Member Info for ivorgriffiths

The RNS is always leaked and results in significant increases in volume. Noting has happened.

Another c0ck

Volumes are very, very low. The short positions have 50,000,000 shares so of there was a short squeeze volume would be 100,000,000 minimum. Most will have made their buys or sells or be holding at high averages.

The longer we hear nothing the more likely the BOD are slowly pulling a rabbit out of a hat. The data does suggest there is a solution within receivables. And creditors want cash not a billion penny shares.

A lot of the bailers who sold out on a loss are on their knees begging to be proved right. Previous rampers are now desperate for bad news and if there isn’t any simply regurgitate out of date news that makes no difference to anything. No one other than the BOD can know if PFC are trading through the cash crunch or not but the data suggests it is possible.

Just regurgitating meaningless news. Pal.

This is old news.

Bricktycoon12

Yes, they show a loss on the balance sheet on that day. Does not mean they are trading at a loss. PFC are having to provide weekly reports - management accounts probably - to a creditor. My point is that if they are trading at a loss AND cannot pay the coupon and are defaulting then they are wrongfully trading which is an offence and attaches personal liability to the BOD. They would have to cease trading and voluntarily liquidate. They have not done that so must be making money. The balance sheet can be manipulated to avoid tax. Legally of course and they have subsidiaries in many jurisdictions to facilitate that.

Paul

There may be a partial D4E but there may not be one at all.

Paul

The data from the accounts show that it is possible to trace through. PFC must produce weekly management accounts to prove continuing solvency. The latter fact is reported in an RNS. The moment they are trading at a loss they must enter into insolvency. That is the legal position.

What was said and posited two months ago is largely irrelevant. We have absolutely no idea what is happening day to day regarding cashflow. BECAUSE THEY DO NOT HAVE TO TELL US.

What we do know is that the moment they are wrongfully trading the BOD have personal liability. Given the history of the BOD and corruption issues tbey would be prosecuted. We can reasonably conclude they are currently - somehow - trading through the cash crunch.

We do not know if PGs have been paid or not. Given that a failure to do so would result in an adverse impact on solvency it is likely - not definite - that they would need to report that. They have not reported that.

The BOD is top heavy with financial specialists.

I know it is frustrating but no RNS is good news for LTH.

A takeover is second best to trading through the cash crunch as the shares will be worth significantly more if they can trade through.

Not sayong tbere

Paul

I am saying the data shows there is a path to follow to trade through. I am saying they do not have to report very much at all. Usually very bad stuff has to be reported. One creditor wants management accounts weekly to extend the facility.

If petrofac were now trading at a loss they would be wrongfully trading and every director would be liable for the debt.

But they are still trading so they are trading in surplus - like the data shows. The creditors do not want a billion shares worth a penny, they want cash.

I have no idea why the BOD has been so alarmist and suppressed the share price, and can only guess.

No RNS again though, eh? 😂

Paul

The fact is the BOD don’t have to report anything unless they are legally obliged to do so. Not sure why you think I am suggesting anyone buys, I am not suggesting anything just speculating on potential outcomes (guessing - like you are) and stating facts. So, if there is no RNS between now and the next accounts that would be good for LTH. The bond price is in the toilet because nothing has happened to warrant an RNS. There is no certainty only quessing.

You cannot afford a lawyer letter and if there is an arrangement they don’t have to tell you squat. They just don’t.

The going concern statement is deliberately alarmist. I do not know why. But the accounts have to be accurate and are the only reliable source of data. It is feasible that the BOD trade through the cashflow crunch.

A D4E will be avoided by the BOD if humanly possible. They own a lot of shares.

The BOD do not want a takeover so unless there is a hostile approach they will never report on an approach.

The reporting requirements of a BOD are very restrictive as they are legally entitled to manage the company without a running commentary.

No RNS this week, month, quarter or possibly year. Good news for LTH but a bummer for those looking to cash in on an insolvency or D4E.

As for the price it is not going to move much either way. There will be 5-10% manipulations of course but risky backing those.

It’s a waiting game with no sudden short squeeze, massive rise or fall in price.

Patience is power.

They won’t say a word for weeks. Even if they have agreements in principle they don’t have to. They don’t have to tell us about every bill they pay, cashflow or even bills they miss. They don’t have to tell us about takeover approaches or contracts.

They don’t necessarily have to do anything other than prepare and publish annual accounts.

There will be no RMS until the BOD feel safe.

Not even 3,000,000 traded. Until there is an RNS or, ben more unlikely, someone starts to build a position. 12-15 is where it will stay. Probably for weeks and possibly months. If there is a short squeeze there will be 200,000,000 traded. It is grinding along the bottom and if the BOD manage to trade through and avoid a D4E, which is achievable on the data, there will be a steady rise. But once it is obvious that the BOD have done that then there will possibly be a short squeeze if a positive RNS appears in the next few months or there are plausible takeover rumours. Even if there is a D4E - and it is not a given there will be a D4E as only 39% of creditors want one - this will be viewed positively and could also result in a rise and possibly a short squeeze. It’s a long term share and a breakout is not likely at all in the short term, but as always DYOR.

Until something is reported 12-18 os where it will stay, possibly for weeks or months.

Nothing is going to change quickly unless there is an RNS or a solid rumour of a takeover. As time goes by with no RNS the price will slowly rise. A positive RNS or announcement with no negativity will steepen the upward curve. The end of the month may result in an RNS. Nothing going on now though. Not a thing. This is a long term share i am afraid.

They have nearly 60,000,000 shares to buy. Not sure this is shorts closing on a rumour. Males no sense. More likely another pump.

PC

What is the link then? Is there one or are you making it up?

I cannot fond and news story from JP Morgan that says what you suggest and now there is a pump, so not likely there is such a story. More likely that the PGs ate up to date. They don’t have to report that.

PC

JP Morgan do not appear to be saying anything new at all.

Have you got a link? More made up brokers telling brokers nonsense is it?

We won’t get any news for months is my opinion, unless it is very good. Just have to wait!