Member Info for johnychainlocker

My thoughts exactly Poker - in the meantime picked up a few more

So far “Ex’s” winning

Nice one Tony!

Please PLEASE don’t anyone engage with this his latest post. Just TRY and ignore he’s just a wind-up merchant of 1st degree

Will do Poker- well into my bottle of wine for the evening so ‘sleeping easy’ pretty much guaranteed!
Happy with the purchase I made for daughter yesterday, still confident she will get her offer shares, and happy with my own holding and look forward to reaping rewards in my own ISA holdings.
Good news on contract win despite payment terms not being ideal, but better news is it’s ONLY THE START!

Jeez- apologies ALL (including xtw!), and especially Real.

Re my last post” - 3/4 of the way down just read in detail “Your account will be credited with 1 basic entitlement share for every 4 ordinary shares you hold as of the record date, 25 October 2021. “
?????????!!!!!!!!!!!
I am absolutely LOST for words (don’t all go hurrah at once!)
Am waiting till tomorrow, will check daughter’s account, will update and I’m leaving it at that.
Absolutely ridiculous that this is so unclear!

This one is for you xtw!

Corporate action detail

Reference
9677551 - 10
Investment
PETROFAC ORD USD0.02
Holding
3332
Status
No response required
Description
Preliminary Notice-Open Offer
Notes
Further to our previous communication, we have received an update regarding the Petrofac Limited event.

Your account will be credited with the entitlement shares on or around 28 October 2021.

Please copy and paste the below FAQ link into your web browser for more information on corporate actions:
https://www.ajbell.co.uk/sites/ajbell.co.uk/files/AJB_Corporate_action_FAQs.pdf

IMPORTANT NOTE - If you have any questions or queries regarding this event, please send us a secure message and ensure you quote the following in the ?Subject? field: CORPORATE ACTION - Petrofac Limited - 9677551

Updated: 27/10/21

***

Petrofac Limited has announced details of an open offer. Your account will be credited with a number of entitlements which can be exercised at a fixed price, with no dealing charges, to receive additional shares in the company.

Your account will be credited with 1 basic entitlement share for every 4 ordinary shares you hold as of the record date, 25 October 2021. These entitlement shares will be credited to your account upon receipt and will form your basic entitlement, which will not be subject to scaling back.

Each entitlement share can be exercised at a price of GBP1.15 in order for you to receive 1 new ordinary share.

To view the announcement in full, please copy and paste the following link into your web browser:
https://www.londonstockexchange.com/news-article/PFC/petrofac-limited-proposed-fully-underwritten-us-275-million-firm-placing-and-placing-and-open-offer/15187112

Agreed Paddy

….ollocks xtw!- that message is absolutely for everyone on here who have been confused quite understandably, as have I, by this overly long running debate.
It is not a fabrication, it is directly from AJ Bell, and when the account is credited tomorrow I’ll accept your apology!
If I can try and link it I will, (without compromising my daughter’s account)
I do not take kindly to being called a liar!

In writing:

“9677551 - 10
Investment
PETROFAC ORD USD0.02
Holding
3332
Status
No response required
Description
Preliminary Notice-Open Offer
Notes
Further to our previous communication, we have received an update regarding the Petrofac Limited event.

Your account will be credited with the entitlement shares on or around 28 October 2021.”
End of Story!

This answers it for me, have received email from AJ Bell in my daughters account, for whom I bought shares in Petrofac for the first time only, YESTERDAY, acknowledging that she has 3332 shares in her account for open offer.

My point exactly Paddy, even at 128p the shares are a great buy!

I for one can only say it has been on phone, and however much I would like to believe it is record date that counts I’ m coming round to believe it’s otherwise.
We shall soon see!

Well, only conclusion is that even the corporate guys at HL, Goldman don’t know their a r s e from their elbows either ( which may come as no surprise to many!)

Sincere apologies Real, but I promised this am to relay the answer from HL and I have just received call back from Hargreaves Lansdown Corporate Dept and they say Ex- entitlement date is the one that counts, not record date
FWIW!

Agree Real.
It is what it is and the other day when price was rising I would have been happy to snap their hands off at 130p per share. No different now and am very chilled with my holding.
GLA

You’re dead right Paddy, not a big issue in the scheme of things. I’ve bought again today fully confident that the investment is sound.
Just checking with my accounts that I have enough wonga to fund purchases of offer shares- don’t want to make an avoidable mistake again!

To be eaten here Mary.
I’ve just spoken to Hargreaves L Corporate Action team and they are of the belief it IS the Ex date not the record date.
(They will confirm this ASAP)
Well played to you, and not me ‘cos I took someone’s advice and sold 25% yesterday - doh!!
Still think it’s a bit unfair on existing LTH’s though. I’ve held for few years now , in & out, however I bought £5000 for my daughter’s ISA yesterday, first time holder, and she now qualifies for 1 in 4 offer!
Still nobody’s fault but my own - should have known the rules!

The Lender, who is the owner of the shares, shorters merely borrow

Yes who dares, as long as you were on share register close of play 25th Oct!