Member Info for Davde

Looking forward to tomorrow's update and how they will respond to Coast Capital's floatation of US operations. Their comment re NBV was interesting as not sure if implication is a lower or higher floatation value! If FGP do not have a good response think a EGM very likely. Looks like something could be happening soon.

I have read the press and the RNS and sure there will be other closures/refurbishments/conversions in future years as part of the business transformation. They seem to think they have sufficient resources to achieve their objectives in the coming year. Time will tell, in the interim I am entitled to my unashamed view that this is an opportunity, you are also entitled to yours, that RTN is a basket case and will be 5p to 10p in a month or so. One of us will be right (long) and the other wrong (short), then so be it!

The impact of Corona virus on many businesses at present, is fear not fact. Appreciate facts not fully known yet but scenarios are. Planning for worst case seems to be the market view! In 6 months it is highly likely we will be back to normal with a dent to profits. Some news on realising shareholder value e.g selling greyhound, will easily repair current short term damage to share price and may even set new highs! As usual I live in hope and as ever very patient! GLA

RTN annonced closure of upto 90 stores, some will be converted to Wagmana, so not sure where all Frank and Bennys being closed! Anything to support this claim! Wagmana can service debt look at the RNS. The Corona virus will not last forever, yes it will impact profits this year but would be very surprised if Its game over for RTN at least for foreseeable future. This is an opportunity not a threat for positive thinkers!

RTN annonced closure of upto 90 stores, some will be converted to Wagmana, so not sure where all Frank and Bennys being closed! Anything to support this claim! Wagmana can service debt look at the RNS. The Corona virus will not last forever, yes it will impact profits this year but would be very surprised if Its game over for RTN at least for foreseeable future. This is an opportunity not a threat for positive thinkers!

Without the Wagmana purchase my view is that RTN would really be struggling now. Accept the bond debt eats into profits however the interest is easily serviced from profits currently. The decks are being cleared for removing under performing units which will improve profitability. For me the only issue is the potential further restructuring costs that will be incurred, we will need to wait and see! In general though I think good progress is being made and future plans tick the right boxes to strategically reposition the RTN group for good profits in future years, the corona virus impact hopefully will be short-lived and a small dent to profits again we will need to wait and see but fundementals good in my view. It maybe a couple of years before we really see results improve and dividend reinstatement but it will come. GLA

Loss was a consequence of nett extraordinary items of £112m. Before this taken off, profit before tax was circa £75m. After, statutory loss declared of £37m. The final results RNS note 12 gives more detail.

Hopefully when Corona virus panic subsides we will see SP move upwards again, we will see.

Interesting results with a lot of positives. Good increases turnover and profits in growth sectors. The write off re leisure values, hopefully no further write offs for next few years although suspect more rationalisation costs. Do not think all will close as some will be conversions. Interesting talk re anticipated lease cost reductions, we will see how successful that is! They seem to have a very focused strategy and profits should increase as a consequence. Looking good to me and when the furore re corona virus subsides hopefully SP will rise but cannot see it breaking 170 until divi reinstated we will see. GLA

Results tomorrow? Hopefuly good!

Everybody had their own investment strategy and this can vary from investment to investment. Its entirely down to your own objectives and risk appetite that determines what you feel comfortable doing. My investment in PMG is long term, I have very limited downside on this share even though I have been a holder for many years as traded my average down. PMG is trying to become a diversified low cost energy producing company and has a good chance of doing so in a difficult enviroment. If it comes good, £1.00 a share is a modest estimate, but it may not. What I do know is my investment is fairly secure given cash in hand, land assets and producing assets should easily equal current MC. As ever patience required but 2020 will be the year we should see significant progress. GLA.

Rivaldo thanks for post. I do not follow (suscribe) him! We may need to wait until April to get full uplift in SP as sure figures will be pleasing. The issue re liquidity is my only concern, in that it may depress SP. A promise of a dividend could attract more buyers going forward so that could help!

Very encouraging lets hope onwards and upwards from now on. The market capitalisation is still very low given order pipeline and potential profitability in 2020! Corner turned at last I hope GLA.

Stonehenge is an energy portal for ley lines if you are a believer, so you never know could be PMG's next sortie into energy! On the other hand quite happy with more traditional energy sources and awaiting any update with anticipation regarding these however the summer solstice may come first!

Neil thanks for response helpful.

Neil how did you estimate the $90m as it seems low to me! Agree re TC negotiating skills. I personally would favour retaining a sizeable percentage but do understand the rationale for selling the lot if the initial capex would require significant borrowing or fund raising.

Thank you for your responses, very much appreciated. I like the thought of a NPV of $10 a barrel and the impact that valuation would have on the SP as a minimum!

Does anyone have a feel for what the extraction costs will be for the GPA? I understand the tie back arrangements reduce costs and other efficiencies in UK oil industry have reduced costs in recent years. Reason I ask is that I am trying assess future profitability based on my assumptions about future oil prices! ( guess). Doing so to determine a valution figure for GPA should it be sold off in part or whole as I am unsure of benefits/risks at present of doing so! Thoughts wecome.

In my view the theoretical loss incurred by LTH's was circa 10% as a consequence of share dilution. However if you add back in the farm net asset value of £5m (after loan) theoretically it adds back circa 10% to PMG value. So no loss incurred by purchase. Market sentiment re 3rd party transaction is another matter! I await with anticipation the outcome of renewables feasibility study on the farm and the subsequent implementation strategy. Hopefully this will restore market sentiment re PMG as a diversified energy supplier. I do feel the pieces of the jigsaw are coming together at last and 2020 will be a pivotal year in determining the future for PMG. I for one remain confident in TC and the BOD, that they will deliver big style but you never know as all these projects carry risks, both known and unknown. Time will tell as always! GLA LTH's and hopefully we will all have a prosperous New Year.

Todays RNS is good news imv. The interims showed losses at US transit and school units related to insurance issues again! The current strategy of expanding these businesses either organically or acquisition (the latter being potentially a mistake as significant capital required), requires careful consideration. Perhaps a return to concentrating on First Bus as the core business is the way to go especially now as increased profitability is on the cards. All divisions will need significant investment in coming years to comply with climate change, FGP does not have access to unlimited capital so it needs to decide what will make maximum returns for all stakeholders. I await with interest outcome of review.