RE: £3m - Take over offer next9 Feb 2026 20:52
Thanks — yes, I meant the CFO and Chairman.
The removal of two senior executives should be viewed in context. Given the company’s underlying assets, it’s difficult to justify a market cap below £3m, yet that’s where the stock is currently trading. This disconnect highlights just how oversold the situation has become.
The shares were already heavily de-rated from around 6p at the start of the year, so the additional ~50% drop following decisive board action feels excessive rather than fundamental. In reality, markets tend to reward strong governance and transparency, especially when issues are confronted rather than ignored. Existing shareholders — and new buyers — generally value that approach.
It’s also worth noting that there are AIM shell companies with no meaningful assets trading at valuations above £3m. Against that backdrop, PXC’s valuation looks increasingly disconnected from reality.
The focus now shifts to execution: appointing a new CFO, securing short- and long-term financing, and stabilising operations. Importantly, these financing discussions were already referenced in the January 2025 update, when the share price was around 2–3p — a level that already appeared oversold at the time.
With hindsight, it’s reasonable to assume that the board changes announced recently had been in progress for some time, potentially explaining the prolonged weakness in the share price. With those issues now addressed, the stock finally has a chance to reset and re-rate from deeply depressed levels.
In short, this looks less like a business impairment and more like capitulation pricing driven by uncertainty — uncertainty that is now being actively resolved.
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