Member Info for Dr_Kaboom

No change in shorts.

Personally, i feel that high percentage rejection of financial report and auditor is a red flag.

If they do introduce an annual dividend around 0.5p, that will provide a yield of ~10% at current prices. Not bad at all while we await a takeover.

Wow, was browsing through the AGM votes and clearly, a few major shareholders were not happy with a few resolutions (the auditors and finals) :

https://www.touchstarplc.com/pdfs/AGM_Result_of_Proxy_Voting.pdf

Thanks SJL.

We will be in this range for a while then :). At least, your discussions with FinCrap will provide a base. Thanks.

He is a samaritan

Johnsmith, where were you when SFO finished their investigations on BAT?

BAT's former employee, Paul Hopkins, admitted to paying bribes while at BAT. Yet, SFO was unable to charge or fine BAT, due to insufficient robust evidence.

Miles, i did not refer to you as a clown. On the contrary, you seem like a well spoken person and make your point across well. I personally don't believe it was without agenda though but that is just my opinion.

No, Auson. Just wanted to give a flavour of previous fines since individuals on this board wil shout out any numbers to suit their agenda

So what does that tell us: crisis of confidence due to SFO (special to PFC) and shrinking order book (same for the whole OFS industry). Both reasons have not changed since Fitch´s last commentary on PFC:
https://www.fitchratings.com/research/corporate-finance/petrofac-faces-mounting-pressure-on-new-orders-from-coronavirus-10-09-2020
Yes, the order book has come down a little more (see the latest update of PFC from December) but not that much. And yes, the SFO has charged that guy a little more. But as Fitch commented: "Petrofac's active management of the balance sheet and capital structure over recent years has placed it in a good position to face the current challenges."

Some claim the SFO thing worries them.. Yet, they bought in Dec when the SFO matter was still ongoing. Just by pure luck, they sold just before the Jan RNS. Ok, maybe the Jan RNS added to that worry, but no again they decided to buy wirh an avg of 115p.

I guess everyone posts with their own agenda lol. I know i do.

Start quote:
What is the largest fine imposed on a corporate since the introduction of the Bribery Act in 2010.
The largest financial penalty imposed on a corporate in relation to SFO casework, following prosecution, since the Bribery Act 2010 came into force in July 2011, was on the Sweett Group which amounted to £2.25m. This included £1.4m in fine, £851,152.23 in confiscation and £95,031.97 in costs.

The largest financial penalty in relation to a Deferred Prosecution Agreement which the SFO entered into with a corporate, since the Bribery Act 2010 came into force in July 2011, was with Airbus Group SE where the total was €991m. This figure includes disgorged profit of €585,939,740, a fine of €398,034,571 and costs of €6,989,401.
End quote:

RR one was less than 500million.

Anyone can make up numbers for the fines, 1 billion, 2 billion... However, personally expecting any fines to be significantly less than RR and Airbus, if they is a fine in the first place.

Share price still being manipulated and i think it will struggle to hold on to gains. If it does, great.

SJL, any idea when you are likely to instruct your broker to stop looking for more shares sub 4.75p?

Silver, i honestly believe they will announce a dividend in next set of results.

Unlike Toby (hope he is rotting somewhere) who overpromised and never delivered a dividend, i reckon TF will announce the dividend when we are least expecting it. As you say, they need to do something with that cash balance and considering the portfolio restructuring/repricing they are performing, i doubt they are about to make another acquisition.

Enfin, BAT is a precedent.

BAT's former employee, Paul Hopkins, admitted to paying bribes while at BAT. Yet, SFO was unable to charge or fine BAT, due to insufficient robust evidence.

BAT's former employee, Paul Hopkins, admitted to paying bribes while at BAT. Yet, SFO was unable to charge or fine BAT, due to insufficient robust evidence.

All part of the same UnaOil saga.

Iron, how about the crash a few days back from mid 120s to mid 110s? We cannot deny the fact that these sudden drops are suspicious.

Anyone been in touch with the comoany regarding the flash crash? Not sure what they can say but at least, they will be acutely aware of the incidents.

The two crashes were a big middle finger by the hedge funds to the shareholders here. Shows who is in charge really and nothing can be done about it.