Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
And I agree it wants to climb. The sentiment and chart will change entirely when news drops be that up or down. I don’t know charts well enough Mav and why I’m on the board to be educated. Apologise if the attempt at humour was taken as a dig, it wasn’t and I respect your posts.
Indeed Mav 9th April was an attempt at humour but the RNS post is just stating fact that I know a number of sites have misconstrued as PFC news. Look mate, I welcome the day René and the rest of the board but up millions of shares from their own pockets as would show the same confidence as us LTH’s.
You’re always going to be right if you say it’s gonna rain tomorrow at some point. I’m an LTH Mav and share the same hopes as you and bought again Monday just gone. I also believe it will climb but let’s not fool ourselves that the FY results and any new deals will not be the influencing factor one way or another and not the charts. The charts will react to the news.
I’d stop using Google as a trusted source in a world where analysts and journalists can’t be a r s e d to actually investigate facts. RNS 4th April
Petrofac Limited ( PFC) Petrofac Limited: Director/PDMR shareholding 05-Apr-2024 / 08:41 GMT/BST
5 April 2024
Petrofac Limited (the “Company”)
Notification of Transaction by
Persons Discharging Managerial Responsibilities (PDMRs)
Pursuant to the Company’s obligations under Market Abuse Regulation 19, the Company hereby confirms that ordinary Shares (Shares) of US$0.02 each in the Company were purchased on 4 April 2024 for the following Directors at 26.3782 pence per Share. These purchases are in line with the Company’s remuneration arrangements, as published in the 2022 Annual Report and Accounts:
Name of Director
Position
Number of Shares purchased on 4 April 2024
Total cumulative disclosable interest held (Shares)
René Médori
Chairman
75,820
660,040
Sara Akbar
Non-executive Director
18,955
129,095
Ayman Asfari
Non-executive Director
18,955
85,038,340
Matthias Bichsel
Non-executive Director
18,955
129,095
David Davies
Non-executive Director
18,955
150,443
Francesca di Carlo
Non-executive Director
18,955
121,671
The Company's issued share capital consists of 525,373,758 Shares with voting rights. Each Share carries the right to one vote. The Company does not hold any Shares in treasury.
For further information contact:
Petrofac Limited
+44 (0) 20 7811 4900
James Boothroyd, Head of Investor Relations
James.boothroyd@petrofac.com
Sophie Reid, Group Head of Communications
Sophie.reid@petrofac.com
Teneo (for Petrofac)
+44 (0) 207 353 4200
petrofac@teneo.com
Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
Mac, purchases were part of remuneration package, nothing to see on René’s additional shares nor the rest of the board that also got an allocation.
We know what is required, an RNS, half decent to palatable and it flies, very bad and who knows. We’ll keep fingers and toes crossed for a half decent one.
You reading my mind Ivor…. I don’t like Dodge and been here for far to long 😂
Evan, it is for sure higher than they want to be paying on my end. Clears £1 and I might be interested but it’s been a painful six months so maybe I won’t be so charitable. If there is a financing solution with D4E then they are well and truly fooked. However it’s PFC and we all need to give our heads a wobble and realise anything could happen +/-
Things to know about PFC…
They communicate badly when bad news is at the door but when they have good news they save it all up for a week/fortnight blitz and invariably when about to announce results (which let’s be honest won’t be great).
Has that feel again of here’s the results, we promise we’ll do better and here’s a wedge of new deals to cheer you all up. Not long now folks and hopefully they’re ready to start dropping good news into the news cycle 🤞
No offence implied Mav but the PFC algorithm generally drives the price lower when you post 😂
They’ll be as nervous as we are. Coin toss
Also switched 40K (mine/wife’s allowance) into ISA and sold out of my funds account to gather a tax loss to offset heaven forbid a return to profit. At least try and use the tax frameworks to an advantage. 88% in the Isa pot now
Absolutely correct Ivor. I worked at Shell on the BG acquisition, at least 1,000 people involved across the companies, banks and lawyers. Nobody knew when it was going to be announced outwith those on the deal and nothing leaked. I don’t think the 1,000 people went teetotal for the six months of putting the deal together
😂 like it Janbo.
It’s also illegal for said friends and family to buy on “insider” information though difficult to administer. Bit like football match fixing, punters piling money in attracts interest and sets off the red flags. John, Jane, Joe, Jess, Jimmy and James Smith all buying 10mln shares two days before trading update would set alarm bells ringing. But it’s in the Telegraph so must be true that everyone’s up to it
So now you know the friends and family of all these insiders as well Glow? Wow, some network you have
How do you know that Glowacki?
If they had “insider” information they would be restricted on what and when they could buy - BY LAW!
I’d like to understand how you suddenly know who is buying the stock.
Or invest in an opportunity from the vast accumulated wealth they have Eurofil.
Eurofil, you mention 27th March and nobody mentioning it. They have alongside the 14th March increase by Whitebox. But most are balanced and mentioned GLG reducing on 7th March and Helikon reducing for the 6th time on 1st March bringing their short down from 3.52% to 2.69% since 10th January.
So why would I aim my ire at Petrofac? They aren’t the ones posting unbalanced commentary. Overall it’s reduced since January.
April as per their communication on 5th March.
Confluence, I don’t have access to MEED pages (paywall) but it’s definitely there.
Petrofac selected for Algeria upstream project
02 APRIL 2024 BY WIL CRISP
The contract has been estimated to be worth $1bn
JXP, staff bonuses have been the least of PFC’s worries over the last 3-5 years. Staff committing fraud leading to an investigation and subsequent fine followed by a global pandemic that lockdowns by nature cripple your ability to deliver whilst still retaining a workforce when you exit said pandemic. Nobody could have structured contracts (and associated costs) factoring in a pandemic that in principle shut your business down for two years. The fact they and Wood still exist is a testament to the management though that wasn’t without a major hit to the balance sheet. The saving grace for both is that the sector desperately needs them to survive otherwise that pot of hundreds of billions that drive their future revenues is impacted.
They’ll survive as will Wood because they do what the majors don’t want to do. Whether D4E is required will be answered but I personally don’t think that will be the case. Given I’m LTH and well invested I would hope that but it will be what it will be and PFC will continue to operate for the foreseeable so if I have to wait I’m happy to wait.
My thoughts as well since they were silent post results will be in April comms. They’re just getting on with it and now have more freedom to communicate when they want. Happy to wait till end of April and they can announce it all together with TenneT #3 and an ADNOC big un 😂😉🥳