Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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That comment reminds me of Esecallum! Lol
Haven't had to resort to a cardboard box like he implied.
Took a small nibble here again also. Probably a bad move but not betting the house. Just some chump change on a risky punt.
Speedy you twit I have 5k in here that's all you tos ser ... the one that will be homeless and die alone is one who sits there and laughs at others misfortune.
Paul Curtis is holding junk bonds and his only hope is that there is a D4E to cover his exposure. A takeover would be even worse for bondholders. If they enforce the loans they get nothing because the security will be used to pay the receivers, lawyers and court fees. He is really a shorter and wants a D4E just like them. He is down 75% assuming he didn’t pay a premium for his junk bonds. Shorters closing out will push the share price up and is good not bad. He is ramping bonds in other words.
Didn't Paul Curtis say that the shorts closing won't be a good thing ? Why is that the case ? I thought shorts reducing would be good?
Tuan6 - It implies PFC have good, long standing, trusted relationship with their partners/ clients and/or PFC operates in a niche market and it does not have many competitors. Also, where PFC' s involvement / contribution begin in the project plans which will dictate when Payment guarantees must be paid (subject to negotiation)
Below statement was in first paragraph of Strategic review statement from December 4th. I would have to say they've made a real hash of the key aim of the review; Shareholders seem to be the last people they care about. All senior management should be sacked.
"A key aim of this review is to protect the interests of Petrofac’s shareholders, creditors and employees while the Group continues its focus on safe and effective delivery for its clients."
If this company finish how can they won more new contact and extension more work for them to secure its future? Just month ago a RNS state they won 1.2 billion new contacts and it have secure guarantee so they need to secure second . That is make sure they will get over whatever situation .
COE play dirty job in this company and now we are all aware this. He will be soon fukc off this job and someone will take over his post.
either had enough or rats leaving a sinking ship (the latter).
1, let’s issue a prices destroying none rns,
2, perfect timing for jitters as iran launches attacks,
3, awaiting another share destroying rns (years end results next two weeks),
4, shorters abandoning the sinking ship
results:
1, the old boys club set up for success ( all help each other),
2, pi’s that make up the majority of petrofackeds owner base f88k up the **** by the board paying for their mismanagement.
wow would never have predicted that flow…..
good luck to all lth, gona need it with a large does of lube.
Shorter reduce from 7 to 6.
Shorting reduced.
https://shorttracker.co.uk/company/GB00B0H2K534/
Good luck
The BOD would rather survive a D4E than get sacked by a hostile takeover or even a semi friendly one.
1st May will be completely different. Everyone needs to chill here, What's the rush in selling your holdings. Wait for the results in April! Some shorters reducing some increasing they know nothing! Too much scaremongering in here am down 60% and have used this opportunity to reduce my average. Happy to hold and add sub 20p (which I dont think will hit). See you all when results hit - BUY when people are fearful. This is a winner with a huge backlog and amazing potential. It cannot fail, the industry needs it. HOLD ADD HOLD ADD!
I have a small holding here and as at Friday am now down. Clearly very naively I was wondering how PFC was still managing to secure new contracts when there was clearly so much concern about its solvency. Unless I’m missing something, the answer really does appear to be in that RNS. They weren’t really securing contracts, they were agreeing contracts that remain contingent upon delivery of guarantees which it seems they are simply not going to be able to deliver. In their absence this is finished. Why would a competitor launch a hostile takeover when they can pick up the pieces for nothing instead and probably charge a premium for stepping into the breach? Happy to hear alternative points of view but I am seriously considering cutting my losses here. I don’t normally do that, and would usually let a small punt like this one ride, but this looks particularly bad to me.
Shorts down by 0.66% and bonds marginally up by 0.5 point..
Worry we will retest the 15s previous lows as arguably things have deteriorated since then anyway and we have not buyer.
If the Algerian contract has really been awarded maybe they're saving the news to sugar coat the FY results.
Agreed
How low do you think we go before then?
Assuming results as expected in a couple of weeks
13,000,000 traded 23 not bad really. I just cannot see that lenders have anymore faith in the board than me. They release a negative RNS when they did not have to and don’t release one today or when the Algerian contracts were awarded. It seems chaotic. I just hope there is a hostile takeover brewing. If the new owners avoid a dilution and get the business back on track we can at least look forward to slow upward progress and more competent management.
Mind if it hits anywhere above 30 again I am getting the f#%k out of Dodge if there is no progress.
Yes can’t be believe there’s a buyer anymore now Fridays resilience explained.
Resilient 25p bond price is a major concern now.
Are they reporting late April?
Let's see tomorrow afternoon.
Bond price dripped to 25p on Friday which was probably the clue about shorts closing.
No real recovery today but low volumes on both days
Not mine.
Hope it was genuine buyers not shorts covering.
Others now increasing
What’s got my attention is the bond price at 25p.
Previous lows were around 35p in December when the SP was mid teens.
I really hope they can navigate through this cash flow/debt issue but the amount of shorts still here signals otherwise. If the business was for sale I’m pretty sure the shorts would know. Going to be an interesting couple of weeks here.
Rock8,
Shorts reducing from 11.23% to 10.59% in a day is a positive in my book.
Millenniums Likely increased with the 2 m + this morning.
Previous low was around 15.5p?
GLG’s exit is what held the price on Friday, simple as that. Millenniums going for the jugular.
The saga continues