Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Sometimes when an offer has been made for a company other companies may come forward and make a better offer. With such a small premium to the SP before the bid announcement some may think this is a possibility. Also as you suggest the shareholders could reject the offer and it does not go through. There has to be a majority of votes cast for the offer to succeed plus the total number of votes cast have to represent 75% of the value of the company according to the appendix to the offer. I am holding my shares at present. Fortunately I have traded Acroll profitably an although I make a loss on a holding bought at 48p I have a profit on some bought at 34p plus the trading profits to date. So Acroll has been good to me overall. Not always the case with other stocks but it's part of investing for most, you win some you lose some.
Paul Curtis
Similar to you I have been investing for over 40 years and have learned many lessons the hard way but never gave up. Now somewhat wiser, less emotional and cautious I have built up a diversified portfolio and have no one stock dominating my exposure. I still buy on gut feeling, often after big falls and my stocks have seen both dramatic rises and dramatic collapses over the years.......and still do. None of us is completely immune from shocks. Having recently turned a good short term profit with Petrofac's rise at a recent high level I am also cautious about going back in at this fall back to circa 29p at time of writing. I see the rise in shorts and the possibility of a fall if a rights issue at a low is announced. That may not happen, we may have asset sales, debt for equity , placings or whatever. Though these will almost certainly see Petrofac sort its balance sheet out and a rising share price in the medium term, I feel there may be weakness until those announcements. On the plus side for me I still have a longer held holding in loss which will benefit if there is an update which is met positively by the market and we have the biggest short squeeze in years in the market. Being in my 70's I am optimistic on Petrofac's future but short term am not prepared to buy back in whilst shorts are so high - I expected them to close after the recent update when the SP moved strongly up but the opposite happened, albeit only small in percentage terms. In a way I cautiousness is proved wrong and the the more optimistic here make loads of money, my existing holding will increase in value, but not prepared to re-invest the recent Petrofac gains by buying those shares back or even more. Will still be tempted if it moved back to my previous buy level of 19p which I doubt it will.
Hindsight is a wonderful thing. I was one of those that doubled my holding at 19p early Dec. I wavered at 40 wondering whether to sell those for a 100% profit or hold on. I agreed with most the SP was still low. However a 100% profit in a month is rare and so I took the profit. I still had longer term holdings (in loss) which would benefit if the SP rose further. Never in my dreams did I envisage a fall to current levels although such a fall does allow me to buy back in at the lower level. We need news on restructuring the balance sheet. If it is favourable the SP will rocket. If negative but not heralding the demise of the Company or a huge dilution of existing shareholders, the SP will find level, up or down, stabilise and overtime we can all buy more and look forward to a long and profitable relationship with Petrofac barring any unexpected events. Current sentiment and comments made me think of the well known quote " Out of the gloom a voice said unto me Smile and be happy things could be worse etc etc" ( if you do not know the quote Google it... to find out how the quote ends). Which way the SP now....I hope it is up. Best wishes to all.
I bought at 19.01 early December almost doubling my holding and swayed as to sell or hold at over 40 last week. I succumbed and sold that holding for a 100% gain. This helped reduce paper losses on the original (still held) holding. I realised I had a similar investing outlook to Mary where we both sell into a rally, rather than wait for a top. We exchanged posts some while back. However I wavered with Petrofac as I saw Petrofac much, much higher at some point. But recognised shorters were not closing much and the balance sheet restructuring through asset sales, improved cash flow, placing, rights issue etc might not be as easy as we all expect. I want the continued rally and especially a short squeeze but until there is more news I do not see a flood of buyers to raise the share price to panic the shorters at present. I hope I am wrong. My sale at 40+ crystallised the profit and reduced risk with holding Petrofac if the SP fell short term, which it has slightly. If it falls more I will consider buying back, but will be just as satisfied if it rises strongly adding value to existing holding. We all really need more positive progress news to attract more buying in such numbers going forward to put pressure on the shorters. If they were not closing at 40 in significant numbers and they believe Petrofac is not going to improve their balance sheet significantly they are not going to close with an SP at 37. But as I say I hope I am wrong, the shorters close, buyers flood in, the SP rises and more pressure on the shorters and we repeat the cycle. But 100% profit in a month is rare and I caved in and sold. All the best for the year ahead to all.
Obviously we'll pleased with the deal and subsequent rise in SP. With the deal not completing till late 2024 I think the SP will settle after the euphoria of the deal dies down and be responsive to the oil price more than anything else after. The euphoria or at least positiveness I think will continue for a bit yet. Positive comments and upgrades are coming and they may well be favourable comments in the papers for Harbour over the festive season which usually have an abundance of shares to buy. I hope so, but if not I note Jeffries says "the deal is compelling", Bank of America has a buy rating with a target of 460 and Barclays says buy with an"overweight" rating. Been with Harbour (and Premier as it was listed before) and the journey not been favourable to date. Have bought several times but at least one of my buys is now moving into profit and I am very optimistic now that my overall holding will prove profitable in the future if and when the deal goes through. Besides nothing jeopardising the deal "all I want is a rising oil price (which seems likely) in 2024 to ensure the SP remains in a steady rising trajectory and any bid or consolidation in the sector will be icing on the cake. I now regard Harbour no longer in the doldrums within my portfolio but a gem to treasure and get a good dividend while I wait with confidence.
LOTM-13
Yes, my buy yesterday was a good one. Very lucky timing! I sold this morning at just over 182 for a good profit. The market surge this morning was an unexpected pleasant surprise. Hoping it heralds a good end of year rally followed by a bull market in 2024 (hope springs eternal or wishful thinking? We shall see). I still have my 2nd buy holding in Synthomer bought at 180 a while back.
Lot-13
I think I've got to grips with your plan. Starting with 175 in Orange, 4000 in Yellow, 1375 in Blue and Nil in Red. I have set up a columnised record to follow your transactions. Please advise how you get shares in the Red section. Also if you have set a limit of 6000 shares in the Red section as the number of your shares hopefully grow to over 6000 from the current 5550 shares overall.
Lot-13
I am enjoying reading your posts and seeing how your trades work out. Your posts encourage me to log into this Synthomer page more than I normally would. I hope you keep informing us.
I also may have sold only part of the core holding in case the SP went up. However each us has to do what we consider appropriate taking into account the state of the market, sentiment, charts, newsflow, herd instinct possibilities, shorts etc. You have a strategy and like me tend to stick with it. Your posts give a practical insight to market trading and I am sure many will learn from it. My first trade in Synthomer returned a very quick profit. My second buy at 180 is looking OK for now and I do not wish sell as I think the possibility of rising from here is higher than it falling, but that is my take, not wanting to be completely out of the stock, looking longer term beyond short term movements. But being in profit means I do not have to consider selling and buying back to increase holding / reducing losses long term. I see the reasoning behind your strategy (apart from being out of the stock now). But part of me wants the stock to fall so you can get back in and continue the posts! Despite my 40+ years of being in the market I learn from posts, especially the practical and honest posts such as yours. Refreshing!
Traded this share successfully until my last buy at 131p which is now a medium/long term hold. Not concerned as after today's fall, which I think is overdone, I see a much higher expectation of corporate activity - stakebuilding or a bid. Shorters will have to buy back when they feel they have made enough from a fall and/or when they think the bottom is reached. A sudden bounce can catch them out and exacerbate any rise in SP. Notwithstanding short term volatility I still see this share recovering longer term. An earlier post mentioned Mike Ashley might see this as an opportunity. With Doc Marten's global appeal I can see the possible attraction. I doubled my holding this morning by buying more.
I looked up the article and found it interesting. Nice to see Synthomer still referred to as a global leader in its field. Noting the recent share price movements and market generally it looks like we have a bottom around 170. Having bought Synthomer for the first time recently and traded that buy profitably (see previous post) I am optimistic my second buy at 180 recently will also be profitable soon. I am currently just looking at trading this share as volatility makes this attractive. Longer term I will get a core holding for the longer term as I see a strong rebound further out and have secondary holdings for trading which is my norm.
Re Joseywales post. I also was not too concerned about the update and believing we are at or near the bottom made my first Synthomer purchase last week at 183. What I was not expecting was a 10p+ rise in 1 day so like Lotm-13 sold a day after my purchase at 193p which I was well pleased with.
Unexpectedly the SP fell well back and yesterday I bought back in at 180. As you say volatility is enjoyed by some and I often benefit from volatility. Note I say often, it does not always work out) but I am always prepared to hold long term. When I get it right in volatility the trading returns add to cash build and kerps cash available for continued purchases. Pleased with SP holding steady this morning in a lacklustre start in the market. I hold the view the headwinds for Synthomer are short term and notwithstanding short term movements the company will return to growth and return the dividend with SP moving upwards. Not without risk though.
Been watching this share since the rights issue announcement. Folliwing recent update and today's 10p fall in the SP and general market fall I decided to buy in for the first time today. I believe the worst is over (famous last words?) and things should improve...........we shall see what will happen. The loss of shareholder value has been horrific this year, I have experienced similar In my 40+ years of investing and its never good. Hopefully no one was only invested in Synthomer. Diversification is important. Not without risk but I look forward to seeing the SP rise significantly over time.
With the stock I bought in the rights issue and subsequent rise in SP I have recovered all my losses on original holding and moved into profit. Rights at 1p and SP now 1.775p to sell moved me into profit. Where we go from here is unknown but today's news on the trial suggests there might be more positive news to come. Not without risk but in a better position than the gloom in June.
I have traded this share profitably since 2020. I was completely out for a few months until I recently bought again at 756 and 740. I also bought more this morning at 704. I am not concerned about the SP slipping below 700 after considering the falls in the market generally this morning. Recent updates have been reasonably positive in my opinion and I expect a bounce in the SP when markets turn positive but may remain volatile whilst we have high interest rates, Ukraine war and Middle East concerns etc. There is a reasonable dividend, seemingly secure for the future and the dividend going ex div end Nov may lend some support if income seekers buy in before then and hold. There has been an increase in short activity to over 5% recently but at some point these will have to close when they buy back at what they see as a bottom and this will help the SP. I personally use Hargreaves platform along with the Interactive platform. Both have advantages for me personally. When we get the next bull market Hargreaves will see revenue increase and SP will follow. If there is a crash I will buy more. I am optimistic but that is just my opinion. Obviously shorters disagree for now.
I sold at 131 in August for a good profit but did not want to be out of this stock for long and bought back recently at 105 after falling back. A fall in the SP was to expected after the warning but the magnitude of the fall I think is too harsh as prospects for recovery at some point is good. No guarantees of course but with Canaccord dropping SP forecast to 110p and an SP hovering at around 55 I view this as positive and bought more to add.
I trade Metro in addition to long term holdings which are deep underwater. Trading profits just make a dent in those paper losses. I bought on Thursday at 39 and sold those on Friday at 49, happy with the 1 day profit. Unlike you I did not have the courage to hold over the weekend with all the speculation. Thought if SP dropped Monday I had the option to buy again and if I the SP rose my other recent buys at 90p would benefit and long term holdings paper losses will reduce. Pleased Metro has secured a deal and obviously pleased with SP rise this morning. Shorters should close now deal is done and there is bid speculation. I am keen to recoup some money (and profit?) from my last trading buys at 90p recently. A bid will be welcome to help there and reduce long term holding losses. The good news there though is I can use those losses against gains to reduce capital gains tax which we will pay more of now with the allowances dropping significantly. Good luck everyone........except current Metro shorters of course!