Petrofac Share Discussion Threads

[qantas] 26/7/2024 21:26

Well done deep fried shorts doomed to failure.

[ih_759282] 26/7/2024 20:15

Right bondholders could've wiped everyone out,that alternative just isn't in anyone's best interest

[action] 26/7/2024 19:57

I have already prepared myself for D4E.

[action] 26/7/2024 19:57

This one is shorters paradise. Why RNS SO LATE IN A DAY. If they wanted shareholders to benefit why no RNS in the morning around 7am.

[action] 26/7/2024 19:55

What they can achieve in 4 weeks when they could not achieve in at least 6 to 9 months.

[action] 26/7/2024 19:53

They are buying time to offload more shares. Bear Trap.

[scemer] 26/7/2024 19:48

Which ever way you look at it it's not bad news

[wellbutpoor] 26/7/2024 19:35

A very positive development in that performance guarantees are being disregarded.

This indicates that there's little spare capacity in the sector, meaning that customers are willing to make heavy concessions to complete their critical projects.

Further evidence that the 47% Bondholder group know they face a prisoners dilemma and I would suggest that they will agree to play the long game, allowing further value to be created without excessive dilution.

25p on Monday?

[leoneobull] 26/7/2024 18:19

You've been jaknifed

[ih_759282] 26/7/2024 17:18

Short a company a billionaire top shareholder raised as his child,smart move

[sos100] 26/7/2024 17:17

yeh...could be nasty on Monday

[mirabeau] 26/7/2024 17:02

SOS100

Absolutely, you could almost 'see' them trying to cover

[sos100] 26/7/2024 17:01

looks like some shorts got caught out?

UT trade at 22p

[mirabeau] 26/7/2024 16:54

'It provides assurance that these noteholders will not take any action in respect of the non-payment of the coupon until at least 23 August 2024, providing additional time for the Group’s financial restructuring to be progressed.'


So PFC have 4 weeks to get their future sorted

[action] 26/7/2024 16:50

It is DEAD CAT BOUNCE. No Future.

[action] 26/7/2024 16:50

Will call it a day on Monday

[bones698] 26/7/2024 16:48

Dead duck this. 1 month extension isn't going to save them. At best a de4 leaving shareholders wiped out. Some idiots ramping on here don't have a clue

[inv] 26/7/2024 16:33

30p Monday

[midasx] 26/7/2024 16:32

Nice timing for the RNS :-))

[mj19] 26/7/2024 16:29

PETROFAC CURES CONTRACT DEFAULT AND ANNOUNCES EXTENSION TO FORBEARANCE AGREEMENTSource: EQS Regulatory NewsPetrofac Limited ( PFC)PETROFAC CURES CONTRACT DEFAULT AND ANNOUNCES EXTENSION TO FORBEARANCE AGREEMENT26-Jul-2024 / 16:02 GMT/BSTPress Release 26 July 2024 PETROFAC CURES CONTRACT DEFAULT ANDANNOUNCES EXTENSION TO FORBEARANCE AGREEMENT Agreement with key EPC customer Petrofac today announces that it has reached an alternative agreement with a key customer with respect to the performance guarantee requirements under that contract. The agreement cures the default notice received from that customer, which required a performance guarantee to be posted by 16 June 2024, as outlined in the company's 2023 accounts. The Company continues to require performance guarantees for certain of its other recently awarded contracts. Further announcements will be made as appropriate. Forbearance agreement with noteholders The Group has extended its existing forbearance agreement in respect of the non-payment of the interest coupon on its senior secured notes from 25 July to 23 August 2024. The forbearance agreement is entered into by an ad hoc group of noteholders representing approximately 47% of the outstanding senior secured notes and certain other acceding noteholders. It provides assurance that these noteholders will not take any action in respect of the non-payment of the coupon until at least 23 August 2024, providing additional time for the Group's financial restructuring to be progressed.Further announcements will be made as appropriate. ENDS For further information contact: Petrofac:James Boothroyd, Head of Investor [e-mail] Sophie Reid, Group Director of Communications and [e-mail] Teneo (for Petrofac):[phone] NOTES TO EDITORSPetrofacPetrofac is a leading international service provider to the energy industry, with a diverse client portfolio including many of the world's leading energy companies. Petrofac designs, builds, manages and maintains oil, gas, refining, petrochemicals and renewable energy infrastructure. Our purpose is to enable our clients to meet the world's evolving energy needs. Our four values - driven, agile, respectful and open - are at the heart of everything we do. Petrofac's core markets are in the Middle East and North Africa (MENA) region and the UK North Sea, where we have built a long and successful track record of safe, reliable and innovative execution, underpinned by a cost effective and local delivery model with a strong focus on in-country value. We operate in several other significant markets, including India, South East Asia and the United States. We have 8,500 employees based across 31 offices globally. Petrofac is quoted on the London Stock Exchange (symbol: PFC). For additional information, please refer to the Petrofac website at www.petrofac.comDissemination of a Regulatory Announcement, transmitted by EQS Group.The issuer is solely responsible for the content of this announcement.ISIN: GB00B0H2K534Category Code: MSCUTIDM: PFCLEI Code: 2138004624W8CKCSJ177Sequence No.: 336890EQS News ID: 1955365 End of Announcement EQS News Servicefncls.ssp?fn=show_t_gif&application_id=1955365&application_name=news&site_id=airport_aws

[action] 26/7/2024 16:25

I hope it is not a blip again

[mirabeau] 26/7/2024 16:04

price spike

[investtofly] 26/7/2024 11:58

Not even a whimper