Thursday, July 21, 2016 2:35:24 PM
I did OK (meaning not multiples but nice fast 10%-ers) long on the spikes and shorting it back. Current position could erase much of it.
I'm guessing that the last week+ freefall has been for risk avoidance positioning until some type of announcement on the debt is made. The downside of not handling the payments/refinance is brutal - virtually a total loss, (whereas even most solutions it gets rid of short term uncertainty but remains a troubled Co, badly leveraged, etc.).
The gas/oil market - while obviously important - much less so for the way this stock reacts. If anything it magnifies the problem since the effect of hedges and such factor in so much - but at the end of the day PGH has decent resources/assets and is historically well run. When you add to it the type of special tax advantage corporate structure is only realized when paying (large) dividends **NOT** interest - there is every reason the bondholders would not hesitate - reasonably maybe even try - to take ownership at a default rather than concede much of a payback break. Fact is - it would seem to put the company right on track and in the thick of things (removes most all of the controllable problems and realizes currently unused values it does have) ...but obviously - the current equity holders are pretty much toast.
On the other hand - a sign that they actually can make the upcoming squeeze would hopefully get this thing back to the $2 maybe toward $3 pretty soon...
Obviously this all my opinion..with very limited info (like if the recent big buyers have maintained position and are able/willing to provide any refinance assistance) so tendered and hopefully received as seemingly not unreasonable or unrealistic.
Recent PGH News
- Personal Group Holdings PLC Notice of Results & Presentations • RNS Regulatory News • 09/16/2024 06:00:09 AM
- Personal Group Holdings PLC Appointment of Nominated Adviser and Broker • RNS Regulatory News • 08/27/2024 06:00:13 AM
- Personal Group Holdings PLC Notification of major holdings • RNS Regulatory News • 07/31/2024 06:11:05 AM
- Personal Group Holdings PLC Trading Update • RNS Regulatory News • 07/24/2024 06:00:07 AM
- Personal Group Holdings sells Let's Connect for GBP2.0 million • Alliance News • 07/10/2024 10:13:21 AM
- Personal Group Holdings PLC Disposal of Let’s Connect • RNS Regulatory News • 07/10/2024 06:00:09 AM
- Personal Group Holdings PLC Holding(s) in Company • RNS Regulatory News • 07/05/2024 02:39:33 PM
- Personal Group Holdings PLC PDMR Share Dealing • RNS Regulatory News • 07/02/2024 06:00:12 AM
- Trident Royalties swings to profit • Alliance News • 05/02/2024 02:45:27 PM
- Personal Group Holdings PLC Results of Annual General Meeting • RNS Regulatory News • 05/02/2024 12:45:17 PM
- Personal Group Holdings PLC AGM Statement • RNS Regulatory News • 05/02/2024 06:00:08 AM
- Personal Group Holdings PLC Purchase of shares by Employee Benefit Trust • RNS Regulatory News • 04/22/2024 06:00:06 AM
- Personal Group Holdings PLC Purchase of shares by Employee Benefit Trust • RNS Regulatory News • 04/18/2024 01:56:44 PM
- Personal Group Holdings PLC Director/PDMR Shareholding • RNS Regulatory News • 04/11/2024 08:28:29 AM
- Personal Group Holdings PLC Notice of AGM • RNS Regulatory News • 04/05/2024 10:00:01 AM
- Personal Group Holdings PLC Grant of LTIP & CSOP Options • RNS Regulatory News • 04/05/2024 06:00:08 AM
- Personal Group Holdings PLC Replacement:Preliminary Results and Final Dividend • RNS Regulatory News • 03/20/2024 08:00:01 AM
- Personal Group swings to profit and keeps revenue steady; ups dividend • Alliance News • 03/19/2024 12:17:32 PM
- Personal Group Holdings PLC Global Airline Selects Personal Group • RNS Regulatory News • 03/19/2024 07:01:00 AM
- Personal Group Holdings PLC Preliminary Results and Final Dividend • RNS Regulatory News • 03/19/2024 07:00:08 AM
- Personal Group Holdings PLC Notice of Results Presentations • RNS Regulatory News • 03/14/2024 07:00:11 AM
- Treatt revenue falls; Secure Trust profit picks up • Alliance News • 01/25/2024 08:21:47 PM
- Personal Group Holdings PLC Trading Update and Notice of Results • RNS Regulatory News • 01/25/2024 07:00:07 AM
- Personal Group Holdings PLC Director/PDMR Dealings • UK Regulatory • 01/17/2024 02:21:00 PM
- Personal Group Holdings PLC PDMR Share Dealing • UK Regulatory • 01/04/2024 05:38:00 PM
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