RE: Today’s very different15 Apr 2024 20:10
I have a small holding here and as at Friday am now down. Clearly very naively I was wondering how PFC was still managing to secure new contracts when there was clearly so much concern about its solvency. Unless I’m missing something, the answer really does appear to be in that RNS. They weren’t really securing contracts, they were agreeing contracts that remain contingent upon delivery of guarantees which it seems they are simply not going to be able to deliver. In their absence this is finished. Why would a competitor launch a hostile takeover when they can pick up the pieces for nothing instead and probably charge a premium for stepping into the breach? Happy to hear alternative points of view but I am seriously considering cutting my losses here. I don’t normally do that, and would usually let a small punt like this one ride, but this looks particularly bad to me.