Member Info for CheshireLad

They can be waived and/or accordingly changed/tweaked.

In addition, I also note we've not had any confirmation that the covenants have been breached, so that is also a + at this time.

GLA

Build the backlog, to add value.

Reduce/suppress the SP (by any means and in conjunction with other stakeholders)

Sell non-core assets

Balance sheet looks a little better

Everyone is desensitized with the inevitable apathy

PFC becomes in play at a lower SP than would normally be allowable

If Schroders got wind and didn't like what they sore, and we think the Shorters were also aware of Schroders offloading, then it makes you wonder why then the BOD would want to then suppress the SP?

Are the BOD complicit in helping there nearest and dearest, or, keeping them sweet in the best interests of shareholders?

Hopefully all will be revealed over the next few weeks.

GLA

What I don’t like is one RNS leading with “shareholders” the another this week leading with “D4E”, truly terrible communications.

GLA

Rock….is right

GLA

Rick is spot on with this, large volumes in conjunction with the SP movements previously over the past 3 months and this week, including the odd movements on Friday suggest positions are being taken. It will be interesting to see what happens with short positions over the next week, if anything?

Hopefully they next update should’ve be definitive, but probably more of the same word salad and left open for interpretation.

GLA

Cast your mind back and see what happened to the SP since the update that was given in Dec 2023. We’ve had three SP spikes so one would assume buying pressure was greater causing these inflection points. Upon the third time the BID decided to issue an RNS quelling the SP rise for fear that they didn’t want any PI’s being stuck in a value trap? I don’t buy that, more likely a price has been agreed at the levels previously touched upon this morning. If that’s the case I should come about even, others will not be so lucky, if that scenario transpires, which I believe it will, but just my opinion. For me PFC ownership returning, via PE, to its original birthplace is more palatable to my own situation than ownership being taken by the major ME holders. That is unless there is a left field approach from a ME state owned entity?

Who knows what will happen in the short to medium term, but I won’t say long term as I don’t believe there was ever the intention where PFC would survive and thrive. The value will be badly and greatly realised only when the PI’s have long departed the stage.

GLA

Mates rates.

GLA

PFC is in play, and it’s the Americans v Middle East. Who will win out, and at the lowest price which is acceptable?

The BOD are treading a morally corrupt line regarding the December non disclosure (when it suited) and now again an unnecessary disclosure when it’s suited, for what’s currently on the table and bring discussed apparently at pace?

Nothing will ever surprise me, but you are all witnessing the company being stolen from you, and it’s been planned long before the imminent conclusion, or so the the recent announcement would have you believe.

GLA

That’s the way I see it Ivor.

GLA

FYI:

https://www.woodplc.com/news/latest-press-releases/2024/wood-to-expand-major-biopharmaceutical-manufacturing-plant-in-south-korea

GLA

Cuban,

Do you know if PFC's pension is in deficit? You are correct to highlight the Pension plan, however, one of the reasons Apollo was interested in WG. was because of the DB pension plan, which is currently running at a healthy 108% fully funded, due to mitigation prior to Liz & Kwasi budget. I won't say the budget was a disaster as it highlighted the LDI issue and the resulting downturn in bond prices, which has affected some DB pension plans, but not WG. It could very well be PFC's DB pension plan is running at a surplus just like WG's, so don't tarnish PFC with the same brush as Carillion, until you know all the facts, especially about pensions and how, when, and what legally you can do with DB occupational pension schemes held in Trust.

GLA, stay the course

Probably Fidelity?

GLA, whatever happens on Tuesday!!!!

Incentive stock options must mean performance targets being met, which is a good thing, BAU then. I wonder if they will be sold in to a rise in the near future, and what will drive the forthcoming SP rise?

GLA

ADNOC?

GLA

Mr Curtis,

How do you explain WG. being roughly £1.8 billion in debt then selling their Built Environment business for $1.8 billion (note the difference in £ & $), maintaining debt around £300 - £400 million, then Apollo pop up and approach. How do you explain that, when not considering or applying a similar circumstance/logic for PFC.

NB: I note you've mellowed with "sexy" asset sale.

GLA

Once again Mr Curtis wants to assume that BH would not take a change in the BH terms lightly. I agree that nothing comes for free, but to state BH would not agree to asset sales without Equity taking a hit is a big leap of faith. What about a sell off of a whole division, with a major pivot transition towards positioning firmly within renewable energy projects and consulting, then a realist on a more acceptable and dynamic exchange? That’s one way for a new CEO to make their mark, improve the balance sheet then go hell for leather concentrating in more specialised engineering deliverables with a smaller agile workforce, now that the order book is filling up and weighted in that direction.

GLA

Keep an eye on the MSCI index re-positioning dates.

I'm interested for PFC as under huge short attack, and when they move out of MSCI there are large volumes of shares traded. With PFC I was hoping they would be gobbled up by Shorts changing their position to cover and possibly go long. Shorter's will obviously know when certain indexes reposition and the likelihood that share that would not ordinarily be available through normal liquidity would suddenly be available, which appears to be the case with PFC and so far today the PFC price has not dropped, so at this moment I can only take that as a good sign that possibly the PFC shorter brigade are repositioning to go long and catch the upswing after their shenanigans, albeit any material turnaround will take time.

NB: I don't hold a position in ENQ, just happy to post to add a little more context for you guys.

FYI:

https://app2.msci.com/eqb/gimi/smallcap/MSCI_Feb24_SCPublicList.pdf

FYI:

https://www.woodplc.com/news/latest-press-releases/2024/wood-drives-significant-growth-in-middle-east-with-850-million-of-wins-in-2023

https://www.woodplc.com/news/latest-press-releases/2024/wood-continues-long-standing-relationship-with-equinor-in-brazil

GLA

Possibly gearing up for forthcoming M&A season,....drive it lower then the upside is so much greater?

Pure speculation on my behalf, and could be both ways, as we approach the anniversary of Apollos walk away and the outlook looks brighter for the sector, to a certain extent and depending on your own point of view.

GLA