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PFC.
Yes - there will be a dilution of shares. That doesn't mean the value of the shares dropped by the leve the dilution implies.
As others say, it may be semi, fully or even over priced in.
I posted earlier on this. Once the D4E is done, the debt is reduced and the backlog remains. It just depends on the level of dilution and perceived value of the backlog afterwards. So as per my earlier post, what is the MCap after financial restructure and how much of it will we then own.
Todays price reflects the oncoming dilution and big debt. Not may buyers and lots of risk. I took a small punt, but money I am prepared to lose. Thankfully, I got out from a much higher level with a small loss. Had I held til now, I'd have lost heaps!
As a holder it is trickier. Pure gamble either way IMHO. And I'm no trader or analyst. Partly expect to still lose the 5k I pumped in. But you never know. MCap could end up rising back towards it's peers, which even with a large dilution, could still leave me with a profit in coming yeqrs and from these low levels.
I know, I hear you Tony, I'm an idiot gambler! But plenty in reserve if I feel like averaging down if they get the debt fixed and it doesn't go private at that point.
The company has an mcap of 100million.....
With the debt ....
And with D4E looming.
Question is, what it will be without that debt... without D4E looming.
And therefore, what has been priced in at this low MCAP and share price...
Answers on a postcard!
Could this newly installed CEO (or his masters) have had a short?
Many potential reasons but all speculation.
I thought perhaps to try to reassure the bond holders, as the price had started to slide.
Had also considered the theory of holdong price down for a buyer or to give right maths for a D4E as plausible.
PC had some interesting points to consider and made me wonder if there was a whiff of insider trading around D4E and they thought they better update. Doesn't explain movements since thoigh.
I originally thought MMs were just pump and dumping prior to TU. So perhaps company did just put a pin in that.
Various possibilities, some more credible than others.
That comment reminds me of Esecallum! Lol
Haven't had to resort to a cardboard box like he implied.
Took a small nibble here again also. Probably a bad move but not betting the house. Just some chump change on a risky punt.
Are sparta strapped for cash like?
PaddiG. Are you same person as Paddiboy who used to post here?
Lol Mary.
Why are they your concern exactly? Surely with yiur amazing portfolio, you couldn't care less about the odd negative comment amongst the crazy ramping of your pals on this board?
Do you include me in that cohort?
I am still watching for a safe entry point. Not seen one yet and post with the odd thought albeit, mostly negative lately given the mess this one is in and constant declines.
Holly....
Bonds now 25p!!
Surprised the share price has gone as it has today. Better than I thought to be fair!
500 to 800mill profit?! Seriously? What sector are you operating in as those certainly won't be the margins on this. Crikey. If they are lump sum maybe...but from past PFC performances.. more likely to lose that much!
I know Poker. Just feel bad for those suckered in. I think we've both been expecting this. I remember some of your eqrlier posts highlighting the risks. Like me and a few others, you got ridiculed and now have the last laugh.
Bitter sweet this one as I say. I know many will be screwed badly by this.
Midland dude.
Not every is or wants to be a trader. Many employees were buying these through share scheme and have already lost most of what they put in. Many will not have sold!!
Bid now below all time lows. And doesn't look like a single trade has taken place yet today. Last trade price still same as yesterdays
Has he any cash to put in? Took huge loans for his new venture using his shares in PFC as collateral. So seems to me he snuck off in the background.
Is it?
They're still negotiating. Still trying to sell assets.
Sounds like they still don't have a solution to me.
I can't guess what this will be worth now.
This shouldn't be surprising. It's been the most likely option since the first RNS.
Another stinky one for LSE. Pump and dump proven. MMs should face consequences.
Meanwhile financers get handed majority of a company with huge backlog at expense of you guys. Also stinks.
Sorry for those who have lost their savings and retirement pot here. Mixed emotions for me reading all the comments this morning.
Crikey fat thumbs. Should reread before hitting send.
Conformation bias Omars.
You endlessly ramp and heqr what supports your position. I'm neutral. Want this to do well and watching for signs of hope to reinvest in a company I used to work for. Sadly, the signs are nkt positive despite a short term blip.
I hope you are correct. For my ex-colleagues sake. But so many signs that it has to get worse before any recovery in sight.
Full disclosure. I sold at a loss to escape what I saw as trouble ahead. That doesn't make me, or any others posting warnings a short.
Be wary. If in the black, I'd be getting out. Of still in the red, I'd hedge, sell a portion and hope to buy back on the retrace. Thay'd be my strategy and I am ni stoxk market expert. Just don't trust the MMs or the LSE, london traders etc and smell a rat.
Were they not looking for 600mill? That's 100% of the bonds. Bond holders get their cash before shareholders...the law says. So....
Nit out of the woods just yet. Despite the blip.
I guess the big question is what is the company worth post refinancing and is that above todays price? Also factoring in any dilution.
Approaching all time lows again.
https://www.boerse-frankfurt.de/bond/usg7052taf87-petrofac-ltd-9-75-21-26
Got a few theories. Some good, some not so
Seems a site wide issue actually. No prices for the otgers I checked