Member Info for Marcus_

I think they mean it is a done deal in terms of the major shareholders have signed up to buying the new shares at 12p.
The rest of use could vote no, but if the institutional shareholders hold 60% of the stock then the remaining 40% of PI's are not going to be able to vote this down.

Probably too late now, but if you are not overly sure with shares it maybe worth investing in funds in future.

Leave it to the experts to try and manage the shares or buy a tracker and follow the market or a segment of the market.

It takes the pressure off and can be a better return on investment.

Well someone is buying at this level.

Yep that looks about right.

Not sure what that will do to the sp.

No.
You have miss read my response.

I said if there was no consolidation then we would not reach £1 which is the same outcome as if there was consolidation we would not hit £15.

The consolidation mathematically does not have an impact unless you hold a number of shares that is not divisible by 15.

Eg

That £20000 investment at £1 is currently worth £3000 @ 15p a share.

However, if that consolidation happened at a price of 15p a share then the new consolidated SP would not be 15p but £2.25 per share.

That new sp means the invest still has 1333 shares worth roughy the same £3000.

The sp is now 15 times higher than the day before but if there was no consolidation it would have stayed at 15p a share.

That is the same whether there is consolidation or not.

If there is no consolidation then the SP will no be £1.

I guess it's to be expected there is no incentive to buy today.

Bad results would put off most but then add to that anyone buying today could be instantly diluted.

Existing shareholders won't buy more as they can get more at the same or lower price through the share offer.

So only sellers today and MM will offer Rock bottom to scoop them up

Consolidation is a nonsense, it shows a lack of mathematical basics.

The percentage swings can take place at any sp.

No doubt we will waste some money paying someone to administer to consolidation.

Plenty of money to waste it seems, but little in way of effective management.

Lots of cruise ships are parking off the coast to save on mooring fees.

I'd hope saga management are mothballing in the most cost effective manner. But I agree why take a ship you can use early?

Unless they expect to get cruises underway fairly rapidly and need to train staff on board

Jed the city are not fans by the looks of it.

I'm mostly disappointed in myself, I had an out at 19p for break even but refused it due to greed.

No one else to blame but me for that error.

Yep I get that it's not a maximum. But the lower the offer price goes the less capital that gets raised.

Or the more shares they need to issue to achieve the capital injection required.

Either way the market looks to be hampering this offer.

I get that for LTH 33p is derisory, but it was more than 100% above the current price. Just not sure why it was dumped in favour of this idea. Even if they had set a date that share holders needed to be holding since say the Rns to benefit it may have helped stop this match back to bottom

With barely a discount to be had I'm not sure pi's will want to invest even more in to this share.

And the market says 16p.

So we will see who is right in a few days.

How low?

In theory every share can hit 0.

I'm not predicting this for pfc but no one on here knows what the sp will be in a week or a year.

The question is do you feel that the company is well run and is in a growth business area?

Or is it tredding water making the best of a bad situation?

Personally I think the company is run well, debt is low and it continues to make a profit. But the industry is suffering and so this company will be low until production of oil needs to increase.

It is diversified but I think it still heavily relies on oil production which is all in reverse gear at the moment

An offer at 60 to 80p is just not in reality.

Many shares from more profitable companies are trading at less than half pre pandemic.

This is 40p tops in the next 5years.
Assuming all goes well.

Firstly I have to say well done to pocker for getting in at 13p. (very nice timing).

Would I take 33p today? Hell yes personally speaking it would almost double my investment and pull my portfolio out of the red, so for me it would be a no brainer.

Id actually take 21p today but that is my own investment decision not a company valuation.

I doubt this will get much higher before the 15p offer. The higher it goes the more money any 15p buyers can make.

My guess would be that the 15p offer will be made to current holders and then if there is any left over it will be offered to the open market.

So holding gives you an advantage to buy first.

If the capital clears some debt then it puts the company in a stronger position as debt has a fixed interest were as share capital only needs to be paid a dividend if that is affordable.

Long term this may grow again but the time frame and by how much is anyone's guess.

I'm thinking I should sell my 16p holdings and keep those I paid a higher price for as that will release capital to take up the 15p share offer.

I'm just gutted I missed out on the 24p yesterday so taking me a while to start thinking it through correctly

Well 25% is not terrible and not completely unrecoverable.

I try to keep to just under 20% as my maximum but got caught out in saga trying to recover losses.

My bt holding is about 17% of my portfolio and whilst I don't expect a dramatic recovery I would hope that 130p is doable with a few dividends.
I don't see BT folding so even another 50% haircut would not be a disaster and that would be my worst case scenario for BT

Because covid has seen off all the pensioners?

Fleccy's answer is probably the more sensible one.

Your all in on BT?

Not the best investment strategy to be all in on any 1 share.