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Thanks Walt, I'm not working and already got a busy Bank holiday lined up.
£2.50 was just the starting bid. I would expect they get pushed to above £3 by the end. Hopefully £3.50.
Think of all the money BP could save by buying PFC instead of paying Windfall tax.
Come on BP, we are here waiting for you.
Share price jumped from 200p to 240p when the asset sale was announced on Jan 13th.
Yesterdays fall may have been because some expected a higher price or the downbeat comments "working capital outflow in our business in the first half is expected to lead to net debt being higher at 30 June 2022 than at 31 December 2021".
Decent contract wins are needed to push the price up.
Could also get a nice bump up (or down like PFC) on 22 June 2022 with AGM and trading update.
Aucuba, what do you use to monitor the share price?
When you said "its approaching 5%", it was actually over 6%.
Data on this site is delayed 15 mins.
I use Hargreaves Lansdown which shows live prices but Google is pretty much up to date all the time.
The sale is a good thing but not sure the market will like other parts of the statement. "Excluding the proceeds from the sale of our Built Environment business, we expect no improvement in net debt in 2022 compared to 2021," it said. "The typical working capital outflow in our business in the first half is expected to lead to net debt being higher at 30 June 2022 than at 31 December 2021."
Just had a look at the current market caps and it looks Centrica will be back in the FTSE100.
https://www.ig.com/uk/news-and-trade-ideas/centrica-shares-could-soar-when-its-re-promoted-to-the-ftse-1000-220530
And don't forget "decommissioning liabilities associated with the assets (approximately £800m) will also transfer to the buyers".
I was expecting a bounce after the fall on Thursday and Friday but this will really move Centrica price up.
BBC News: "Sunak confirms a temporary windfall tax on oil and gas giants but says it will include a new investment allowance to incentivise the reinvestment of profits".
Sounds like potentially good news for PFC and the like in the coming months.