Petrofac Share Discussion Threads

[dealy] 15/4/2024 12:45

Strictly speaking, if the bonds really are only worth 25 cents on the dollar (we don't really know due to lack of volume and probable moratorium for existing holders) then the shares are unlikely to be worth 24p.

[topazfrenzy] 15/4/2024 12:29

Wake up idiot.

Stop ramping this POS it's going to under 10p soon

[armbar] 15/4/2024 12:11

It did not say it revolves around a D4E but an option, engaged and in discussions , it is also in discussions with potential investors and main shareholders Honestly I give up people add words , But IF it happens and it is D4E 20p or 22p, You may say told you so, in reality if this happens you were 400% out , stated 4p for months , breaking covenants etc if you are right I will be the first to say well called but I have a differing opinion to the outcome. Going round in circles, If you have the bond clauses please share i doubt you have them but I maybe wrong happy to be wrong if you have themLets see who these new potential investors are ? What stake ? What price ? Plus main shareholders participation ?Joint venture Adnoc or ApolloTakeover Restructure D4E If so at what price GL it wont be pretty Why the non committal RNS which outlined what we already knew and halted the share price ? Ask yourself you are the BOD Founder etc why would you ?

[geckotheglorious] 15/4/2024 11:40

PFC's RNS was pretty clear.

The oilfield services company on Friday said "all options" remaining under consideration in regard to the restructuring of its debt. Petrofac said its discussions would revolve around restructuring debt in a way that would result in a significant proportion of the debt being exchanged for a stake in the company.

Further, it is in talks with prospective investors and major shareholders for a potential investment in the company, including a potential sale of non-core assets.

Whilst ALL options remain under consideration Debt 4 Equity is clearly the MAIN ONE.

Anyone who still thinks D4E isnt a likelihood is deluded.

A hostile takeover will trigger the change of ownership clauses.

Why would any buyer go through that excessive cost?

They havent done so to date, so why would that change now.

Clearly a takeover/white knight was pursued far earlier to no avail. Hence the D4E now being the most likely outcome.

[armbar] 15/4/2024 11:34

Research McDermott and how the bond holders fair versus equity in the end Tullow and the bond repurchase research the structure and outcomeWe dont know if the new potential investors and main shareholders participate and asset is sold Then the D4E is ? Think it will significantly higher than the 4p stated on here over the months IF . But that is my opinion Joint venture , Hostile takeover cannot be ruled out imo

[wellbutpoor] 15/4/2024 11:23

Get ready.....

For the short squeeze.....

[armbar] 15/4/2024 11:23

There are advantages pre or post restructure depending if an acquirer is interested Major or non controlling stake JV by PE Apollo or someone like Adnoc So do you have a copy of the bond clauses as asked many times we have the RCF but the bonds seems more illusive GL

[halfpenny] 15/4/2024 11:22

How much Dilution Ahead???

Further falls as Asset Sales fail and Debt Increases!!

Testing 20p then 14p...

Dark Days Ahead

[geckotheglorious] 15/4/2024 10:58

Miena
Post 39701

I picked up on some very interesting information from one of the posters on that board who is very much inline with our thinking.

I private messaged and was surprised to get a VERY VERY interesting and detailed report.

We have a buyer this is clear... Now what is the price??


Yes of course you did. Reeks of blatant ramping.

Where's a copy then of this "conversation"

You expect us to just take your word on it?

[halfpenny] 15/4/2024 10:49

Further falls as Asset Sales fail and Debt Increases!!

Testing 20p then 14p...

Dark Days Ahead

[blackhorse23] 15/4/2024 10:48

Will be huge diluting shares ? Ref D4E

[geckotheglorious] 15/4/2024 10:41

Armbar
Post 39629

There is two ways gecko you either offer pre the restructure , this allows you to control the outcome based on the acquirers balance sheet and you could be in a better position of strength to negotiate if you are an Adnoc for example

Which would trigger those change of ownership clauses meaning "not so cheap"


Or

Post offer as its all done for you but you then have lost control

Far more likely once the D4E has been done and the company is back on sound footing.


I'm sceptical there were will any white knight saviour, or any bid before the Balance sheet is restructured.

The RNS is clear.

D4E is most likely outcome now.


I notice the board's ram per Witless has gone quiet!

[lodgeview] 15/4/2024 10:38

It's OVER for PFC

[ghhghh] 15/4/2024 10:27

Armbar

Please give me one example of a restructuring where SENIOR BH's have taken a hair cut yet equity has escaped unscathed?

BH's are VASTLY senior to equity. Current equity has no say in the restructuring. The terms will be decided by debt holders and the new money.

Re the Bonds, most holders will be locked into the restructuring talks. And the 30 cent price based on a relatively small stub implies no one buying, let alone stake building.

Any bidder with more than two brain cells will wait till after the restructuring when all the dirty work has been done. The shares are likely to be very lowly rated until the stock overhang is cleared. I will be looking to dump all my equity.

[armbar] 15/4/2024 09:41

RNS facilitated two things been played One to the lenders play nicely and lets work together on releasing part of the collateral , the bond price is shotTwo allows a little breathing space for the accumulators to accumulate Now the bonds as I mentioned months ago could be repurchased at a deep discount so now it is negotiation time but someone wants in or it wants it all my suspicion is adnoc or Apollo but biase to Middle East for all my reasons stated for some timeGL

[noramping] 15/4/2024 09:35

I think there are too many people grasping at straws, any D4E will be at prices much lower than current share price

I’m just watching from sidelines with my popcorn. I will need to get the marshmallows out soon as so many people are going to get burnt and I like mine toasting.

[armbar] 15/4/2024 09:34

Someone wants in or wants it allAdnoc or Apollo imo JV or a takeover 60-80pNow if the below is true then that is one averaging down mr Asfari who paid 115p for $38M, if the offer comes looks ok in his eyes My view it will hit 20-22 this week next Monday all to be revealed and the new contracts but that is just a guess. It also continues to be in discussion with prospective investors and certain major shareholders in relation to potential further investment in the Company and remains in negotiations with prospective purchasers regarding the sale of non-core assets,

[dealy] 15/4/2024 09:21

So what is going on with these performance bonds? Are they new? Did the company not realise that these were needed? Almost sounds like it's bad to win an order

[wellbutpoor] 15/4/2024 09:06

Bought back in on this weakness

[loglorry1] 15/4/2024 08:58

BP and everyone else would run a mile if they weren't given a performance bond by the banks. Alas PFC can't get them until they fix the balance sheet.

[dealy] 15/4/2024 08:50

BP not bothered by balance sheet woes.

[topazfrenzy] 15/4/2024 08:48

If you loved buying this at 30p you'll love it even more when it hits 5p!

[topazfrenzy] 15/4/2024 08:47

Insiders probably dumping at this stage ..

[action] 15/4/2024 08:40

In auction