Member Info for MaryBr190

Y11,
Have to feel for Paddy a bit. The SP could have been bought sub €1 on many occasions and averaged much lower and sold at 200+.

It seems boastful to shout out about going in big at 175 and then averaging to 150 by buying the entitlement which he seems to have part sold yesterday.

We all make timing mistakes and I hope his purchases were not leveraged and he can sit it out until is comes good.

More pain ahead no doubt but £2 will come sometime again. Just timing.

I expect the shorters/ mm to drive this towards 115p before 11th. Perhaps below.

Seems good to me.

In for a few pennies at 240p. Thought I would make a start.

Only me trading this one. Chatting to myself,lol.

Started adding sales back sub 83p.

If you sold on Friday 22nd, your entitlement ceased on the 22nd.

I see this trading down much lower before 11th. I hope I am wrong. Plenty of buying opportunities ahead.

To be fair pokerchips it is in the prospectus timetable. Each prospectus timetable is a standard format.

The fact that people do not understand what each date means if not the fault of the underwriters.

Likely to trade down towards 115 or lower, mms have some fun.

Same old paddy, I remember the board was wrong on TUI recently too. I rembember a guy sold after record date and managed late in the afternoon that he had sold rights and covered himself by buying back.

EX is the key, tights or entitlement.

You will be pleasantly surprised rock8

Food for thought rock 8.

Penny dropped yet?

Entitlement up to close on 26th.
Ex entitlement 27th T1
Open offer opens on 28th T2.

M.

Cheers Pokerchips,

It was the same with INFA which had an open offer. The record date was not the date that mattered. It was the ex entitlement date. No different here.

GLA

No point in arguing about it as it is now a mute point. It will become clear over the next few sessions.

I held before, added today @ 127, sold part of the trade bought today @ 144, so I will be able to confirm exactly what entitlement I get.

I stand by what I have posted as being correct. We will not have long to wait.

GLA.

Yes JG68 too late now but the opportunity to add was the reason behind the reversal today. SP likely will go down tomorrow and over the next sessions.

Record date is for admin only - it determines the number of shares attracting entitlement. This is a finite number and was needed to be calculated for inclusion in the prospectus.

The shares cum (with) entitlement were free to trade following the announcement and may have been bought or sold during the day today with the entitlements attached.

Signing off for now, GLA.

To clarify beyond doubt.

The stock does NOT trade ex entitlement until the open tomorrow, so it is your holding at close of play TODAY that your entitlement is based on 1/4.

The record date is a cut off for the propspectus that confirms the total number of shares that have the entitlement. This is a finite number and was needed to be calculated for inclusion in the prospectus.

The shares cum (with) entitlement were free to trade following the announcement and may have been bought or sold during the day today with the entitlements attached.

The stock exchange will adjust on the 27th October and trade ex entitlement.

Buy tomorrow - you buy without further entitlement.
Sell tomorrow, stock held at close on 26th and you still retain the option to buy the rights.

I have been through many RI & open offers and people on these boards confuse the dates.

The above will play out as far as I am concerned.

Hope this has helped.

has not yet traded ex entrights IMHO and the record date of 6pm yesterday is just validating the number of shares participating. The entitlement under the open offer will be ex and cum at a later date.

you cannot rely on the backwardation of any share price in the settlement period (usually between 1630 and 1650). The reliable closing price is usually available around 1650.

At close 144.1 /144.8

No share is without risk but I agree with your post.

I assume the bookbuilding has been completed and went well and an RNS will follow in due course and show it is oversubscribed.

~~~
Can we buy into the public bond issuance - it should have a nice coupon rate?

Let's trust in Sami and Ayman
Sami Iskander, Group Chief Executive of Petrofac, said: "The completion of the financing will cement a fantastic platform from which I am confident that we will deliver significant shareholder value over the coming years."

Ayman Asfari said: "I am pleased to support today's fund raise which, after more than four difficult years, puts the company squarely back on the path to recovery. I look forward to Sami and his leadership team restoring Petrofac to its greatest potential."

Paddy, should come good for you in time again.

A bit of a liberty passing the fine onto the shareholders by the open offer financing, but should be on a sounder footing now and back to business of securing comtracts and paying out a dividend in 2023. By then we will know whose bets were the right ones.

GLA