communication is the key. they could have been tied up prior to...

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13/04/23

10:51

Post #: 67252087
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Originally posted by camban: ↑

You’re welcome. It is well & good for some to just breeze over all of this detail, but given that PRL’s suspension is set to cross over into a new financial year it is important for me (and I suspect many others) to know where we stand with our capital invested here and what this re-compliance actually entails. PRL is unlikely to tell us - they’ve not even bothered to put out an investor newsletter to add necessary colour or settle concerns post-Total except to spin a partnership with a supermajor falling over as some sort of hollow victory. Why start now with something as meaningless as core governance and regulatory compliance?(!)

Us as mushrooms is a good analogy. I’m an investor not a charity with a ten year window to see some satisfactory capital growth, so I am going to slam them in their next remuneration report vote too after seeing the auditors make special mention of it last time around. One positive about the re-compliance process is that ASX runs the ruler over all existing performance-related incentives, insider options & rights, and escrow restrictions, with a fresh set of eyes. Next Investors is probably in the line of sight too given their equity payments received for “marketing services”, prior share sales (at around the same time chairman Pat Burke was offloading 6.6m shares at a 17.5c pump) and their large remaining holding.

For anyone still confused after reading the Guidance Note about the “proposed acquisition” language of the original suspension announcement, imo this is clearly the Ozexco transaction all those years ago. PRL acquired Ozexco Pty Ltd which gave us the HyEnergy project which is now the company’s main undertaking (despite not being materially much different now to then, except for some further studies completed or still underway and a few understandings reached with locals). After this acquisition the company has not sought to re-comply as an energy developer, so ASX is now making it.

Good luck to all of us, and to the company in getting this re-compliance carefully done. It is important imo to look at the facts from all sides not just get caught up in hydrogen hype and blasé optimism.

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communication is the key. they could have been tied up prior to March, I hope atleast now, while work is going to happen in the background, the investors are informed about updates despite in suspension.

17th April is approaching too..

PRL Price at posting: 4.1¢ Sentiment: Hold Disclosure: Held
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