Member Info for RealitBites

Happy. No. I never buy shares in a company I work for. Luck is all I am claiming. Don't poop where you eat and all that.
My other move to PFC shows quite well that I am no trading genius!

Divide and conquer and all that!
I just hope there's a plan here!
Good bank, bad bank or something!

Feel sorry for the staffers who bought the shares back in the day. Doubt half are watching but will be shafted by this for the benfit of a few.
Thank god I decided my savings shouldn't be spent where I worked and future lay elsewhere! Only invested now thag I had diversified and tried to catch a falling knife.

Is this bit from the Times?
"Subject to satisfactory answers, which are seen as a formality, they will open negotiations to close the deal."

Maybe Happy works there and needed his pum0 and dump lol

The reason I was interested, was to see whether to sit and watch or take a punt depending on tomorrows action actually!

Happy...I'm clutching at FA. I sold this at a very good profit. Traded about 4 times on the 15p swings following the announcement after buying in with a very goo average.
I give two hoots not...whether I lost a last 5%.

My concern here is as an ex employee who stays in the city this company is headquartered. This company is at a fork in the road at a low point in its history and with HUGE value and potential.

240 is a joke if they sell for that. Hatchet job by the incomer. Check his and his mates pockets closely on way out if this goes through!

Will make a mint for that American asset management company!

Not subscribed. What's the it in that sentence?
What indicates it is close?
Not enough though. IMHO
And would be shareholders who decide, not the board.

Worley probably wouldn't be allowed to buy Uk portion of Wood due to it becoming a monopoly. It was blocked before when the UK bit of Worley was AMEC and WG bought it. So would be a partial sale only.

Yeah...missed a k there.
So is it minimum of 200k shares or pounds
It says minimum tradeable unit, so I assume that is shares.

Not that it matters massively.

No problem at all!
Can anyone confirm some things for me...
If I buy the bonds today, do I need £200k or 200,000 × 0.668 so £133.6.

And lets say it is the later, petrofac must give me 9.75% interest on the original value? Correct? So 19.5k per year. Following that, they give me back the original price of £1 per bond and I get 200k in 2026. That's some return in 3 years!!!

If my understanding is correct, they should be rocketing up in price assuming the market thinks the recovery was a sure thing and done deal with this contract. The sell we be near or even over £1.

And yes, it has recovered slightly and lucky for the people who bought down there....assuming they can find a buyer and/or it doesn't default.

If the forecasts look good and we see more contracts come in, I may be convinced to come back of course. I agree about the potential here and that is only boosted by this contract. It's just the ever increasing hole they are having to climb out of and all that old baggage they have to carry
that worries me.

See. You can already giggle, shoulda waited for the afternoon ;)

Parting comment regarding liquidity and cash raise. I was burned by being overly confident of exactly that before the 115 placing.

So probably partly why I was being cautious. Was sitting on a loss for a while before escaping to Wood.

And this bit in the notes does raise my eyebrow a little...

"Liquidity consists of gross cash and undrawn committed facilities. Gross cash includes balances held in certain countries whose exchange controls significantly restrict or delay the remittance of these amounts to foreign jurisdictions. It also includes balances in joint operation bank accounts which are generally available to meet the working capital requirements of those joint operations, but which can only be made available to the Group for its general corporate use with the agreement of the joint operation partners."

So not all of that liquidity is actually liquid? He seems confident in his tone and with the 100mill it may not be imminent if at all needed. Still, suspect Astaris (and others) see something and I am in a play it safe kinda mood. Would rather have the cash free to splurge on Wood again if they say no.

P.s. you can **** them all you like and they are a royal pain but those shorts are not daft and Astaris is a fair jump up.
Looking at their record, they don't short often but seem to have done well on Hurricane a couple years ago.

Just be carefull!

As I say. Good luck. Me selling means nowt to you.
Have a laugh on my behalf when the price proves me wrong.

I've bottled it. Taken a hit this morning and sold.
Not the end of the world but still too many red flags and the risk is just too high.
Honestly, be careful folks. Bond price was what finally convinced me. Shorts increasing not osing, big debt versus earnings and market cap. Limited assets etc.
Kicking myself big time!

They may have won that contract, but Carillion had quite a few contracts when they finally went pop. And that bond price tells me the big boys expect an implosion by the 2026 date on them.

Good luck. I will continue to watch from the sides and hope you all get a laugh at me when it rebounds heavily on a flow of good news and hopefully this is all some elaborate ploy to make the new CEO look good down the line.

Jambo, i'm no expert and haven't gone digging to abswer some of my own questions.
But as I read it, those buying the bonds ser to much risk to buy with a 50%+ upside in three years. Doesn't appear a good sign to me!

https://www.boerse-frankfurt.de/bond/usg7052taf87-petrofac-ltd-9-75-21-26

Well, i don't know where to buy them as you need to buy a min of 200k. Was not sure if that was 200k shares or £.
Either way. 66p and you would get £1 in 2026 + interest payments. I think. Never bought anything but an NS&I savings bond! Lol

What is worrying me is that bond price. If there was no risk here, surely they'd be getting snapped up at 66p?!
Arghh....what have I donr?! Should I run for the hills with a loss or HODL?!

Crack me up when I constantly hear this line about thd yabks waking up. It barely ever happens and when it does, it is usually on other news. Bearing in mind these are global 24 hour operations these days.

And as for director buys lol

The liquidity had been worrying me.
This better be the last of it! More bad news with or before results and that's me locked.
Was hoping this would bounce in time to give me cash to put back across to WG if they dropped on rejecting their offer.
Looks like that might not happen unless I sell at a loss here or some miracle happens between now and then.
Bloody nora!

Why, why did I not wait?! I was telling myself to wait for results but I buckled and went in heavy.
Here we go again with this golden drip of pish! More stress. Do I HODL?!

I don't think Worley could. Not in Uk at least. The UK bit of that is the Old AMEC UK arm is it not? And the only reason not already part of Wood is that they were stopped from merging by UK gov chaps.