Petrofac Share Discussion Threads

[hpcg] 29/4/2024 08:46

Congrats to the long term shorts here. Having been late to the game I had to cut my losses quickly on the first bounce at the beginning of the year. Over 3000 posts since then, I can only hazard at the quality of the majority of that content.

[chriss911911] 29/4/2024 08:42

the picture is un-investable at any price, for what the company has said today

"dependent upon, amongst other things, the Company securing these performance guarantees, and would require the conversion of a significant proportion of the Group’s existing debt to equity"

How much more of a warning does anyone need ?

[tahmina1] 29/4/2024 08:42

JakNife Which shorts will want to hold their position when the shares are suspended? There is a material uncertainty about what will happen post 1 May. 41% of bondholders have given assurances. Who is to say that there wont be a rescue? Its a risk for the shorts. Many IMO will close in the next 2 days pushing the price up pre suspension.

[jaknife] 29/4/2024 08:38

Sometimes some people have to be slapped in the face with an RNS that says "debt for equity swap" or one that says "we are going to default on our bonds" before they will accept that a company is in dire straits.

Some people are so stupid that they will argue about the first two RNSs and insist on waiting to be smacked in the face with the "fund raise at 4p" RNS before they finally change their minds!

The art of investing is to forecast what RNSs are going to be published in advance rather than to sit around and wait to be slapped in the face with an awful RNS!

JakNife

[topazfrenzy] 29/4/2024 08:37

LOL

Your core position Whites that is down 80% +

hahahahahaha

[whites123] 29/4/2024 08:35

Oh, Topaz, you're such a silly billy.
It's quite evident that you didn't bother seeking permission from your superior before spewing out such a diatribe.
Not that it matters to you financially; you won't gain or lose anything in monetary terms.
Maybe, just maybe, you might pick up a thing or two education-wise, though I highly doubt it.
The drop in the market was entirely predictable. As for myself, this morning alone, I effortlessly pocketed £26,427 in profit with a simple buy and sell trade.
Meanwhile, I'll happily sit on my core holdings, maintaining my healthy average.
If my so-called "brainwashing" (you're quite deluded, by the way) were effective, you'd think you'd have made some profit instead of perpetually losing on your trades.

PFC = STRONG BUY

[sbb1x] 29/4/2024 08:33

Close your shorts. Bank your profits and move on

[topazfrenzy] 29/4/2024 08:32

Kirk, the lemmings are, they are beyond saving lol

[topazfrenzy] 29/4/2024 08:32

The banks will not give the guarantees as they know the company is not fit for purpose

Noteholders desperate to get anything back so offering money IF the guarantees are sorted and a D4E done before June 30th otherwise it's lights out and they will then salvage what they can

SHAREHOLDERS WILL GET NOTHING

[kirk 6] 29/4/2024 08:31

Wow who the heck is buying this

[rossifumi] 29/4/2024 08:27

Mm spreading fear by driving the price down, I wouldn't be surprised if this closes in the blue

[dipa11] 29/4/2024 08:27

Today turnover is around 40 millions plus.As shorter likely to reduced & will come to know by Thursday. As one month without holding any deal shorter don't pay the margin. Good morning. DYOR

[chriss911911] 29/4/2024 08:26

spot on topazfrenzy, anyone holding at least to get something is better than nothing surprised it has not dropped further, but it will, the company has said as much in statement. At the very best expect to see a fraction of the value if the company is saved, which is now a major doubt, it's clear the auditors will not sign off going concern, so it's zero for shareholders very soon.

[topazfrenzy] 29/4/2024 08:21

They have exactly two months before the receivers are called in ... UNTIL 30 JUNE ...

This sh*t show is only going to get worse lol

[topazfrenzy] 29/4/2024 08:19

Chief lemming is back and brainwashing all the idiots again lol

[whites123] 29/4/2024 08:18

Where is this 4p then?

Fools.
The company has provided a day for shorts to close out.
Bouncing around at 16p enabling shorts to cover their positions then watch D4E occur at 22p.

PFC = STRONG BUY

[ny boy] 29/4/2024 08:14

Well if we’re still holding from the last trap door you can only blame yourself, it’s been obvious there would and will be more trap door moments to zero

Can’t believe mugs still buying DOH 🤦🏻‍♀️🤡

[topazfrenzy] 29/4/2024 08:07

Well you LEMMINGS were warned for many months

This company is on its last legs or if you're lucky a D4E at 4p ...

Kiss your money goodbye you bunch of FOOLS!

[ghhghh] 29/4/2024 08:06

There is min of $500m new equity to be issued and BH's proving $200m of that as cash? This means a very low D4E price.

The only hope for equity is whether some of the Shorters seek to close ahead of suspension? Thereby artificially propping up the price.

A takeover? It's all too dire. PFC have clearly stated that they are now insolvent and its only the BHs and Banks propping them up. There is no time for a takeover.

Log and JN - Congrats, will you close pre suspension?

[dealy] 29/4/2024 07:42

Things are not worse than forecast. It's a mess, but the company can get through it. How on earth did they expect to deal with the amortisation of financing facilities when they were extended 1 year ago ?

[ldrcvm] 29/4/2024 07:39

Its not valued at nearly half a billion.

[armbar] 29/4/2024 07:37

They are saying are youINorOUTWatch to see if , the predicted large drop by some actually happen or if the stock gets bought up by ....with another RNS highlighting certain pointsThis will end up in Middle East hands somehow