Member Info for Sm66

Simply that they’ve made their target and are moving on. Not a reflection on the performance of the business but a good opportunity to purchase on a quick drop for PI’s.

That’s exactly what I’m asking myself

The Company has engaged and remains in discussions with its lenders to restructure its debt which would result in a significant proportion of the debt being exchanged for equity in the business. It also continues to be in discussion with prospective investors and certain major shareholders in relation to potential further investment in the Company and remains in negotiations with prospective purchasers regarding the sale of non-core assets, as set out in recent announcements. All options remain under consideration.

Still exploring options, I’m pretty sure D4E is what the shorts were expecting so that begs the question, why start reducing now? Although still over 10% so very significant level of shorting activity. Without any more news from the company the shorts are free to manipulate this back towards 23p then clear more. Who knows?

So the shorts a choosing to exit at 23-25p when the company has indicated D4E? Very interesting can’t believe they’re simply bored. They must suspect that D4E will place the business in a strong position going forward given the backlog etc.

Cheshire lad

Probably low volume because the shorts want a lower exit. Their departure seems the only thing that moves the SP. Latest RNS was a kick in the teeth for PI’s. The sp does however seem to want to hang around 25p give or take. Update will need to be good, stating legacy completion, debt solution etc. Order book should value the business a lot higher than 25p if it survives, which is question able atm.

Oh yes dan

I put far too much into Superdry and got seriously burned.

Far too much in PFC same happened.

Now trading smaller amounts in much bigger companies.

Lesson learned, never trust in the management

The situation developing in the Middle East is going to cast a cloud over UAE operations possibly. Infact it’s affecting the entire market today. Caution required

Dan

Knowbody knows what’s going on with all the latest RNS’s but the last paragraph looks like a disclaimer. In other words they’re increasing the backlog but have no cash. D4E is going to happen but at what price?

Last paragraph of the RNS needs some thought.

For the latest update on Petrofac’s review of strategic and financial options, please refer to the Group’s announcement dated 12 April 2024.

Nothing has changed until they actually announce the D4E deal.

More likely the shorts are clearing before it’s delisted. Which is going to happen according to the company.

Badvoc

The RNS landed Friday at 7am, by close on Friday the SP had dropped from 32p to 26p. The attack on Israel wasn’t until Saturday night. But you are roight in some sense, if the unrest escalates in the ME it will have a negative impact On PFC as the UAE is positioned dangerously close to Iran.

Not so long ago, PFC diluted shareholders to pay off the bribery fine. That time it was at 115p and look where we are today and still with over 10% short. Personally during last December when the SP dropped to 16p I couldn’t fathom why the shorts didn’t exit. They knew this was coming. I’m surprised it’s holding 20p for now. Probably 15p by Friday.

The recent rise to 32p was cruel and without any news looks very suspicious, some poor souls would have been sucked in as the rise looked to break the normal plus 10% then drop. Genuinely feel for LTH’s this has been a disgrace for a company with $8 billion of business on the books but without a huge debt it might just recover. I’m going to be watching the short action very closely as let’s face facts, they are the pro’s with deep pockets.

GLA

IG showing shorts reduced to 21%, that’ll be the only support until they’re out

Lol

Admire the sarcasm, personally I’m still licking my wounds but have to agree to some extent.

If it looks like sh-t, smells like sh-t it most likely is and SDRY stinks. JD has demolished a failing business in record time. SDRY clothing will be selling alongside Ted baker in Costco soon. What a disaster

Someone wise on another board said “don’t try to catch a falling knife “

If you suspect foul play by the management why risk your money.

Knowbody but the management and lenders know what’s going on within the business. I thought for some time that the Tennet deal showed a clear exit from the SP doldrums but I was wrong and it cost me. Shorts seem to know a lot more than PI’s and are less emotional than we are.

PI’s search desperately for signs of recovery whereas shorts find the misery. I don’t agree with shorting in principle. But will never put my money anywhere where shorts are over 2%.

Someone on the super dry board this morning said “beer money is better than no money “ he had a point.

I’m completely out of PFC now, first time I’ve been out in 3 years. I will be back in only when the shorts are out and the business shows a clear path to profitability.

Well , what a bag of sh-t Sdry turned out to be. 50p-5p to delisted in a vertical short space. BOD rejected JD’s proposal 2 weeks ago and now it looks like it’s been accepted?

I’m done here now, gla

Have a good read of the latest Superdry RNS to see just how a corrupt BOD’s can absolutely rinse PI’s and get away with it.

I’m not claiming it will happen to PFC but Ashfari former CEO and largest shareholder? Just a thought. Be very careful out there, it’s a casino, I’ve learnt the hard way.

What’s got my attention is the bond price at 25p.

Previous lows were around 35p in December when the SP was mid teens.

I really hope they can navigate through this cash flow/debt issue but the amount of shorts still here signals otherwise. If the business was for sale I’m pretty sure the shorts would know. Going to be an interesting couple of weeks here.

GLG’s exit is what held the price on Friday, simple as that. Millenniums going for the jugular.

The saga continues

Also, a CVA needs a 75% majority vote by shareholders