Member Info for fairdealer20

What are you talking about? What fact are you referring?

The fact is when Paul Barret left office in 2011, 12 years ago, the SP was 9.5p. The SP is now 1,1p. Understand Breznef has superior knowledge of the company history, however Is PB to be held responsible for the last 12 years.?

Any criticism of Paul Barrett should be directed straight to him and not through a Public Forum. If you are still a member of the group, that is the right and proper way to proceed, otherwise your support for Will Holland could be undermining PB and whatever he is doing..

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Pardon, I stated the obvious, whereas the attack on Paul, who incidentally I do not known to me, seems unprovoked. The support for a CEO. who has scant regard for Shareholders is beyond belief, Maybe there is another agenda here

Let's get it right. Paul Barret left the company in October 2011 when the SP was 9.5p, Will Holland came in October 2022 when the SP was over 2p. It is not rocket science to get the message. Anyone who makes such condecending statements need to review the facts.

Anyone still in the Group should either put issues through the group leader or at least copy him in. That is the polite way, otherwise the group's effort to get some sanity into how the company is being managed and remuneration awards, will be in vain.

Barchid yes it was Platinum on the majority of info, but Vanguard now appear. I am not sure if the 2 are connected or whether there were 2 separate offers

Also remember the Vanguard group offer of over £1/share, in early 2021 and we were not informed until after the event.

Barchid, Absolutely correct, as stated with the SP at these levels a Rights would be virtually impossible.

It does amaze me at these levels some Private Equity has not come in and literally stripped the company. My conclusion, the JV with Carlsberg is so rigid there is no latitude for capitalists to extract profit.

The company have been offering 30% discounts on meal for a few weeks now, probably to bolster Pre-Christmas income.

It remains to be seen if Justin will have some magic touch??

If the terms were right WH could persuaded otherwise he may just be left in charge of the "Titanic"

Do you, Serif, have confidence in WH? I certainly do not after his disdainful attitude towards PI's There is no excuse, in my book to openly state trustees own shares and not those who payed good money. Disgraceful attitude.

It's a catch 22". They can only sell so many Pubs otherwise be in breach of the JV with Carlsberg. Sellins Pubs may release capital to be taken by Funders, but then income will decrease, making it harder, if not impossible, to achieve Sales target of £1b.

A rights issue could be the solution, however at current SP levels difficult to get away. MARS should have conducted a funding issue 3 years ago when both M&B and Whitbread did so. That was a time when funds for the Hospitality sector was comparatively easy against today

It seems to have gone very quiet regarding the 2 vacancies that WH is determined to fill. Whether necessary or not has already been debated. It would be ideal in many ways to see the 2 founding members appointed and not some unknown pals of WH??

The Elephant in the room is the continuing and uncertainty that revolves around the Political shambles. Remember Shell have already had their fingers burnt by the Netherlands Administration when the giant Gronnigen Field is being shut down.

The Political Dynamic is not a good background for many businesses, large and small, to commit long term investments.

We are living in strange times!!

DP, cuckoo makes some valid points. Have seen it before with AIM co's.... " we are in negotiations with interested parties". The negotiations then drag on, all the while cash is being burnt ( interested parties know this and prolong talks which weakens the main company's position).

The phrase which concerns me, from Shell, "an investment decision is yet to be made". The gas is there in massive volumes?? UK Gov have demonstrated a conviction towards energy security, i.e NSTA have issued licences in round 23 on the basis production from field can be achieved quickly. The main beneficary of these licences is Shell. So far no mention of Pensacola which is in close proximity to undersea distribution network. Against this background, an investment decision is a No Brainer!!!

Any re-funding will be at the behest of existing Banks who already have the company on monthly watch following breaches of covenants.

It is to be hoped Justin Platt will instill a new direction, something I put forward 3 years ago

Are Investors to ignore the £24.5m valaution impairment highlighted by Christies who have conducted on site valuations in July? Christies are now commisioned to value 1/3 of the estate each year on a 3 year rolling basis. These valuations are correcting the inhouse desk top values previously in place during and shortly after Ralph Findlay's term in office. True values are now being undertaken, or are they to be dismissed in favour of the Accountants you favour?

No doubt the values were better in 2013!!!!

Is this "he's behind you" joke that you re rehearsing for the innumerate at your'e Pantomime?

Loan costs are beginning to hurt. Interest swaps have created a loss of £20m before tax. This maybe a one off, however loan debt of £1.5b must be maintained. Total debt is recorded at £1.5B. Loan debt before Leasehold liabilities amounts to £1.15b, which is a decrease of £31m against 2022. The aim to acheive £1billion by 2026 presents a good if formidable target., but still too high for a company of this size.

Resuming dividends are a distant wish for those who came in at much higher SP.anyone who says "who cares" should remember those long suffering shareholders.

With a NAV more than 3x the existing SP, the time was when Asset strippers would be crawling all over this stock, but for some reason it has not happened.

The Directors are at least prepared for possible further economic torpor. Read their "Going Concern" statement .

WE have just over £6m cash now,. With 2 drills next year, unless fully carried, GS and co will need to pull their fingers out, otherwise here comes a fund raise.

Confusion reigns? SC's calendar is not only 10 years out of date, he believes the new CEO Justin Platt, is already at the helm. He begins on 10th January 2024, until then Chairman William Rucker is managing the Company.

Thank goodness SC is not in charge of PR ???

As always DYOR.

Whilst we have a CEO who treats this company as a Sole Trader would, is there anyway without a change of management.

In my time of dealing with Directors agreeable or not, this is the first time I have experienced such blatant arrogance towards Shareholders.

I would hope discussions are ongoing with our group's leaders to enable a profitable future for us all.

Dyas are a drilling company. Is it likely Shell did a quid pro quo deal?

He needs taking to task on the use of such expressions. It just shows what a dismissive attitude WH has towards ordinary PI's. SHAMEFUL