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Hi Apothecary,
You appear to be the only sound analyst, and 'analyst' may be over creative a term, on the PFC board!
I left share chat boards, 15 years ago, as they really failed to inform the shareholders of what was likely to occur.
I've dipped my toe back into PFC, on a new board LSE, and nothing has changed.
The haters, the sluggers, the pushers, and the pretenders.
It might be best, not to discuss, how one invests, in the stock market, or anywhere else!
Heading offline.
My son lives here. He has rats after having his driveway block paved. Basically they broke the pipe and the rats dug up under. Sorted now but irritating.
Mary, quite the opposite. I’m still here stalking. Actually I’m in Ipswich in the Premier Inn if you’re passing by. My eldest daughter is having her Hen Weekend at home so have escaped. Took me ages to get here, £6 per night in their carpark. We had an amazing dinner just now on the waterfront, 6 rock oysters 🦪 each.
This is second attempt on Wood group which is expensive as well(no attempt on PFC although long back log). I had very much confidence in PFC but hiding schroders and then hiding these results have shaken my confidence. More I think on PFC the more negativity I get. In short these are crooks.
The Sidara group of companies (previously Dar Group) is mainly into Engineering, Consultancy and Project Management which is why they are keen to add the Wood Group to their portfolio who operate in the same realm!
PFC on the other hand is predominantly into EPC contracting hence very unlikely that they would be targeted by Sidara unless of course Dar wanted to diversify into the contracting business!
It is likely that they will up their bid for Wood and try again.
It’s a steal - wipe out debt and low ball for equity, it’s a complete no brainer . Brace yourself
The bidder for Wood Group will look at Petrofac. They would be mad not to. I think Petrofac will get taken over.
Rose tinted perhaps but you may be right. Lonely on here without the usual suspects.
Plenty of positions to advertised to continue their huge back log of work. Doesn’t seem like a company going under. Takeover offer could only be a few weeks away. Who knows? Glad I didn’t sell. GLA
Fair enough. Will keep it on my watch list and will have a look at New River too. Not familiar with them.
IMO the bonds here might offer a reasonable risk to reward, but corporate bonds generally are something that I might look at more seriously if we get a credit event. I know some people who did extremely well from buying these in some big names back in the GFC dark days.
I met the LABs team a few weeks ago, thought they were very impressive and the assets are well located in the Golden Triangle. They are in the midst of building out Oxford so there is a risk re letting this space. However supply demand looks good. I have a large holding and came away feeing very relaxed. Think there is a lot of potential upside and must be a takeover target.
I also bought more New River this morning at 74.3p. You will like the unsecured long dated debt at 3.5%.
Re PFC, the bonds are firmer. Someone bidding 20 cents for several million.
Interesting. I have recently started looking at REIT's myself, for the first time in a while. Ideally ones to essentially bottom draw, along with a couple of other high dividend yielding names (like PMI, since we are sharing names) - that will hopefully not require as much focus as many individual stocks often do.
And as long as they keep on kicking out big yields, that will serve the purpose for me with that bunch.
Did not fancy LABS, but took a small starting position in CLS. EBOX is one I am still pondering, although might have missed the boat on that one; prefer it in the low 50's TBH, but not worried if it does not come to pass.
Can only focus on so many options at one time :)
Meanwhile, I hope you shareholders here get some good news soon. I remain pessimistic about it, but I am often wrong, so this might be another one to add to that list. GLA.
Petropoodles, did you sell while you could and buy tullow?
Very much appreciated Paul Curtis.
I believe you are a top man in this game generally.
Thanks/Nice to Michu
Petrofac projects worth $6.6bn at risk in Mena region
AA is not in retirement ! He is the current Executive chairman of Venterra Group which was valued @ $211 - 317m.
I’m mainly invested in REITs since I think they offer a sensational risk reward, trading at very large discounts to tangible assets and paying out 8-10% dividends. And linked to inflation so rental income is increasing plus there is limited new build so supply demand metrics are good.
My largest holding is EBOX (logistical warehouses) but this has now bounced on takeover rumours.
Two that haven’t yet bounced, and I’m buying, are LABS (well located life sciences laboratories) and CLS (secondary ell located offices).
LABS is 40p versus 80p NAV. Quality management and assets.
CLS is 87p versus 230p NAV. IMO a great contrarian play since restricted new supply and their offices are a notch below prime. Crap offices are dead in the water thanks to WFH but well located ESG compliant offices will find tenants who can’t afford the much more expensive and very limited number of new offices being built. CLS paying a covered 9% dividend, well managed and most of the assets are ‘ring fenced’ so not at the mercy of the banks re renegotiating terms.
,.. if I may
What are your favourite three Equities to Invest In/Bet On right now?
Thanks/Nice to Michu
Why would anyone bid for Wood Group well you could pick up PFC for 2/3 pence after it goes into admin.
Sold all my shares at 24p, haven't checked the price until today. Guess it's game over here, the casino has finally closed down
Why would someone make a bid on company with no results and going for a little default?
Idea behind this mess would be to buy the profit making parts for pennies and let shareholders etc get nothing.
I wish I wish with all my heart to fly with dragons. There now, there now.
I can call it a dream. Asfari pulled out of pfc and retired a couple of years ago
Please do not laugh.
I would like to see the Asfari family take CONTROL of pfc and build it back up to its former glory :-)
I really wish PFC pulls itself out of the ashes :-)