Member Info for johnychainlocker

Out as well PfcVet.

Once bitten twice shy!

Nice to see another well balanced argument from your goodself, again though.

OK, 'well done to you' Stalinvest - is that what you're looking to hear?

Yes Amers, fee is payable right up to borrowed shares being returned, or until liquidation if that is the case

"Shorters closing", "Shorts buying up all PIs shares", Not from where I'm sitting. All Tosh!

Shorts still over 10%, what evidence is there that shorters are closing in numbers. Reaction to the RNS is pretty standard in that the market nearly always over reacts to bad news and same with good news.

LTH in for long term, unfortunately a lot longer than anticipated - win some lose some, but on we go

Sorry to hear of your loss badvoc, hard to swallow, can't blame you with that much wonga at risk. Good luck to you

Every time I trim the bl....y price goes up and every time I buy the price drops!

-was what I mean't to say!!

I know what you're saying Mary, but (for me ay least) it seems anything but 'simples. Every time I trim the bl....y price goes up and every time I trim the price drops!

Hope you had nice cruise

That's a huge turnaround in argument there Oilhead

Quote

"Nice!! So did I Pfc vet.

Funny thing people (should I say shorters) don’t understand is.

Business is on positive territory. Pfc are aiming for 30billion $ worth projects this year,after having secured 8billions dollars last year, well it’s not year end yet. This is the most petrofac forward book as ever been, best it’s ever been as mentioned on the call by cfo and ceo. Emirate have allocated 100s billions worth of dollars for green energy in jan2024 meeting .Pfc are their preferred contractors. UK business is winning some nice work with BP and decommissioning jobs recently.

Even if the share price falls to 20p. Most long term holders won’t bother selling to buy back again. They will simply add more. By next year the books will be balanced and will be close £1 depending on shares in issue after march etc.

If these 11.5% morons are relying PIs to sell on news or etc, they are wrong. Firstly i won’t sell and I hold close to 7 figures shares. risk savy investors would’ve already sold by now as they’d simply wait till news"

3 guesses to who said that only about 6 weeks ago?

Take it you've sold your "7 figure' sum then Oilhead?

Agree Rock. My humble opinion is that most of them probably think they have gone as far with the price fall as they could expect and have decided that " a bird in the hand" sort of thing.

Anyone's guess I suppose, but it would be nice to see 'em clear off

On read back not very well explained. The "On your website you still show Schroders Plc as holding 9.46% of PFC stock.", was not the purpose of the email, it was the delay in the issue of the RNS of 9/1/24, which PFC took almost 6 weeks to provide to market

I'm sure you don't need reminding Talies, but don't forget the issue with the RNS regarding Schroders, see my post of 24/1/24, 18:59 excerpt below:

"On your website you still show Schroders Plc as holding 9.46% of PFC stock.

You were notified as Issuer (Box 1a) on 1st January 2024 that Schroders had reduced their holding from 9.46% to 3.748%.

Although you were notified on 01/12/2023 (Box 6 on TR-1 Form) of this major shareholding change, TR-1 Form was not ‘received’ until 09/01/2024, almost 6 weeks later.

Can you explain the delay please – is this down to yourselves or Schroders Plc?

Can you also explain why PFC website has not yet been updated to reflect this major change. This is misleading."

IR reply was that this was down to a 'technical issue', a tecnical issue which remains unexplained to this day, and has been sidestepped in exactly the same manner as the answer to the latest question regarding the RNS of the 12thApril. The wall of silence, at the time before the RNS was issued in January, was deafening and in my view exacerbated the fall that occurred when the shorters all piled in around the end of November 23, probably due to some sort of leak - who knows ?, but the RNS delay needs explaining

Well done Talies

Of course you're dead right Poker - "it is not their business or concern as to how anyone buys and sells shares ,moving prices up and down", however the issue here is what prompted the BOD to issue the RNS of the 12th. What regulatory pressure were they conforming to?

It was an issue for a lot of PI's over the last week, it is still an issue and they are 'swerving' any sort of sensible response.

Perhaps it will all come out in the wash, who knows? We can but wait with fingers arms and everything else that's crossable, crossed

Nothing wrong with same reply being pasted out, but is it asking too much to show even a modicum of respect to shareholders of the company by actually answering perfectly reasonable questions?

Is it asking too much to have some sort of repect for the many PI's who have, in some cases "lost their shirts" in placing their faith that a board of directors of a publicly listed company could act with just a tad more understanding of their responsiblities?

I know where you're coming from Poker, but unfortunately it just demonstrates the level of professionalism that Investor Relations operate at within PFC, and how our expectations of them have become.

Nice Talies, well said, more probing and far more eloquently put than myself. Need to keep the pressure on IR

FWIW I've replied to IR:

"Not to be too negative, considering you have responded, but you were already due to update the market in a week or two’s time, I was therefore more interested in what was the prompt for the RNS of the 12th just as the share price was gaining some momentum from the dire performance the BOD of PFC have produced (I was going to say “managed to” ) for its many PI’s over the years, however what has been ‘produced’ is about as far from ‘management’ as the distance from here to the far ends of the universe!

Could I ask that you also pass on to the Board of Directors our honest regards for disregarding us!

Not really sure I agree with you there Yorks. They have already pencilled in an update to trading so surely that would have been the time to lay out what negotiations have been taking place, and I question whether the "chance" of a D4E going ahead is enough reason to warrant an RNS.

Why specifically PFC chose the 12th April to issue an RNS is IMHO an issue and I find it hard to accept that this was done out of some sort of act of benevolence to shareholders as you infer.

Let's face it they didn't see fit to issue any sort of RNS when they were awarded a contract extension by BP a couple of days ago, so what really gives?

I'm with you on your hopes, but......

Make a lot of sense there Poker, as usual

Wow, actually received a reply from IR at PFC to my question yesterday - that was pretty quick. They also copied in FCA contact I have been intouch with, see below:

"The Company and its Board consider that it is appropriate to keep the market informed of the status of ongoing negotiations as part of the Company’s review of strategic and financial options.

The announcement of 12 April 2024 provides such an update, following the earlier announcements made by the Company (most recently on 05 March 2024), noting that a significant proportion of the Group’s debt could be exchanged for equity.

The Company will make further announcements as it considers appropriate.

Best regards,

Petrofac Investor Relations Team

Note the word "could" - interesting or what?

Really feel for you PFCvet - thanks for all your input over the years, been very worthwhile reading, no need to apologise for anything!

Now, someone posting about Asfari has pricked my ears, and when my ears are pricked I follow up.

I am composing a letter to Daily Mail Money, and as we all know newspapers love a story.

I am going to base my letter about all the 'misgivings' I have had since last October, starting with some remarkably opportune timing by several shorting companies at the same time as Schroders offloading their holding, which at the time was not made public knowledge, even though PFC were notified AT THAT TIME, and were aware of Schroders move..

According to Investor Relations at PFC a 'technical issue' was the cause of the lengthy delay in the release of the relevant RNS notifying us publicly of Schroders sell-off.

I for one don't buy IR's excuse of a 'technical issue'.

This share price has, and I'm sure most would agree with the bizarre RNS issued on 12th April 2024, all the hallmarks of some sort of jiggery pokery/manipulation.

I am totally with Rd21 about the 'honourable' conduct of Ayman Asfari, (what's the saying "There's honour amongst thieves"), and it is not beyond the scope of believabilty that perhaps our Mr Asfari has been, or is, somehow involved in suppressing the share price of PFC in order to add PFC to his new enterprise Venterra, at a knock-down price!

OK Asfari is no longer a director of PFC but he is still the largest shareholder and must still have significant contacts within the company, and 'pull'

This goes back to the question respectable posters have been asking as to what point there was to the RNS of the 12th.

Investigative journalists could have a field day with this - IF, and I repeat, IF interested enough, and to that end, if anyone wishes to 'help', a quick and easy contact with Daily Mail Money would not do any harm.

Sorry to hear that Steve, but don't beat yourself up over it - each to their own