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@Apo, love your confidence and you never know but the words are

“ to restructure its debt which would result in a significant proportion of the debt being exchanged for equity in the business.”

“Would” not “may” or “might,” but would ( aka as will) - the killer is on that one single word.

@warren, gee you seem to have a very low bar when it comes to PFC mismanagement and their RNSs. If you think the BOD were thinking of you and me ( if you are an investor) then why the mixed messages - contrast their reassuring RNS in December? And their chirpy disposition elsewhere. Look at the SP fall from the pounds to where it is now, and you thank them for this???? When they F*ck you, then at the very least, know you know.

I hope you are right MaryBr but there has been such little short reduction and that last RNS just destroyed any hopeful speculation, we just know PFC don’t give two hoots about its shareholders. Never was its pinned tweet on moderating its social media more necessary. I really believed in a recovery, love to invest in engineering and energy sectors especially ones which I think might have an edge. Got this one wrong. Fooled by a terrible CEO and BOD. Really terrible all IMAO of course but thems the breaks.

Yes it could be a wipe out but where there’s hope, there may yet be honey 🍯. GLA

How are all my Rollsy friends doing?

🤷 i wonder

https://www.upstreamonline.com/field-development/trio-in-frame-for-strategic-adnoc-offshore-expansion-scheme/2-1-1632730?zephr_sso_ott=XBlHR7

Still holding, only just.

Rationality says sell, with contract backlog reason says hold but not looking good at all…

@Dancuk, all I can say is that RR is saving my bacon, 6 figure sum gain there, now likely to be offset by a 6 figure loss here in PFC. ““Thems” the breaks,” as the pride of Britain Boris once spouted and luck either way is the thing. GLA.

Q1 2024 revenues slightly ahead of guidance; no change to full year expectations

Today and yesterday people are buying……

As an investor here, what can you do? Solid good news re contracts versus other RNS riddles????

Sorry to hear that PFC, I’m in quite heavy too so know the pain of this one. Take care.

A question for any of you legal minds out there. The last two RNSs, the former asserting that all efforts were being made in the interests of the shareholders and the latter RNS stating that there is likely to be a significant debt for equity solution. On the face of it, the first RNS seems directly misleading. Rather than going down the regulatory route is it anyway possible to take a civil class action case against the board of directors or has this ever been tested in the corporate law setting?

@Talies, my thoughts exactly.

That RNS on Friday brought Lewis Carroll to mind - a fishy riddle indeed, holding here but wish I had never bought in - something fishy here big time..

First the fish must be caught.”
That is easy: a baby, I think, could have caught it.
“Next, the fish must be bought.”
That is easy: a penny, I think, would have bought it.

“Now cook me the fish!”
That is easy, and will not take more than a minute.
“Let it lie in a dish!”
That is easy, because it already is in it.

“Bring it here! Let me sup!”
It is easy to set such a dish on the table.
“Take the dish-cover up!”
Ah, that is so hard that I fear I’m unable!

For it holds it like glue — 
Holds the lid to the dish, while it lies in the middle:
Which is easiest to do,
Un-dish-cover the fish, or dish cover the riddle?

@maiden, that’s my thinking too. With the backlog of 8 billion, co. now grasping the nettle, I’m holding for now. Good luck.

@Yorkshire. I am a LTH and find it all difficult to stomach. On the bright side we are back to an SP of 2 weeks ago and nothing finalised as to what will happen. But really this was the news we didn’t want to hear. It is in plain English.

“The Company has engaged and remains in discussions with its lenders to restructure its debt which would result in a significant proportion of the debt being exchanged for equity in the business.”

If SP stays in mid 20s - then need to wait and see the detail. But this RNS was the worst possible - talk about breaking bad news, with no detail on next steps. It’s like telling you, you have some terrible disease and we’ll cut your leg off but we don’t know if we need to amputate two legs and maybe an arm, and oh we might come up with some prostheses etc. watch this space buddy and have a nice day and by the way thanks for your cash, really great for the back orders.

In auction I guess, not looking good.

PFC have given the worst RNS possible - passing its huge debt to shareholders and really no detail. CEO said this would not happen last year. I imagine it’s like being dumped by text. God knows where the SP goes this morning. GLA.

This is no pump and dump, something intrinsically different is happening. This co. has been played to f Zack and now normal order will reassert itself. All IMO but I heard it on the grapevine. As always DYOR and GLA.