Member Info for Bladey

That small paragraph really shows Petrofacs presence in the Middle East, thanks for posting E_AL.

Three's a crowd?

IMO, ther'll be no further violence on inauguration day, especially on Capitol Hill. Yanks that last attended on the march, have their faces plastered all over social media and are on a wanted "terrorist" list by the FBI... So they're already crapping themselves, (as seen on the news).

With the current military presence surrounding CH, I doubt anyone would even raise a pea shooter for fear of military reprisal. They were all "Gung-ho" when they last descended on CH because of less police vigil and used the preyed on the "surprise" element to storm the buiding. I'd like to see 'em try that one again lol!

On-top of all that, most saw Trumps true colours as he changed his tune against the love of his supporters by turning the tables on them afterwards!

Either way, i'll be watching with pop-corn at the ready!

IMO. Peter organised the bribe and got Paul to authorise the payments. Both Peter and Paul have left the company a long time in a galaxy far far away!

Peter got caught, sh4t himself and implicated Paul, (and anyone else), company has been under new direction ever since they left and has operated under all rules and regs.. Hence no current employers have had charges in regards to this case brought against them by the SFO.

I would agree should the matter been dealt with within a year or two of the investigation, PFC would/could have had to pay a fine as the contracts would've been relatively fresh as were the profits. Moving seven years on, one could argue that PFC has operated within the Law since they, (criminals, accused), have left.. so they themselves were the instigators alone and should be heavily punished... and not the company as it now stands. I feel that PFC will not end up paying a fine, BUT the charged will...and should!

Let's see what happens

£500Million???? lmao...where?..How? more importantly did you come up with that figure? That's more than the current Market Cap... clearly that shows you're talking out your rear end mate.

My condolences to you and your family RW, absolutely gutted to hear the news that Nige has passed away... He was an extremely familiar and well known poster on many of the BB's. I pray you all find strength in in these dire times.

He will be missed, and may he rest in eternal peace.

It matters little right now unless you're here for the short term... Those invested for medium to long term know that once flights have been re-instated, this price range will be in the rear view mirror. Going to keep out of this bb for a bit, spending way too much time here and the Govt. keep moving the goal post, so there's no point.

I appreciate your post Opulentia, and I would wholly agree if under those said contracts in question the company dealt with them underhandedly,outside the limits of the law or ignoring environmental laws/procedures. That wasn't the case as the company treated those contracts with the respect due by any diligent company.

At the end of the day, the individuals, Lufkin and associates are the ones that started the illegal activity and harshly punishing them would be enough, or in a bid to dissuade others to attempting to commit in similar criminal activity.

Furthermore, I think it would be fair that if the company itself, in its current day situation was to take any blame and be fined, then also those who dealt with Lufkin and associates, be it individuals or company entities were also brought to justice under similar/relevant incrimination's by what ever section of presiding law in each domain/country if the SFO doesn't have the jurisdiction to undertake action.

Pro-Covid and up to and including the current sp fall has already wiped nearly £1 Billion off the Market Cap, alongside the fact that I believe any unbiased Judge/committee will take this into consideration as the company now has entirely co-operated with the SFO and the currently employed have no involvement in said crimes and therefore NO CHARGES have been bought against them.

Under the current pandemic climate I would be very surprised any Judiciary committee would impose a heavy fine, if any fine at all! Should the child be blamed for it's parents mistakes? Price of Brent is low and and Covid is rife! By all means punish the feckers that reaped from the ill gotten gains to your hearts content from the former employees. Rip them of all their assets and stick 'em in a cell ..but the current company has still grown from it's own diligence.

What I'm trying to convey in my last post, (if it wasn't clear enough), the SFO are targeting the individuals, Lufkin in particular and other ex-employees, (and strip them of their ill gotten assets), rather than PFC the company itself!

As simply as I can translate it.. Lufkin is the man that will be the one bearing the brunt by means of a prison-able sentence, (possibly), but if guilty and proven most definitely a heavy fine... How heavy is up to the courts to decide and how much he's profited from the prior dealings in question.

The other question is how much did Petrofac benefit from the contracts and should they be liable NOW and be slapped with a fine. Personally IMO, IF they're slapped with a fine, it will be small, (IF slapped with a fine at all), since we're talking about contracts from the best part of a decade ago. Since the alleged members and the charged, (Lufkin), have left a while ago and the company has been operating within the law since and adheres to, (as do all current employees), as they, (Petrofac), put it:-

"Petrofac's management is committed to operating at the highest standards of ethical business practice. Petrofac continues to engage with the SFO and will respond to any further developments as appropriate."

..And since, have been forthwith and co-operating with the SFO to aid their investigation.

Let me break down the current and latest RNS for you..(also, where did you get a Feb date for the court case?)

"The Serious Fraud Office has announced that a FORMER EMPLOYEE of a Petrofac subsidiary has admitted additional charges under the UK Bribery Act 2010. These charges relate to three historic contract awards in the UAE in 2013 and 2014.Petrofac confirms that NO CHARGES HAVE BEEN BROUGHT AGAINST ANY Group company or ANY OTHER OFFICERS AND EMPLOYEES. A small number of FORMER Petrofac employees are ALLEGED to have acted together with the individual concerned, although NONE HAVE BEEN CHARGED. NO CURRENT BOARD MEMBER of Petrofac Limited is alleged to have been involved.Petrofac's management is committed to operating at the highest standards of ethical business practice. Petrofac continues to engage with the SFO and will respond to any further developments as appropriate"

I have stated the main points in capital letters for those who seemingly can't read or understand a simple paragraph in an RNS!

As far as I can see, the share price was targeted for other reason, using this RNS as a vessel to bring down the share price, and will be corrected next week.

Lol.. Some people really work hard for their short, pulling out articles nearly 2 years old that would've been priced in back then.

FFS, how transparent can you be..lol

On top of that... I would be very surprised they haven't taken advantage of this drop. Legally there's nothing stopping them from buying shares on a drop created from hysteria around old news.

Exactly Branson spot on, we're talking about 2014 lol, this has already been priced in long ago and shouldn't reflect on current trading, so makes really no sense tbh.

Just an excellent chance for large entity to buy in and mm's to take advantage...simple as that.

God, seen these sort of drops time and time again with companies... those here in the business long enough know this will recover. Just let the MM's have their fun, blowing through stop losses. Guaranteed some large entities will be scooping up all these sells. Best to see the large buys reported after trading finishes.

Agree, pathetic news for this style of drop...Sure the MM's have smashed through loads of stop losses coming down to this level.

Also topped up more on previous buy.

Drop is way overdone now, MM's having a field day. Should return to over 130 by close today IMO.. Roll on next week!

FED stimulus talking to look at 2 trillion support, all trickles down the vine in market recovery and sentiment over to the FT, Go-on ma'son Biden... End of Frump season finally coming to a head!

CW, not sure what good news you're expecting.. currently it is trading range with general market. Far as i'm concerned the good news coming in is that IAG/BA isn't going anywhere and is currently easily weathering the storm, whereas other airlines, as reported, are a going concern or going under, Virgin, Norwegian LH, for example ... which means the focus business is on IAG subsidiaries!

Of course the biggest news is, as I've said before a date set for "wheels up" scenario, and this is looking more confident now as the Govt. has put in measure to curb/kill the virus in its tracks through isolation and mass roll out of the vaccines to stop the spread!... BUT YES, the "Wheels up" News will rocket the SP... guaranteed.