Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Just over 20% of Wittington Investments is owned by the Weston family.
54.5% of ABF is owned by Wittington Investments - £15 million is a drop
In the ocean in the context of his total holding.
ABF is valued at over £17 bn.
With respect, you sound out of your depth on ABF,
perhaps smaller companies and cakes are more your area,
Good fortune.
IF PFD hits +110 at results time I will eat my hat & off course sell my holding.
That snippet of info on ABF was intended for Kall as he recently posted
on the ABF board and may not understand the ownership structure
of ABF.
I've taken two recent bites of PFD, as previously mentioned.
I am loving the daily rise, long may it continue, for us shareholderd the divident payment option will attract institutional investors who are looking for an income as well as capital growth. Years of ups and downs, this is all good. The boost in profits due to increased home food buying will continue for months to come. Annual vaccinations and changes to covid strains will change peoples habits potentially long term. PFD are in a fantastic place to benefit further. Agree that this has a lot further to go, waiting for the rating agencies and trading update. Bloody love this share. Lloyd grossman half price at asda, all helps i suppose. Good luck all, 1.20 by next friday at least
Fatprofits
That’s an interesting bit of info on ABF.....do you think that is has any bearing on PFD or is it just an interesting bit of info on ABF ?
And that one in 100 year event will hopefully be history within
12 months - or an endemic coronavirus .
So that large tailwind tapers.
Off topic - on ABF, over 54% of the equity is owned by Wittington Investments,
which is majority controlled by the Garfield Weston Foundation - a family founded
charity foundation.
Thats what I did the day of last update ! Sold the lot of my PFD holding then bought back in when it dropped to silly price. Funny how my worst investment turned into one of best performer of 2020 ! It just nipped boo ! but both reporting in the next week or two & expecting big things from both. good luck chaps
I'm expecting 120p on or before results day...
Yes some may take profit on Q3 results day, leading to share price slipping a bit - but then broker upgrades should see price stabilise and then move on upwards. I'm anticipating broker upgrades target 140-150p.
Lets see!
Good luck all holders
Rich
Yes, if there is a decent increase before the update I might sell a wedge the day before. Threatened to do it before but never had the guts.......guess what will happen if I do it this time ?
Fair enough and I agree everything is looking great. But do you remember each of the day's the updates were announced, the so dropped?
I prefer more brands investments to boost sales & get debt down further. A signal to seek growth outside organic sales like buy another good fit company or form partnership sales agreements will be good look. Maybe Divi payout after is icing on cake. Then but I’m just a small PI investor. The bigger investors generally do like an income stream of Divi’s.
Rich62: Absolutely Agree ! PFD Q3 Sales should outperform general retailer sales. As mostly winter mix products but loyal brands following & lockdowns pushing up sales. As Kal said 4 x Xmas sales in 1 year ! Share price should shoot higher on future house broker upgrades & more PFD news flow.
Im not sure this is a tidy up exercise in the current climate. They have a huge amount of extra work going on due to Brexit and covid. It does appear to be far fetched but could this be lining up dividend pay outs for this year?
Recent supermarket results (excluding fuel sales):
Sainsbury 15 weeks to 2/1/21 - Grocery sales up 7.4%
Morrisons - Q3 Aug - 1st Nov = L4L Sales up 7.1%
Q4 to date, which covers Xmas period - L4L sales up 8.0%
Tesco results should be out tomorrow....
From these, I'd expect Premier Foods Q3 to be more than 8% (bearing in mind PFD is more focused on "winter mix" product and also with the 2nd lockdown period and people stocking up again on dried goods)
Just my view for what its worth!
Rich
Wonder if RNS Xmas Sales update next week? They did before with record mince pie sales. Any good news improves shares sentiment. They got huge cash flows & I bet big investors will pass Monday Capital Reduction resolution . This news flow likely to edge up share price more. Although we may know about this resolution. Share price will shoot up with good news flow. That’s what is lacking at the moment.
Kallumama, I believe the answers are:
1. No impact
2. No impact
3. This is really just a tidying up exercise and not a big deal. The point of doing it now is so that if the board decide at some point in the future to pay a dividend, they can do so quickly without having to go through this process. It's just something to get out of the way.
voted !
Jed, Kal, Rich62 - I think each to their own. Some are share traders, some are keepers. I personally do both. Jed, I sold a chunk at £1.06 last time & bought back sub £1. Kal, I took the bet like you today but no way of knowing if that's the right thing to do. As Rich62 says £1.20 soon but not sure when. Monday's general meeting may have little effect on share price as Cat is out of the bag & no real surprise what the BOD want to do.
Agree that most PI's won't read the detail - however I've read it today so that I understand..
PFD has made massive steps from being a zombie company with huge debtl
A) Pension restructuring
B) Good results (especially with CV19 uplift in sales)
C) Good cost control and debt repayment
I trust the BOD now to do the right thing for the business to get debt lower and share price re-rated. Personally not bothered with dividend, I'd rather debt reduced further / invest in brands etc to increase sales further.
It feels like we have made real progress in the last year and I see the vote, the next step up.
Rich
MY predictions ..
- Will break year high share price of 110p, if vote is approved at Monday's General Meeting..
- Rush to 120p+ share price on excellent Q3 results stated in RNS on Monday 19th January, to include more plans for debt reduction
Re-rating and broker upgrades to 140p+
Rich
Kall, you are of cause 100% right and I agree with you, I have been trading / investing/ gambling for some 35-40 years and in that time I have bought and held for years and then found to my mistake that I have lost out, I have also tried day / week trading and won and lost out/ we all know that what ever we do is never going to be 100% correct.
I few weeks ago I said if this gets to £1.06 -£1.10 I will sell and buy back when it falls but didn't and sod's law it went back to 99p, so today I have just sold lots at £1.06 on the bet / hope it will fall again but you know what's going to happen now don't you. more profit for all those that have held.Still it's better to keep making a few hundred/ thousand every time rather than waiting for that very big win that never seems to come along.
Rich. sounds good idea overall but companies, like politicians, are good at highlighting the positive and eliminating the negative. Without wishing to be condescending to PIs, I suspect many will have only read the word "dividends " in the RNS.
Has seen a good rise today so are we going to see some profit taking after lunch and the sp going back down a little to say 101,
or is it going to carry on going up to the vote.?
I've just voted for the proposal to approve a capital reduction.
- This is recommended by the Board.
Proposal is to use the £1,409.8m positive balance in the Company's share premium account and transfer to the P+L account. This will eliminate the P+L deficit, creating additional distributable reserves for the company.
There is no dilution in the number of shares or any new shares to be issued.
As the share premium account is an "undistributable reserve", the purposes for which it can be used are extremely restricted hence the need for a vote.
The vote requires 75% of All shares held to vote for the proposal to get it passed. SO EVERY VOTE COUNTS!!!
The deadline for this vote is SAT 9 JAN AT 11AM
Gen Meeting to review results / proposal is on Monday 11 Jan and if vote succeeds, PFD will need to prove to the courts that there is no increased risk for creditors etc. A court hearing is pencilled in for 9 Feb.
Personally I'm happy for this change, hence my vote. PFD have made major strides in improving results and in particular reducing debt in last year and this next step, can only be the right thing to do IMO to get share re-rated and potential for dividend....
Rich
Are they completely out or just hold less then 10% thus no longer have a seat at the table. Also who acquired all those shares oasis and Paulson gave up few weeks ago. Was it another institute or PI’s.