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I wouldn't take 30p. There is at least 10p in the short's closing.

I would hope any pricing for a RI and D4E would take the short in to account. Hopefully Asfari is on the case regarding this. Thank the lord we have someone on the inside because this all stinks of a PI stitch up. They could have raised the £20m interest payment with a RI and at the price last week it would have only resulting in a 20% hit. We've taken that hit today with nothing to show. 8bill order list with only 700m debt. This company is on the up and the finance companies want it all for themselves.

I look forward to any interviews he does in the coming days/weeks.

Asfari will not have left easily. I imagine it'd be acrimonious. PFC's suggested financial restructuring and D4E will have wiped him out. No one has as much at stake as him. What he does now is the question. Now he is outside the boardroom he can act completely in his own interests. He could sell out if he believes the s*** is hitting the fan, trying to salvage what he can. Or he could engineer a takeover.

Easy!

Huge bullish divergence on the monthly chart dating back to 2015. Shorts close out and then buy in as work on $8bn in orders begins, Malaysian sale made and deal done on reimbursement for extra costs on Thai Oil Clean Fuels contract.

It was great news Friday. Creditors willing to wait and contract now guaranteed. PFC no longer priced to fail. Surprised at the drop this morning but early days yet. With Whitebox closing out they're short a bit more, others will be getting twitchy.

Do people think it relates to tomorrow morning given it is 8pm Perth already?

Even more reason for him not to let this domino fall.

Plenty of autotrades on the buy side today.

Where did you read this? What's the guy's name?

Still hanging in here. In fact added a little. Asfari doesn't want to dilute, he'll lose an absolute fortune, handing over the company's future success to the creditors. He's on a million for every penny rise in sp. Liquidity problem rather than a debt problem, game's a foot hence rolling deadlines. Can we get out of the wrist burn without submitting?

Lucky bugger.

For the record this was the note;

I’m a share holder in Indus Gas and have a query about the last two RNS’s dated 17th May ‘24 and 25th June ’24.

The first seemed to indicate consternation on behalf of the BOD about the ailing share price. That they didn’t understand its weakness.

The second, only a month later, showed that the license for the gas fields Indus exploits needed to be renewed this August.

Would the weakness in the share price not be a consequence of this uncertainty? Does the BOD not see this as a problem?

Could you please clarify the likelihood of the license extension being obtained, the criteria that needs to be met, and what are the consequences for the company should it not be.

I've chased twice asking for clarity about the disconnect between the two latest RNS's. The first RNS despairing at the lack of value, the second RNS highlighting an obvious reason for it. No response.

Shocking.

Three days to go. Asfari on the blower desperately trying to close a deal before the creditors swoop in and half his stake. PFC gonna get bought out and creditors want to take it off of PIs so they make the money. Asfari standing in the way but he better get a shift on.

Some of those names haven't been mentioned on this board so the article might be actually based on 'real' substantiated rumours! It feels like most auto trades are on the buy side which I always feel is a positive. Still nervous though.

Bond price usually updated at noon or 1pm. If no sells that has to be a good thing. Gulps and holds breath.

This is all primed for a low ball take over. The psychological toll on most share holders will have them bailing at the slightest hint of money back in their pocket. That said anyone looking at the financials might think twice. I notice they haven't yet put the webcast up for reviewing.

CV Were there any other take aways from the webcast? I missed it. Was there a Q&A?

Yep PFC ADR interesting. These things tend to go to the wire and it seems that wire is 16th June. While the creditors and board seem to be in a stand off a third party outside has decided to say they have had enough and to get a fking move on. If it is Tennet it'll be massive, it'll bring down the curtains.

The financial statement has a good deal more info than the RNS. One stand out detail is one of the new (large) contracts will be deemed in default if no performance guarantee is secured by 16th June. ie the company offering the contract will walk. This is pivotal. While in general the can seems to have been kicked down the road this could make or break any future income. PFC and its creditors can't be wooly when it comes to this date. They will both suffer. The company will be worth a lot less without this contract.

Will be interesting to see if the shares start to trade again. The directors have signed off the financial statement with PFC as a going concern. The auditors wouldn't. Which side will the FCA fall to.

As an optimist I think a solution to the problems will be found. The company's value is in its contract not in its constituent parts. Creditors would lose money going in to insolvency. That said I can't believe how little progress has been made in the last month. The message is seemingly exactly the same as on 29th April. And they state any restructure would hopefully be sorted by September! Creditor support for rolling over interest payments needs to found every week now.

It reads like a shambles. If they have made this little progress how are they going to come up with a value for an D4E swap. We really do need a left field solution like a takeover to find any SH value. This optimist is on the turn.