focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
And i am of view this is happening on purpose .
Either to hand over the whole ownership(debtholders etc which could be same ppl)
Or Break and buy profitable parts cheap
Delay in results and making a fuss is to stop a potential bid.
This is second attempt on Wood group which is expensive as well(no attempt on PFC although long back log). I had very much confidence in PFC but hiding schroders and then hiding these results have shaken my confidence. More I think on PFC the more negativity I get. In short these are crooks.
Https://www.meed.com/petrofac-projects-worth-66bn-at-risk-in-mena-region
As already mentioned first step is little default. Get ready for that on 15th of may. I think bod are going through a plan, no matter what paid trolls come up with. They have assets and they could have sold these months ago. But delaying it to this late and saying the deal will happen when restructuring (equity shift/ company break down) has gone through. Delay in results was revealed to company on 29th? A clue that not all things are transparent.
Disposal of schroders was revealed after about a month is another thing which tells about the transparency.
Why would Ayman Asfari keep away from all this. Biggest shareholder and not on board.
He retired from Petrofac but still active. Why would he let such big investment drown and not sell?
On April 22, we warned that Petrofac’s shareholders have to accept that they are on the edge of wipe-out.
Can we say we were right? A week later, Petrofac announced a delay to its audited full year 2023 results, which it now expects to publish by the end of this month.
Things have gone from bad to worse for the energy infrastructure builder, which was once worth £4 billion but is now a £55 million tiddler.
It has been the most-shorted stock in London for some time, with a record 11.5 per cent of its shares out on loan in January.