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Somebody Clearly thinks this is too Over Valued and it should be much lower with half a million stock sale,,🤔,,
Not Looking Good,, would it break the £6.00 to the downside,, as uncertainty begins to settle about the elections,, if labour wins, then only god can help 😧😣,, Don't know what to do?
Labour are no more likely to win the election than they were yesterday and there was always going to be an election this year - Ive bought some this morning
Just Topped Up nice little buy . Just over a thousand more shares
With Labour Win,, i don't think labour will be able to take it public,, because they won't have enough money to do it,, so this could be Good opportunity to buy in,, or even top up,,
A little known fact that water companies, pennon included have been taking controbutions since privitisation for every additional connection made to their systems from builders and developers.
And all that money was specifcally ringfenced to provide for the additional demand placed on water and sewerage networks, to cater for that increased usage.
So, one new house ='s 1 new sewerage and water infrastructure charge, bigger properties calculated on a multiple and so pay much more.
At one time these costs were £1500 for a single house. Around about half that now.
I wonder where all that money went? - because clearly it didnt end up being ploughed into the networks which have been 'sweated' and left to cope ever since.
IMV its a bit late for them to be crying 'more money please' afetr they have milked all new connections since 1991 and done nothing with the cash they have creamed in.
Pressure to the downside,,hmmm
Or .....................
Water firms seek to raise bills up to 91% to prevent sewage dumping
Barclays cuts Pennon group price target to 1,030 (1,060) pence - 'overweight'
Water firms seek to raise bills up to 91% despite rampant sewage dumping
Last updated: 16:20 21 May 2024 BST First Published: 15:31 21 May 2024 BST
I sold my PNN shares a week or two ago. It does seem that it was a good timing. Sold at 724, and just them back at 666. What a big dip, and I always buy the dip. Let's see a good rebound from here.
So, good luck everyone.🤞🤞💪💪
Big drop today
Bill for all that 'Peckham spring' water in Brixham must have landed
A troubled share at the mo, but a buy at 6 quid.
And not the monetary sort in Pennons (Brixham) area i see on the news.
Company says its not the source and advises to continue drinking the water, wonder where its originating from?
Never nice to hear that word, unless buying onions
Interested observer only here, but by God is this one a bit of a lame duck sp wise.
The CEO has bought 22 shares, wow, what a vote of confidence! And The SP responded with an 18p up, hahahahaha....🤣🤣
SP dropping from placing price of £7.30. Looks like large shareholders are selling. They know something that small shareholders don't.
Wonder why large shareholders ares reducing after buying in the Placing. Do they know something?
Under £7.25 today. That is cheaper / near/same as/than buying at placing price of £7.30 included stamp duty and commission if you are with broker that charge low fees
Must be some reason in the madness or is it someone is making money on the side and not care for shareholders
The Times is questioning why they bought a water company (in pretty dire debt straights and making losses) at a 6% premium.
I do not know for sure Jason but I did consider scenarios when Labour/Mr Corbyn and co. had a chance at power and were proposing to nationalise water as well as most everything else.
The plan, as I understood it then, was to buy water companies at a "fair" price. It would not be a Venezuela-esque seizure of assets. The uncertainty is around what would be "fair". Of course the share price would fall in the run up to an election and nose dive after the result. An ensuing legal battle with each water company would presumably make it impossible to achieve nationalisation in a government term. Unless the price was fair. I think that protects from severe downside, and, of course, it is often all hot air with politicians, who would row back on their proposed plans once in office. Too much like hard work.
Does anyone know what may happen to shareholders if Pennon was nationalised?