| PHOTO-ME RNS 28/07/2022

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28th Jul '22 by WarrantStar

7 comments 723 reads

RNS this morning "Photo-Me International plc (PHTM.L), the instant-service equipment group, announces that in accordance with LR 9.2.2AD R it has entered into a relationship agreement with Tibergest PTE Ltd ("Tibergest"), a company owned and controlled by Mr Serge Crasnianski, CEO and Deputy Chairman of Photo-Me." This is the vehicle that Mr. Crasnianski previously tried to take Photo-me private by offering a share price that the market deemed to be too low. I can't see anywhere what the relationship agreement contains. The share price is up 5% today. Is it possible for share holders to demand to see the relationship agreement?

Does anyone have any ideas what Mr Crasnianski is up to?

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About the Author

WarrantStar

Premium Member

I am a keen & experienced investor. I love my spread sheets, and like to think that I know what I am doing. I wouldn't be offended to be described as a bit geeky. Mostly I do well, but I always strive to do better. Married male. Born 1957 England. Good career in industry for 35 years. Been successfully investing for about 30 years. I chose to retire from salaried employment at age 57 to look after my investments. I consider myself to be quite analytical / logical / mathematical, but also take into account how the world is likely to change & how people behave. I always follow my processes before taking action. more »

7 comments

Verbier93

28th Jul '22

Hi,

This would appear to be a listing regulation. Below is a copy of the regulation taken from the FSA web site

LR 9.2.2ADR01/01/2018RP

Where a listed company has a controlling shareholder, it must have in place at all times:

(1)
a written and legally binding agreement which is intended to ensure that the controlling shareholder complies with the undertakings in LR 6.5.4R; and
(2)
a constitution that allows the election and re-election of independent directors to be conducted in accordance with LR 9.2.2ER and LR 9.2.2FR (election provisions

WarrantStar

28th Jul '22

I have just emailed Photo-Me and asked them to email me a copy of the relationship agreement. I will post on here if I get a reply.

WarrantStar

28th Jul '22

Thank you for your reply. Maybe I will eventually figure out whether the RNS is good, bad or indifferent.

WarrantStar

28th Jul '22

I have had a reply from PHOTO-ME Investor Relations.

They don't want to tell me anything about the relationship agreement.

Rusty2

3rd Aug '22

I see Photo-me have changed their name, no wonder I could not find it on my platform yesterday.

TrickyRicky75

3rd Aug '22

Had a reply from Ed earlier, to say this should be resolved later this morning - we're waiting for the quotes to pull through.

Rusty2

3rd Aug '22

Thanks, it was not really Stockopedia but my trading platform , thought it was excluded for some reason.
Stockopedia quotes now working but the other information all blank.

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PHOTO-ME RNS 28/07/2022

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WarrantStar

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