Pineapple Power Corporation
PNPL · Main Market · Financial Services · mcap £5.0m · 0.8p 2 open situations →
- EV
- £1.5m
- EV / EBIT
- –
- Net debt
- £18k
- FCF yield
- -2.2%
- Revenue
- –
- Share price 1y
- −70%
- Insiders 12m
- no deals
- Next report
- around 20 Oct
Open · 2
Reverse takeover search
Follows from Going concern and funding – Loan notes funding creditors; more equity needed
The Buffalo Battery Metals all-share acquisition was terminated on 4 September 2025. Under Adam Park (joined 11 February 2026) the company is examining RTO candidates. The 21 October 2026 interims made lifting the April 2023 suspension the priority. On 22 October 2026 Chairman Claudio Morandi resigned and Park became Executive Chairman.
- Terminated deal
- Buffalo Battery Metals all-share acquisition terminated 4 September 2025 22 Oct 2026 ↗
- Stage
- Potential RTO candidates being examined 22 Oct 2026 ↗
- Suspension
- Shares suspended on the Main Market since April 2023; remaining steps to lift it still to complete 22 Oct 2026 ↗
- Target timing
- Transaction in late 2026 22 Oct 2026 ↗
- Strategy
- Acquire a controlling interest in a company or business by reverse takeover 21 Oct 2026 ↗
- Funding
- Board expects to raise further equity funding to support this 22 Oct 2026 ↗
Next: Complete steps to lift suspension, then pursue RTO target
- 22 Oct 2026 RTO candidates under review; Executive Chairman now Adam Park
- 21 Oct 2026 Seeking suspension lift, then RTO target
- 21 Oct 2026 Screening RTO candidates; suspension talks with FCA
Going concern and funding
Led to Reverse takeover search – RTO candidates under review; Executive Chairman now Adam Park
The 2025 accounts carry a material uncertainty on going concern. £318k of convertible loan notes raised in June 2026 are settling creditors. Interims at 30 June 2026 show cash of £300,014 and net liabilities of £511,465. £244k converted into 97.6m shares, leaving £74k, and a creditor dispute with two former consultants continues.
- Converted
- £244,000 into ordinary shares, Sept/Oct 2026 21 Oct 2026 ↗
- Unconverted
- £74,000, all held by William Potts 21 Oct 2026 ↗
- Forecast period
- Cash flow forecasts to 29 February 2028 21 Oct 2026 ↗
- Loan notes
- £318,000 in issue at 30 June 2026: £300,000 cash and £18,000 settling bridging loans 21 Oct 2026 ↗
- Conversion
- £244,000 converted into 97,600,000 new ordinary shares; £74,000 outstanding 21 Oct 2026 ↗
- Cash
- £300,014 at 30 June 2026 21 Oct 2026 ↗
Next: Raise further equity funding
- 21 Oct 2026 Loan notes funding creditors; more equity needed
- 21 Oct 2026 Material uncertainty; funded by £318k loan notes
Company filings. Not investment advice.