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Lync. No Dividends planned. I think the NSF PFG proposed merger is an attempt by Woodford to get the £1.4B Company in a place where they can return to the dividend sooner rather than later. I would think that if Dividends would return, then I would expect some Special One’s thrown in to start to reward the Investment Institutions.
Either way I’m starting to believe that this whole thing is a big mess.

£15.000 per Month !!! OMG !!! ...

And the Croatia Play is a smoke screen. Any news ? AST has no money / ability to generate Revenue to pay for New Plays anyway given the BOD Salary.
Colin Communicate to your Shareholders !! Nothing has changed re your style to engage.

What gets me is Colin Hutch lack of communication. It’s like they don’t know each other. Permitting Process v Colin Hutch and we continue to produce Gas at a trickle. I just don’t ever see him being the leader of 100 jobs producing multiple Wells and Processing Plant. If he does / who Wins ? Not the Shareholder ! Don’t make me laugh. Ha.

One thing is certain. The BOD Timeline of Communication/ has given rise to Trading Opportunities!!! So the MM’s Win here.

Donaldson has to buy in and inc his holding in order to best influence the £350m Raise ? You’re not just gonna get £350m subscription if the Investment has lack of Confidence ? It has to be a slam dunk. I’m sure their will be Backers but at what Price ?
At current £350m you are looking at 33% Dilution. Call it 25% and I would think that may fall into acceptable range / so SP on that basis has to climb towards £12 ...

I’ll watch this and go for more once the Share Issue is complete and the consider Increasing my Holding in
“The New World”.

Any MCAP below £1.5B has to be seen as Value surely ??

Marineville / weren’t we saying as much last wk ? Drive SP down by announcing £350m Share Issue. And downsize your Growth Forecast. Then bob in and Average down your holding at Lowball level. Then do not Issue full allocation of £350 / thus further boosting SP and then beat your Downsized Growth Targets.
Donaldson bought heavily in £30 Range so this Playing Out now ?

I agree too. This goes in some part to explaining the reason for delay of Results. They will be negotiating their Retirement handshake. If we are right on this then the SP will deteriorate from £6.
I mean .... The BOD have not even given any confidence re these Delayed Results. Nothing to see here, move along. After 18 month of Turnaround Plan / I suspect the Results will cont to show lack of Detail in the Turnaround Plan ?
Tick Tock.

Marineville. Completely agree with you.
Corruption seems to be rife in the Financial World even to the point where the FCA seem to treat Companies unfairly and leave things “Hanging”. It seems to me any Opportunity to drive down SP’s it is taken.
Short Term gains if you can get them are around but then you go for one and that Tanks. Money dancing around like crazy. Only those close to the Centre Win. We are on the outside.

Imagine if the BOD do not draw on the Full £350m ? It is possible they have released Info on a Worst case scenario. It’s in their hands firmly.

Also if PI believe in the Company then upon any Share Issue then many will be tempted to Buy at Low Price to maintain their Share. Thus driving up and contributing SP to £15 as you say. All a Perfect World though.

Marineville. £15 can come back I agree Post Share Issue. The Fact of the matter will be that the Directors will Own more of the Company for Technically a cheaper Cost yes ? They can claw back any deficit by bringing a dividend in and a few Special ones ?
Any thoughts ?
I’m just trying to reconcile the Outcome of the Share Issue for the Directors.
They will increase their Holding for a much cheaper amount whilst strengthening the balance sheet in a growing Company ? Of course the Plan has to go right Post Share Raise.

I see a lot of Companies now doing Share Issue and Dilution but somewhere along the line that Pound Invested at a Low Ball Price has to return to the pocket from whence it came. It’s low low Risk for any participant ?

Therefore Post Issue / the SP Valuation here should return well and without future Risk / For period of time.

I may have this wrong / but I’m trying to see why what is happening is happening. Nothing done by chance or without reward for Risk.

Also they’ve toned down their Growth commitments on several KPI’s. If all this is factored in to the current £9 SP and I think it must be close / Then I think Directors then inc their holding through Share Issue (Maybe not Full £350m ?).
At this point you think they cannot fail but to make True Gains as if they do not take full £350m SP goes up. If they beat their toned down KPI’s then SP goes up.
For me they have created a Perfect Storm in which to grow this SP and they have Power to influence either way.
The Issue Raise is a Direct offset vs KPI’s. They can draw on what they need to boost the SP from £9.
The Trick is do we believe £9 is the bottom ? Confidence is everything.
In current Metro situation I would suggest that low Confidence is a Good thing vs Future potential Value Creation / Hence we get the £9.

Giro. Imagine if they only draw on half the agreed £350m but friends and family bought in on Open Market at £9 ?
You cannot tell me this does not go off ?

Giro this is what I am saying.
If you are a Director and you have paid Big Money at Now seems High Price / then best thing to do to increase your Share still Further is to create an Investment case to do a Share Issue / This creates a Dive in the SP (Already happened).
Then you have 2 Options.. Buy the wife some / or participate in the Now Lowball Offer Share Raise and Increase your Holding in the Company still Further. Then returneth Share Value and back to £15 / £20 Levels with Value Creation.

They may not need the Full £350 Issue / but Market has surely Factored it in 100% Yes ?

Just think of all PI being shaken Off at the 2 recent crashes. Either you believe the Directors were daft at buying at £30 or you believe they overplayed it and now they get it back sooner rather than Free Market ?

Good Post Kenj. I agree with that.

What gets me is / when anyone Buys in / they only Buy because they think it is a Low Price vs Gains to be had.
Directors here were Showing backing of the Company with BIG PURCHASES in the £30 bracket.

If this £350 Share Issue is to be realise / then I think the Full amount is Factored in to the £14 to £9 drop. Would it be fishy to think it’s the Directors trying to lower their Averages - whilst at same time Protecting their Long Term Strategy and faith in the future being more Stable / by raising Capital by Dilution in order to protect their £30 Buys not so long ago ?

Whether this is true or not / surely they can build Value from here at under £1B MCap ?

The Big Fish can load up once Market Conditions are more certain with 29 March looming. Maybe this is just a Risk adjusted correction on their part and True Picture will emerge by the Summer..

Well MK if Profit comes out at £150m I would say that would be outstanding imo and doesn’t fit with the Negativity re Delaying Results or indeed the SP at £5 before Van the Man decided he want back in.
I’d take that !!!! Something not right here.
We shall soon find out. Or 2 wks late but you know what I mean. The BOD certainly haven’t defended the JAN RNS £150m Profit. Very strange. Smoke and mirrors ??? ...

I was driving home today and thought to myself. CH carries no weight in Oil and Gas. He is an Accountant and it’s all about relationships. He owns a bit of paper and will have to wait until he is welcomed into the family.

Good that Minister has resigned but I think more Delays with a New Minister / yet some Positive spin will no doubt come. Buggenhaggen is paid a handsome fee for “Just being available”.

Yet I do believe I may never see .30p Buy Price again. Boo hoo. Wiping away the tears...

Agree with you GShores.
I think but may not be accurate / that PFG changed date of Results as a Response after the NSF unsolicited bid was made. I believe the bid was announced to public on FRI 22nd FEB.

I look at PFG. The Market now only pays for Profit and not land of make believe or Promise of future riches. How many Shares have Tanked on Profit Warnings. Short sharp shrift.

So PFG Valued at £1.5B (Did touch £5B when HC was consistent £110m and Vanquis £220m Profit. Total £300m +).

Even if HC makes a £50m Loss / surely Vanquis Credit Card pulls in £100m Profit or something gone wrong there ?
So you should be worried if they Post any Loss Overall really ?

So why Delay the Results ?? PFG are in every Post Code in U.K. They are Overstaffed imo (700 at Head Office ?) so plenty of opportunity to Trim and make efficiency savings.

If they Post a Loss then this could Tank to £1B -33% But the very fact they can Trim and turn this around as they are in dry Post Code then I’m looking for £4.50 as Value if Results are at a Loss.

If Results Post £50m Profit then I think they can turn it around and £6 will be maintained as Dividend on horizon with Cost trimming.

When this Company is in order £10 can be achieved within 3yr. I just think the NSF Merger will deliver this Share Price £10 sooner / as a shake up / Everyday Loans NSF is powerful.

The Results I await with much interest. I’m not Investing until I see them. The Risk is too high without the knowledge.