Member Info for Warthog4

Carter.

Re your comment of 18/10

I have visions of our BoD in the 220 Relay Hurdles but carrying spanners instead of batons and just hoping they won't drop them!

So what happens to the contracts in the pipeline awarded to the Petrofac entity-I don't recall the exact backlog figure. Surely the benefits flowing from those contracts can't just be handed over to a third party willy nilly. Also what about the thousands of Petrofac employees? Do they suddenly get the heave ho?

All a bit shambolic and a severe indictment of the capabilities of the BoD

All because of a bunch of sodding nosey Aussie journalists then a bunch of incompetent civil servants led by an American whose unprofessional behaviour led to two raps over the knuckle.

A disgusting shambles but what happens now?

"of themselves" I should have added.

"But then again, I don't think anyone has worse timing than me..."

I would hazard a guess that most punters have exactly the same opinion!

Zero sells: 615k buys. This time last week t'other way round. That's Sareum for you!

Must be " where do we go from here Yogi"

Is it too much to hope for that the BoD, just for once, will take heed of the ever growing discontent with their cavalier attitude towards us shareholders, as evidenced by their constant adoption of the mushroom principle, and come up with some cogent explanations/ forward planning. If it means postponing the AGM to allow them time so be it, because the last thing we want this year of all years is yet another droning litany of management speak designed to lull us all into an overly optimistic view of the future. Parker is a dab hand at it and needs some sharp digs at the AGM to let he and the other puppets on the BoD realise that shareholders are now hacked off to the back teeth with this never ending merry go round of management by crisis.

".......when the company looks like its on its last legs...."

Mmmm. it ain't exactly looking rosy now

"Either way you need to take a pi55 or get off the pot."

Now that's what I call erudite comment-such skilful use of the King's English.

Nowt to do with MM's "making a few quid". They see the writing on the wall far clearer than we do and note the continual kicking of the can down the road.

Market confidence in our bunch of jokers at an all time low.

Littleandy

Bit of guesswork here but Samsung and Saipem are not shareholders per se, at least I don't think they are. I THINK what the RNS is saying is once they have had their pound of flesh there will be sweet FA left in the pot to support any form of logical share price.

I may be totally off the mark of course-only end November will we know.

If one was to measure remuneration against performance one might like to consider the following

Parker came on board 17th May 2016-at that time the share price was about 43p

Since that time and up to 2024,the BoD has received £4.334m in remuneration (of which £227k was contributions to their pension pots) Parker's share being £555k

Today, some 9 years and 5 months after Parker's appointment, the share price is 22p

Just saying.

"..... and explicitly include scenarios in which existing shareholders may receive zero residual value.""

Meaning?? "May" or "will". If the shares then worthless will it be permanent or temporary? Will the company be able to trade its way out or be permanently crippled?

Typical corporate obfuscating babble.

Yep!! Once again again the little guys are sacrificed to satisfy sheer gross corporate greed. (This is a comment than can be applied to the UK as a whole as evidenced by the obscene rises in the cost of living courtesy of the excuse that Covid was to blame by the big corporations)

Still owned 85m shares as at 4.4.24 with no sells shown since. He could of course have gifted them to third parties to sell but would that have to be declared?

"We view this as a potential long-term upside opportunity for the company, extending the relevance of TYK2 beyond its traditional autoimmune focus."

More corporate babble which translated come out as " still jam tomorrow folks!"

As for "Promotion of our content is handled by our distribution and investor engagement teams, leveraging our extensive email database, professional platforms, news agencies, social media channels, and website to ensure broad dissemination." And??

Who writes this garbage?

"...timescales for this are probably in 2026 now. "

Yep- following the now well worn path of always jam tomorrow to which the Market has been accustomed for years hence comment about uncertainty.

Admire your guts in pouring yet more money into this share.

"i must say i think they looked nervous in the interview rather than bullish. As everyone says the AGM could be interesting this year."

Apart from Parker, who IMHO is a smooth operator shall we say, they always do and contrive to look bored out of their skulls as well.

As for the AGM there has always been talk of "fireworks": "awkward questions" etc etc and all that happens is the usual annual whitewash.

Agree with Shepster about the wider pharma community, essentially, losing interest, but unlike us not having to fork out over half a million bucks a year for a management team that drags us from one financial disaster to another and dangles mythical carrots to keep us interested.

Let's face reality just for once: we are years away from getting our "superdrug" to market (Yes we are!) and our one and only hope, albeit faint, is a complete take out by a company who can afford to progress without constant shareholder dilution. We've been down the licencing path which has been proven to be a complete waste of time.

Have a go if you wish- couldn't care less but like many LTH's on this Board getting just s teensy weensy p...ed off with this year on year quasi torpor.

Petrofac Limited’s conviction and sentencing brought to a conclusion the investigation into suspected bribery and corruption as far as the corporate entity (and its subsidiaries) is concerned.

The investigation into the conduct of individual suspects continues. On 19 February 2024, Marwan Chedid and George Salibi attended Westminster Magistrates’ Court charged with bribery offences in relation to the award of infrastructure and design contracts for oil facilities.

A trial is listed for October 2026.

Still grinding on over 9 years later although the Company itself now off the hook.

Me too. Unusually late.