Fulcrum Utility Services... Share Discussion Threads

[thiopia] 03/10/2023 10:32

Crazy prices earlier.

0.10p for NAV/share of 4.34p

The major shareholders who paid 12p+ taking it private so you'd think they have a plan that includes minority shareholders

Personally happy to stick with it for a potential multi-bag return at a very cheap option price

[alibulut] 26/9/2023 15:42

Sp should rise slowly. Some decide to sell with lost, some will be long holder. What ever returns they gets unknown. But delisting purposes for the benefit of share holders and company. We should not be pessimistic for the future of our investments.

[scubadiverr] 26/9/2023 15:19

Any ideas what is to happen now?

[thiopia] 25/9/2023 19:20

fellow de-lister

mudbath 25 Sep '23 - 19:42 - 543 of 543

The bid price for PTRO shares rose by 75% through the day. (0.4 to 0.7p)

Will we see the share price rise above 1.25p before the final day of trading on Thursday ?

[neilyb675] 24/9/2023 17:43

....at 0.10p I would be adding, and comfortable in doing so.

[thiopia] 24/9/2023 15:07

Chart poised interestingly. If it drops on result of vote I might pick some more up

Could see it drop to 0.10p if de-listing vote approved

Spike to 0.50p if de-listing denied ?

[thiopia] 24/9/2023 15:05

suspect the de-listing will be approved, we'd have seen bigger spike before hand if there was concerted effort to win the vote from anti-delisting side

comfortable with de-listing because even in an asset grab you'd imagine shareholders (even minority ones) will be protected Harwood were tendering for stock at 26p they will want some payback you'd assume




8 April 2020

PROPOSED TENDER OFFER, BY HARWOOD CAPITAL LLP, TO PURCHASE UP TO 53,500,000 ORDINARY SHARES OF FULCRUM UTILITY SERVICES LIMITED,

AT A PRICE OF 26.25 PENCE PER SHARE

Highlights:

· In response to the extraordinary movement in the share price, towards the end of trading today, in the shares of Fulcrum Utility Services Limited ("Fulcrum"), Harwood Capital LLP ("Harwood") today announces a proposed tender offer (the "Tender Offer"), by a special purpose vehicle, to be established by Harwood (the "Harwood SPV"), to acquire up to 53,500,000 ordinary shares of 0.1p each in the capital of Fulcrum ("Ordinary Shares"), representing up to approximately 24.1 per cent. of Fulcrum's existing issued share capital.

· This Tender Offer has been accelerated by Harwood, as a result of today's share price movements and, as such, Harwood has not had the opportunity to discuss the Tender Offer with the board of Fulcrum ahead of this announcement.

· The Tender Offer price of 26.25 pence per share represents an attractive premium of approximately:

- 47.5 per cent. to the closing bid price of 17.8 pence per Ordinary Share on 7 April 2020 (being the latest practicable date prior to the publication of this announcement);

- 42.7 per cent. to the closing middle market price of 18.4 pence per Ordinary Share on 7 April 2020 (being the latest practicable date prior to the publication of this announcement); and

- 80.3 per cent. to the volume weighted average price of 14.56 pence per Ordinary Share over the twenty business days up to and including 7 April 2020 (being the latest practicable date prior to the publication of this announcement).

· Harwood believes that the Tender Offer represents both a significant premium to any relevant share price metric, as well as offering a significant liquidity event to all shareholders, against the background of the current, and sustained, market dislocation and global macro-economic uncertainty.

[neilyb675] 23/9/2023 07:47

1 June 2023

FULCRUM UTILITY SERVICES LIMITED

("Fulcrum" or "the Group")

Domestic Asset Sale Update

Fulcrum announces an update on the sale of its domestic customer gas connection assets and associated meters to E.S. Pipelines Limited ("ESP").

The Group confirms the successful completion of tranche seven of the domestic gas assets transfer to ESP for a total consideration of £2.2 million on 31 May 2023.

£2.0 million of this was received in cash on 31 May 2023, with the retention balance of £0.2 million expected to be received on 30 November 2024.

The total gross consideration receivable by Fulcrum is expected to be c.£49 million. £36 million has been received to-date, leaving approximately £13.1 million to be received.

The arrangement with ESP also includes further milestone targets which, if achieved, would trigger additional enhanced payments of up to £3 million over the remaining term of the contract.

[neilyb675] 22/9/2023 16:26

Taken a small position here - somewhat out of intrigue, somewhat out of a hunch that this is a win/win from the current entry price.

The last results RNS suggests a turnaround is being effected and that this is certainly not a business about to fold.

So then I started to peel back a few layers and yes there is a huge ownership by 2 parties ......

Harwood Capital 114,892,352 28.8%
Bayford Group 116,212,821 29.1%

The fact this isn't a forced delisting, but a choice by the company smacks of asset grab.

Not keen on this....but I'm not a forced seller so happy to sit on my 100k shares bought that would have cost £12k (that the directors paid in the January 2022 placing at 12p per share), but only cost me £198 !!!

"To facilitate future Shareholder transactions in Ordinary Shares, JP Jenkins has been appointed to provide a Matched Bargain Facility, which is expected to be available from 4 October 2023. Shareholders wishing to trade these securities can do so through their stockbroker. Trades will be conducted at a level that JP Jenkins is able to match a willing seller and a willing buyer. Trades can be conducted, and limits can be accepted, during normal business hours. Shareholders or potential investors can place limits via their existing UK regulated stockbroker."

[scubadiverr] 21/9/2023 15:25

You bet to align your interests with him not against him. Look into Harwood capital and also the loans owed to Harwood. IMO that is why there appears to be such a large value discrepancy

[thiopia] 21/9/2023 15:12

I don't follow?

[scubadiverr] 21/9/2023 15:00

Christopher Mills

[thiopia] 21/9/2023 13:19

Outlook
Turning the Group’s performance around has been a challenging task and is ongoing, but we are making good progress, at pace.
The Board is pleased that the Group is on a path back to profitability and that its foundations are being continually strengthened to
deliver a successful future.
Medium to long-term market fundamentals are supported by the UK’s transition to a low carbon economy and also continue to be
very strong. Considering all of this, I am confident that the Group is well positioned to take advantage of the many and significant
opportunities available to it as we move forward.

Jennifer Babington
Non-executive Chair
18 August 2023

Current Mkt Cap at 0.125p = £0.5m vs Tangible Assets in PPE of £30m ! and Net Assets of £20m !

What is going on here ?!

[alibulut] 24/8/2023 13:42

What Happens to Shareholders When a Company Goes Private? Shareholders agree to accept the offer to be bought out by investors. They give up ownership in the company in exchange for a premium price for each share that they own.

[alibulut] 24/8/2023 13:41

When a company delists voluntarily, shareholders will usually receive cash to buy them out or shares in the new, acquiring company. 6 When it is forced to go, the outcome is usually different. No special offer comes.

[alibulut] 24/8/2023 13:41

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 11:20

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 10:59

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 10:54

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 09:07

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

[jonnywalker77] 23/8/2023 08:13

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 08:12

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

[wakeyinvestor] 23/8/2023 08:05

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 07:34

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