PPN - Planet Platinum

[Kremmen]

After a significant amount of company buy-back activity, PPN has been rising steadily over the last 2 months. (... except for the last few weeks, while suspended.) It's now at its highest point in about 4 years.

(I'm rather amazed that there was no thread on this stock already.)

 

[Kremmen]

While the market tanked yesterday -- what's going on there? The US market is up and we usually follow them -- PPN rose 7% to 21.5c.

 

[Kremmen]

After prices being pushed up by company buy-back (Trimble's company now owning over 80% of PPN), announcement of 2c div has pushed them even higher.

Does anyone else here hold them, or is it just me?

 

[Kremmen]

Last year's buy-back ran out and a new buy-back is in place. The most the buy-back has paid was 22c/share, while someone paid up to 30c. This was almost certainly a poor investment, as the buy-back is the only major generator of volume in this stock.

 

[roland]

After prices being pushed up by company buy-back (Trimble's company now owning over 80% of PPN), announcement of 2c div has pushed them even higher.

Does anyone else here hold them, or is it just me?

Hey Kremmen - I get lonely on a few of my holdings as well - have less arguments this way though

Good luck with your holdings

 

[Kremmen]

Good luck with your holdings

True. No arguments in this thread!

I don't need any luck on this little earner. My average buy price has been around 13c, over a few years, so the buy-back has been excellent.

I've mainly posted here in case anyone comes along and thinks about buying them. The chart looks good, but this is a time when charts can be misleading.

PPN trades very little and it seems likely that Trimble is mopping up all the available shares so as to avoid paying back his debt to the company. A number of the largest shareholders have sold all or most of their shares. The share price is basically determined by how much the company is willing and able to pay to buy its shares back. If that goes away, the bottom falls out of the market.

The other matter is that if/when Trimble proceeds to compulsory acquisition, it's hard to know what price that might put on the shares.

 

[Kremmen]

3.977c fully franked dividend to be paid 21/12. (Shares trade ex div from 8/12)

SP up over 40% since last week.

 

[System]

On March 9th, 2016, Planet Platinum Limited (PPN) was removed from the ASX's official list pursuant to Listing Rule 17.12.