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The Stock Market is to transfer wealth.
From the General Public, to the rich and greedy. This was a Top company a few years ago, now decimated. I have about £22k to lose here, a considerable slice of my pie.. Sad times!
There was also the indication yesterday in American that rates could be higher for longer (no cuts this year), lots of things affect the market what I’m saying is this isn’t the only thing down, it’s the normal bad timing and an RNS that was required. Next hit will be the end of year results in the next two weeks. Hopefully may gain 4-8p ground so that can get smashed off the share price. If not this the thing will be at 10p soon.
I’d like to be out but it’s a balance act, currently down £154k or do I stay and potentially loose another £99k. ( the lot ) this is so like the AA and carillon neither worked out well for PIs,
It’s easy to say sell when it’s not your money
Badvoc
The RNS landed Friday at 7am, by close on Friday the SP had dropped from 32p to 26p. The attack on Israel wasn’t until Saturday night. But you are roight in some sense, if the unrest escalates in the ME it will have a negative impact On PFC as the UAE is positioned dangerously close to Iran.
I think some on here think these current drops are from Friday, it’s more because of the middle unrest with Iran and Isreal etc. my entire portfolio is down in the red last few days because of this.
I’m at a loss of £154k at the mo, so not worth selling, just have to pray and watch for a long term. if not going bust, more like the board will roger the PIs so their mates in the private investment firms can take a larger controlling stock, as the RNS quoted “investors” so could be some investment firms taking an interest (not take over) for debt conversion.
Good luck all, don’t think it’s going bust but the board are defo NOT for PIs
Whatever devil you do devil you don’t…
hold on didn't you listen to mary b and her failsafe investment strategy 🤔 she on vacation now while the **** hits the fan 💩💩💩 what a suprise.... don't fall for her snooker rack system turns up when a share tanks claiming to have just bought the bottom or top sliced before the fall...
I'm OUT too with a loss - was hoping this may turn out to be a good small but long term but alas NOT :)
I had a small position here from a while ago, which I took the loss on today.
I am surprised that the SP has not dropped even lower and faster, after these recent updates.
I had planned to stick with it, but either the BOD are trying to frighten people out with what I see as some puzzling updates (something that I would not wish to be a part of, however indirectly), or perhaps this is just a lack of retail accepting the reality of the updates and thus further severe falls in the SP are imminent sooner or later.
A take out, even at the current price, seems extremely far fetched IMO, but of course time will tell and I could be wrong.
A shame, as I had liked the potential recovery story here. Had a few profitable trades along the way, and should have kept it that way, rather than leaving a few in the pot as an investment. Hey ho. GLA and I hope it comes good for those of you who are on the other side of the trade.
Yeah I quite agree Bridgedogg, in a sense it was actually responsible of the BOD to prevent a backlash if more waded in.....the SFO situation and the ADNOC ban has hammered this company, it should been a red flag when they had to do a raise for the 77mill fine but I stupidly jumped in then also......anyone have any examples of a company returning back from a D4E to former highs...GLA
Bond price up to 26.43p
I do feel that the BOD deliberately release the last RNS to thrash the share price so the dilution price of D4E will look more acceptable to the shareholders, probably between 10-15p agreed by bondholders.
Whatever it looks like the teens today or tomorrow.
15 previous low?
L2/3 very weak
The problem with saying D4E is priced is that it’s not. Maybe the possibility has been priced in pushing this down but the massive dilution doesn’t get priced in until it happens. There’s a reason this is the most shorted stock. I guess the latest RNS was just a way if preventing more PIs from buying in at high prices. I lost all my gains here but got out with my shirt intact. I can’t believe there isn’t a better financing option than this. The have huge industry partners as well as long standing relationships in the middle east. It may all come good still and I hope it does, but it’s a huge risk.
3 years old.....
Clutching at Straws....
The SFO still on his trail.....
I'ld be up for paying into a fundraiser to put a contract out on him if he screws us all
That is a narrative that is increasingly likely. This guy basically controls the group and I recon he is positioning himself for a take over. That last rns would searingly support that as an outcome
Https://www.energyvoice.com/renewables-energy-transition/360795/former-petrofac-ceo-asfari-snaps-up-scots-offshore-wind-business/
Not sure I trust this guy, the RNS will have been run by him if not written by him inorder to get the price down for a cheap buy out. After which at some point he can list Venterra group and cash in with new shares. Hopefully he is honourable and not going to screw the LTHers and new ones just to enrich himself.
PFC.
Yes - there will be a dilution of shares. That doesn't mean the value of the shares dropped by the leve the dilution implies.
As others say, it may be semi, fully or even over priced in.
I posted earlier on this. Once the D4E is done, the debt is reduced and the backlog remains. It just depends on the level of dilution and perceived value of the backlog afterwards. So as per my earlier post, what is the MCap after financial restructure and how much of it will we then own.
Todays price reflects the oncoming dilution and big debt. Not may buyers and lots of risk. I took a small punt, but money I am prepared to lose. Thankfully, I got out from a much higher level with a small loss. Had I held til now, I'd have lost heaps!
As a holder it is trickier. Pure gamble either way IMHO. And I'm no trader or analyst. Partly expect to still lose the 5k I pumped in. But you never know. MCap could end up rising back towards it's peers, which even with a large dilution, could still leave me with a profit in coming yeqrs and from these low levels.
I know, I hear you Tony, I'm an idiot gambler! But plenty in reserve if I feel like averaging down if they get the debt fixed and it doesn't go private at that point.
I get your pain PFCvetran! I too am going around in circles with a 'do I or do I not sell'.
If I do, I'm sure positive news will surface and i'll kick myself and if I don't I will be melting alongside with you.
I'm half down on my investment and part of me thinks, let's cash in the chips and find a stronger neddy to put my dosh into and my other half says sit it out and take whatever if coming down the track. This is the only investment that's got me so confused..!
U sell now veteran and then a bid comes the next day for 60p- how would u feel? How ever long it takes it’ll recover just do nothing and believe it’ll rise from the fire. Thats what am doing! DForE isn’t definite
It’s a tough call, FOMO being a big factor for LTH’s. I sold two days ago and if I’d held until today would be a good few grand worse off. A bird in the hand etc. whatever anyone decides it has to be their call, if you sell and the rabbit does indeed jump out of the hat then it would be gut wrenching but if you hold and the BOD trash the SP even further that too will be gut wrenching. The profit doesn’t exist yet neither does the loss but the equity is real and it’s your choice as to how you protect it, or not. I’m sitting on the cash for the timebeing and monitoring regularly, if it turns then I’ll miss the initial jump but as it’s always been about the medium to long term I will still end up making something back. At present I know for certain nothing is being chipped away at. As with most things in life whatever you do no looking back and don’t wallow in the regret,
Sorry to hear that Steve, but don't beat yourself up over it - each to their own
Wait until results out first. We know they got giod progress this year and close some contacts . Income not as bad as it sound. The main poin in this company come from top CEO . He is play game and destroys it for his owe gain.
Vet
Very reluctantly I've sold at a loss, can't see a way out of this one!
My hoding was up a tad last Thursday before the board issued a pointless RNS sabotaging my and everyone's holding.
If the board are fighting us and the shorts too then we're doomed.
Gutted to be honest
One thing I am favouring is to hold on. I have decided I am going to go forward holding.
I have held thes shares since about 2104/5 'ish, have managed over the years to get my break even to just over 30p/share.
I don't believe they're going under , mistakenly or not, so having held for so long, and as long as they can maintain and grow order backlog, given another 4/5 years I think they will be north of 30p. I also think that a takeover approach is more likely once PFC have sorted the current f-u c-kup.
--Soooo gonna rest my brain now, relax and (try) stop worrying - it's only money after all!!!!
Value of contracts not currently being realised in valuation.
Once balance sheet improved it would be.