Member Info for Rock8

Please save your energy.
These trades tell us absolutely nothing.
Unless you know different?
But we know yours answer - again nothing.
Please stop your pointless posts - they are incredibly boring and add nothing.

Don't forget it closed still below the technical offer price to existing holders.
Closing Price 25th 158p @ 75%
Offer price 115p @ 25%
= 147.25p
So it's still a discount

https://www.fool.co.uk/2021/10/26/as-the-petrofac-share-price-slumps-15-is-it-time-to-buy/

It’s very clear it’s the record date - read the documentation.
But I would be happy to get even more as I added loads 124-135p today - but I can read and understand legal documentation.

It’s very clear in all documents - its the record date
“The Open Offer will open on 28 October 2021 with Qualifying Shareholders having an Open Offer entitlement of one Open Offer Shares for every four existing ordinary shares registered in the name of the relevant Qualifying Shareholder on the Record Date (and so in proportion to any other existing ordinary shares then held) on the terms and subject to the conditions set out in the Prospectus (and in the case of Qualifying Non-CREST Shareholders, the Application Form will be despatched to shareholders). The Open Offer is expected to close at 11.00 a.m. on 11 November 2021.
Source:
PETROFAC LIMITED: COMPLETION OF BOOKBUILD FOR FIRM PLACING AND PLACING
Tue 26 Oct 2021 15:49

Sorry Paddy is right
Long day!

Yes

It’s a lot clearer in the original release
PETROFAC LIMITED: PROPOSED FULLY UNDERWRITTEN US$275 MILLION FIRM PLACING AND PLACING AND OPEN OFFER Tue 26 Oct 2021 07:27

The confusion is that .
“The Open Offer will open on 28 October 2021 with Qualifying Shareholders having an Open Offer entitlement of one Open Offer Shares for every four existing ordinary shares registered in the name of the relevant Qualifying Shareholder on the Record Date (and so in proportion to any other existing ordinary shares then held) on the terms and subject to the conditions set out in the Prospectus (and in the case of Qualifying Non-CREST Shareholders, the Application Form will be despatched to shareholders). The Open Offer is expected to close at 11.00 a.m. on 11 November 2021.”
But it refers to the the Record date - that is 6pm on the 25th .
The open day is just the first possible day the shares could be trading -28th

The document to read is titled
PETROFAC LIMITED: PUBLICATION OF THE COMBINED CIRCULAR AND PROSPECTUS

Tue 26 Oct 2021 17:37

Here you go check it yourself
https://www.hl.co.uk/shares/shares-search-results/p/petrofac-ord-usd0.02/share-news

First line on timetable
Detailed timetable
Record Date for entitlements under the Open Offer 6.00 p.m. on 25 October 2021

Interestingly the share price only really ticked up when the US woke up and they realised!

I guarantee that you are wrong but anyone in doubt should phone your broker.
Don’t trust BBs - as a general rule!

Anyone that bought today especially this morning effectively got a cracking deal.
Amazing how long it took for the penny to drop!

Not true yesterday was the entitlement date not today.
No reversal tomorrow.
Closing price today still a small discount to those holding last night.
25% at 115p
75% at 158p
= 147.25p
Likely to rise above this over coming days.

We need to see the details of the full release.
I am encouraged by the rise into the close.

Remember news had leaked early (institutions to Sky) and the price increased later in the day.

Would be nice but that’s too good to be true.
But not expecting a large fall - 5-10% but could be better if wrapped if wrapped up with better news.

It will be fine as long as the market expect the company to thrive.
I actually would not be surprised to see the share price rise tomorrow once the news sinks in.

It is just a description of a company rights issue.
It will be offered to all but the institutions have already said they will support it - ie take up their options.