Today I chat to Nick Lee (Chairman) of Paternoster Resources, PRS holds a significant position in Plutus PowerGen (LON:PPG) who today have announced an exclusive agreement with Rockpool Inv. LLP for non-assets finance investment of £34 million clearly Paternosters entry into Plutus has been significantly de-risked as the shares change hands at x 4 higher at 1p+. Nick appeared relaxed in chatting about his once basket of shell companies that are now bearing fruits in the small cap markets. If Nick and Paternoster are to be believed by its current run of form then these deals are likely to be replicated.
It wasn’t on the agenda but I get a striking opinion that Matt has been brought on board to help manage deal flow and investors whilst Nick quietly squirrels away reforming broken exteriors on struggling companies as he spearheads further rescue’s which by virtue reward PRS shareholders, the balance looks to be there now so we wait with baited breath.
- MXO, PPG & MTR all doing extremely well.
- NAPP deal rumoured to be completing which allows PRS to receive further from the deal.
- Board of directors expansion – fortifying financial position in wake of deal flow one expects from a depressed market.
- Regular updates quarterly as well as tighter focus on affiliated releases from partnering businesses.