Member Info for PFCvetran

That’s pretty irresponsible advice Mary.

Good to see the rate of decline slowing but debt is still increasing.

I’m not sure it’s enough to stop a huge crash in the share price when the market opens……

The equity raise will be interesting. Last time it was far from generous and the offer price was above the trading price within hours of the first open.

There will be a discount for existing shareholders but I suspect it’ll be a drop in the ocean compared to the impact of the dilution.

It also complicates the averaging down strategy that Mary is advocating. A number of us got massively burned by averaging down when the dip hit this time last year.

I think the results being published on Monday will be the company trying to prop up the price. It’ll be interesting to see which it swings but I still can’t see why anyone would invest more now and not wait?

Surely the price must collapse on Monday though? Why would anyone buy with a guaranteed dilution (likely to be significant) incoming?

Not having a pop, I just don’t understand any optimism if you’re holding?

Tony, with the greatest respect I can muster ….xxxx off.

The RNS is out and the company is doing everything that they said they might in previous RNS releases.

I’m feeling mixed emotions.

I’m so relieved that I sold when I did, despite the massive loss I took. I now see massive opportunities to recover what I lost if I can time my rebuys correctly during the upcoming process.

On the other hand I am gutted for those who have stayed in and who I had been alongside throughout this crappy journey with Petrofac.

Let’s not mess around here. Existing shareholders are going to get absolutely demolished by this restructure. Based on the information in the RNS, the dilution will be huge.

Some of the ramping in recent weeks has been irresponsible from some on this forum and it does make me cross as some of them definitely know better from their previous PFC experience . We all know not to take advice from forums, but equally we all look at them to judge sentiment before making that final buy or sell decision.

Good luck to everyone. The only certainty I can see is that it’s going to be a crazy 3 months……

Looks like the short buy back is over for now and others haven’t been cajoled into joining in.

Let’s see if the SP settles at c20p or whether, as usual it drifts back down to the 15-17p range.

If it does I think it’s a strong indication that nothing has changed and that there’s no new news or leak etc.

I still suspect no gaps are being filled, there’s no master plan. Just punters punting in the vacuum of no news!

No more day trading for me for now!

Yeah it’s easy to get it wrong even in an upswing. Especially when the spread can be wild.

I guess that’s why most day traders seem to die in their 40’s, too much stress !!

I’m still scared of holding due to the unanswered questions around dilution.

However, I can’t resist a bit of day trading in the mean time.

I lumped in today at 19.3p and out again at 21.2p.

I feel dirty, but I made £3k

There’s definitely life yet in this dog of a share. Can’t wait until all the cards are finally on the table.

It seems that the only news coming out of the AGM is the standard Director re-appointments and other procedural votes.

Nothing about the current crisis?

No words of re-assurance to shareholders?

No acknowledgment of the disastrous prior 18months?

Is anyone any clearer or more confident after today?

…..and still only 47% on board with the proposal.

With no additional news, that’s bleaker that I expected.

Smart profit taking ahead of Mondays leap into the unknown.

Got my diminished funds ready to pile back in on Monday if the RNS is definitive.

Let’s roll the dice…..

It’s strange being out for a PFC knife edge moment. So many times I’ve sat here prior to an announcement, hoping beyond hope that my battered holding would rise like a phoenix from the ashes….only for the oh so familiar punch in the guts to follow with the next RNS.

This is probably the most important crossroads in the decade that I’ve been investing in PFC.

Shorts are down to 7.28% after holding steady for nearly a year at c10.5%. Do they know something? Is it a hedge play?

In the other side we have the RNS trail from PFC which are all but guaranteeing that we’ll see a D4E of some sort to restructure the debt issues. The question is, to what extent will existing shareholders be diluted? 75%? 50%?

My view? I don’t see a takeover coming at this stage. I think we’ve passed the risk of administration. I think we’ll see details of the asset disposals next week along with an update on the Thai Oil fiasco. I think we’ll finally have an announcement on the D4E deal or the can will be kicked for one last time to October (when some loans are due).

I’m ready to jump in if dilution takes the SP to c10p but I think it’ll shoot up like a rocket from there provided the company confirms all 8am of the backlog is still progressing.

Good luck everyone.

If what you’re saying regarding bonds was reflected with a 50% dilution of equity….. that would be a fantastic result for shareholders!! I suspect that would be eclipsed by a resurgence in confidence within a few days with a surge in the share price.

I’m staying out at present as I still suspect that the dilution will be much higher.

Anything solid about it being close to 50% and I’m back in …… and all in at that.

Makes sense Yorkshire if you’re in it for the long haul. I’ve had nearly a decade of it though so I’m on a damage limitation mission to recover a chunk of the £120k lost when I bailed, and then never look at PFC again lol

It’s the almost inevitable dilution that’s still keeping me out Yorkshire.

I’m estimating it’ll have to be a minimum of a 50% dilution given the debt (the reality is probably a fair bit higher).

My logic is that when that’s announced and implemented the share price will be significantly lower than it is now, even with a relief spike. So that’s the point I’ll look to get back in.

Although I’ve being dabbling with short term trading with smaller amounts. I dumped my core holding at 22p back in Q1 just after the first RNS mentioning dilution.

In my head, if I can get back in at sub 22p post dilution then I’ve won and the green uplands of PFC significant future share growth lie before me…..

Am I right in thinking that the majority of PFC banking arrangements run out in October this year?

I’m guessing that becomes crunch time if so. I can’t see the can being kicked any further down the road than the new September extension date.

All good things must end, or good things come to he who waits?

I’m out again with a small profit (well I’ve reduced my £120k overall loss to £118k lol).

Nothingburger RNS that potentially speaks volumes with its lack of commentary.

I’d love it if there was a takeover pending, but nothing indicates there is.

Remember the can being kicked down the road is only to allow time for interested parties to agree to a restructuring, which the company has already stated is likely to involve a D4E.

I’m starting to smell a rat on the Thai Oil negotiations as well.

On the positive side if the earlier RNS is to be believed we should see asset disposals coming through in October which will help.

No sign of shorts moving today so far. Still stubbornly hanging in at just under 10%.

My view is better out than in again at the moment.

Good luck to all of those staying firm.

Nearly 3/4 of the year gone already and this is still 50/50. What a s***show!

When I die I imagine that waiting in purgatory will consist of waking up at 7am to see if there’s an RNS, watching the Petrofac share price fluctuate within a 1p range and then checking the message board.

Day in, day out for eternity.

Once a month hopes and excitement will rise, only to be cruelly dashed by a badly worded nothingburger of an RNS while watching a small spike in the share price drift back down.

Day after day, month after month for eternity.

Once a year the heavenly accountant will send you a spreadsheet showing how much you invested in this pile of crap, and how much of a loss you are currently sitting on.

For eternity…..

Happy Wednesday everyone! 😊

Just announced! Good news starts to drip, drip , drip in …..