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I'm very sorry to hear that PFCV you come across as a sound bloke and I can relate to how you are feeling, had a really good day on Thursday and then when I saw the RNS notification I thought we were home and dry, until I read it.....I like your question about buying back in when the D4E gets resolved and when/if the balance sheet looks more favourable, is that a reasonable proposition anyone?
How is this gonna play out with the former Director and main share holder, surely he must be involved in the talks....
Yeah I quite agree Bridgedogg, in a sense it was actually responsible of the BOD to prevent a backlash if more waded in.....the SFO situation and the ADNOC ban has hammered this company, it should been a red flag when they had to do a raise for the 77mill fine but I stupidly jumped in then also......anyone have any examples of a company returning back from a D4E to former highs...GLA
I calculated that if the company adds a billion new shares (currently 500 mill. so increasing to 1.5 billion) the SP will go to about 9-10p*, which is pretty crap but with a restructured more healthy balance sheet and perhaps an end to uncertainty! it might be a clean slate going forward. Historically the SP was 1500, not sure what the number of shares in issue at that time was but the MCAP was clearly much higher than it is currently , and given the potential for the business in terms of contracts it has already secured maybe all is not lost. Am I grasping?
*Happy to be corrected on this.
I'm confused by the benefit of a D4E with the MCAP only at £138mill. given the amount of debt. Purely speculation, but what sort of deal/ how many new shares do you imagine will be issued if it comes to pass? GLA
I think the explicit mention of Debt for Equity which was only alluded to in the previous RNS is hugely significant, can't believe this recovered so much this afternoon, is it possible some impatient shorts closed out? will find out Monday!, I think this is a gamble or very long term investment now, hope the takeover talk has some legs but this remains to be seen, gonna try and day trade some losses over the next week or so which will hopefully present some opportunities, pure gambling though which I accept, not sure I'm as good at this as I thought.
Thanks for commenting Paul, obvs the board are obligated to inform of major news and although this vague RNS doesn't confirm much it serves to meet those legal requirements, they obvs knew the effect this would hace on the SP. Anyhow my question is although a proposed D4E is not good, surely the institutions that will be on board will be wanting an increased SP and although we'll be diluted, a smaller proportion of a higher SP will be more beneficial than a whole sum of a lower SP, I understand that is now a long term reality, hope that makes sense! Thanks
Bore off mate.....
There is a market update RNS scheduled for the 28th February.......
Haha, blimey mate you're priceless......the irony meter just melted.....
Yeah me too, I cashed out at £1.50 with RR...bit gutted tbh!
When, if at all, do you think realistically £1 will be reached....?2024, 2025, 2026, never?
Absolutely, was tempted to have a quick trade as it seems to be a fairly regular response to a good TU, bottled it though!
I'm struggling to understand how beneficial a rights issue would be at these levels, given the contracts in place I would think an extension of credit facilties more favourable, and why would they have recruited Aiden De Bruner if they were just going to follow that line......GLA
Thanks for confirming, be interesting to see how the store in Abu Dhabi is progressing too. kind regards
Well thanks for staying onboard and giving us your insights into a share you are no longer invested in......
Sorry , are you calling me a Dipstick?
I thought the shorts would reduce before COP started for that reason, yeah hopefully an upward trajectory from here. GLA
TFG and Marshall Wace increased.....tomoz should be interesting