Member Info for STOCKBUSTER

The way I understand it any dilution will come through an offering of an share consolidation, eg. 10 shares for every 5 owned. Say the price of the 10 new shares is set at 15p. To buy at 15p the 10 new shares they would have to hold 3 actual old shares. So if short, the shorts do not own any old shares meaning they will have to buy 5 old shares on the open market in order to take part in share consolidation to buy 10 new shares at the cheaper price of 15p. So the more they short in the case of a share consolidation the harder it will be for the shorts to buy actual old shares on the open market. Can someone confirm my thinking is correct who understands these type of situations better than myself?

Mav, the MM's done a great job for their mates, raped the weak holders of their shares to protect shorter profits....stinks.

Talisman, I hope you are successful with your action on Monday, I know too how much there is a corrupt lot out there due to losing tons in Yell (Hibu).

Just shows, how quickly sentiment changes in this stock, everyone ecstatic was on release of the RNS on the 20th Dec which took the share price to an high of 42p, now doubt has crept in again with the price being slowly being driven down, causing the ones who were lucky enough or clever enough to buy in under 19/18p to sell out these last few days. Wish I had clocked out at 41p when I had the chance prior Christmas and then bought back at today's lower price having watched from the side lines . Now with sentiment being low with the shorts at 10% it is anyone's guess how low this could go again before shorts decide to exist as they well know by now this is not going bust and hence playing the long game, whilst no more news is released by PFC as to how they getting on with putting their finances in place. But I do believe IMO, this will eventual come good over the next year when the company final shows their hand and shuts off these doubts.

Though I do love seeing all the positivity on here after the Dec 20th RNS, we longs seem to being carried away here, let's see what 2024 brings us as 2023 has been personally for me terrible. Love, peace and good health and fortune to all true believers in. PFC.

"Exactly that Rock8. Shorts are Heavily Trapped Here. There aren't enough shares for them to buy back on free-float without a serious price incline. They overcooked it."

Orange moon, that is why I have set my sell at 350, before they can get a hold mine....

Happy Christmas day everyone.

A very well thought out and reasoned post. Thank you Orangemoon. I am even more exited about PfC's future prospects noin 2024 and eventual share price rise towards 100 than I was prior to reading your post.

Like you Petro, I have averaged down and averaged down along way down. Now waiting for my big Goose to lay the Golden Egg of 500, then I am going to forget this whole sorry mess I got myself into of share trading, from my first ever buy when I bought Rolls Royce the day it got floated way back in 1987 if my memory serves me right. As 500 mark will more or less cancel my losses over those years of worrying about if my portfolio goes up or down, my experience it has been mainly down. GLA LT's

Sorry if hosted already;

Petrofac Limited (LSE:PFC) shot up 50% as shorters cashed in their positions after the oil and gas installation specialist announced another big order.

Before today, Petrofac was one of the most shorted companies on the London market due to its huge debts, a string of profit warnings and run of bribery scandals.

Today’s announcement of another US$1.4 billion contract with TenneT suggests, however, that the mood might be changing.

Orders currently total US$6.8 billion and will have risen to US$8 billion by the end of the year, said the statement.

How does that square with a market value of just £174 million at 33.6p, that’s even with the 50% rise.

To put things into context, at its peak five years ago Petrofac was worth almost £3 billion and as always there was some bad news.

Net debt is expected to be modestly higher than at the interim results, with any free cash flow generated offset by an increase in collateral required for guarantees on the huge new contracts.

Shares added 56% to 34.9p.

What gets me is that Shorters are still able to get out so cheaply, with this great news today, they got go some as you would not get an order like the one today if they in money troubles....onwards and upwards.

"The last on October 18th 2019 was at 10.21p per share."

Petrosaga, once this hits 500 taking my money and run, as too old to wait around for divi's.....

Set mine at 300..........................

Can you smell them shorter's burning?????????????????????????????????

Looks all good to me!!!!

Maybe that is why the chief of PFC was not in a panic even when the share price has fallen like it has?

Very interesting Trax, good find.

Looks like the big fix is going to take some time, but in the interim the shorter's will be good and properly F**ked if am RNS comes out saying they have managed to get bridging loan...well here's hoping.

Taken from the article you just posted PaddiG;

“A key aim of this review is to protect the interests of Petrofac’s shareholders, creditors and employees while the Group continues its focus on safe and effective delivery for its clients,” Kawash continued."

I have done the opposite, any stock I bought in the 20's to average down, I have set it at a good profit, so if the shorter's are desperate to close they will pay have to pay the price I have set to get hold of my stock...GLA

Is their risk based on insider knowledge, since it has been intimated that Thier office is in close to PFC's office. If so they should be jailed.