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Yes, and overall a decrease - after today, let's see which one of them likes to push the limits?!?!

Good finish today. Hoping momentum continues tomorrow and onwards!

Hi Dan,

Just a thought - but I think they might have some awards to declare soon... Potentially Middle-East...

... Just been looking at all the materials published and particularly the TU last week.

From what I can see, indications of new awards are expected - I think this is imminent, and with only a week left, it looks like 2022 has already been 'closed-off' with probably very little changes to be presented.

It's all down to good conduct and communication now.

We should expect the YE particulars to be clean and crisp - focusing on 'drawing a line' and these final stage awards/ preferred bidder.

Also think need-to-know information has got out early - demand is driving the SP...
IMHO

Would Appollo try to make an offer to PFC after taking WG? Probably to have to be another PE firm to consider PFC?

It would be interesting to see what an offer would be for PFC (if any); seems like all offers making respective companies jump big!

Hi Dark_Knight - I assume you have access to the live order book? Thanks for sharing.

I feel quite confident based on the information given to date this SP will start moving to high 70s and in to 80s again from next week onwards.

Hi Dark_knight - good points.

This week is a key week and I think people are starting to read and make sense of the events leading to here and what could happen. Unless there is mechanism where people can freely drop SP as and when they feel like, what other news do we have to suggest there should be a drop?!?

You're right Dark-Knight - there is double to triple gains here for those at 60p or around that in the next year or so. I think PFC have some big deal lined up.

I am wondering what made Astaris (and others) go up last week; I think they like to push the boat, and they had biggest potential loss last time by increasing the way they were.

Personally, I think PFC have pretty much given us the bad numbers already and therefore, will just follow a 'no surprise' Year End. I just have this funny feeling they might announce something very positive next Tuesday too!

Hi Dark_Knight - no worries at all.

Glad to see this is moving in the right direction.

Berenberg Bank reiterated a price for £1.10 last week (12 Apr 2023) with BUY rating - very positive as the SP is very under valued.

I hope so too, Emerald.

Looking at buys and sells, nothing really stands out major on volumes, but has been more buys. Although, other days were more. Something is up today - has there been a leak in the City??

Pictet shorter has gone off the list.

Thanks, johnychainlocker - that is interesting.

@johnychainlocker - hi.

When I spoke to a City firm on this matter and hedge funds - the only real way to impact/ manipulate a share price is to own them; borrowing them for short sell is not the same thing. Essentially, I was told you can't sell something you don't really own. I am looking for clarity from those in the real hedge fund trades please.

CFD's and DFT's are leveraged trades and generally a £ per point (penny) - this is saying they will make a bet with a broker of a long or short - they are really just saying for example, for every penny up or down I want £50K, £100K etc.

The share price should on its own natural merits go up and down based on real market sentiment. However, should the hedge funds also buy real shares, which they can do and then suddenly drop them or stage sell them, WITH a short position, this is market abuse and there it is considered market manipulation which is a serious matter (criminal and civil).

This is why I am saying it is paper-based, because the trade is purely on 'paper' based on price/ penny movement. CFD's are little more complex as they have expiry dates, however, they are temporary ownership which is not supposed to be the same as a companies Share Register.

In short these hedges are taking part in speculative/ spread trading activities and they are NOT allowed to engage in real market shares for their own portfolio gains. If anyone is aware if this with PFC, you should report them immediately.

Personally, I don't think its the shorters alone, but there is other parties - usually referred to market maker or book-maker; if those people are in any way restricting the flow of direction - this is a serious offence.

Look at today- there are just buys and buys coming through but how is the movement of the SP, little upward. HOWEVER, as soon there is a tiny bit of sell, the SP drops, and even drops on NO NEWS, as many pointed out.

Shares are on supply and demand as most of us know; if the demand is there like crazy, then the price has to rise accordingly until orders are filled. Unless of course, there is a NEED to keep the offer price low, which begs the question of investigating the investment managers' and firms acting for PFC or hedge funds.

Agree on patience, but the price movement is ridiculous, and NO ONE really knows why PFC has done what it has. This is the lowest of low. After everything that has happened and a mega contract, how do you or anyone else explain the current SP is a true reflection on real events/ facts. Just saying.

Thanks, Fortissimo. I agree.

How can the 120p be achieved? I see buys and buys going through. Who accountable for holding the SP back? Is there a mechanism for this? If so, what is it. I hear shorters but I am not clear how they are doing this. I understood the borrowed shares are paper-based trades. As such, it can't effect the real-market.

What I have and perhaps others missed in this?

Thanks, Gilljoe - useful Doc and very valid.

I believe the UK FCA also operates in similar fashion - looking out for the BEST interest of the Markets and Investors.

There is a new FCA Financial Services Act going through - it is called Consumer Duty. The guidance specifically calls out all firms to act with the BEST interest for Consumer and the Markets they serve. Although, Petrofac is an engineering/ services company, they are bound by FSMA 2000 (Financial Services Markets Act) due to their trading activities.

So it looks like (IMO) - strongly welcome other constructive views please:

1) They had to extend the results to April from March in order to assess what is the revised losses based on prior disclosure - this is purely an accounting and closed period exercise - they should have been more clear with why there is a delay in order to stop the panic that had happened from 85p range to the silly numbers we got to.

2) They should have really anticipated all the 12 April Trading Update well in advance and well before original March 2023 FY update anyway. The materiality aspect here was not so much what the delta was between the new and previous estimates monetary value, but WHAT HAPPENS when the Markets are left to guess - again highlights how the SP have moved up and down. PFC contentiously forgets that their portfolio is nearly public investors' and with all due respect, most PI's are not going to why there may be an extension/ delay, and assume the worst as pose a BAU process.

3) All businesses are required to make sound judgement promptly - therefore, it is not a PFC company issue as an ENTITY - meaning does PFC have the capability to do well - of course as I have said in the past, but it is just a case of ONLY which employees are doing what.

In short, we need to get over 2022 full year, and we need a clean up of those employees that are not capable. Because fellow investors, we are investing in people to do good job after all. Sami took a hit being the main top person, but he is not alone in this. In my mind, CFO, Investment Manager and Investor Relations should have been all over this. The CEO and BoD are not directly accountable to us on a daily basis, it is Investor Relations and respective Finance individuals.

Welcome thought's on anyone who can assess how the price will shape between now and 25 April 2023 please.

I mean, full year should have been done and dusted in MARCH as planned. Then few days later the TenneT 13billion on 30 March... To me that would have been what everyone is looking for right?

So its done with the 'cr@p' and now sky is the ceiling, with pipeline to follow.

So since PFC knew all this INFORMATION why not do things strategically to company's advantage?! The 2022 full year was originally planned before the TenneT news.

I am just going by what we have seen. SP would not have been in the 60p now, it was the delay with investor updates that led to frustration as we have seen - just saying.

Indeed.

It would have been ideal to close off the 2022 full year with all the news announced to date, and THEN the big award with Hitachi would have set this stock flying because the not so good 2022 would have been completely out of mind for pretty much everyone knowing, we are done we 2022 and we are going in to 2023 with the biggest deals of PFC history.

For whatever reason, they just keep getting the timing of news not right. That is just how I feel with everything observed, because the shorters were waiting for 2022 full results and would have been considering to come out and then to get the 13billion shock straight after would have caught them off and the confidence would have been nothing but the sky high - we should have been over 100p with the information released.

Just my thoughts away.

@ Dark Knight - that's right.

Millennium Capital has gone over the 0.5% so they got added to the declaration table.

I noted a 1.135 millions shares as BUY after market close. I think since a few of them have 72p open, they have been closing today and past few days, so would be looking to get as much as possible before we start seeing the upward move.

It makes sense now why they waited this long - they knew PFC had to declare financials sooner or later and the drop was expected.

I think so too.

A few of them have already made more than 10 point gain, for them to still hang around would most likely be because they are not able to close so many options at once.

Systematica is under 0.5% and I think GLG would consider to come out since they are close to their open price. I would be very surprised if the others don't close on today's update.