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You will lose a fortune....MAD
Another CARILLION
All we will see tomorrow if shorters have managed to reduced their shorts. That will indicate, how they think things will turn out. Have almost 200K shares and not selling any. Risk/Rewards are in holders favour.
" Whatever it is this is going to generate a huge number of new shares "
well, you can soon solve that problem ....with a consolidation ... seems a likely next move IMO
This is an object lesson in how things can go from bad to worse.
In the RNS on 12th April the company said they were in discussions with certain major shareholder regarding potential further investments. These were the only people who might have had any interest in keeping the share price higher. They have clearly either walked away or been unable to raise required funds.
The fact that bond holders are even considering putting in new money in return for more equity - on top of the D4E swap - tells you all you need to know. That they think this is the only way they can prop up the company in order to salvage something from their investment. And if they are having to do this - when even major shareholders cant or won't - then clearly existing shareholders are going to be as good as wiped out.
Going forward they have to ensure that 'New Petrofac' are well capitalized enough to progress the order book - and to give confidence to customers - otherwise there will be no new orders.
The risk is that they will put in just enough to keep them going in the short term.
The price of the D4E swap and capital raise is almost irrelevant. Whatever it is this is going to generate a huge number of new shares which are going to be held by people who really don't want them. Its going to create a huge overhang of shares which will take a very long time to clear. Some will no doubt exit at the first opportunity - others will wait and sell into any price rise in the 'new' shares.
We haven't seen the details yet - but it doesn't look like 'New Petrofac' is going to be an attractive investment.
I have been telling people this for over 2 Years..........
The RNS suggested to me that the Auditors are not satisfied to sign off the going concern area of the Result Account Audit ...given the current situation of fluidity and debts due etc ....
Either way, I should have taken the warning signs, as I've seen it before and ignored you in anger
"...the result delay has killed the last chance of raising at above 15p."
with these things..I suspect..there are often leaks as to what the negotiated price is hovering around..and the market moves to that leak
The share price would never dictate to the bondholders what price they might have to settle for - IMO
A good Samaritan warning us all along.
The RNS suggested to me that the Auditors are not satisfied to sign off the going concern area of the Result Account Audit ...given the current situation of fluidity and debts due etc ....
hence the suspension in order to finalise the solution , the alternative being that the Auditor may then not sign the audit
The D4E default seems inevitable along with accepting new financial support too.... the share price trying to find the Equity exchange price and adding some risk in case it all falls through
The final part regarding who has what scars to show for the damage done these past few years
Looks like the skids are on to 10p. Better a dip than a slide.
I doubt the D4E equity price will be more than 10p, the result delay has killed the last chance of raising at above 15p.
Doom merchant which became Manifested and self fulling.
A good Samaritan warning us all along.
Or an Insider with more info than that public Joe.
" Shorters have to borrow stock from institutions and those institutions are demanding much higher interest payments to reflect the opportunity cost (or rather potential loss) of not being able to sell now.
Some lenders are calling in their shares so that they can sell now, squeezing some shorters."
I would suspect that many II holders took out some kind of Derivative some while ago in order to hedge against the falling share price ....lending shares may well have assisted that Derivative protection bet...
Such derivative protection hedge would continue as the SP falls
I somehow doubt they would lend to shorters in order for them to heavily assist the falling share price without having some benefit for themselves, on their side of the table
25p
Major tree shake this morning scaring off any weak PI holders. Bravery required here. Not selling a single share. Don’t miss the bid guys if ur thinking of selling
The share price @ 4.30pm tomorrow will determine the D4E dilution ratio , takeover/ RTO or MBO price ?
If you’re not holding or adding why are u commenting. PFC fine long term - further investment wouldn’t happen if it was not going to be fine. Just hold and stick with it!
Worth a punt?
OK, 'well done to you' Stalinvest - is that what you're looking to hear?
I told you all, this was a dead duck, quack quack. Who listened?
£17 to 0.15.....Get your facts right......
"They have not said anything significantly alarming"
$200m equity refinancing for a $100m company = 80% reduction in value for current shareholders.
The question is whether its enough. Package is $300m, should release £200m, we will still have the debt, its gives a group of bond holders most of the company, they will want all of it I suspect.
I just sold all my PFC taking a big loss but this is no longer an investment it’s a gamble! Good luck to all those who stay and I hope your all lucky.
Tax free losses, that’s a first even for here! Mary won’t be impressed with that.
Tony, a girl can change her mind.
fwiw was responding to a direct question. Off out for a while now so you can reign supreme.
Mx