The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
£100m asset sale or JV and the shorts would get toasted for 100-200%... Is this really a good short for them currently, I don't think so
Gregpeck..the man, the legend. Some shorts are into this as low as the teens, which is frankly greedy...they bet the house on it collapsing which is stupid given the situation is about temporary cashflow
Shorts can't close if market is halted..unlucky for them
Barclays shares still trading...could be the none FTSE 100 stocks again
Auction is only meant to be 5 minutes though, something else occurring here?
The outflow was $225 in H1 as per interims..they expected that to reverse split evenly between legacy completion payments and advance payments as I see it...the RNS said legacy continues to progress it's just advance payments that are delayed and hence they miss the neutral cashflow forecast...so perhaps they are in the market for $115m...so the shorts have you believe a pipeline of $6b on 5 or 10 % net margin is not enough value to secure finance...pull the other one. There was no mention of increased loss yesterday on legacy..just on cashflow...which is always temporary. I think FV with current risks is about 50p..which accounts for H1 loss and future potential...if cash is secured..FV 80p
I think it's important to consider that the current issue is about cashflow not new or future losses as far as we know...the reason for the cashflow downgrade is future payments, would have been a lot worse if they said it was the legacy contracts...I think if those legacy contracts can be closed out and the company can get a way to unlock the advance payments the future petrofac looks ok...critical that they get the old contracts closed now
Only over 0.5% positions increased..dare say Marshall Wace were just below the disclosure point anyway..more interesting to see what they did today, but if they short from here that is them basically betting on some kinda equity raise
Surely if they buy in it's higher than current mcap
Surely now the Dec update could include material news of a new investor or balance sheet strengthening...so why would the shorts stay open now...the fear of unknown factor has been removed and that was the main issue
A buyer of the business would need to front some cash but would be getting a steal at this price..once legacy is sorted this is off to the races
I wonder which investor is buying into the company, I would say in my view the E&C part could be part bought out..middle east have strong interest in the infrastructure being built
I think authorities need to make it more clear which type of offers and approaches must be RNS, management in a lot of instances make decisions about bids based on their own interest it seems
Been sat on that info how long whilst shorts traded this down?
Nothing stacks up..but I do think there is a decent business here if this liquidity issue is overcome
Snapper, some has had IR respond and say no RNS able news...I agree I was sure there had been some news, but now not so sure...I also think once those legacy contracts are done it's in serious recovery mode...if they can trade through until they are resolved using the cash from completion and new contracts it survives in imo
Snapper..ok it's very brutal, but honestly if there are no changes to the last outlook, why is market saying it's worth a quarter of what it was...makes no sense
If the last update is still valid, cashflow neutral for FY23, and 5 of 8 legacy contracts closed...they have to rns if material change so I do think this is just a brutal short attack
How can they say shorts not the cause given how much they increased lately...but I would say this, selling 5% of company and getting a 60% drop does not make sense
Lost 60% in a month...no communication from the board..how can anyone accept that