Member Info for Warthog4

Unnecessary meaningless response J. but thanks for your kind words. Bit liverish this morning perhaps?

Money piling in? Tried several times this morning to "buy" more shares-no chance-couldn't even get an online quote. Sell??
No problem.
Conclusion??

Nathan Rothschild was asked once what his secret was for making money to which he replied "by selling too early" the inference being obvious. He must have known what he was doing however 'cos I seem to recall reading that when Queen Victoria died in 1901 she was said to be worth £5million. Poor Queen Victoria-the total fortune of the Rothschild Clan at that time was some £400 million

Well said Grantham. Are you from there by any chance?

.....and others with a chunk of ice

It was an Uncrossing Trade.

Get real yourself josh. The SFO is a joke already having been seen to get it wrong big time with consummate ease.
Google "SFO blunders" for a laugh a minute (including being sued by HMRC!!!!!)
In any case the thought that they have to "come down with an iron fist" just to save face is absolutely abhorrent and smacks of the worst manifestations of a dictatorship.

As for the "BIG public backlash" don't make me laugh! The GBP (Great British Public") is too busy coping with the ravages of Covid and worship of so-called celebrities. Stop 10 folk on the street and ask them what they know about the SFO and then watch them glaze over or punch you in the face because they misheard the question.

"How will sentence be communicated?"
It used to be by a head on a spike on London Bridge but I think we have moved on a bit since then!!!

"I can’t see how even in a multi billion dollar would not notice 30$ million going missing."
Neversell, if my figs are correct Lufkin is heading for the chokey 'cos he lashed out $53million over a 4 year period, aided and abetted by three fellow execs.
The revenue for those 4 years totalled $19.414 BILLION so I would suggest it would have been very easy for 4 senior executives in cahoots to bypass the most stringent of internal controls and hide the payment of such comparatively trifling sums. To bring it downscale a bit, similar to having received $19,414 and losing $53 of it somewhere.

As for a fine the SFO has no powers to do so-it is a decision for a Court based upon hard evidence but, as you say, Petrofac per se has yet to be indicted for anything let's not jump the gun.

Agree completely Josh. It was no coincidence that just 2 days before the investigation was announced on 11th May 2017, two financial institutions increased their short positions substantially. Was it ever investigated??? What do you think?

"The SFO will have made recommendation to the Judge with regards to what sentence would be agreeable."
Agreeable to whom??
Sorry, disagree completely. The SFO is a type of police force in that it investigates alleged crime and submits a case to the DPP for consideration. In turn the DPP decides if there is a case to answer based upon the evidence provided and if it thinks the case is at all weak may well set it aside.
It is not the SFO's place to recommend anything just as our Police Force has no say in what sentences judges hand out. Sentences are enshrined in law so that judges can act accordingly.
Once a body like the SFO or the Police Force starts to have a say in actual sentencing then it opens the floodgates to every Tom, Dick and Harry in the Civil Service to put their sticky little fingers in the system, heaven forbid.

A lot of talk about Petrofac being fined. For what pray?
The Company has not been formally indicted for anything and the only body that can impose a fine is a court of law.
IF and it is a big IF, it is found that internal controls were lax enough to allow collusion between senior execs. to facilitate payment of alleged fines then that is a matter for the FCA not the SFO.

Complex my backside. Either Petrofac are guilty or they ain't. Only made "complex" by a bunch of incompetent, self-seeking bone idle civil servants stringing it out as long as possible in a vain attempt to justify their increasingly shaky existence following a series of hugely expensive and embarrassing blunders, lately aided and abetted by their American boss consulting with a US private detective contrary to the rules and regulations.
An utter shambles in line with the general trend in central government nowadays.

Why is Sareum not on the radar? Is one answer appalling PR on behalf of the company?? They seem incapable of banging the drum and Tim's stuttering, stumbling presentations are not far short of narcoleptic in their effect.
Either we have worthwhile products which need to be shouted from the rooftops or we haven't in which case we might as well all pack up and play monopoly (come to think of it we are already-it's called AIM)

Sure are but why is Ryebay still reported as 3.53% short? I understood they had closed out completely several days ago.

Another great day for Av.-at this rate we'll be back to where we were on Monday!

Hyett has always had a down on Petrofac in fact once last year I lodged a formal complaint with HL about one of his articles which was so biased and inaccurate it wasn't true. Needless to say all I received was a "noted" response.
All chaps together!!

So they have had to buy back 12,213,800 shares? Where did this appear or in line with other shady dealing on AIM can they hide it somewhere. SP still slumping notwithstanding.

Mafuta.
I asked him the same question a few weeks ago and he told me to mind my own business. So, obviously not, maybe having sold out a long time ago based upon his own gloomy predictions?

https://www.edisongroup.com/publication/starting-to-tick-the-right-boxes/28690