Member Info for CaptNemo

An interesting RNS - looks like BofA just bought 7.7 % of GMS - they obviously see valve here too. That's about a 1/3 of what SeaFood were looking to unload and should help mop up the over hang from that distribution and the warrants.

If this does not have a positive impact on the SP I'd be very surprised.

No deal YET. Also no RNS to say talks have failed, so no change from last week.

Chas I 'm sure Sidara would love to pick up WG for 50p, however I think it's unlikely to go that cheaply.

There are some II's sitting on serious losses who control millions of shares, unlikely they would be happy with 50p, BUT they would probably be happy to see the back WG if the price is acceptable. The alternative for them is to stay long, force a change of management and possibly a rights issue to resolve the funding issue.

Also Sidara obviously want WG and will not wish their offer to be rejected out of hand or encourage someone else like Worley to come in with a counter offer.

My guess is that it will be somewhere in the 120p range or a 50% to the price they were looking at last time.

GLA

Morning Wiggly - thanks for an interesting and informative post.

There is also another possibility.

There have been two offers over the last few years for Wood, the fact that Sadira have come back and are in talks again strongly suggests that they did not find anything too scary when they did their due diligence. A point that will most likely be noticed by others. If Sadira come in with a low ball offer, hopefully someone else will also put in a counter offer - then we might get closer to your £2 - which I for one would be very happy with.

Balls

The debt only has value if it can be repaid. If it's unlikely to be repaid it's normally called Junk and trades for pennies on the dollar/pound.

Most of PFC bond holders are taking a serious haircut, that's why it's taken so long to get this far. I can imagine that any of them are happy about it but it's probably better than the other option which is nothing.

Going to keep watching from the sidelines until 31st March.

PY - I think you might be significantly over estimating the valve of PFC once all re-financing is completed. The current valve is £36.5m - how does it get to £1.6b ?

The recapitalisation will add valve but it's more likely to be around £400m - if that, of which current share holders will get 2.2% or £8.8m .

8.8m divided by 530m shares is 1.6p per share - I'm afraid I agree with VET - it's NOT currently priced in.

GL to anyone who is long here.

I suspect the problem is the Idiot across the pond. He is cutting huge swathes of funding for medical programs and OXB is exposed to that.

Hopefully he'll be gone soon and normality will return.

Hi Gonzo Yes it's a CFD, closing price on the 30th was 64.7. I would imagine it's now closed and they probably did OK out of it.

MAC we still have to get to your magical 25p first, we came close a while back. I think Seafood distributing all their shares has, and will continue to, keep a lid on the SP for a while . The minor dilution via warrants isn't helping either, BUT these are short term issues, ie six months. Then it could get very interesting.

Been here a long time, all the way through the 3p days and before that. Keep the faith.

Interesting , just two small trades in the first 70 minutes and them - pow, as soon as the TR-1 hit its off to the races.

This bodes well, especially with the reducing debt situation. What's not to like?

The latest TR-1 shows that SF continues to reduce their holding by distributing their shares. I assume this will keep happening until they reach zero.

Does anyone understand, or can explain, why it's being done in dribs and drabs over a prolonged time frame? I would have thought it would have been better for us loooong term holders to have it done in one transaction.

Artbyav - I hope you are correct in that the volatility reduces. However, I fear that it may continue for a while, as some of the Seafox shareholders who have received shares in GMS may decide to sell some, or all of them for the quick cash.

Let's hope you're right and I'm wrong :)

Auson - it's cold out there, almost everywhere, good support for the oil price.

Disappointed is an understatement. I invested here because I liked the technology of ReZorce and the potential for it to be a game changer, guess that's not going to happen for while - if ever. It now looks like I'm an investor in a profitable hi-tech foams business, with a decent turn over and a forward PE of around 12 - so I'll use any mass exodus as an opportunity to average down.

I think it's possible that the ReZorce IP will be sold off to one of the big packaging companies - that business and sometimes it sucks.

Marshall Wace upped their short exposure yesterday (4th) by another 0.11% to 1.31% - obviously not put off by the rise in the SP, and probably shorting into the rise today as well - we'll have to wait and see what the numbers say tomorrow.

Total declared short is now 4.72% - which is about 32.5 m shares - that's a lot. Could get interesting if there is more good news. Love the smell of toast in the morning :)

Normally when the CFO leaves at short notice it has a negative impact on the SP.

"With the agreement of the Board, Mr Tichias' resignation will take effect immediately."

It does not say anything about a 'personal reason' to leave - just to pursue other opportunities - what's going on?

Hi Vet,

Based on past RNS I think we should expect a brief message on Mon 18th saying 'can kicked down the road - AGAIN' . I guess it's not the worst news, but there only so many times that can happen.

Like you I got seriously burned here and now I'm waiting to see what will happen, not in PFC anymore.

Helikon & TFG obviously think that it's either a massive D4E or bust, as both have been increasing their short exposure recently.

GLA

Some very BIG trades after the close today!

410k shares was the biggest. Something up?????

The stone announced in the latest RNS has to be worth atleast $4 to $5 million, a number of other big stones sold for around $38k per ct.

That's straight to the bottom line. And what's the market reaction this morning, nothing, no activity.

That 4 to 5 million is around 20% of our current valve as a company. How many other companies out there could add 20% to the value over night and get no reaction?

This is a very frustrating company to own, but I will keep adding as something has to pick up.

An EXCEPTIONAL 212.9ct very nice indeed.