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Weird. All of a sudden, there's no prices being shown on bond page...
https://www.boerse-frankfurt.de/bond/usg7052taf87-petrofac-ltd-9-75-21-26
Any theories?
I did wonder if (what seems at least to be) reductions in tension in ME were helping this and other operating out there. This and the likes of WG took a big hit when that kicked off.
Could be good news, but could equally be another pumpedy and dump by MMs and traders squirming to get rid of their holdings pre RNS.
Pure speculation and gambling at this point. Unless you have some insider knowledge. Which seems rife with this one in the past.
Interesting that even the rampers want out of dodge. PMSL!
Been an entertaining watch from the sidelines and the comments here do make me giggle most days.
" it’s good for Wood to have more employees rather than less!"
Depends if they are deployed on reimbursible work or getting rid of some from the corporqte/overhead part. If the later, could save them 10-20mill a year.
If the are reimbursible (which I doubt) they lose that much revenue of which only a couple of percent would be profit.
Hahahha. That is brilliant. Did you read it. For their performance in 2014 and 2021. How's the share price done since then!
This is not a sign that D4E is or is not needed. Stop spreading misinformation and your deluded hopes.
Wow!
Erm, hate to tell you but that's not shares to fix the mess. It is to reward those that made it lol
From memory. A Spanish bank loaned him the money for that venture using some or all of his PFC shares as guarantee for loan.
Not sure what that says and how that bank will feel about the currentprice of the security he provided.
Hardly sounds like he has deep pockets though.
That means the institutions left so that you can take their losses!
Somethings leaked. The bid on the bods jumped down about 10% at one point.
Popcorn at the ready. Wish WG was in better health or I'd have some change at the ready for what I'm sure will be a big wobble one way or tother.
I think previously stated their investigation into company had finished but they were still investigating individuals. So, hopefully nothing to worry about unless something comes out in the wash in court...
Really?
"shows that the City itself isn't immune to organised crime."
London is the fing centre of the universe for it! Literally almost says it in the article! Greedy crooks mostly!
PFCV PC et all. Each day I watch from the sidelines. But in a aad way seeing this.
Both are at high risk IMHO. I believe the statement read there were seeking resolution/dilution or whatever it was....across all classes....bonds...equity...loans?
The worst bit for me....those that made money...from making the mess.....largely exited stage right unscathed....leaving what? All will become clear soon I hope as this is painfull to watch.
Just hope we hit a bottom after whatever it is and there's a boat left to jump on. Got a long way to sail at this point, that's for sure.
Haha. Just googled marshall Wa and found my comical answer!
What do theyvsee that I am missing?
Or were they caught out by a decent update and now trying to manipulate the price to save them?
Strange behaviour with these tiny ups and downs reported a day later.
Starting to drop again...
Equally perplexed and frustrated JG.
Do feel like it is being yoyo'd for someone's advantage.
I went against better judgement and have traded in and out a chunk and at least partially caught that last swing with a couple of k. Sold them again a moment ago hoping this isn'MW closing and about to miss a leg up with a portion of my original investment.
*isn't standard
When did PFC last make 10% ona job? Asking for a friend. And can assure you, 10% is standard across all parts of their business. Pretty low margins in some of the O&M/E&C body shopping work.
Bond holders V mahor shareholders. Both using shorts ti lower their own value (behind closex doors of course) so they can't be stung most by the fix
At expense of who? Scrap the middle man. Ringfence PI and penalise the real players. Seems PIs getting fleeced to fund only god/allah deity of your cboices knows what?!
Lol
I'd actually expect the opposite. When things go pear shaped, they surely wet their plants, making them grow better