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It is a contract within Asset Solutions which is arguably the strongest part of the company ....and ... if the company itself were to get to severe financial situation ...the Asset Solutions business could relatively easily , and quickly, be sold as a separate business and continue as normal
so... a $70m a year contract (...that doesnt necessarily run 5 years if circumstances changed things ) .... within Asset Solutions isnt as such an issue as it would be if it was a E&C contract
This is probably the best post Ive seen in a long time...
'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'
Simple question so don’t batter me! Would it be conceivable that PFC are going balls out accumulating as many contracts in order to demonstrate to the banks that any equity taken for debt will not necessary mean a harsh dilution in SP if future work load carry’s significant profit? Therefore no change in SP price regarding a possible D4E. Off to the dentist so can’t reply straight away, more pain lol..
Tuan6
the CEO of any company DOES NOT spend his/her time looking at the trading of the share and decide when to release any RNS based around that.....
The CEO is running the business and has a huge amount of responsibilities around doing so....
They release an RNS when they think it is appropriate ...
" the CEO let shorters" ......
the CEO has not the time to dance around the trading activities of shorters, bulls, bears or anyone else .... he
Extract the same I think about this company and its contacts worth many years to come. How can they let this administration and lay off thousands jobs? This is why sometimes need time to recover and this is what company doing.
I dont believe in CEO at all as he let shorters bring donw but nothing rns about this but when share on up trend he pull out bad RNS to bring down share price. CEO in group crock to teat apart this public company and carefully keep an eye on him .
Good point Joe
Cuban_cigar
I thought you were talking about share dealing rather than tax returns and CGT.
Hugeprofitby2030
I agree with that. I bought in before the 20th December and was tempted to sell but bought in on the basis it was a three year turnaround with an upside of four or five times investment allowing for restructuring and so on. Recently I have begun to think a takeover is possible, not probable but possible. It is interesting to watch developments as you say but I am off on my jollies so I am going to ignore everything except RNS updates and clock off.
GLA DYOR
" 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"
yes, but you need to understand that the share price will adjust to the demands of those working in the background, whether it be the City, lenders or whoever ..who are working on a fund raise or D4E etc
.... those in the background don't fall in line to the demands of the share price and anyone trading it
There are often leaks with regard to the likely price of fund raises or D4E prices and as such the market often adjusts to the leak or rumour
The RNS here last week "could" have been as a result of the need to stop leaks or rumours spreading .... so they made sure the market had as much information with regards a possible D4E as anyone else who might have become aware of such negotiations
Ivorgriffiths A baseline / reference share price is needed for profit/ loss calculation and tax return.
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 ...