||EPS - Basic
||Market Cap (m)
Real-Time news about Shanks Group (London Stock Exchange): 0 recent articles
|taximania: Am i right in thinking that all things beingequal we should have just dropped the 14.5p ? Did anything elese happen today to effect the share price (ie the rights etc) i tried to buy at 4.29pm but didnt get a fill.|
|a0148009: First you have to adjust for the placement of 45 million shares at 100p and then adjust for the rights issue.
" Transaction Highlights
-- Based on the closing Shanks share price of 100.5p on 28 September 2016, the proposed consideration payable by Shanks for VGG would be settled through the:
o payment of approximately EUR286 million in cash, financed through new debt facilities and an equity issue of approximately GBP141 million; and
o the issue of up to approximately 190 million new Consideration Shares, representing up to approximately 23.8% of its enlarged issued share capital following completion of the Merger and the equity issue.
-- Inclusive of an increase in expected underlying net cash in the VGG business at Completion, the Merger is anticipated to result in VGG shareholders receiving a total value of approximately EUR562 million, and implies a debt-free, cash-free value of approximately EUR482 million.
-- The Shanks Board believes that the Combined Group can be expected to achieve annual risk weighted pre-tax cost synergies of approximately EUR40 million in the third full year following Completion. Approximately 30 per cent. of these synergies would be delivered within twelve months following Completion, 75 per cent. would be delivered within 24 months following Completion and 100 per cent. would be delivered within 36 months following Completion.
-- The Shanks Board expects the Merger to be significantly earnings enhancing for the Shanks Group in the second full financial year after Completion (i.e. the financial year ending March 2019) and the return on investment to exceed the Shanks Group's weighted average cost of capital over the same period() .
-- The Equity Issue, which has been fully underwritten by Investec, comprises:
o a Firm Placing of 45,000,000 Firm Placing Shares at 100 pence per share (representing approximately 11.3 per cent. of Shanks' existing issued share capital) to raise gross proceeds of GBP45 million; and
o a 3 for 8 Rights Issue at 58 pence per share to raise gross proceeds of approximately GBP96 million (representing a 34.5% discount to the theoretical ex-rights price of 88.5p calculated by reference to the Placing Price of 100.0 pence per Ordinary Share, and a 42.3 per cent. discount to the Closing Price of 100.5 pence on 28 September 2016 (being the last day on which the London Stock Exchange and banks in London are normally open for business before the announcement of the terms of the Equity Issue)).
-- Shanks has entered into the New Facilities Agreement pursuant to which EUR600 million of multicurrency facilities, comprising a EUR150 million term facility and a EUR450 million revolving credit facility, will be made available to the Combined Group."
|wad collector: Presume today's drop is the rights issue.
(I just noticed the chairman bought 100k 2 weeks ago.)
The rights issue price is
38p right now , which on a 3/8 split is worth 14.25p per share . So SKS share price should have only dropped this much. Currently down 14p.|
|a0148009: Agree - the markets are finding it tough to push higher and any companies announcing profit warnings are taking more than the usual hammering.
Share price may be nudged higher when approval and clearance quoted below have been completed.
"The Merger remains subject to Shanks shareholder approval and anti-trust clearance. Further updates will be provided in due course."
If you have not seen the DT article on the Euro in Tuesday's front page
you may find this interesting.
|a0148009: Cost savings, growth and currency translation should underpin current share price with potential to break out above 110p resistance level.
|ed 123: Good comment, Erogenous Jones. :-)
40 years! You must have started as a boy!
I have held Shanks for a while and, yes, it has disappointed me. I think the management have done ok; the problem's the weakness of their markets. Maybe I'm a mug for a good story but I took comfort from the final paragraph of the recent update,
Looking forward, assuming current market conditions, the Board expects that the successful increase in capacity commissioned in the current year, together with further margin improvement and cost management initiatives, will position the Group to deliver strong growth.
From where we are now, investment decision? Atm, I'm for holding and hoping the Eurozone stimulus works, and the oil and gas sector improves. Yes, there is opportunity cost but there's a lot of danger out there. In Shanks' favour it has some long term guaranteed contracts, it has been investing for future returns and (due to environmental protection legislation) serves a growth sector. Finally, there is the comfort of a safe-ish 4.8% dividend yield with the share price at 72p.
Maybe I need another two years of disappointment to break my spirit! ;-O|
|ed 123: Do you really think Shanks' institutional shareholders are short-term punter types? I'd expect them to hold on for an eventual sustained industrial recovery in Benelux. If/when that happens, Shanks should thrive.
If any of Shanks institutional shareholders are facing redemption pressure, then they may have to sell but otherwise, why would they sell now at 70p-ish when they could have had 100p-ish a short while ago? It would not be clever management of their clients' funds to wait for a fall in the share price and then sell.
Anyway, time will tell.|
|ed 123: Fair comment, lefrene.
If there's any comfort for holders from the falling share price, it's that the lower it goes the more attractive it becomes to a potential acquirer.
The sector has seen consolidation.
|ed 123: Share price up another 3% today on a strong volume (2.5 million shares, or 4 x average volume).
I don't know what's behind it but I'm not complaining. Same again tomorrow, please!|
|jeffcranbounre: Shanks is mentioned in today's (07/01/2015) ADVFN podcast.
To listen to the podcast click here> http://bit.ly/ADVFN0102
In today's podcast:
- Brenda Kelly, Chief Market Strategist at IG.com chats about Tesco, Sainbury's, BP, Tullow Oil and more. Brenda on Twitter is @BrendaKelly_IG
- And the micro and macro news including:
Tullow Oil #TLW
Galliford Try #GFRD
Keller Group #KLR
Majestic Wine #MJW
Royal Dutch Shell #RDSB
Escher Group #ESCH
Anglo American #AAL
Shanks Group #SKS
Punch Taverns #PUB
Enterprise Inns #ETI
Imagination Technologies #IMG
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Shanks share price data is direct from the London Stock Exchange