Fulcrum Utility Services... Share Discussion Threads

[alibulut] 24/8/2023 14:41

f a company delists voluntarily, its share price can increase depending on the reasons for the privatisation. In this case, a trader can open a position to 'buy' (go long) if they think the share price will increase. If the company is forced to delist, it often spells bankruptcy or causes investors to lose confidence.

[catabrit] 23/8/2023 12:20

I have no idea. It’s obviously very different in that it was a liquidation but it was effectively written off and pretty much everybody assumed that the major shareholder Somers would screw minorities. That hasn’t happened so far. But what has happened is that the liquidation has proceeded much faster than expected so I’m expecting circa 5p vs my 0.5p basis. NAV was / is like 14p!

[tomboyb] 23/8/2023 11:59

catabrit -

Out of curiosity where do you think PCF bank will go -

I say this because one of my shares delisted, I wrote it off and it gave me a surprise 5 figure return -

[catabrit] 23/8/2023 11:54

Disagree with you on the contracting / services business. They have a number of business areas that - with the right management, risk appetite and incentives - should do OK. They won’t ever command a high multiple unless the revenue is advisory / consulting led, but they will command a multiple - especially if they can get to scale over time or carve out a good niche.

The poor prospects of minorities getting a fair share of the pie is already baked into the equity value of £1m vs the £20m of pipeline assets and £45m odd contracting / services revenue.

I.e. it’s already assuming close to 99% probability of there being nil value and personally I’m quite happy to take the opposite side of that bet as the world is an uncertain place and you just never know.

Everyone thought that Carvana was going bankrupt and last time I checked it was a ten-bagger.

I own 2m shares at 0.25p and am happy to add this to my de-listing bucket that includes other dogs such as PCF Bank, Parsley Box, Allied Minds and Argos Resources.

FWIW - PCF is looking like it could be a ten bagger. Everyone wrote that thing off and I picked it up for some silly multiple of TBV.

[tomboyb] 23/8/2023 10:07

Meeting on 26th September so quite a while before we get there -

[jonnywalker77] 23/8/2023 09:13

It's a zero either way - interest on the loan note or almost 100% dilution if there's any equity value. This has been obvious from the moment the loan note was announced and has only got worse since then. Like CINE, retail are going to get fleeced

[alibulut] 23/8/2023 09:12

Those %57 in favour to delist might be buying more. There for we should not sell our shares.

[wakeyinvestor] 23/8/2023 09:05

Delisting would be a disaster for us PIs so vote against the resolution. They’ve got 57% of the votes committed but need 75%. However it’s 75% of votes not of total shareholdings, so it is important to vote and not be defeated by apathy. There is a possible turnaround here as now the rot has been cleared out the recovery is being made, as the RNS says, AT PACE

[alibulut] 23/8/2023 08:34

Hi. Guys, if delisted happened, will there be any value to our shares? What all you think?

[pictureframe] 22/8/2023 09:46

You've got 2 major shareholders financing the business at 20% interest rate! Where has all the sale of infastructure money gone?

[carpingtris] 22/8/2023 09:46

Didn't they have a share incentive scheme for the employees? bet there happy?! not.

[wakeyinvestor] 21/8/2023 22:18

The loan converts to shares at 0.5p whereas the current share price is well below that. There is no certainty this will delist as they haven’t got the votes, so existing shareholders should IMO buy more shares at these low prices and vote against the delisting. From there, value may be derived as the business is in recovery, at pace (as the RNS says)

[catabrit] 21/8/2023 19:01

“…option-like bet…”

[jonnywalker77] 21/8/2023 17:53

Good money after bad - you are heading for zero like I said in December. Any value in this will go straight to the convertible note holders and once delisted you have basically no rights.

[catabrit] 21/8/2023 11:23

This is the most interesting de-listing I’ve seen since PCF Bank and thus I’m happy to buy shares and tuck them away as an option-like bet.

[wakeyinvestor] 21/8/2023 09:28

The business is set for recovery, at pace. You’ll only be able to participate in that recovery if you hold onto your shares and vote down the resolutions collectively with other shareholders. They have around 57% of the votes so are still nearly 18% short.

[terminator101] 21/8/2023 08:46

Terminated. Another one that the boiler room crew tried to ramp the gerbils into.

[watcher13] 06/4/2023 11:38

Correction to my last post - £11 million at 0.5 pence per share is an awful, awful lot of shares. Increasing the loan and paying 20% suggests they are projecting big cash flow shortfalls over the next few months to cover working capital needs - but if so why is the loan scheduled for repayment in November? A recovery plan is going to take longer than that so I suspect that date will move or more likely we will see conversion at a horribly dilutive rate. Zero value in this for minority shareholders.

[pictureframe] 06/4/2023 10:15

20% ........ yep 20% interest rate and to both major shareholders!

[watcher13] 29/3/2023 13:09

is this the fear factor that Bayford/Harwood will exercise conversion in April? £6 million at 0.5 pence per share is an awful lot of shares.

[chesty1] 01/3/2023 10:27

Ever since they stated they know of no reason for the rise it's had daily increases! Someone is in the know here.

[p1nkfish] 16/2/2023 12:07

Don't remember exactly but do holders buying at the right time get option of shares at 0.5p sometime this year?