UK 15:31 Monday, 26 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Last week PeerTV (PTV) – IPO’d at 45p a share four years ago now 0.02p – accepted that four shareholders had the right to stand for election to its board at an EGM on Monday. Today shareholders were told that they no longer had the right to decide who runs the company they own. AIM has allowed PeerTV to execute shareholder democracy. It has sent a message to all investors – FUCK YOU: the crony capitalists run the show.
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Comments
Woody44
I have never seen such garbage as the excuse about protecting shareholder interests. However, whilst this does AIM no credit, it sounds like it is a legal issue rather than an AIM issue. Shareholder requisitions, general meeting voting and directors’ fiduciary duty are all legal matters determined by the jurisdiction of the company’s incorporation together with its Mem & Arts. AIM Regulations have no power to step in and force these matters. I’m not saying the legal advice is correct, or that the board are anything other than total c****s, but if AIM starts wading into corporate law matters, then they are overstepping their remit.
The Nomad should have written into its Nomad agreement with the company that the company must abide by all relevant law and regulations but if there is legal advice stating that the company is acting in accordance with the law, the Nomad would be in a vulnerable position if it used this as a reason for cancelling the Nomad agreement. Also, can you really see ZAI actually doing this and lose £40k of revenue!? ZAI should no doubt take a stronger line with the company but I can’t see how the regulator can step in.
Mr WTF
http://www.moneyam.com/shareprice/PTV
“PeerTV enables broadcasters and content service providers, to deliver diverse and highly personalised content through live TV and Video on Demand services to their consumers worldwide. The Group specialise in supplying niche content to specific communities of interest, those of a particular demographic, common-interest, language, or religion, around the globe. This is known as ‘narrowcasting’. PeerTV does this through developing and marketing a revolutionary line of Internet TV set top boxes called PeerStations and the appropriate software. PeerTV’s solution has been in market since 2007 and through its customers, now reaches over 100,000 consumers world-wide. PeerTV’s solution has become a premier choice for TV broadcasters wanting to deliver content to a global consumer base. PeerTV Plc is incorporated in England and Wales. Its principal operating subsidiary is based Herzlyia in the State of Israel.”
http://peertv.com.agate.in/wp-peer/?page_id=405
“Peer TV Plc is a holding company with two subsidiaries: PeerTV Ltd (“PTV”) and Digitek Holdings Ltd , (70% owned) (“Digitek”), both of which are located in Israel. In turn Digitek has two active subsidiaries: SM Digitek (1993) Limited and Digitek SMT Assemblies Limited.
The business activities are as follows:
a) PTV develops and markets Smart TV solutions including a complete line of hardware and software solutions from innovative Set-top-Boxes (“STBs”) to device and content management software for the Internet TV market.
b) The Digitek companies are engaged in the assembly of electronic products and components and the associated sourcing and logistics for companies principally engaged in the hi-tech and telecommunications industries in Israel.
There have been synergies of production management, supply chain logistics, management and finance between the two businesses and the Board continues to believe that there will be continued scope for collaboration between the two businesses.”
http://www.moneyam.com/action/news/showArticle?id=5144425
…. They design and programme their own set top boxes for distribution in to a niche market and have them built in their own plant….
This is not an investment. It is a charity looking for donations.