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Don't ask on here, r7632, ask your Broker!!! You'll only get conflicting answers on here. MaryBr190 & Pokerchips on one side and a couple of others on the other side. You'll just get yourself confused. If it's important to you and you genuinely want to do it, ASK YOUR BROKER!
Well said, RealitBites. Interesting point on name change. I'm sure PFC has got a suitably expensive external marketing company looking at that. No doubt like nigh on every other Oil, Gas & Petrol company nowadays, they'' come up with a suitably 'Green' name that includes the word 'Energy' but steers clear of 'Petro'! :)
Barcap, you're such an unbelievable bullsh*tter and toerag! Do you honestly think anyone on here is going to believe your incredulous rants like you have a Tea Lady on the inside at Barclays, as you imply??? Go away and bother some other website!
Understand, unhooked, everyone has their own level of Risk and of course relatively new IPOs are riskier than some Shares with Performance History (and the presence of Shorters can be spooky, especially around Halloween time!). The trouble is that that's not only the case with new IPOs: look at what's happened to AVON, CMCX, FSJ, TGP, INTC & HOOD over recent months/weeks/days, as well as AWE. Nothing is certain in Share Trading. Once the dust has settled and these Stocks have reached their bottom, I see all this as Buying Opportunities: I've Bought AVON, CMCx & TGP near their bottoms, and will be adding to CMCX & TGP over the coming days & weeks. Risky-ish, yes, but where else can such Bargains be had unless one is on the inside (illegal) or in the know.
Dear jupiter31, thanks for your reply. I concur with your sentiments in your 1st para and totally understand your concerns at a) and b).
I take a little more risk than you by the sound of it in that If I see real value in a Share and its SP with no apparent foundation for a significant SP drop - other than the presence of Shorters - then I invest. Your strategy is less risky but I suspect you would therefore be investing at a slightly Higher level. Who knows though because, of course, this could Fall further. I hope not and somehow I doubt that it'll go Lower than the prevoius Low of 171.80p on 29/09/2021 unless there's genuine bad news around the corner or hiding in the long grass!
Btw, jupiter31, do you have any idea what the reference to Wise Road is about by the Derampers/Trolls on here?
Dear Amichalskiuk, I agree it's hard to comprehend, but please also note:
1) On 01/10/2021, Victoria Hull, Non-Exec Director purchased 78,431 Shares @ 255p.
2) On 20/10/2021, CI Financial Corp purchased 664,965,934 Shares (representing 3.11% of total Share Capital) @ 255-283p.
3) On 01/10/2021, Rosalind Singleton, Non-Exec Director purchased 7,961 Shares @ 251p.
I think it's hard to comprehend that these Shareholders were/are also in the dark! It has to be Big Bad Shorters!
I’m not calling you a liar, johnychainlocker, I’m just saying that people shouldn’t trust anonymous posters (including me) on here regarding information that is important to them, that’s all.
I was just about to point out before your latest post that the whole confusion lies in one of the paragraph Extracts from your previous post:
“Your account will be credited with 1 basic entitlement share for every 4 ordinary shares you hold as of the record date, 25 October 2021. These entitlement shares will be credited to your account upon receipt and will form your basic entitlement, which will not be subject to scaling back.”
But you beat me to it! Haha!
My whole point right from the start is that this ie the 3x RNSs from PFC posted yesterday including the Prospectus are far far far from clear re Entitlement to the Discounted Shares in the Open Offer. On the one hand, it says Entitlement is based on the Record Date of 25 October 2021 and on the other hand, it states an Ex-Entitlement Date of 27 October 2021.
Can you see why I and others remain confused and that views are polarised on this issue?
MaryBr190, you are missing the point too!!!
That email/message is for you and you alone. You’ve cut’n’pasted it for starters rather than provided a copy or a link to it (impossible on here and I’ll-advised, of course). So you could have fabricated it.
My point is: STOP GIVING OUT ADVICE to people when the issue is important AND especially when there’s contrary/polar views on the subject.
Just tell the inquirer to DO HIS/HER OWN HOMEWORK and call the Experts. Get this subject off this Board!!!
Nice example, Pokerchips. But it’s not PFC AND you’re missing the point.
Let Shareholders do their OWN RESEARCH & HOMEWORK not trust in me or you or MaryBR or Comeonvog. We are anonymous posters who should not be trusted to give out such important advice & information. That’s my point.
Check with your BROKER(S), check with PFC INVESTOR RELATIONS, check with the LONDON STOCK EXCHANGE. Get this subject off this Board.
Look at it this way: let’s say someone on here was arrested by the police for a very very minor misdemeanour relating to Share Trading. They could be innocent or guilty but the police try to persuade the suspect to accept a Caution. The suspect was given time to call a Solicitor. Instead they came on here asking for advice. Would you as a layman suggest they save time & money on calling a Solicitor ie the expert and accept the Caution? No, of course you wouldn’t or at least I hope you wouldn’t.
I love the way it’s sneakily issued at 16:24! I wonder how many of us managed to spot it, read it and Buy some before 16:30!!!
Fortunately one of my Brokers allows After Hours Trades via TradeGate so I might top up on there before the rush tomorrow…
Happy Days!
It matters not a jot anymore IN TERMS OF ACTIONS THAT CAN BE TAKEN as all relevant Dates, whichever is correct, have passed.
But of course it matters to those who Bought or Sold yesterday as to whether they’re entitled to the 1 for 4 Shares @ 115p in the Open Offer.
I personally think and hope MaryBR, Pokerchips et al are wrong and Comeonvog et al are right (for all the right reasons ie why should non pre-existing Shareholders prior to the Record Date benefit from the Discounted Shares in the Open Offer when people like me have been long-term Shareholders of PFC off and on since 2018 and have supported the Stock through thick & thin). That’s certainly how I read the 3x RNSs from Petrofac yesterday including the Prospectus. But the former may be right, I conceded that in my post early this morning.
But the point is: NO ONE on here should be listening to/heeding the advice of posters on here whoever they are and however long they’ve been posting and however trusted and genuine they appear to be. Many many posters on here are ‘Wolves in Sheep’s Clothing’ ie Derampers, Shorters, Trolls, etc. and whilst they may seem helpful, often they’re only in it to drive down the SP and make a fast buck. The only posters I trust are those who want the SP to go UP and UP and UP.
Thus EVERYONE should do their OWN HOMEWORK and FOR ABSOLUTE CERTAINTY: firstly CHECK WITH THEIR BROKER(S) holding their PFC Shares (I have my PFC Shares across 2 different Brokers and will be checking with both, especially as obtaining entitlement to the Discounted Shares might be procedurally different for each) AND then CHECK WITH INVESTOR RELATIONS at Petrofac (the Telephone Number is on the RNSs/Prospectus) AND then CHECK WITH the LONDON STOCK EXCHANGE.
Well, obviously there's no guarantee of 115p today.
And RR's Rights Issue was done at a very different time - last year - and for different reasons. Confidence in RR had fallen to an all-time low, it was desperate and it's future looked in peril. Whereas PFC has just come out of excellent news re SFO concluding its investigations and levying a reasonable fine, plus PFC's future looks rosy. Different times, different circumstances, different outlooks.
Yes, that did occur to me but I don't think the Trades were that much higher than some of the recent Trading Days for PFC.
Well, the very fact that views as to what the Qualifying Date for the Open Offer 4 for 1 Entitlement is are polarised on here confirms that the RNSs and the explanations contained therein relating to same are confusing to say the least.