Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
"In the United Arab Emirates new employees their operational hub is located in the Emirate of Sharjah, within the renowned Petrofac Tower, where they facilitate both regional and international projects."
First 12 words or so do not seem to make sense or am I reading it wrong?
Now a shade over 2 years since the bean counters at SFO grabbed their ill-gotten gains and our SP stood at £1.82.
Despite winning contracts from ADNOC after the blacklisting was lifted we haven't really moved on at all, rather the opposite.
The SFO case should now be ancient history and we should have "moved on" but I venture to suggest that one of the reasons we haven't is the fact that other companies in the sector bidding for the same contracts remain untrammelled by the lesson that had to be learned by Petrofac.
You can read into that what you will!
Presumably this is the same Deutsche who proposed a TP of 560p in its last recommendation when the SP was standing at 400p i.e. a 40% hike, the best managed being about 460p.
The answer DB received was one which was blindingly obvious in view of market Regs. but as DrP states doesn't mean there isn't something brewing in the background and in addition would the "Times" have added its name to the speculation without some very good reason?
DrP.
Very strange!! Only a few minutes ago I found the article I posted but I swear blind it had disappeared last evening!
Possibly a minor aberration aided and abetted by a convivial weekend!
The small article in "The Telegraph" on Saturday quoted another City source as saying "... the reports appeared to have questionable origins" and that a takeover seemed implausible in view of the unattractive wider economic environment.
If proven to have been false then some august names who were propagating the "rumour" should be called to account (but won't, of course).
Insurance is already subject to "Insurance Premium Tax" at 12 or 20% so how the reds are going to stick 20% on that as well is anybody's guess. As usual it will hit the poorer sections of the population the hardest but lateral thinking has never been the politicians' best suit.
As for the SP, a minor politician on the other side of the world breaks wind and Aviva staggers. It beggars belief that the SP of a "blue chip" company paying chunky dividends does stagger around like a drunk but with the present CEO gradually whittling market concentration down to a few territories one begins to wonder if the dividend is sustainable.
Just my thoughts