Member Info for G-Man11

the director buys yesterday at 181.7p?

Bare in mind they can only buy when they don't know of any news that will significantly change the SP.

It's very telling they bought straight away yesterday - tells me they wanted more quickly before they have news to report.

This is a buy signal for me and we are currently sitting less than what they paid

field day here. They've jumped on the back of that news that the SFO are still investigating the matter.

Sorry to disappoint but this is completely normal in any investigation. Let me be clear, Petrofac is completely in the clear now, there are no trap doors waiting round the corner.

The SFO have found them guilty of the charges they pleaded guilty to - that's all.

The SFO know 'what happened' but they need to investigate 'why it happened' so it can prevent similar scenarios in the future.

Any deramper who tries to use this as a way of driving down the price is simply pathetic and wrong.

The SFO are duty bound to investigate on why something like this was allowed to happen. This is normal for any investigation.

Petrofac is now in the clear, completely in the clear.

Essentially, the SFO have concluded what has happened, it's now a matter of finding out why it happened.

I agree, although I don't think we will get contract news that soon (I hope I'm wrong).

I think we will see an RNS this week or next confirming we can compete for contracts in UAE again.

SP can now start to move upwards - nothing holding it back

will surely install confidence now. I'd imagine we will hear news very soon from the UAE that we are allowed to compete for contracts again.

Thought it may have tickled 200p again today but it looks like the market will have to wake up some more.

Quotes "the penalty was significantly lower than feared and does not bar the company from bidding for public contracts"

The market hasn't woke up to the news yet

to open up the gates to Petrofac again. I'd imagine we have been in talks with the UAE with the sentence looming and may already have some contracts to compete for.

This would be huge for the company as the UAE accounted for 10% of our revenue in 2019.

I also don't think we will need to raise.

I think it's important that we don't underestimate how big a win this is for Petrofac and shareholders

to talk about now. Oh well, bye bye.

200p let's go

They probably won't need an equity raise at this price

Yeah just read £77m at the current exchange rate. What a win for everyone.

exit here. I think everyone that's invested here will be absolutely delighted with £77m fine. That's a huge win.

200p onwards now

win..... what a result. Don't think word has got out properly yet as the markets not really reacting.

Y11,

130p - no danger.

Think you'll see an almighty reversal when the fine amount is released today. Everyone knows the worst case scenario amount and are happy with that.

There will be no need for dilution either. That's simply a tactic used by Petrofac to get a reduced fine

Y11 I think you'll be waiting a long time

MaryBr,

It's court so it could be anytime. Hopefully before lunch time like the last hearing

close out soon as anyone with an ounce of sense will know the SP is going back up as the day goes on. The 200p won't take long to breach and I fully expect a significant reduction in the fine. Good luck everyone, today is a good day for Petrofac

As far as I'm aware, court proceedings are closed at the moment due to covid. But journalists are allowed in.

until news of the fine are disclosed. Be interesting to see who holds or who cashed out before then

If it has then that's good, hopefully sentence dished out before lunch and an RNS this avo

There's no such thing as a set time in court, they will have a long list of cases to get through and ours will be called whenever they get round to it. They may want to get intermediate diets etc out of the way first.

If the case hasn't been heard before lunch, I'd imagine the RNS will come after hours.