Member Info for my2penneth

I bought shares in NG yesterday ( 23rd May).

I note that my broker (ii) has now added the NGPN Rights Issue entitlement to my account.

I was not sure if I'd get the Rights Issue option.

"Infor" stated below :

'Action required before midday on 6th Jun 2024. Take up your option to buy more shares in National Grid. You can buy a maximum of 7 new shares for every 24 shares you held at the end of 23 May 2024, at a fixed price of £6.45 each.'

Yet the announcement from NG stated

"Record date for entitlement under the Rights Issue 6.00 p.m. on 20 May 2024"

SO....have HL made a mistake ?

It's not the first time I've seen these glitches and I doubt etc... I'm quite "long" on LGEN at 6.6% of my portfolio value.

The Uncrossing Trade ( UT) was 248.x pence. The 6% drop is a glitch.

Nearly down to the Covid low...it's as if they have decided that China (and the rest ot the World) has closed down ?

Shaun

I'd read the update from BATS...ignore SwS...it's bollo!

"Is there a cut off date for these shorters to close their positions?"

No, they can hold open for as long as they decide to run the risk.....

Re accusations of shorting....I've made over 2200 posts on this site...they're all visible...go read some for yourself. . I'm generally 'long on whatever share I'm commenting on.

As for PFC, I've followed them since 2017 ( way before the posters around today) , just before the SFO case was announced. I lost a few £k (£5k) on PFC which, fortunately, is small beer. I would not touch PFC with a bargepole.

I offer caution and am accused of being a shorter! I've never ever shorted a share! Reading some of the comments from posts it is obvious that quite a few of you " investors" are merely gambling and you really don't have a clue judging by some of the statements!

Gamblers rarely win..gamblers who don't know the basics win only by chance. All I'm saying is " be careful ". Bets are being driven emotion.

I'll shut up now...your money, your choice

!

Your money, your choice. Nothing i say here will affect the sp.

There's very little to tempt me here. I've seen a lot of comments below but they are essentially from gamblers . Petrofac is NOT an investment- Only gamble what you are prepared to lose.

I'll state my concerns..

- Management ( there's the main problem! ). Why did they keep stumm for so long?

- Debt (will Margins on future order book cover debt repayment? What interest rate will lenders demand on debt )

- Expectations of the need for shorters to HAVE to buy back shares ( gamblers had the same view at Carillion...remember that Carillion Management were untrustworthy and lied...Management do this from time to time ( SFO))

- Contracts can be redesignated IF PFC were to go under. The contracts would be renegotiated and that would be to the advantage of other contractors.

- no one will buy PFC to get their order book ( see previous comment) - why take on the debt and other liabilities?

So, investing here is not investing but gambling. Ask yourself, what do you really know about what is going on at PFC.?

Guitarsolo

I did exactly the same...sold some IMB and replaced with BATS top-up.

Telegraph 1st December

Israel ‘obtained Hamas plans for Oct 7 attack more than a year before’

Blueprint codenamed ‘Jericho Wall’ reportedly contained battle plans for attacks in Israel, but it was dismissed as unrealistic.

Israeli officials reportedly saw a blueprint for Hamas’s October 7 massacre more than a year before it was carried out, prompting fresh questions about intelligence failures over the attack that claimed 1,200 lives.

The New York Times reported that Israeli intelligence bosses were passed a 40-page battle plan for the attacks, but dismissed it as unrealistic.

Telegraph 4th December

"Traders with prior knowledge of Hamas attacks made millions shorting Israel, claims report

Suspicious stock market activity suggests more than $100m made betting against Tel Aviv shares prior to Oct 7 massacre"

"Traders with potential links to Hamas put huge bets against the Israeli economy in the run-up to the attack and could have made more than $100 million (£79.3 million), said the 60-page study by Robert Jackson Jr, of New York University School of Law, and Joshua Mitts, of Columbia Law School.

While the report did not name the investors, the report said they were understood to be “informed traders anticipating and profiting from the Hamas attack”."

Plus 7% on the day at the moment.

I had a look at Tradingview.... mmmm! I won't be going back.

Folk seem to be waiting for shorters to start buying back shares? Why? There's no need.

The BOD have left out way too late for a RI. They might have been planning one but it wouldn't have been at these levels. I'm guessing that they have been taken by surprise and now can do nothing about it...hence no announcement. They're caught in the headlights!

If PFC were to issue an announcement saying " there's no problem " and then it turned out they were lying, the directors would be ( at a minimum) fined. Conclusion....all is NOT fine.

"Agreed... I guess the good news is that those borrowed shares have to come to back at some point!"

Do not rely on this! If a company goes under, the shares are worth zero. Don't think that the shorters are going to step in at the last minute and bottle it trying to close their positions! Look at the collapse of Carillion, the short positions were still in place long after the business folded....the value of the shares shorted was "number of shares" x zero value..

PFC was not the highest faller today...