The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
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On little volume.
Yep these are definitely RSA’s maturing from an executive equity incentive scheme. If you look at the report a number of other directors are showing purchases of £4999 in PFC stock.
These are share releases from the scheme that happen automatically at either 3 month or 12 month intervals for the duration of the scheme , irrespective of current SP considerations.
To be honest if they were buying such small amounts on their own initiative, given their likely salaries, i’d be more worried about their lack of faith in the future prospects of the business!
RNS says
"These purchases are in line with the Company’s remuneration arrangements, as published in the 2022 Annual Report and Accounts:"
Maybe I'm wrong but I thought that was part of his renumeration package.
Given the nature of the pessimists on this board, they will probably make something of him being 5p short of the full £20K
Petrofac revealed on Friday that chairman René Médori had acquired 75,820 ordinary shares in the London-listed energy services company.
Médori, who previously served as Anglo American's finance director, purchased the shares on Thursday at an average price of 26.38p each, for a total value of £19,999.95.
Following the transaction, Médori holds in interest in 660.040 ordinary Petrofac shares.
Lenders will assure the contracts they have recently won are profitable, will probably audit Petrofac accounts and check contracts.
I can't imagine Clients will be paying in advance if Petrofac were in Critical risk of bankruptcy
This person from share cast is as good as i am in financial world.
have a read
https://www.sharecast.com/news/dealings-round-up/director-dealings--16556693.html
Well HTG and Wood Group are reasonably healthy...Come on PFC Giddy Up !!
You think the banks are going to lend without Petrofac proving that they will be making money from all the new profits.
Auditors would probably be in to review and confirm the contracts are profitable before they lend any money...
UPSIDE FROM HERE XX P-T 100-150
IN MY HONEST OPINION X
May I comment without resorting to abuse. A Company's accounts are released to the whole World on a certain day-bankers or anybody else for that matter do not benefit from prior knowledge for reasons that are blatantly obvious
Also switched 40K (mine/wife’s allowance) into ISA and sold out of my funds account to gather a tax loss to offset heaven forbid a return to profit. At least try and use the tax frameworks to an advantage. 88% in the Isa pot now
One small plus for me today. With the start of the new tax year, today’s dip means that I can shelter my last 75k Petrofac shares in my ISA utilising the new allowance.
Thats my entire PFC holding now held within my SIPP and ISA ready for profits to be tax free when the share explodes!
Yes that might be wishful thinking, but what else can we do while we wait for our fate to be decided?
Not too long to go now. Hopefully financial restructuring & results announcements by the 30th…:..with another new contract RNS as the cherry on top please!
Bank facilities nvkuding covenant waiver expires in October. Debt matures in November.
The market seems to value Petrofac at around 24/25 with no news, crap cashflow and loss making. Short positions have reduced slightly. The gamble is that the news resolves the cashflow and profitability issues. Then we see 100. Until then 24/25. Like waiting for a bus at midnight.
Try to keep up. They put appropriate measures in place Oct / Nov time to address the finance issues.
Without news n financing this will go sub 20p without a doubt, there’s a reason it’s the most shorted stock on the market, and that’s based on news in the public domain. I think the management are atleast now doing the right things to address it.
Cash flow is not the only issue to be resolved, the issue of profitability will keep hanging for a while.
Absolutely correct Ivor. I worked at Shell on the BG acquisition, at least 1,000 people involved across the companies, banks and lawyers. Nobody knew when it was going to be announced outwith those on the deal and nothing leaked. I don’t think the 1,000 people went teetotal for the six months of putting the deal together
The idea that bankers are helping short traders in the pub on a Friday night is so unintelligent. Every banker I have known would rather lose a little finger than blab. Like lawyers who blab bankers are finished if they do that. Petrofac is small fry and no banker is helping anyone at all. Only a few tightlipped people know anything at all. If those with short positions knew anything at all they would either massively increase their short position or bail out. What a really stupid suggestion to make. Bankers live or die by keeping their mouths shut. Moron.
Omars
RE: Takeover 10 Mar 2024 18:04
My prediction.....Takeover offer before finances are sorted
Thank you to the poster earlier this year who mentioned Kodal Minerals on this site. Had never heard of them before. A huge winner?
Dyor
Lol this is Omar. A D4E is coming our way whether we like it or not! Insider knowledge/ stock knowledge is everything in stock trading. Sadly, the bankers are drinking on a Friday with their uni mates who are shorters and this is where knowledge is transferred. People need to wake up! Sad truth is that FCA can't investigate everything this is why the UK stock market is regulated but unregulated!! Sadly retail will always get screwed!
And the answer he can come up is below
"PT 150+ WITHIN A MONTH"
Who are the inside buyers Omar? Keen to know what you think you know.
Inside buyers more contacts won.
Price floating around the same range for over a month, find bottom ready to blast off