2018 10:51

Agreed - rubbish company in the rubbish business or not as the case may be

[oldbronze] 03/8/2018 10:44

Rubbish !!!!

[nelson5100] 03/8/2018 10:20

How much were the 90,932,961 shares issued to Renewme Limited issued at?

The financial statements list the issue prices for all the other placings except that one transaction.

[vatnabrekk] 03/8/2018 09:38

As lagosboy says, PHE cannot do a placing below 0.5p because that is the nominal value of the shares.

So to do that, they would need to undertake a restructuring of the shares to reduce the nominal value to say 0.3 or 0.25p. Not a good idea.

Or, they could do what I have seen other companies do, which is to do the placing with an institution or broker at 0.5p, and then to pay a fee to that institution or broker equivalent of say 0.2p or 0.25p, whatever, which would have the effect of bringing the net cost of the placing down to 0.3p or 0.25p, or whatever.

It's not ideal, not to be advised, and dilutes existing shareholders, but it can be done if you can find an institution or broker willing to cooperate.

Then you are really starting on a slippery slope.

[lagosboy] 03/8/2018 09:37

A Placing is currently out of the question. Illegal to issue shares at below their nominal value (0.5p), so a capital reorganisation which requires shareholder approval would need to be put in place.


Some people simply cannot accept that the CEO's are complicit in any Placing to cover an MM's naked short. To suggest otherwise is just down right naïve.

Desperate tiddlers like Phe have been fair game on AIM for many years and will continue to be so. Surely you have noticed that KA does share tip sites round before a Placing is announced- coincidence or not - make up your own mind.

[mertymcs] 03/8/2018 09:24

If that is the case then yes, in the next month or 2 we should get a placing rns if this holds true.With details saying we needed the money to fund the initial stages of the commercial unit blah blah blah.Unfortunately the CEO has no balls to say no to the money offered.I mean it's a bit suspicious when a MM out of the blue offers you money without you going to the market looking for it.They know these are at a stage where the commercial unit is looking to be built so putting 2 and 2 together it doesn't take a genius to figure out they need money.

[pazzuzu] 02/8/2018 16:32

Dropping into the 20's next week then by the looks of it.

[mertymcs] 02/8/2018 16:11

That's an almighty dump, I am now struggling to see how it can break free from this fall in sp

[lagosboy] 02/8/2018 11:42

I said the first Port of Call should be KA to alert him of your concerns.

I am not expecting anything of the MM's or indeed the broker - at this stage there is nothing to support the claim, just speculation. If the MM has done nothing wrong they should be quite willing to provide evidence/records supporting this to the FCA.

Before making accusations to the FCA and accusing the MM's of foul play on public BB's one should have some evidence or you may well find yourself being sued for making false accusations.

Wazza shouts long and hard, normally following collapses in the share price but as yet has no evidence on which to base his claims.

When all is said and done, the share price collapse is really due the woeful performance of Phe.

[lagosboy] 02/8/2018 11:42

I said the first Port of Call should be KA to alert him of your concerns.

I am not expecting anything of the MM's or indeed the broker - at this stage there is nothing to support the claim, just speculation. If the MM has done nothing wrong they should be quite willing to provide evidence/records supporting this to the FCA.

Before making accusations to the FCA and accusing the MM's of foul play on public BB's one should have some evidence or you may well find yourself being sued for making false accusations.

Wazza shouts long and hard, normally following collapses in the share price but as yet has no evidence on which to base his claims.

When all is said and done, the share price collapse is really due the woeful performance of Phe.

[mertymcs] 02/8/2018 11:01

So your saying go direct to the MM and ask them of they have undertaken illegal activity and then covered their tracks.How many are going to stand their and hold their hands up and say you've got me there, yes we have.Not one of them, and how do you think KA will even know the MM were naked shorting?You dont know of they were looking for money at the time and this came out of thin air at the right time.