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Is it possible that the Board have actually orchestrated this review to try and convince prospective buyers that as due diligence is now completed without any impropriety being concluded by the auditors, company is ready for a takeover?

It’s just that why did the auditors previously not find any reason whatsoever to recommend this review? Why not now?

01-May-24 Sell - Arvind Balan - 151.00 - £633,785

Does anyone have any thoughts on Arvind Balan the CFO selling his entire holding? No other Directors have sold in the last year, only made purchases.

Did he know some impropriety in declarations? His trading is at odds with All the other directors. It will be be reassuring if he was to buy at this historic low low low price.

John wood group today received investment bank analyst rating - does anyone know what is their new rating?

Qube Research & Technologies Limited increased Short Positions to 1.36%.

Let’s hope price increase today will force them to close their positions propelling price back towards at least a £1

Latino

- hope you are right!

Absolutely directors to provide credible explanations

Need directors to buy demonstrating confidence in company credibility. Also does anyone know how cash this company has?

Strong buy at this low point

As of 31 July 2024, the Group remains well capitalised, with approximately £70 million in cash and cash equivalents on the balance sheet and €16 million of the revolving credit facility remains undrawn. Excluding the impact of IFRS 16, the Group's leverage ratio2 as of the end of the financial year was approximately 1.8-2.0x and the Company remains well within the loan covenants.

How much cash does this company have and how much are they spending pcm?

Company’s obviously not short of cash because they have plenty of money to keep buying shares back.

This will be great if company receives takeover bid.

Unbelievable the price still not rising?

Shorts continued to reduce - now down to 1.19%. That means professionals know they are going to burn as share price is likely to rise.

The company reported, it now expects full-year group adjusted operating profit to be between GBP41 million to GBP44 million, down from GBP48.3 million in financial 2023. Seems justified share price drop of 20% but over 50% is not justified . This is a massive overreaction. Expect quick recovery to between £5.50- £6.

Public companies use share buybacks to return profits to their investors. When a company buys back its own stock, it's reducing the number of shares outstanding and increasing the value of the remaining shares, which can be a good thing for shareholders.

Investors overview page states company only had £146 million.

Company has purchased Roberto Coin Inc. at a cost of usd130 million via a new USD115 million term loan facility.

We don’t know how much this loan is going to cost and how much cash company’s cash position is right now.

Does any have answers?

Any thoughts as shorts are now reducing daily?

Everyone was waiting for this to happen, so is this time to buy?

Share price rising despite fewer buys than sells. I suspect shorts are starting to close. No doubt we will find out soon when shorts page is updated.

Https://www.energyvoice.com/oilandgas/549343/petrofac-work-continuing-share-price/

Https://bnnbreaking.com/finance-nav/business/petrofac-announces-major-job-cuts-amid-restructuring-and-debt-reduction-efforts