Member Info for Glowacki

Yesterday (30/11/23) two hedge funds increased their positions..One now has a massive near 2%..Today must be yet more shorting..People on here say they will be caught out is update is good,but even if it rose 10p they would still make huge profits as it started in the 40s

So it looks like the shorters are prepared to drive the company into administration..Once that happens the hedge funds are not obliged to buy back the shorted shares..It then becomes 100% profit for them..

In the US recently,Dicks sporting goods, Nike and JD Sports all gave profits upgrades due to excellent trading in America..Doc is poorly managed is the real reason the company is not doing well..Every time results are poor they increase the price of the shoes,this removing more customers from the equation

Looks like a bit of director buying,hence the spike in SP

Seriously though.That big off book buy order was probably a director buying..l understand shorters are not allowed to trade off book

Looks like normal service resumed.l guess the shorter was hungry and went off for his breakfast,as shares went up..After his bacon and eggs and hot coffee he resumed his selling, quietly humming to himself

The Times reported some time back that selling the £3 billion portfolio of mortgages might realise a financial gain for Metro of between £80-£100 million depending on what the buyer is willing to pay.

Heavy volume again this morning but with limited downside, suggesting one fund is buying back but another increasing their short position...I am beginning to think the shorts want to drive Petrofac to bankruptcy so that they are legally not required to buy back their positions and maximize profits

On the 28/11/23 Petrofac became the most shorted company on entire stock exchange...7%

An astonishing 5 yes 5 hedge funds shorted the shares on that day.

27/11/23..Two new short positions disclosed (one was a huge one)..So 6.4% now out on loan..I suspect today 28/11/23 has seen biggest shorting for some time due to dramatic SP drop..Petrofac have to be in financial distress otherwise we would have had a reassuring RNS..

Your right..Just checked and they disclosed yesterday but short was 24th...Today must be heavy shorting going on with nearly 11 million shares traded

New short position opened up yesterday..l suspect increasing their position today..Petrofac are obviously in financial difficulty and now with low SP impossible to get a rights issue away to alleviate crisis..Have to wait now until December 20th for trading update..Shorts might stop selling to flatten out the SP,but they will not be closing positions until after update at minimum

Another short position taken out yesterday, Monday by a new entrant.. Speculating that the next results will disappoint and then close positions

In the prospectus,Metro set the timetable at 27th for approval and 28th for the half a billion extra shares to be admitted to trading on the SE..Today the board says the do not know when exactly the shares will be admitted to SE as they have yet to collect any cash from new Investors...So have to wait further to see effects of the massive dilution..Shorts not selling as they see further downside when dilution occurs

Tomorrow 8am..RNS via stock exchange..Half a billion more shares will be added.

They are hiring because business is booming,with many contracts awarded recently..However a contract is not profit.One small error,and the contract is done at a loss...Shorters know that management have made several losses on contracts that should have been profitable..They are betting that this will continue.

Usually the answer is yes,as people sell their new shares..However this time the shares should actually rise after completion..This is because the shares are at a rock bottom price,and people will hold on for medium term,much bigger SP and profits on their holdings

Last year interims were in August and update on 28/11..However this year interims were in late September so either no update,or one in December..Finals are on 28/2/24..

If you go into the RNS section on this webpage and open note dated 9/11 Publication of Prospectus.Itbhas it there.

Also forgot to mention that the actual £600m of debt on the company's books is at an incredible interest rate of £350m @ 12% and £150m at 14% (this was the hefty penalty for the bond holders to extend their repayment terms) It equates to around £63m in interest payments in first year.

On the 27/11/23,an EGM is called for to accept the entire fundraising..On the 28/11/23 half a billion extra shares will be issued on the LSE..l could be wrong but that is around four times more shares than currently available.So on a current SP of 40p,the price could drop to 9/10p..The newspapers are reporting that existing shareholders will be effectively wiped out..The messages from the directors is opaque at best with no ex rights price given.. Because of the unknown l sold my holding and will look again on day of the massive dilution to see effect it has and if l am wrong will buy back.