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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Petrofac Limited | LSE:PFC | London | Ordinary Share | GB00B0H2K534 | ORD USD0.02 |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.15 | 2.11% | 7.25 | 2,590,265 | 16:35:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 7.30 | 7.60 | 7.70 | 6.845 | 7.10 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Oil & Gas Field Services,nec | USD 2.5B | USD -505M | USD -0.9612 | -0.08 | 37.3M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 17:05:29 | O | 105 | 7.50 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 07/1/2025 | 14:59 | EQS | Petrofac Limited: Board Update |
| 23/12/2024 | 07:00 | EQS | Petrofac Limited: Petrofac enters Lock-Up Agreement and announces.. |
| 18/11/2024 | 07:00 | EQS | PETROFAC EXTENDS FORBEARANCE AGREEMENT |
| 21/10/2024 | 06:00 | EQS | Petrofac Limited: PETROFAC EXTENDS FORBEARANCE AGREEMENT |
| 02/10/2024 | 11:04 | EQS | Petrofac Limited: Director/PDMR shareholding |
| 30/9/2024 | 06:00 | EQS | PETROFAC LIMITED: RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2024 |
| 27/9/2024 | 16:50 | EQS | PETROFAC ANNOUNCES IN-PRINCIPLE AGREEMENT ON FINANCIAL RESTRUCTURE |
| 23/9/2024 | 11:55 | EQS | Petrofac Limited: RESULTS OF ANNUAL GENERAL MEETING |
| 23/9/2024 | 06:00 | EQS | Petrofac Limited: PETROFAC EXTENDS FORBEARANCE AGREEMENT |
| 02/9/2024 | 09:56 | EQS | Petrofac Limited: Block Listing Six Monthly Return |
Petrofac (PFC) Share Charts1 Year Petrofac Chart |
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1 Month Petrofac Chart |
Intraday Petrofac Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 12/1/2025 | 10:09 | Petrofac | 41,322 |
| 01/11/2024 | 15:52 | Petrofac | 4 |
| 25/7/2024 | 15:01 | Police hotline 👮🏽♂️ | 3 |
| 24/6/2024 | 07:11 | *** Petrofac *** | 248 |
| 10/6/2024 | 12:00 | Any targets | 12 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 12/1/2025 08:20 by Petrofac Daily Update Petrofac Limited is listed in the Oil & Gas Field Services,nec sector of the London Stock Exchange with ticker PFC. The last closing price for Petrofac was 7.10p.Petrofac currently has 525,373,758 shares in issue. The market capitalisation of Petrofac is £39,665,719. Petrofac has a price to earnings ratio (PE ratio) of -0.08. This morning PFC shares opened at 7.10p |
Posted at 08/1/2025 16:03 by steve36 I haven't waded through the announcement in detail as my holding is not worth the effort of trying to get to grips with the complexity so I could have got it wrong but I noted the following para:"As referenced above, the Company values its retail investor base and is keen to ensure that retail investors have an opportunity to participate in the equity capital raise. The Company therefore intends to announce an offer of new ordinary shares to retail investors to raise approximately US$8m at the same issue price as the New Equity issued as part of the Restructuring, following the publication of the Company’s audited financial statements for the year ended 31 December 2024. The Company also intends to give preferential allocation to those retail investors who are shareholders on the date of this announcement to the extent reasonably practicable." If the 'intention' is realised then $8m at the same issue price implies almost 1 for 1 at under 2p. A reason why the share price has not fallen as much as might have been expected? |
Posted at 07/1/2025 09:45 by jd96 General George,I think I must be missing something really basic given where both the bonds and shares are currently trading. To get to an 81c recovery seems a leap of faith. As to the shares, I can’t see how the existing share price stacks up with the amounts being converted/potentiall Fundamentally, the shares are worthless and how they are managing to defy gravity, even at a heady eight-ish pence, is impressive. Unless there is a complete clear out of the management team, I fail to see why anyone other than desperate lenders fighting tooth and nail to avoid a massive haircut would touch these shares. It’s not as if we haven’t been here before, a few years ago there was a recapitalisation to save the sinking ship. Evidently that didn’t work, so why should it work this time. The level of value destruction is appalling. Especially for shares that traded at nearly £17 in April 2012 and subject to further issuance at a price of 115p in October 2021. Personally, I always had reservations about the profit recognition on PFCs contracts (a la Carillion and the need to keep generating new business) and considered its dividend policy was over generous (though I make no comment on who was the main beneficiary as that would be inappropriate). |
Posted at 06/1/2025 20:43 by jd96 Wasn’t going to add anything else to this thread until I saw General George’s 2 Jan post. I am struggling to understand how bondholders are going to recover 81c on the original bond in new notes and equity. Some meat on the bones would be helpful. As a bondholder, given the value erosion to date I think it would take a leap of faith to get to such a narrow level of discount on the original investment.From an equity perspective, I am also struggling to get my head around the justification for such a significant level of dilution and what underpins the case for issuing 20550 million new shares. This seems excessive given the debt for equity swap (in the context of the current share price and the other restructuring fees that appear to need to be paid out, etc, etc). If anyone can give some insight it would be appreciated. |
Posted at 23/12/2024 14:02 by jaknife At 8.5p the current market cap equates to £44.7m (525.4m shares in issue).Whilst there are no prices given in today's RNS we are told that shareholders should expect to retain 2.5% equity (1/40th) of the enlarged post-restructured group. Hence *IF* the share price is correct then the enlarged post-restructured group is worth 40 * £44.7m = £1.8bn! Which is an absurdly high valuation! Obviously the share price is way too high. Something in the region of 1.5p to 2p would make much more sense. JakNife |
Posted at 30/9/2024 08:15 by warranty It seems pretty irrelevant what the rights issue shares are priced at, this current share price has for a long time known a DforE was happening but the good news is that current small shareholders will have the opportunity to take part. Once that sorted I don’t see any reason given the contracts available to them that the PFC share price shouldn’t very quickly recover. |
Posted at 13/9/2024 10:38 by armbar Bond prices creeping up 23.50What do the 47% wall crossed know to accept the forbearance AGM the following working day after forbearance expires next Friday , maybe to vote on something ? Potential bidders or JV, takeover adnoc my favourite imo but maybe one of many circling , bonds repurchased at a deep discount probably negotiated when at 15 looks a good deal back then , and equity too based on last year share price 80+ now 16p8bn backlog transformational year plus Tenet contract , In country value Uae , Ayman founder leaves the building saying thank you , for making his fortune worthless, Not sure about that What price ? 300M 60p that will be a bargain , plus bonds at discount all worked for the friendly for some but in reality hostile approach if correct. Offer plus stock more likely would make Ayman and co more amenable imo , that is the way the game is played sometimes, PFC value accretive to many, question is who is interested ? All just speculation and my opinion , probably had to wait for Thai Oil resolution, PM304 $60-70M +sale , JSD6000 10% $20M, before committingcould be totally off the mark maybe they are going bankrupt or as many said D4E 4p ... but an alternate view above ... Bond 52 week high 74 v 23 , share price 80p v 16pCheap as chips for the right someone GL |
Posted at 29/8/2024 11:56 by halfpenny OH! Dear!! looks like poor Deal Ahead as huge Dilution will be a disaster especially at a 4p share price.PFC Down Oil/Gas Down Contracts Down Revenue Down Staff Moral Down Orders Down. Answer on a postcard!! Wonder Where the Share Price is Going??? How Low How Soon?? PETROFAC EXTENDS FORBEARANCE AGREEMENT Petrofac confirms it has extended its existing forbearance agreement in respect of the non-payment of the interest coupon on its senior secured notes from 23 August to 20 September 2024. TIC TOC TIC TOC THE END GETS CLOSER!! |
Posted at 28/7/2024 12:49 by mirabeau Petrofac Share Price Soars, Shorts Scramble to Cover PositionsBy Bryan Hardy / July 28, 2024 Embattled oil services firm Petrofac’s rapid surge in share price on Friday, up more than 70%, has added pressure on shorts to close their positions, with markets set to watch the opening on Monday for signs of a renewed squeeze. The stock has been one of the most shorted on the London Stock Exchange (LSE) but shorts are now in retreat with total positions now falling below 10%. Positive news regarding the company’s contractual and financial positions late on Friday spurred a a rapid increase within the last 30 minutes of trading. The stock closed at 22 pence as a result, a remarkable rise from the 12.6 pence near the start of the day. Contractual Relief and New Agreement Petrofac announced on Friday that it had reached an alternative agreement with a key Engineering, Procurement, and Construction (EPC) customer, pertaining to performance guarantee requirements, effectively curing a default notice received from the customer. The default notice had necessitated a performance guarantee to be posted by June 16, 2024, as stated in Petrofac’s 2023 accounts. Impact on Short Positions Petrofac stock has been heavily shorted throughout the month, following the delisting of shares from the London Stock Exchange, however Friday’s rally will have forced several short sellers to reconsider their positions, adding further upward pressure on the price. With the share price threatening serious losses for remaining short positions, Monday’s trading is expected to see a scramble among short sellers to close out their positions, potentially driving the price even higher. While further challenges lie ahead for the firm’s strategic outlook, the latest resolution clearly instilled confidence in investors about Petrofac’s ability to navigate its contractual obligations successfully, signalling support for ongoing operational activities and potential future revenue streams. Extension of Forbearance Agreement Petrofac has now extended its existing forbearance agreement concerning the non-payment of interest on its senior secured notes. Originally set to expire on July 25, 2024, the forbearance has now been extended to August 23, 2024. This agreement involves an ad hoc group of noteholders representing approximately 47% of the outstanding senior secured notes, along with certain other noteholders. The extension provides Petrofac with crucial breathing room to advance its financial restructuring efforts without the immediate threat of noteholder action. This assurance is pivotal for the company’s ongoing efforts to stabilize its financial position and negotiate better terms for its obligations. Petrofac’s recent developments point to a more stabilized outlook for the company. The resolution of the performance guarantee issue and the extension of the forbearance agreement are crucial steps in mitigating immediate risks and providing a clearer path forward for financial restructuring. Investors will be keenly watching Monday’s trading as the stock reacts to these positive signals and the potential further covering of short positions. The combination of contractual relief, financial restructuring progress, and the resultant short squeeze creates a strong upside potential for Petrofac’s share price. As the company continues to address its challenges head-on, the market sentiment may shift positively, reflecting growing confidence in Petrofac’s turnaround efforts |
Posted at 08/6/2024 22:08 by armbar Just a thought 1. Pre suspension remember the speeding ticket when it hit 34 , no reason just repeated the previous information and seemed to be to halt the rising share price for some reason.2. Then PFC announce suspension info share price drops significantly as they announce the financial options 3. Announce restoration and share price exceeds 120% and over 80M shares traded , short remain unchangedNow think about point 1 TO, MBO, Lowball , imo ME hands GL |
Posted at 10/5/2024 07:41 by pogue Jaknifeas promised a more detailed explanation of why I believe tighter management wont work at PFC. I have not got the time I am afraid to cover this in as much detail as I wanted time is very short at the moment. Basically tighter management will cause even more costs and problems I believe. I have seen management on large projects before crack down on manhours, manhours is what contractors sell, and by doing so they try to rush a project. This has the knock on effect of wasting time producing poor documentation which begats even more as other engineers use that information to do their part of the project. Its like building a house with bad foundations. A project will take the time it needs if you rush it all you do is bury problems which emerge later much bigger and costly to fix when time is short. PFC have 2 added problems. They have I am pretty certain underbid for the contracts as they needed to win them to bolster their share price and balance sheet. That means they are starting behind already and profits will be slim even if they execute properly which is unlikely as I said projects will take the time they will take, they are non linear as the design progresses things change and rework is needed and if you are short of manhours to start it all gets very tricky. I am pretty sure this is part of the reason they are in the trouble they are in i.e. taking on work cheaper than other contractors, as I said before very few contractors will bid for ADNOC projects as their demands are too difficult to meet for the price they want to pay. Second problems is their main design office for the Middle East is in Sharja and is mainly populated by Indian national engineers. In my experience of working with departments of Indian engineers is that their culture in engineering is very odd, they hide problems to the point of blatantly lying about anything. I have seen 2 projects I have been on suffer badly from this, one where I was in charge of them. I now avoid any role where I have to be in charge of Indian based departments. You can see how this would compound issues when trying to manage tightly any work force. To do it you would need more engineers to check everything pushing up costs. Again, a reason I see why PFC have suffered in the past with back charges from the clients. As for selling PFC’s main asset if you want to call it that is their pipeline of projects without that they are just offices with one or two engineers as when there is no work engineers are fired in this industry literally to the point where work forces can go from 1000s to 100s and all experienced engineers leave as fast as they can leaving the inexperienced and useless ones behind. So as the pipeline of projects I suggest are mainly underbid and some with ADNOC who very few want to work with why buy the company? Why not let it fall and wait for the contracts you want to goto rebid? The industry is very busy just now I get calls every couple of days about jobs. The price would have to be very low for someone to want PFC. All in my opinion, I don’t hold, DYOR. |
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