PME African Infrastructure Opportunities (PMEA)

Sector:

Financials

$ 0.05
   
  • Change Today:
    $0.00
  • 52 Week High: $0.1
  • 52 Week Low: $0.0
  • Currency: US Dollars
  • Shares Issued: 76.75m
  • Volume: 0
  • Market Cap: $3.45m
  • RiskGrade: 282

PME Africa winds itself up, shares rocket

Date: Wednesday 26 Sep 2012

LONDON (ShareCast) - Investment firm PME Africa Infrastructure is winding itself up following five years of disappointing performance.

The group, which invested in telecommunications in Tanzania and Uganda, found competition in the market too hot to handle and so has now exited the business.

The remaining assets are 12 locomotives in South Africa which are mainly leased to the resources industry. It also owns some commercial premises in Dar-es-Salaam, Tanzania.

The idea is to buy back 30% of the outstanding shares using spare cash of around $13m. That makes each share worth around $0.4, the same as the net asset value per share at the end of June.

The next phase will be to flog the locomotives and buy shareholders' remaining stocks with the proceeds.

PME has decided to manage the winding up process itself instead of using a third party manager, as a result of which the Chairman, David von Simson, and two directors, Lawrence Kearns and Paul Macdonald, will see their salaries increased from £30-35,000 to £75,000.

The stock rose 190% to 0.31p by 10:59. Since 2007 the stock has fallen in value by 71%.

BS

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

PMEA Market Data

Currency US Dollars
Share Price $ 0.05
Change Today $ 0.00
% Change 0.00 %
52 Week High $0.1
52 Week Low $0.0
Volume 0
Shares Issued 76.75m
Market Cap $3.45m
RiskGrade 282

PMEA Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
34.62% above the market average34.62% above the market average34.62% above the market average34.62% above the market average34.62% above the market average
Sector averageSector averageSector averageSector averageSector average
Price Trend
86.97% below the market average86.97% below the market average86.97% below the market average86.97% below the market average86.97% below the market average
97.26% below the sector average97.26% below the sector average97.26% below the sector average97.26% below the sector average97.26% below the sector average
Income Not Available
Growth Not Available

PMEA Dividends

No dividends found

Trades for --2020

Time Volume / Share Price
0 @ $0.00

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