Member Info for Garydav2

I wonder if this might get bought out you know....

Bought back in at 1.62 …..

The Director Buys were all in the 180 to 190p range !!

Bought a tranche at 14.78 that's 13% down on day. A small punt as going to be volatile for a bit. Even after the RNS clowns on ADVFN predicting 25 to 50p!!

Still in auction. Orders only ....

Was 15.56 to buy now in auction....

16 27

Correct it's in Bankers hands now .....

The full year free cash flow guidance1 provided with our interim results was based, in part, on unwinding historical working capital and collecting advance payments on the new contracts secured in 2023. While the Group has made progress in reaching contractual settlements and unwinding working capital, given delays in securing advance payment guarantees, it no longer expects to receive these advances before the year-end. Consequently, it no longer expects to meet the guidance previously provided for full year cash flow.

So they haven't been able to put performance bonds in place, haven't collected the cash that they were anticipating and are now in bankers hands. Also exploring sales which could turn out to be fire sales. And bringing in a new Executive to get involved with sectors, banks and shareholders.

It's good they have released news from themselves but does make you wonder how all the Shorts must have known about this all along.

Fingers crossed for holders here but I'm not sure how the market will react to this .

Good link thanks . So the Fool are also quoting JP Morgan which many on here were quoting FALSE NEWS over the weekend. Well that's too banks now quoting concerns.

10p

Looking at the accounts the last 3 years they have losses totalling £780M and net assets of £112M. If things have materially been worse this year then losses could be over £1bn in total since 2020. Coupled with borrowing, higher interest rates and cash collection already proving a challenge (reported in the half year) you can see probable reasons for the dramatic falls and not all down to shorters!

Apart from the SP Stockbuster! 80% down from August peak. You don't see many falls like that end well. I tend to agree with your 10p level. Then might be some trading value who knows? Seems most people's predictions here been wide of the mark Good luck

Excellent well written post @FufilNikku and definitely deserves a reply in return. So I was transparent in my dealings and hoped to make some profit which I didn't but came out reasonably unscathed. What annoys me is I have tried to create a counter view to the rampers who have been telling us to buy all the way down. I have posted previous similar situations and also extracts from articles and recent news . I do feel for LTH's but when you see this kind of movement it generally does not work out well. I do see a chance for a further trade here but what will signal a change in direction. The next update is the 20th Dec and until then this board will be full of posters all with their own agendas. Good luck to you

Berenberg said Petrofac's equity was down by nearly 70% year-to-date and its bonds trade at a deep discount to par. The analysts noted that concerns were centred on liquidity, with financing facilities of roughly $250.0m due to mature in October 2024, and whether bond covenants have been met.

You need to limit your losses and ride the profits bell*** . There is no floor to this SP at the moment. Was 30p last Monday and 17p on Friday. Who's delusional . So many grasping straws here

Why am I daft? I had some little trades here and made 5% one day and unfortunately lost 12% Friday. Thought it would be in a range around 20 to 21 but unfortunately it's just sinking . I accepted my loss. Let's face it all those who have held or have recently bought are down. That's why theres so much desperate ramping on here. Maybe when it hits 10p it might be worth another look. GLA

Well all those waiting for a good news story over the weekend well it hasn't happened. Only negative stories / rumours around. Tomorrow will be interesting next leg down ?

We're definitely into long term investing, but some companies are simply bad investments over any time frame. We really hate to see fellow investors lose their hard-earned money. For example, we sympathize with anyone who was caught holding Petrofac Limited (LON:PFC) during the five years that saw its share price drop a whopping 90%. And some of the more recent buyers are probably worried, too, with the stock falling 44% in the last year. Even worse, it's down 28% in about a month, which isn't fun at all. While a drop like that is definitely a body blow, money isn't as important as health and happiness.

After losing 20% this past week, it's worth investigating the company's fundamentals to see what we can infer from past performance.