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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Fki | FKI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 83.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 83.50 | 83.50 |
| Top Posts |
|---|
Posted at 02/5/2008 15:54 by konkel Milacs...a more official ruling!!From the document: Mix and Match Facility FKI Shareholders (other than certain overseas shareholders) may elect, under the terms of the Acquisition, subject to availability, to vary the proportions in which they receive Consideration Shares and cash consideration under the Acquisition in respect of their holdings of FKI Shares. The total number of Consideration Shares to be issued and the maximum aggregate amount of cash to be paid under the Acquisition will not be varied as a result of elections made under the Mix and Match Facility. Accordingly, satisfaction of elections made by FKI Shareholders under the Mix and Match Facility will depend on the extent to which other FKI Shareholders make offsetting elections. To the extent that elections cannot be satisfied in full, they will be scaled down on a pro rata basis. As a result, FKI Shareholders who make an election under the Mix and Match Facility will not necessarily know the exact number of Consideration Shares or the amount of cash to which they will be entitled until settlement of the consideration under the Acquisition. Elections under the Mix and Match Facility will not affect the entitlements of those FKI Shareholders who do not make any such elections. An announcement will be made when the Scheme becomes Effective of the extent to which elections under the Mix and Match Facility have been satisfied. |
Posted at 22/4/2008 06:55 by kallista FKI to recommend Melrose cash-and-shares buyout bid on TuesdayLONDON (Thomson Financial) - FKI Plc. is set to recommend a cash-and-shares bid from Melrose, the engineering turnaround company, giving it an equity value of some 500 million pounds, reported the Financial Times. The report said the deal, which could be sealed on Tuesday, comes after Melrose raised an additional 275 million pounds of funding from shareholders. FKI opened its books to Melrose six weeks ago after it raised its indicative offer to 40 pence in cash combined with a three pence dividend and 0.277 of a Melrose share, a package worth 84p on Monday. Melrose would also take on FKI's debt, which stood at 354 million pounds last September, and assume its pensions liabilities. |
Posted at 11/3/2008 23:03 by mike456 I've been watching FKI for a while now and was getting tempted to buy when the share price was sub 50p, but held off as I thought it had further to fall unless a bid materialised. Unfortunately for me, but I guess not for a lot of poster's here, a potential bidder did surface.... but don't worry, I'm not bitter :o)As this is the case, and it is looking unlikely that I will be investing in FKI I thought I'd take the opportunity to share a past experience of mine with another engineering company a few years back, which immediately came to mind when I was researching FKI. I bought Charter at about £2 (it had been £10 a few years earlier) and saw a bid come in at £4 which I quite happily accepted and sent off my share certificate. The share price stabilised at about £3.90 for a while but unfortunately the bid disintegrated a few months later when accounting irregulaties came to light and by the time I got my certificate back it wasn't worth selling them. I'll point out now that I'm not for one minute suggesting that FKI has an accounting problem. The share price continued to fall towards 50p and being an inexperienced investor at that time, I held on to them. Fortunately there was a happy ending to the story when I sold out last year for about £12, but I'm a lot more wary nowadays when a bid takes so long to materialise. If I was faced with the same situation again (like the current state of play with FKI) I would be selling. I will reiterate again that I have no position in FKI and have no axe to grind either way but thought it worth spending a few minutes sharing my experience if it is helpful to anyone out there. Best of luck |
Posted at 09/2/2008 05:38 by pickph LOMBARD - ANDREW HILL: Melrose versus FKIBy Andrew Hill, Financial Times Published: Feb 05, 2008 Paul Heiden, chief executive of FKI, must have mixed feelings about attracting the attention of Melrose. One of the industrial investment group's criteria for selecting targets is that they should be "good companies, poorly managed". If FKI wants to guarantee an independent future, Mr Heiden will have to convince shareholders he can do a better job of turning the engineering group round than Melrose can. That will be a tough case to make. Since Blackstone, the private equity firm, pulled out of talks to acquire the company last August, the engineering company has suspended its plans to sell underperforming units (including one, hardware, that is squarely exposed to the US housing downturn) and issued a profit warning. Its shares have been dragged inexorably down towards the jaws of the waiting Melrose. FKI might not look like "the big one" that Melrose's followers hoped for, but with an equity value of £400m and debt of about £350m, it is no tiddler. In 2004, when Melrose made its first foray into the public markets to bid for Novar, it managed only to tee the target up for Honeywell of the US. But at the time, the Melrose team was trading on past glories, particularly at Wassall, the mini-conglomerate. Since then, they have proved themselves by more than doubling the value of McKechnie's aerospace businesses, sold last year, and returning £220m to investors. Those same shareholders should be prepared to entrust some of that cash to a Melrose rights issue to finance a formal offer for FKI. FKI's investors should also study the McKechnie deal. When those businesses were bought from Cinven, the private equity group took a stake in Melrose. Cinven sold within eight months, but if it had stayed put, it would have reaped the benefits of the turnround. A carefully structured cash-and-shares offer for FKI would give the engineer's blue-chip investors a similar opportunity - and a chance to weigh the prospect of Melrose's stewardship of their company's assets against Mr Heiden's. |
Posted at 01/2/2008 11:34 by robo175 (adds detail, background and share price)LONDON (Thomson Financial) - FKI PLC said it has received an approach from an undisclosed suitor which may lead to an offer being made for the company. However, the diversified engineering group said the approach is very preliminary and there is no certainty that any offer will be forthcoming. "The approach is at a very preliminary stage at the moment," a spokesman for the company told Thomson Financial News. FKI was the subject of a bid approach -- believed to be made by private equity firm Blackstone Group -- last summer. Last May, FKI said it was approached with an offer of around 130 pence a share, valuing the company at some 764 mln stg. The company is now valued at around 325 mln after its shares collapsed on a profits warning late last year. GE Capital -- one of FKI's biggest energy and technology customers -- was also rumoured to be interested in the company. However, analysts have warned that FKI is not a straightforward takeover target because it has four separate and very different businesses. At 10.45 am shares in FKI were 19-1/4 pence or 38.3 pct higher at 69-1/2 pence. |
Posted at 26/1/2008 23:31 by bird of dawning Perhaps `recovery' is just a relative term, as the numerous analysts coverng FKI, have made an average earnings forecast for 2009: 10.92p up from 2008: 9.88p (these figures have been taken from Yahoo Finance).Just for the record.....here's some more FKI numbers: Price/sales: 0.21, oper profit: 6.8%, net profit: 3.5%, ROCE: 9%, L.T.Gearing: 211%, net debt: £338m, NAV: £308m. FKI is priced at its book value and just above its working capital and has positive cashflow. As FKI has been on the acquisition trail recently, acquiring Hunslet Barclay for £2.1m in Nov 2007, this is reflected in the relatively (that word again) high gearing. Their numerous acquisitions usually seem very relevant to existing global business so a long term value play seems to be the way forward. Regards bod www.moreinfo247.com/ PS: The diesel loco pictured below is running on the Kemsley Light railway in Sittingbourne, Kent. |
Posted at 03/1/2008 08:41 by prokartace Someone likes FKI:0823 GMT [Dow Jones] Investec Securities upgrades FKI (FKI.LN) to buy from hold. Reckons FKI isn't for the faint-hearted given its recent run of disappointing newsflow and growing challenges of the macro economy. "However, our more positive tack reflects the lowly valuation versus its industrial peers and historic norms." Adds that buy case is also premised on investors shifting focus to strengths and value of Lifting Products and Energy Technology rather than dwelling on disappointments of Hardware and Logistex, whilst factoring-in concerns on debt profile, cash generation and dividend yield. Has 84p price target. Shares +0.9% at 59p. (TRF) |
Posted at 28/9/2007 14:18 by lord gnome From over the road at munney amEngineering group FKI said its first-half operating performance improved at the group level. The improvement was driven by a 7% increase in sales on a constant currency basis. The company said strong performances from its lifting products and services and energy technology divisions in the first half more than offset reductions in its hardware and FKI Logistex units, adding that it is well positioned to improve its trading in the current year. FKI also expects improved performance in the energy technology and lifting products and services units to more than offset any potential further weakening in US demand. The company said though order intake at FKI Logistex unit was about 25% ahead of last year, turnover was down about 10% at constant currency basis following the rescheduling of some major projects. FKI expects the volume reduction and a higher proportion of relatively lower-margin integration projects to reduce the Logistex unit's profit performance in the first half to below last year's levels. The company said it will announce its first-half results on November 29th. In reaction, Landsbanki said that FKI's pre-H1 close trading statement should provide the market with considerable reassurance and the share price should move ahead strongly. The broker added that, as indicated at the preliminary results, Energy Technology and Lifting Products are enjoying buoyant markets and that performance at both divisions has more than compensated for continued weakness at the group's Hardware and Logistex division. |
Posted at 15/8/2007 21:38 by christh RNS Number:1683CFKI PLC 15 August 2007 FKI Logistex awarded major contracts for New Doha International Airport in Qatar FKI plc is pleased to announce that its subsidiary, FKI Logistex, a global leader in integrated material handling solutions, has been awarded a contract worth circa US$ 123 million to supply and install a complete Baggage Handling System for the New Doha International Airport in Qatar. Design works will start immediately and the installation is planned to be in operation by September 2009. FKI Logistex has also been awarded a US$ 67 million contract for the operation and maintenance of the system until 2016. The New Doha International Airport will be among the largest in the Middle East region with more than 20 million passengers per year. Enquiries: Paul Heiden Chief Executive, FKI plc 020 7832 0000 Neil Bamford Finance Director, FKI plc 020 7832 0000 Catherine Hicks/James Olley Brunswick Group 020 7404 5959 Notes to Editors FKI is a major international diversified engineering group. It focuses on businesses that have superior and sustainable market positions in sizeable, attractive markets, leading brands and world class technology. FKI's major divisions are: Lifting Products and Services - world leaders in wire and wire rope, fittings and lifting products (servicing construction and the oil and gas industries). Sales in 2007 were £434.2m. Energy Technology - the world's leading independent supplier of turbogenerators and other power infrastructure equipment (manufacturing for the power generation, oil and gas and rail industries). Sales in 2007 were £344.4m. Logistex - a major provider of automated material handling systems (servicing airport baggage handling, freight and parcel, warehouse and retail distribution and manufacturing businesses). Sales in 2007 were £372.6m. Hardware - the leading US supplier of window, storm and screen door hardware (focused on window and door manufacturers, DIY stores and office furniture markets). Sales in 2007 were £179.7m. FKI judges its performance by return on invested capital and actively manages the strategy and performance of the businesses. This information is provided by RNS The company news service from the London Stock Exchange |
Posted at 08/8/2007 09:14 by christh FKI is worth more than 130p that's why the directors turn them down.But what it suprises me but look at the trades going through everyday. Unbelievable. I will stick to buying as much as I can as something might happen. It could have another bidder step in. Date Time Source Headline 07/08/2007 15:26:17 RNS FranklinResourcesInc - Rule 8.3- FKI Plc 07/08/2007 15:01:56 RNS Barclays PLC - Rule 8.3 - FKI 07/08/2007 14:34:09 RNS Fidelity Int Ltd - Rule 8.3- FKI PLC 07/08/2007 11:15:41 RNS Dres Klein Group Ld - Rule 8.3 - FKI Plc 06/08/2007 15:21:25 RNS Barclays PLC - Rule 8.3 - FKI 06/08/2007 14:18:52 RNS AQR Capital Management - Rule 8.3 - FKI Plc 06/08/2007 14:00:57 RNS FranklinResourcesInc - Rule 8.3- FKI PLC 06/08/2007 12:26:30 RNS Halbis Capital Mgt - Rule 8.3- FKI Plc 06/08/2007 12:11:42 RNS State Street Global - Rule 8.3- FKI 06/08/2007 11:49:53 RNS Lloyds TSB Group PLC - Rule 8.3 - FKI 06/08/2007 11:48:53 RNS Fidelity Int Ltd - Rule 8.3- FKI PLC 06/08/2007 11:18:58 RNS FKI - Rule 8.3 - FKI Plc 03/08/2007 15:37:00 RNS FranklinResourcesInc - Rule 8.3- FKI PLC 03/08/2007 14:23:04 RNS AQR Capital Management - Rule 8.3 - FKI Plc 03/08/2007 13:10:06 RNS Old Mutual Asset Man - Rule 8.3- FKI PLC 03/08/2007 13:08:06 RNS Fidelity Int Ltd - Rule 8.3- FKI Plc 03/08/2007 12:48:03 RNS Halbis Capital Mgt - Rule 8.3- FKI Plc 03/08/2007 09:34:24 RNS FKI - Rule 8.3 - FKI Plc 02/08/2007 16:03:42 RNS Barclays PLC - Rule 8.3 - FKI 02/08/2007 16:00:13 RNS Fidelity Int Ltd - Rule 8.3- FKI PLC 02/08/2007 15:10:49 RNS FranklinResourcesInc - Rule 8.3- FKI PLC 02/08/2007 14:14:03 RNS AQR Capital Management - Rule 8.3 - FKI Plc 02/08/2007 11:35:40 RNS ABN AMRO BANK N.V. - EPT Disclosure 02/08/2007 08:56:58 RNS FKI - Rule 8.3 - FKI Plc 01/08/2007 15:23:09 RNS Barclays PLC - Rule 8.3 - FKI 01/08/2007 14:54:43 RNS Standard Life Inv. - Rule 8.3- FKI Plc 01/08/2007 14:36:54 RNS AQR Capital Management - Rule 8.3 - FKI Plc 01/08/2007 14:17:53 RNS State Street Global - Rule 8.3- FKI PLC 01/08/2007 13:16:26 RNS Halbis Capital Mgt - Rule 8.3- FKI plc 01/08/2007 12:39:59 RNS Legal&Gen Inv Mgmnt - Rule 8.3- FKI Plc 01/08/2007 11:04:04 RNS FKI - Rule 8.3 - FKI Plc 01/08/2007 10:30:50 RNS ABN AMRO BANK N.V. - EPT Disclosure 31/07/2007 17:47:22 RNS Brandes Investment - Rule 8.3- (FKI plc) 31/07/2007 16:54:20 RNS Barclays PLC - Rule 8.3 - FKI 31/07/2007 15:01:19 RNS FranklinResourcesInc - Rule 8.3- FKI Plc 31/07/2007 13:14:10 RNS Aviva PLC - Rule 8.3- FKI plc 31/07/2007 11:44:45 RNS ABN AMRO BANK N.V. - EPT Disclosure 31/07/2007 11:43:44 RNS ABN AMRO BANK N.V. - EPT Disclosure 31/07/2007 10:03:32 RNS FKI - Rule 8.3 - FKI Plc 31/07/2007 07:25:34 AFX FKI completes 2.5 mln stg sale of Froude Hofmann and Bridon Wire Special Steels 31/07/2007 07:10:38 RNS FKI PLC - Disposal 30/07/2007 14:49:43 RNS Aviva PLC - Rule 8.3- FKI PLC 30/07/2007 14:41:39 RNS Standard Life Inv. - Rule 8.3- FKI 30/07/2007 14:34:10 RNS AQR Capital Management - Rule 8.3 - FKI Plc 30/07/2007 14:21:19 RNS Barclays PLC - Rule 8.3 - FKI 30/07/2007 13:41:11 RNS State Street Global - Rule 8.3- FKI PLC 30/07/2007 11:42:59 RNS Halbis Capital Mgt - Rule 8.3- FKI Plc |
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