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Thanks Dogger, appreciate the update.
Can someone give me a general update as to what is going on with Premier foods and when are we getting any positive news on share price and value.
Long time holder of PFD and would like to release some £££ and clearly cant at the moment.
Are we getting a new CEO?
Best
This is a disgrace.
Feb 8 (Reuters) – Oxo-cube maker Premier Foods said its former chief executive will get at least 1 million pounds ($1.3 million) in an exit deal after he stepped down following a shareholder revolt.
Gavin Darby, who led the Mr Kipling cake company from 2013 to the end of January this year, drew investor flak for failing to revive the business after rebuffing a takeover approach from U.S. food maker McCormick & Co Inc .
The company's shares have lost nearly a third of their value since McCormick abandoned its approach in April 2016.
Almost 41 percent of Premier shareholders in July backed an attempt led by activist hedge fund Oasis Management to oust Darby. In November, Darby agreed to step down, but said it had anything to do with the shareholder revolt.
Darby will be paid 863,557 pounds for his 12 months' notice period, covering his salary, contractual benefits and pension supplement, the company said. Darby will also be given 30,000 pounds for advisory services and legal fees.
In addition, he will get 638,291 shares, worth about 238,401 pounds, based on Thursday's close of 37.35 pence.
The company said it was meeting its legal obligations under the terms of Gavin's contract, but declined to comment further.
Oasis Management was not immediately available for a comment.
Part of the share scheme I'm afraid...just annoying for long serving shareholders watching them picking up cheap shares ... hopefully move back over 40p soon
thats 24.59% increase in 1 month, clearly something happening!
Tough times for the food sector, but this week proves we have the momentum at present.
HTTPS://WWW.FOODMANUFACTURE.CO.UK/ARTICLE/2019/01/23/DESSERTS-MANUFACTURER-CLOSURE-TO-COST-MORE-THAN-600-JOBS
something clearly going on behind the scenes, this was touching 32, 2 weeks ago, now its touching 39...
and this happens... bizzare !!
545.50p
-8.10p ( -1.46 %)
Personally, this looks like it does have some momentum and is moving in the right direction...
fingers crossed, but the city appear to have taken the results as ok and as you say, its not plunged.
Surely there will be an appointment soon. I've not seen the position advertised anywhere, which is strange, normally this is part of the recruitment process, even with the big search firms. A search assignment usually includes, National advertising.
Once the new CEO is announced, will this not rise, just on news the ship has a new chief at the helm? Thoughts? I thought this was generally the case,,,most businesses go down when they announce a CEO is stepping down,due to uncertainty..... but then rise when a new CEO is announced.
Again more buys than sells...continuing the momentum!
Looking good again now
Interesting read, these guys appear to know what they are doing in business. So the planned closures have clearly been studied and probably a good plan is in place.
https://pitchbook.com/news/articles/billionaires-buyouts-and-basketball-the-gores-brothers-take-on-private-equity
Algeria's Sonatrach awards gas contract to Britain's Petrofac
ALGIERS, Nov 27 (Reuters) - Algerian state energy firm Sonatrach awarded a contract worth 60 billion dinars ($506 million) on Tuesday to Britain's Petrofac to boost gas output at the Tinhert field by 4.7 million cubic metre per day, Sonatrach's CEO said.
The value was about $100 million less than originally announced. Sonatrach CEO Abdelmoumen Ould Kaddour said the difference in value was because part of the work, worth 10 billion dinars, had been awarded to Algeria's GCB.
The project in the Illizi region was expected to come online in 36 months, he told reporters.
Topped up this morning !! IMO more contract wins this should be back to 600's very soon...in this for the long run... Keep earning divi's along the way.
This is really good news.....the firm's first-half results have shown a 14% profit rise.
Adjusted pre-tax profit was £30.2m, up from £26.4m in the same period a year earlier.
H-hi
I think he knew there was a potential sale and so wants to leave on an exaggerated high...if he gets a deal over the line before 31st Jan and the share price goes up...it's going to look better. Just on the assumption there maybe a sale, the share price may move northwards over the next couple of months.
Agreed, and I've been in the same boat.....but he's going and we have a date, so it's amazing news...
"Having today announced a new strategic initiative for the business, I have decided to step down as CEO on 31st January 2019, which will mark the sixth anniversary of my joining Premier Foods. The Board will now begin a recruitment process for my successor."
"Having today announced a new strategic initiative for the business, I have decided to step down as CEO on 31st January 2019, which will mark the sixth anniversary of my joining Premier Foods. The Board will now begin a recruitment process for my successor."
"Having today announced a new strategic initiative for the business, I have decided to step down as CEO on 31st January 2019, which will mark the sixth anniversary of my joining Premier Foods. The Board will now begin a recruitment process for my successor."