Member Info for TheJanbo

Shorts attacking the Bond?

Said I wouldn't top up but I have.

GLAGLTH

I'm going for Astaris and Helikon reducing their position today.

Thoughts?

40m at 10:20...wow.

Negotiated order.

Never had you as a gloater Happy. Really sad.

Filtered.

This is the most damaging part:

While the Group has made progress in reaching contractual settlements and unwinding working capital, given delays in securing advance payment guarantees, it no longer expects to receive these advances before the year-end. Consequently, it no longer expects to meet the guidance previously provided for full year cash flow.

Have Astaris played their hand?

Unless they've brought the date forward, the TU is on the 20th Dec 23.

At the rate of decline, and given that the BoD don't feel the need to update the market, I'll assume this is just going to fall day on day through shorts and RI selling up.

Why load up now when you can do so the week before update when the SP is likely to be a fraction of what it is today unless shorts begin to reduce massively? Genuine question and I'm a LTH, not a basher!

Given the IR responses to worried RI, I’d say their reply’s are criminal negligence or something along those lines.

One of the most aggressive short periods in UK trading history of late.

The silence is deafening.

Very odd...I asked the same question: "Has petrofac defaulted on any of it's loan covenants recently"

This was BARD AI response:

As of the latest data available on Petrofac's financial statements (for the six months ended 30 June 2023), the company was in compliance with both of its loan covenants – leverage (net debt to EBITDA) and interest cover (EBITDA to net interest). This means that the company is meeting its obligations to its lenders and is not at risk of defaulting on its loans.

However, it is important to note that financial conditions can change quickly, and Petrofac may be at risk of breaching its loan covenants in the future if its financial performance deteriorates. The company is exposed to a number of risks, including the volatility of the oil and gas market, project delays and cost overruns, and legal and regulatory challenges.

In the event that Petrofac does breach its loan covenants, it would likely have to renegotiate its loan terms with its lenders. This could involve extending the maturity of its loans, reducing the amount of debt it owes, or paying a higher interest rate. In the worst-case scenario, Petrofac could be forced to file for bankruptcy.

Overall, Petrofac's debt position is manageable, but it is important to monitor the company's financial performance closely. If Petrofac's financial performance deteriorates, it could be at risk of breaching its loan covenants and facing serious financial consequences.

Johny can you provide links to the articles you are referring to?

7.33%.

https://uk.advfn.com/toplists/free/most_increased_short

Apologies if posted earlier.

Aka...The Weekender :)

The LSE SP show as 503% increase then quickly change?

No, I haven't been on the sauce :))

Is a mess. I'm watching from the sidelines from here until 20th Dec 23 when the update is.

Zero moderation or Admin.

Further tick up on the Bond +1.34% 46.26

Bid has moved up which is positive.