An opinion19 Aug 2019 13:23
I have been a shareholder here from around 2015. Pathfinder is my largest holding and has been for some time now. I invested in PFP as I see it as a good risk to reward investment.
In my personal opinion, I think this company needed Richard to break the impasse last year. The fact that there is now dialogue is very positive. Recent investors may not realise what a significant step forward this was. Paying the new BoD with shares at premiums to the current price was also a positive move. Only being paid on a positive deal outcome or increase in share value - nothing is more incentivising for the BoD. I am pleased that Richard is continuing to take an active role here and maintains such a significant holding to support his words of faith in the conclusion. I would encourage him to continue his engagement on this board as some investors, sitting quietly in the wings, appreciate these updates.
Regarding the timeline, however frustrating it is waiting for updates, I am pleased that all official RNS’ suggest that an optimal structure and funding is being ironed out to maximise value. For me this is preferable to the BoD having cobbled something flimsy together to just meet a broad early summer deadline. I have been here for too long for that, and some investors have been here far longer than me. I do agree that an official corporate update from PFP would be desirable at this stage to formalise the current state of progress and to replace some of these rumours with solid facts. However, in the knowledge that it would be a legal requirement for PFP to release an RNS if anything significant had changed, I will continue to sit tight.
A deal is in all parties best interest.. Everyone wins, and wins big.. I have always liked that about this share. If the deal doesn’t go through, we go back to a stalemate position and a 1bn project continues to sit idle. No one wants that again after all these years. At the end of the day, if your view is glass ‘half empty’ or ‘half full’, all of us are shareholders sitting in the same boat and I wish everyone the best of luck.