Member Info for baronbog

Great article in The Times

Revenue expected to increase 30% over three years and, more importantly profits to double in that time frame.

https://apple.news/A5G_LJ0jdTMWBhRqiIrZgDA

For a bit of fun, what do people think the Shorters strategy will be tomorrow?

(a) collapse the sp to the teens

(b) wrong foot retail investors driving the sp up tomorrow only to collapse it Friday, or

(c) close their shorts

@icecool

For all our sakes I hope I’m wrong, but once trust and sentiment is gone, it’s very hard to recover.

@notrac

Probably a signing on bonus in lieu of share options foregone at his previous employer

Btw

I don’t for a minute believe the reason for the CFO resignation.

More likely he came in 10 months ago, saw what a pile of poo was lurking underneath, wasn’t prepared to stand over the figures supplied to the auditors, sold his shares and has been working, last few months to jump ship

Unfortunately Edwin, those figures are now 14 months old … and given the current review by Deloitte, are not credible now anyway (certainly the balance sheet ones).

IMV a take-over bid in the short term is very unlikely as:-

(a) meaningful warranties would not be available from the new CFO for quite some time

(b) bidding while the Deloitte’s review in outstanding would be very risky

(c) clarity on refinancing options needed first

With the CFO gone, it’s too early to sack the CEO and chairman (though in time I think that’s a given) so I guess that the company will go pretty quiet for the next few months while the shorters have a field day. We could easily see Pfc sp levels.

Hard to see a way out at this point … a RI at the current sp would mean we get pretty much wiped out, so probably asset sales to vulture funds and bunker mentality until the Deloitte has finished their work (which may well be massively expanded beyond their current remit given the s h it show this has become).

What a pity such a once great company has been brought to this point.

@ icecool

Golly you’re looking a bit foolish after all your posting over the last few days.

Seems like CFO “facts” might be CFO “fiction”

This contract seems tiny ... £97m over 8 years so £12m per year - or have I got that wrong?

If that's right, in the scheme of things thats approx 0.5% of their yearly revenue ...

Tried to buy 60,000 CPI shares yesterday through HSBC at the market 'buy' price. They sold me 1 x share (17.14p) and charged me £10.50 dealing charges, lol. What a joke.

Being trying for a few days now to build up 1m shares but only one in five trades at market price succeeds. I suspect the professionals are trying to hold the price down while restricting the quantity available at these low prices.

That's the main problem with these small cap companies, the shares are too easy to manipulate.

Lloyds … what a great share. Current yield 6.4% hopefully increasing 10% a year based on buybacks and legacy issues dropping off (save for this motor finance problem). And when banks are re-rated and back in favour, we should see a 50% uplift in the share price. Hopefully the sp remains low till we get another two or three buyback through first.

This is not a share for the gamblers and short term holders.

Porsche, I’m much more comfortable to be invested in a stock market that’s regarded as one of the world’s most undervalued major markets getting decent dividends on my basket of shares than some over priced, over hipped markets dominated by the biggest eight shares paying very little.

Just cause you got your timing wrong and crystallised your losses by jumping from something cheap to overpriced US shares doesn’t mean we won’t make decent money here.

Silver

“IMO the fall triggered in October it is very much related to the middle east, particularly the deteriorating relationship between London and the Arab world and the effect that will have in who they do business with in the future.”

Very interesting point you make … but at least Abu Dhabi still seem gung ho in their bid for The Telegraph

Would be ironically if McDermott International (the CEO’s previous employer) steps in and buys PFC for a £1 after the company goes into administration. Must be some very interesting discussions going on at COP28 this week. All the players gathered under one roof.

The SFO and the shorters have forced a once great FT100 company to its knees. Hard to see a recovery from here. Legacy customers will be delaying negotiating their final account as they’ll think they’ll get a better deal from administrations … or get away paying nothing at all, new customers would be mad to sign a deal now with pfc now only to have the possibility of them going bust a few days later and funders will be very nervous. A vicious circle unfortunately becoming a self fulfilling prophecy.

Bro-ken-broker

Posts: 276

Price: 17.30

No Opinion

RE: Share suspensionToday 10:11

Not happening

Yes I agree, the shorters are working hard to prevent the shares being suspended, ie it won’t drop much more today. Thats because they have more money to make taking it down 10% every day next week. Can’t do that if the shares are suspended

Johny

I wish some others on here were as honest and straightforward as you.

As to the twats who attacked you while staying silent about the vast majority of crap posts on here, are disingenuous.

An honest mistake was made, you apologised and have made multiple posts since explaining. Bard AI is part of google so the idiot saying you should have fact checked with google is … well an idiot. You certainly opened my eyes as to how AI can be manipulated to lie. Worse still if it turns out it had mixed underlying true information together with lies. You have done a good service to us all.

Feeling the pain here too but thank goodness for Rolls Royce otherwise this would have been frugal Xmas!

Quite interesting (and worrying) that BARD AI can be manipulated in such a specific way … the mistake by the fraudster was starting as fact a PFC announcement and giving references to three articles. If they simply said ‘It is rumoured that …’ it would have been much more effective.

Save for the lies in the response, if it turns out that the underlying information is vaguely true (ie £1.5B write-off etc), what then? How did BARD generate its response? Was is some bad actor trying to cover his tracks and misdirect away from their leaks to shorters for financial reward?

Johny, you have raised a very important issue here and the implications are horrendous especially as it becomes more sophisticated. I also believe you acted in good faith throughout. Thank you for bringing to our attention

Tareq Kawash, in his first outing as a CEO (and probably his last), is clearly out of his depth.

In that recent contrived ‘interview’ (the link was posted on this board a few days back) he was not impressive, imo. His hands were not steady and his delivery was far below what would be expected of a CEO running such a large company, especially as the questions were probably provided in advance.

Hard to see a meaningful recovery in the sp from here. The shorters have driven the company into a corner limiting their options and left them at the mercy of vulture funds.(Maybe Wood Group would take it over for £1?). A stronger, more experienced CEO would have put up a better fight.

Existing shareholders will be diluted out of existence, customers will be having second thoughts on releasing any money up front for projects and potential customers will not commit to signing any new orders till this is resolved.

One possibility is a ‘mercy’ injection of capital from ADNOC to save their trusted, longstanding contractor.

My average is around £1. No point selling out now. Thank goodness for RR. and the fact I can right off my losses (when I crystallise them) here against profits elsewhere.

Serious points for serious people …. ranting & raving and guessing the sp direction is for the gamblers 😅

@confluence, it’s good to have your considered reply. So to your first point, surely the sp dropping heavily (and given this is not the first time at these levels) it is neither good or bad for you, unless you are a short term investor or day trading. It simply plays on your psychology but has little financial or tangible impact (unless you capitulate and sell your shares of course). So ‘reasonable people would agree is not a good thing’ is not applicable. Your next point is naive in regard to the sp dropping on no news and low volumes if you consider the shorters are generally experienced professional traders playing the markets (or acting on inside information, illegal, to which we can have little impact). I’m sure if we had the trading expertise we would be doing exactly the same thing. One advantage to active shorting is it gives PI the opportunity to buy in at very low prices, and I suspect you may have taken advantage of this in the past when it was in your favour but now feel aggrieved the sp is on the wrong side of your average. To your next point, how it plays out is not relevant to shorting either. So let’s say the sp is 80p , shorting is illegal and the company goes bust; compared to shorting the price down to 45p and the company goes bust. In both cases you have still lost the full value of your investment. But by your logic, you subconsciously like the shorting to alert you to the possibility of trouble and the option to sell at a loss but consciously find this manipulation abhorrent?

@ confluence, so by extrapolation you are jealous other people have bought the shares cheaper … it would be more helpful if you stated what your specific issues to shorting and how it effects you rather that using derogative emojis