Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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
FYI: https://www.petrofac.com/media/stories-and-opinion/adnoc-gas-delegation-recognises-petrofac-s-nationalisation-efforts-in-the-uae/
Certainly looks like they are all starting to worry at ADNOC & PFC...not IMHO
GLA
Position Holder Name of Share Issuer Net Short Position (%) Position Date
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
Astaris Capital Management LLP PETROFAC LTD 1.29 31/10/2023
Millennium Capital Partners LLP PETROFAC LTD 0.70 27/10/2023
Astaris Capital Management LLP PETROFAC LTD 1.16 26/10/2023
Astaris Capital Management LLP PETROFAC LTD 1.08 25/10/2023
Astaris Capital Management LLP PETROFAC LTD 0.98 24/10/2023
Astaris Capital Management LLP PETROFAC LTD 1.02 20/10/2023
Astaris Capital Management LLP PETROFAC LTD 0.92 18/10/2023
Millennium Capital Partners LLP PETROFAC LTD 0.60 18/10/2023
Millennium Capital Partners LLP PETROFAC LTD 0.52 17/10/2023
Qube Research & Technologies Limited PETROFAC LTD 0.48 17/10/2023
Astaris Capital Management LLP PETROFAC LTD 0.73 16/10/2023
Astaris Capital Management LLP PETROFAC LTD 0.66 13/10/2023
Astaris Capital Management LLP PETROFAC LTD 0.53 12/10/2023
Millennium Capital Partners LLP PETROFAC LTD 0.41 04/10/2023
I would add a bid whether a private or not can be helpful when renegotiating terms on a revolving credit (debt) facility.
GLA
What's wrong with stating an opinion if you feel the SP will recover over the medium to long-term, horses for courses, just like your own doom laden prophecy.
I very much doubt PFC are going under, if that doom laden prophecy ever came near to happening, PFC would get taken out, the board and large shareholders would never allow the company to fail. Please stop peddling miss truths once again. I'm hopeful they will get taken out, but based on the succinct overview by PFCvetran, the value is there, and will shortly be added to with the backlog pipeline value/turnover/cash thru the business improving. Would Apollo et al, or an industry peer allow such a thing to happen, never. I see the same situation happening at PFC than what happened with WG.......I'm expecting a bid, and our three stooges have only served to confirm that likelihood is more on the cards than ever before.
GLA
Crapper,
You speak some truth, but only about the past. Are you implying that illegal activity is continuing, yes, or no? If the answer is yes, which you seem to imply with a rather vague “the truth will out” statement, then without presenting supporting further details to support your statements and abusing everybody else, then that is libelous and also bordering on slander.
I hope Petrofac see your statements and pursue you through the correct legal avenues, or alternatively name names and lets see if a slander case is brought against you.
Either put up or shut up you, what a dull life you must lead, you are a true keyboard warrior, and as all can see on here, is not slander, just facts based on your posting history. So please furnish us all with some ‘new’ evidential proof to back up the narrative you are running with, I bet you won’t, because you cannot.
FYI: Apologies if already posted, next Warrington BC meeting Agenda pack mentions Moulding Capital on pages 59 & 68:
https://cmis.warrington.gov.uk/cmis5/Document.ashx?czJKcaeAi5tUFL1DTL2UE4zNRBcoShgo=mcLa1Ed6DuTUmQvdPNNUWWmzjL2QHWSeK4OKHleIX1%2fm721pwgv0dQ%3d%3d&rUzwRPf%2bZ3zd4E7Ikn8Lyw%3d%3d=pwRE6AGJFLDNlh225F5QMaQWCtPHwdhUfCZ%2fLUQzgA2uL5jNRG4jdQ%3d%3d&mCTIbCubSFfXsDGW9IXnlg%3d%3d=hFflUdN3100%3d&kCx1AnS9%2fpWZQ40DXFvdEw%3d%3d=hFflUdN3100%3d&uJovDxwdjMPoYv%2bAJvYtyA%3d%3d=ctNJFf55vVA%3d&FgPlIEJYlotS%2bYGoBi5olA%3d%3d=NHdURQburHA%3d&d9Qjj0ag1Pd993jsyOJqFvmyB7X0CSQK=ctNJFf55vVA%3d&WGewmoAfeNR9xqBux0r1Q8Za60lavYmz=ctNJFf55vVA%3d&WGewmoAfeNQ16B2MHuCpMRKZMwaG1PaO=ctNJFf55vVA%3d
#putuporshutupmatt
GLA
So a revolving credit facility and APB are just part and parcel of normal EPC day to day business model......well I never new that, you made it sounds like something really scary.....again!
When the order book dries up I may start to think about it a bit more, oh I forgot the largest contract award in PFC history has recently been granted along with other large contracts, that is such a bad thing, right?
Thank for the education exercise in copy & pasting.
GLA
........and at what % levels are these ABP. If you are going to try and scare investors, please add in some tangible % figures/levels of the ABP. You make it sound like a scare tactic, but off course you would never imply that, would you!
GLA
Looks like the website has had a subtle facelift, definitely feels less clunky than before.
https://mobile.asda.com/affiliate-programme
GLA
Don't worry Matt's at the wheel: https://www.bbc.co.uk/news/uk-england-manchester-67124988
NB: Seriously, hope all concerned pull through.
#gGLA