Member Info for TheJanbo

Does this mean anything for us poor shareholders

And not a single penny will be recouped by the investors let down by a negligent BOD.

Would us shareholders get to put a claim in under any Class Action brought against Petrofac?

Anything happening with Petrofac?

Looking dismal for Petrofac.

So basically if you hold 20,000 shares, after consolidation you’ll have 80 (20,000 / 250 = 80).

Presumably those 80 are then multiplied against the current SP and you then have your new £value? If so, that is a total decimation of everyone’s holding. Am I right or way off the mark? TIA.

I cannot understand why people are buying. This will sink to sub 2p in the next few months. Buying then would surely be a better option?

Part of the Performance Share Plan 2014.

Basically the current BoD have royally f@@ked over the RIs.

Seems odd on the basis that the restructure will significantly dilute their holding. No clear view on what it means with the BoD and the post-restructuring vision seems like a gamble.

"There will be no debt and hope management will be running the business smoothly."

There is little evidence to suggest that this BoD should be anywhere near the company following the restructure.

They do not get my 'Vote of Confidence'.

Doesn't state or I've missed it. I reckon 5p.

"...and it intends to undertake a retail offering of approximately US$8m in 2025. Conversion of approximately US$772m of existing debt into equity, which will significantly deleverage and strengthen the Group’s balance sheet."

Basically wipe out debt but wipe out retail investors completely.

I suspect Friday 20th December. I think that's when this latest agreement to extend runs out.

If you research the company you'll know why.

Thanks for the info!!

Helikon increase by 0.10% on the 20th.

Confident bunch.

There is zero point trading this until a decision is made on the next moves. If the BoD publicly advised the shareholders why they are delaying then it would make a difference but they are churning out the same message which is leaving uncertainty.

Let's be honest, it's not like the BoD have shown much appreciation of the shareholders.

They'll kick the can down the street if they know they have payments due.

No idea. Crazy.