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I agree - HKK.

But Short HF's have to buy back and then give them back shares to the original owners at the price they done the transaction or at least better I think. As in, now that I think about this, it was Azvalor Asset Management SGIIC SA who took out a huge position and J O Hambro Capital Management Limited.

Was it these two who decided to borrow the shares out, because there is no other I can see being listed to be able to do such thing.

Thanks for the clarification - HereKittyKitty.

Hi Ivor,

I think you are 100% on the BOD problem. A takeover with a good price would likely want all BOD gone, and we know the useless BOD would do anything to avoid that.

They need to get the best price for us and go. Simple.

Morning all,

I recall there was a call to limit/ restrict 'Short Selling' position disclosure in UK - this has been going on last year. There have a been a lot of changes going on this topic too. I have a feeling the trackers used for reference are no longer accurate or up-to-date.

https://www.fca.org.uk/markets/short-selling/notification-disclosure-net-short-positions#:~:text=A%20public%20share%20notification%20must,0.1%25%20change%20above%200.5%25.

Can anyone else help to confirm this please?

I am hoping next week, we will get the news we are all hoping for and need.

A good deal for the shareholders without the BS

Have a good weekend all.

BOD/ Directors NEED to buy now to show their backing and faith in PFC along with their abilities, if possible.

Thank you Maverick!!! Amazing read for me.

I am sure this has made Friday for many of us, deffo for me. Is there a link to this article please, hoping I can do some further digging in to state of play.

By the way, since 8am, I have seen trading on my side go to indicative many times; a lot of buyers but also day takers are playing now.

Per the article, I am just hoping like all LTH/ investors, TO move will see PFC back to where it should be.

If BOD do anything for us, I hope it's take-over at £1.00 plus!

100% agree PFCVetran!

BOD need to be 100% crystal clear and transparent and definitely NOT release pointless and useless RNS that tries to destroy the company.

As much as I would love for a takeover to take place and we get an amazing price per share, I think this is the rise of the relief that PFC has been given a new life-line and a chance to start clean slate. So I think these are the prospective buyers coming on the news that 'cash' agreement has been made.

Like yourself, I also asked the same question - what is the real impact on the ordinary shareholders. Is dilution 100% on the table - when will that happen??

Good morning All,

Things have really turned the corner for PFC - I do think that news we needed to hear was NOT from PFC, but external media/ agents. Therefore, I would like to thank everyone who contributes to great news/ feeds/ comments - I didn't name all but I really appreciate and value them.

Mav - I think you are right along with everyone else that PFC price is going to be in the 20-30p range for now.

Can I ask though, the deal PFC are trying cutting per what I read (not buyout/ takeover option) - will the existing shareholders be diluted? Is there any option on the table where it is just 'good faith' believing in PFC deal-pipeline and it's prospects only, and because a handful have that kind of cash, they are willing to support.

Makes sense and I agree - (we) would be extremely happy and delighted with the current BOD gone.

They add very little value or NO VALUE at all and earning millions of pounds in the process.

There are so many investors before my time who I am sure are fed up/ angry with PFC not doing the basics. Honestly, I appreciate the past was tough times, but other companies can rise above and produce results.

PFC BOD try to make everything look impossible and sound stupid in the process - this is really not rocket science.

Finally, I do 100% welcome takeover at a decent price of at least £1.50, and as long as it does not impact or wipe-out our shareholders - we are the company at the end of the day!

I've just done my contribution for the day; 174,789 units.

This a very positive news, but I am angry that somehow external agents/ companies/ news always seem to have the good news before PFC bothers to communicate it. We have spoken about this so many times - it's not that hard for PFC to just post a news article!!!!

Are they just some of the biggest idiots in the important roles or something. Consistent and timely comms is everything now. They need to build confidence without us having to go digging for information.

Thanks for posting this by the way.

If only PFC was a GameStop moment - would solve a lot of issues especially on the short hedge funds.

There are still a lot of people that believe in PFC; the movement today shows the backing.

I think like in the past, PFC have something up their sleeve - it is all or nothing now.

CEO: "Petrofac will return to sustainable profit".

To make that statement, I can only think that they are just very poor in actual communication and not really able to communicate what is going on with PFC. Yes, the numbers speak for themselves, but it does seem like there is hope here. As long as the are doing what they claim, they company has a chance.

The operating models were a joke, and they need to get some damn good employees who understand extremely strong engineering delivery to budget and deadline with profit left over! The key projects from 2023 are being received well - as always they need to get better with communication and of course money management is everything.

I am holding.

Have a good weekend all.

Since it's an annual result which 999% of company have to do, especially one that is size of PFC - there should have been broadcast/ webcast details to the public. These lot always seem to have extremely poor time keeping and management. Are they planning to just give out results in text form and not a video conference?!

Hi everyone - hope you are keeping well.

I would welcome some thoughts on the prospect of takeover on PFC. Who are the potential candidates, what could be the offer per share etc?

Thank you.

Although we (us on chat) dont know the future, it seems like pure basic management f-up on how to do basic business duties is very apparent.

HL Head: Trading should be resuming upon Year End publication as we already know. I was thinking PFC are hiding things, but it is a mixture of constant screw up and poor management of comms and day-to-day activities.

https://www.energyvoice.com/oilandgas/north-sea/552529/petrofac-asset-sale-on-the-cards-over-debt-challenges/

Also, on 25 April 2024, majority of analysts in FT have placed a HOLD and BUY position, not much different from past position - several months ago. To me this is saying, there is confidence with caution outside of PFC and PI category.

OR, this could just be part of a big plan for Shorts and other trouble to move out of the way?!

To everyone posting insightful content - thank you.

To the point of employment, I am very curious to know the education level and experiences of past successes of the BoD.

If they only have PFC to show for it, then we should be actively calling this out.

Sm66 and others on similar points - you are right!

This is a maths/ number problem and what they need are extremely good financial accountants/ planners and strategists to manage the immediate risks and then the Portfolio Managers need to be of the highest quality - those that can manage complex engineering projects, and deliver with high quality and within budget to make a profit.

The points about interest rates, covid - fair enough, but have had plenty of time and our patience to get things right. This is not a problem beyond good smart people. They lack basics in communication and anything from what I can see - can be compared to children in my view.

Poor timing on everything.

Constantly missing deadlines and key public updates is only allowed a handful of times - which is also another reason FCA and other institutions will come down heavy. I have a feeling there has been a leak to Shorts and one thing about PFC is things always come out.

If the worst was to happen, the shorters have nothing to gain either right?

They would be forced to close positions by default and then probably return some form of payment to the original owners (depending on agreement).

I was speaking to a friend earlier today who specialises in Corporate Financing - the suspension can take place due to misfiling/ missing deadlines or core information withheld. That's what I am keen to understand.

Additionally, he told me the suspension allows the company to focus on urgent matters, which in this case is the financial restructuring - so it's not always the doom and gloom.

In all honestly, so many of us have said PFC communication is one of the main causes of this situation we are in now and have been for some time!!!

There has to be a disclosure behind the suspension - have they not filed key information/ documents?!