Member Info for CheshireLad

FYI:

The shares we need are everywhere around us.......watch, listen, and digest

https://www.youtube.com/watch?v=f1yWSePMqsk

GLA

Article doesn't say much, just references The Telegraph:

THG mulls taking its nutritional business public in the US

THG, which owns Lookfantastic and Cult Beauty, is exploring plans to list MyProtein, its nutritional arm, in the US.

THG is exploring plans to list MyProtein in the US as pressure mounts from investors for the separation of the nutritional business, The Telegraph has reported.

This comes after shareholder Kelso Group, which increased its stake in the business to 8 million shares earlier this year, continues to advocate its separation from the business, thanks to MyProtein’S value as a global consumer brand.

In a statement, Kelso Group said: “We believe that THG’s Nutrition division with its main brand of MyProtein should be valued as a global consumer brand, given its near $1bn sales, double-digit EBITDA margins and increased product innovation in the current year.

“This division alone continues, in our view, to be worth more than the market capitalisation of THG.”

The possible listing is a surprise given THG’s challenges since it listed on the London Stock Exchange in 2020. Share prices for the health and beauty pure play retailer have dropped by over 90%, with its valuation decreasing from £6.5bn in September 2020 to £850m at the time of writing.

In its latest interim half-year results, THG’s operating losses deepened due to a one-off, non-cash charge of £26.2m related to the sale of its loss-making OnDemand business. While the retailer said this has improved its overall financial guidance, the disposal took its operating losses to £99.5m, from losses of £89.2m for the same period in 2022.

GLA

My view on the matter, FWIW, it's nothing to do with debt just fear and loathing caused by macro events combined with no official word from the company. However, the longer it goes on with no official word from the company commenting on the SP decline, the more I feel, in some small way, more comforted by the fact. I know it's not the done thing for a company to comment, but it has been known that an official word from the the company can quell rumors, along with Director buying, of which we have had none. It's all a bit strange and a bit of a paradox, truth be told. If there was bad the board would be obliged to notify the market a.s.a.p........which they have not, so logically you would assume there is nothing bad based on the current timeframe surrounding the SP and bond decline.

The only conclusion I can come to is that with the news we've had since the SP decline, seemingly all positive, and along with the ratings upgrade, is that an offer has come in for the business, which fits the narrative with the paradox mentioned. The shorts have seen their chance, knowing the board cannot publicly comment. If the shorts have inside information it may turn out to actually be +ve not -ve.

The question everyone should be asking themselves is why not bid for company, even with the debt, when the bar is so low, any premium on a bid (from the low bar) would probably be towards the £1.25 range.

If I'm wrong, it's my own fault for topping up, I'll just have buy a lot more to possibly average down further, but on PFC I'm risk-tolerant

GLA

FYI:

https://www.woodplc.com/news/latest-press-releases/2023/wood-triples-headcount-in-colombia-strengthening-global-engineering-centre

GLA

FYI: For clarity GLG's last but one disclosure

GLG Partners LP PETROFAC LTD GB00B0H2K534 0.82 21/08/2023

FYI:

Position Holder Name of Share Issuer Net Short (%) Position Date

Astaris Capital Management LLP PETROFAC LTD 1.70 13/11/2023

GLG Partners LP PETROFAC LTD 0.79 13/11/2023

Helikon Investments Limited PETROFAC LTD 0.74 13/11/2023

Millennium Capital Partners LLP PETROFAC LTD 1.20 08/11/2023

Helikon Investments Limited PETROFAC LTD 0.63 08/11/2023

Astaris Capital Management LLP PETROFAC LTD 1.52 06/11/2023

Helikon Investments Limited PETROFAC LTD 0.52 06/11/2023

Millennium Capital Partners LLP PETROFAC LTD 1.11 03/11/2023

Astaris Capital Management LLP PETROFAC LTD 1.30 02/11/2023

Millennium Capital Partners LLP PETROFAC LTD 1.04 02/11/2023

Astaris Capital Management LLP PETROFAC LTD 1.40 01/11/2023

Millennium Capital Partners LLP PETROFAC LTD 0.91 01/11/2023

I don't have level 2, but can anyone confirm if we touched below 40?

GLA

I've been brave all day and have been buying with every drop, this was the latest and not yet confirmed:

a little trade placed then eventually executed

Order Accepted

You’ve placed an order to Buy

1,000

PFC

Petrofac Ltd

Indicative Price

£0.3918

£395.78

Order Executed

You’ve placed an order to Buy

1,000

PFC

Petrofac Ltd

Indicative Price

£0..414295

£418.29

GLA

I suppose you would class that as good gearing?

Or playing with others money, and use a scatter gun approach a bit like a dartboard and eventually hit the correct number....still waiting for those numbers Matt.

#putuporshutupmatt

GLA

FYI, for those who haven't seen the article without the Paywall:

https://www.energyvoice.com/oilandgas/540666/petrofac-headcount/

Energy services giant Petrofac (LON: PFC) has hired 3,000 people in the last 12 months amid a strong order book.

The London-listed firm said 1,000 of its new hires have been in the UK, where it has renewed more than 80% of its existing work.

Petrofac, like other companies of its type, made major cuts during the Covid pandemic – including dropping around 20% of its global workforce of around 12,000 in April 2020.

Today the company has 8,600 people worldwide.

In recent months the London-listed firm has racked up North Sea wins and extensions worth multiple hundreds of millions of dollars with firms including Repsol, CNR International, Saipem and NEO Energy.

Elsewhere it has made big wins, including a $1.5bn petrochemicals deal in Algeria.

Despite losses being expected in H2 as part of legacy E&C issues, the firm said at the end of June its order book stood at $6.6bn, nearly double that at the start of 2023.

In September it made 251 hires, 80 of which were in the UK.

Group director of HR Des Thurlby said: “2023 has been Petrofac’s strongest period for new awards in many years. We have renewed more than 80% of our existing work in the UK and secured new projects in both the traditional and renewable energy sectors in Europe, the Middle East and Africa.

“As we ramp up our new projects, we have created exciting opportunities for our existing talent, and we are welcoming a large number of new team members at both an experienced and graduate level.”

By Allister Thomas

07/11/2023, 7:00 am

Ouch......

"THG's muscle-clad boss Matt Moulding took to social media again last week to show off Wild Kong, a sculpture by French artist Richard Orlinski that depicts a large gorilla beating its chest and roaring.

'The message is clear – not only do we stand our ground at THG, but we're a force to be reckoned with,' Moulding wrote online, posting a picture of him posing with the sculpture.

Someone might want to remind Matt about the fate of the movie monster that gives the sculpture its name.

King Kong plunges to a tragic end from the top of the Empire State Building. There's a metaphor in there somewhere."

Contributor: Alex Brummer

I despair, the LI post encapsulates the pure narcissism of the man. References to top of the world, stand our ground, force to be reckoned with, obviously the SP backs them statements up, oh no another miss from Matt. But I do give credit for not stating "King Kong", probably because even he recognizes that King Kong eventually dies. The next one will be either Peter Pan or The Terminator, I give up with him, he is a first class idiot who is out of his depth, the missed targets & continuing poor results, lack of strategy updates, running the communications via LI instead of official news services, I could go on, but won't, for my own sanity.

A great big statue of a gorilla could also be seen as a bully, as I'm sure some of the previous and current board members could probably back that up, but only in front of a camera with both their face and voices changed for fear of upsetting the narrative Matt likes to go with. Surely he could've chosen a different type of statue (and not post it at all), a more inclusive statue or decor suiting that of a Plc, yes Plc Matt, but those are three letters that you do not want to acknowledge, pure deflection tactics.

I'll give to New Year, then I'm out.

GLA

Back out of the woodwork with your tag team narrative SnapDog.

Might it be my views or reasoning is the antidote to your poison?

GLA

I agree, the last few months trading is hard to fathom when considering the good news we've been privy to. It looks like the dark arts are being invoked as a tool/hedge.

With all that we know at this time, would the the trading activity and equity price and now bond price movements make sense, albeit as a pre-emptive move to clear out the free float and disengage/disarm nervous private investors if the a company was to be taken private. I only mention it die to my other large holdings in WG & THG which have had similar price movements due, as we know, to approaches from PE. Is it beyond the realms of possibility that PFC will be taken private either by PE or a sovereign wealth fund? That's my take, and I'll wait for a capital event over the next 18 months, in the event that doesn't happen I'll only have myself to blame.

GLA

IMO I don't think the selling down of the bonds is anything to do with confidence, the reason could be something else, like you allude to, different/better rates either public traded or non-tradeable convertibles via private co, is that a possibility with what we are witnessing?

GLA

Looks like a few, like myself, are taking the chance. Apparently buys outweigh sells once again!

GLA

Agree £1.00 a share is current fair value, however, I suspect further contract wins will be announced & COP28 is on the horizon, networking will be abound, nods & winks etc etc.

I'll take £1.20, of and I couldn't wait, or take the chance of missing out, I've added another 10% to my holding this morning.

GLA

.......TENNET

GLA

I think it's clear that the Shorts and possibly those employing them, have spotted a gap in the financial calendar on the basis that the further TENET project announcements will, hopefully, start to be announced soon. You notice how the Fudsters on the board imply legacy projects and bond payments etc etc, but make no reference to TENET and other project wins, all they can do is revert to type. It's true that in the past PFC have been caught out doing business in a wholly inappropriate manner, however, that and the resulting SFO case are long in the past. PFC are turning themselves around, and that is no mean feat considering the last few years macro environments and current issues in the ME. The world is still adjusting from Covid and will have to be agile enough to deal with the current and future climate of War, this will continue over the next two decades but during that timeframe the world energy issues and transitions are going to require the expertise that companies like PFC, WG, HTG, WOR et all can provide, both in the fossil and renewable energy mix, that is a given and is assured. The only concern for the service companies is their paymasters and margins being derived. Even though PFC has done well to steer the choppy waters over the past few years, it could be PFC's time to be bought out, as in the future were energy provision is concerned, economies of scale are still going to win out over and above everything else, we will see sovereign states around the world handing out more and more contracts to ensure energy security, and as we have seen, the ME states will be trying to diversify their economies for the future, and that will include securing reliable businesses in the energy sectors, not just trying to create tourism and sporting industries, the real money, and continued security, is through industry and technology, married with energy & natural resources provision and security.

Those that wish to belittle PFC try to persuade that PFC is not relevant anymore or failing, that is far from the truth, imagine if all that expertise that PFC et all provide was to be lost, that simply cannot be allowed to happen, and it won't, our very existence, wealth, and the standard of living we all enjoy would go if companies like PFC were allowed to fail. Whether you agree with a free market/capitalist ideal, which I'm sure we all do as we are investing in shares and commenting on BB's, the truth of the matter regarding energy security does not allow in the long-term companies like PFC to thrive. Therefore, in what way shape or form will PFC, WG, HTG, WOR et al and their business models become part of in the future?

GLA

It should be noted for transparency that I've been averaging down over the course of the past week and a bit. Last week I added 10% and again today another 10%. If the low price persists I will add another 10% over the course of the rest of the week/month. I have enough dry powder for another 20%-30% if these games continue, it would be rude not to when presented with an opportunity like this, the bid pipeline, the recent ratings upgrade, all useful (box ticking) tools for audit, value, and due diligence purposes, IMHO DYOR, ignore the FUD it feels exactly the same as March, and we know what happened at the end of March.

GLA