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I was following the last few days posts as I always do. I was keep hesitating to sell or keep holding… , and then this small new contract came up this morning.
I still believe that it’s just the question of time. It might will take long time, but I would not suppose they will leave a company to go bankrupt with a massive order books and contracts. It’s a nasty piece of share, but even if it’ll be years, I believe brighter days will come and we won’t regret being patient this time. All the best LTH’s
They refer to rights issues or share offerings that are available at a discount to existing shareholders.
Thanks
Have you ever come across the announcements along the lines of - the offer / discount price is x times, x % of the share price on dd.mm.yy"
“dont be ridiculous”
Look in the mirror mate. I guess if you want to be rude you’re good at that but it’s not our fault you’re skint so don’t take it out on everyone else.
" These questions are putting people off buying at this price."
It is comical that some of you seem to want to be spoon fed all "the answers" and yet still have a very low share price with which to buy the shares
Fantasy thinking in full swing this morning
"Suppressing the share price so that PFC can be bought/ taken over on the cheap ? "
dont be ridiculous
You dont value a company based on some traders moving a share price up and down ...
there is some fantasy thinking going on here ....
It will be a mix of solutions. I agree that once it is done it will improve.
PFC is not going bust, but it will be diluted for D4E, the question is at what price and how much debt will be converted. These questions are putting people off buying at this price. I will be waiting for the news to buy more and I do think PFC has a bright future once they sort out their finance in the long term.
Sorry, I meant you have no idea what the NAV is. The share price is obviously being manipulated.
Pokerchips - Suppressing the share price so that PFC can be bought/ taken over on the cheap ?
" We have no idea what the NAV is "
well if so, then you haven't been following the data given....
We have no idea what the NAV is or what the priority is The Fitch downgrade is premises on the idea D4E is a done deal.
Petrofac have to asset strip to pay off debt as well as shave the bondholders and the BOD have to be very careful in the glaringly obvious game they are playing, especially given the criminal back story - which is why they are where they are of course. A mix of solutions is likely and in the medium term will significantly increase the value of the business, but only if the business they are getting is more than chasing turnover. D4E is not enough on its own. But receivership means no one gets paid.
Yeah, I mean a company is going to waste their time piecing together a deal together for the past however many months, to the tune of 100k + (corporate lawyers fee's etc), to gift 350mil to a company that's supposedly going bust. The oil game doesn't work like that fella
If petrofacs circumstances were that terrible, not a single OnG comp would waste their time with them and risk losing millions as a consequence. Especially when there's numerous other service companies whose services they could acquire
"The BOD have a duty to shareholders"
You need to understand that the BOD has a duty to STAKEHOLDERS , of which the shareholders are but one ...
and..the shareholders are currently at the bottom of the list in terms of having any stake in the business right now....
the NAV is next to nothing ... all the lenders have priority in terms of receiving anything from asset sales or in terms of resolving the issues regarding repayment of debt or payment of interest/coupon..
Any D4E is a form of debt default which Fitch referred to and as such downgraded the risk as such , as appropriate in such circumstances ...any future lenders being aware of the company debt history if such a debt default were to occur
There is some notion here that shareholders ( esp PI) should somehow be spoon fed above that of bondholders, bank lenders, business creditors, employees or anyone else
All this talk of " wanting the share price down" is utter nonsense ...... any D4E share price base will be given to the BOD ..it will not be for the BOD to go around expecting some price or other ...
This contract win still needs performance guarantees, with the distressed debt restructuring situation, in the company, these guarantees will not be available.
That's a huge turnaround in argument there Oilhead
Quote
"Nice!! So did I Pfc vet.
Funny thing people (should I say shorters) don’t understand is.
Business is on positive territory. Pfc are aiming for 30billion $ worth projects this year,after having secured 8billions dollars last year, well it’s not year end yet. This is the most petrofac forward book as ever been, best it’s ever been as mentioned on the call by cfo and ceo. Emirate have allocated 100s billions worth of dollars for green energy in jan2024 meeting .Pfc are their preferred contractors. UK business is winning some nice work with BP and decommissioning jobs recently.
Even if the share price falls to 20p. Most long term holders won’t bother selling to buy back again. They will simply add more. By next year the books will be balanced and will be close £1 depending on shares in issue after march etc.
If these 11.5% morons are relying PIs to sell on news or etc, they are wrong. Firstly i won’t sell and I hold close to 7 figures shares. risk savy investors would’ve already sold by now as they’d simply wait till news"
3 guesses to who said that only about 6 weeks ago?
Take it you've sold your "7 figure' sum then Oilhead?
Debt for equity is going to happen in few days
Get your money and run
This will not end well for at least few years
They have to make hell of contracts to close that debt and loans to pay which are this year at least couple of them
Fat lady has been singing for some time
Be wise
I think a few others will be thinking along the same lines. My buys at 19.7 and 22.5 on Friday looking pretty solid now, because I know a run higher is on the cards
Looking good, more contracts, onwards.
D4E is not a done deal....it is only an option as are the other scenarios
D4E is a red herring. They use it to manipulate the share price. Knowing a share will go up or down 10 or 25% is incredibly valuable. The careful wording and the hedge fund short position timely adjustments scream “insider trading” but nothing anyone can or will do to stop it. The value, provenance and nature of the “non core assets” is what intrigues me. The BOD have a duty to shareholders and in reality they will have to sell stuff before they can rip off the shareholders and bond holders. If your loss is less than £10k and a D4E happens without asset stripping you have a small claim and now risk of a costs order if you lose. If you believe you have a good case - for example the defence to a small claim is crap - it would even be worth risking kicking it up to the fast track so as to force them in disclosure as regards assets and efforts made to sell them. They need to watch themselves as they can be made personally liable, which they know. I think they are trying to shift the PI shares into another vehicle or parties’ hands that are institutional to avoid such risks prior to some form of merger, takeover or a major investment by a hedge fund. In the later case they will want a massive say and board room presence. D4E is risky before asset stripping and probably unlawful. PFCVeteran made a bad move imho. No D4E in my view but DYOR.
Charts are pointing to a run higher……..RNS helps and what we would like to see is more short closing.
Disclaimer is only there to hold the Share price
The company that's just awarded a 300mil contract knows what's going on at least. You don't invest 300m into a sinking ship. Due diligence performed, deemed petrofac worthy of a 300mil contract + BP are confident enough to renew their contract with Petro
I'm back in