Costain Share Discussion Threads

[farrugia] 07/5/2020 08:21

as shareholders can we subscribe to this one or are excluded?

[escapetohome] 07/5/2020 08:20

CON struction

Stay away.

Poor management time and time again.

You pay

[rogerrail] 07/5/2020 08:17

The board here are completey bonkers! To even contemplate a capital raise in such circumstances is ludicrous and I am amazed they are getting away with it.

[ammu12] 07/5/2020 08:10

Don't you think it will dip to 60p at some point ?

[farrugia] 07/5/2020 08:09

so we as shareholders are excluded from participating in the placing?

[gooner1886] 07/5/2020 07:52

Buywell boris dont care what u say neither doWe

[gooner1886] 07/5/2020 07:07

60p some discount!

[skinny] 07/5/2020 07:03

.

Proposed £100 million Capital Raising by way of Firm Placing and Placing and Open Offer of 166,666,667 New Ordinary Shares at 60 pence per share

Further to the Company's announcement on 11 March 2020, Costain is pleased to announce that it proposes to raise gross proceeds of approximately £100 million by way of a Firm Placing and Placing and Open Offer of, in aggregate, 166,666,667 New Ordinary Shares at an issue price of 60 pence per New Ordinary Share.

The Firm Placing and the Placing are being conducted by way of an accelerated bookbuild process (the "Bookbuild"), which will be launched immediately following this announcement (the "Announcement") and is subject to the terms and conditions set out in the Appendix to this Announcement (which forms part of this Announcement) (the "Appendix").

Liberum Capital Limited ("Liberum") and Investec Bank plc ("Investec") are each acting as Joint Global Coordinator, Joint Bookrunner and Joint Corporate Broker and HSBC Bank plc ("HSBC") is acting as Joint Global Coordinator and Joint Bookrunner.

more.....

[imastu pidgitaswell] 06/5/2020 15:19

Very true. Makes a change from the usual snarling over contract disputes/penalties etc. Maybe they're improving at this construction lark.

Still no interest in the share price - I reckoned on period of consolidation, but we're getting a period of rigor mortis.

Multi-year investment though. Honest...

[htrocka2] 06/5/2020 10:38

This should bode well will potential clients.(and profits for those involved,)

[oliversanvil] 27/4/2020 09:49

Autonomous vehicles --Internet of Things technology.

[ammu12] 27/4/2020 08:53

UK looking to ease lockdown.Construction back to work. Now is the time to get in as this can rise quickly.

[gooner1886] 27/4/2020 08:50

More good news , i just think the 100m (if and when)placing is holding it back a little we shall see lads

[ammu12] 27/4/2020 08:49

Have to say this is excellent news.Markets still sleeping.Expected 120p on that news

[imastu pidgitaswell] 27/4/2020 08:41

I've seen him on various threads before; just the usual sad act in need of help. There is something about shares and finance that attracts the socially inept male (assumption) that seeks to impress people they don't know with their claimed but non-existent insight into economic matters. Anyway, nothing worth spending time on.

Another new announcement of contract awards today and a little early movement; plenty of these around and available. As ever, what they need to do is manage and execute consistently and reliably. If they do, a 'normal' earnings profile and multiple will result in anything from 200p upwards (diluted basis). Only time will tell.

[buywell3] 25/4/2020 00:30

buywells thoughts run thus

1. Banks giving mortgage holiday is propping up the market

2. Banks are getting no monies coming through their mortgage doors whilst this holiday lasts and they add risk by extending holidays as property valuations fall and worry sets in ie Risk plus more Risk

3. People are trying to get out of completing , looks like legal monies for the beagles especially re off plan purchases , deposits PLUS losses on the agreed purchase price seem the order of the day.

4. Banks are lifting deposits required , 40% has been mentioned so some mitigation to alleviate earlier Risks then BUT IMO 40% will only protect them from present purchases that are drying up NOT from previous mortgages over the last few years.

5. IF the property market goes into meltdown then Banks will suffer , plus all those who own houses or have positive equitiy in their brick or concrete or wood/platic pile. So around 65% of the population say. Quite serious then for boris and co hence Gove comments buywell would suggest , even he can see what is coming down the road or perhaps more likely the new COE has briefed him.

6. As we all know the property market is all about supply V demand
buywell can see supply going through the roof when Covid-19 is finally defeated if indeed it is , say minimum 9 months for a vaccine to be made and issued to joe public. During this time most people will have used up their savings , the government in their infinite wisdom allowed folks to tap their SIPP or pension plans years ago many used the cash to help family buy a brick pile or to buy a second holiday home themselves. So property ownership has grown and a bubble made worse.

7. Why will supply rocket ?
a) Because people will want or have to sell their property is why due to

b) Debt , no savings , no job .

c) Banks stop the mortgage holiday in another 3 months because they can see that they are going to have to foreclose on TOO MANY properties in TOO SHORT a time and thus crash the market themselves by so doing.

d) Deaths , many people dying from Covid-19 are homeowners, some elderly by themselves . Many will beneficiaries will sell as they need the cash.

c) Divorces , Covid-19 cabin fever , divorce rates will rocket IMO by over 50% and houses get sold to split the proceeds 60% to the lady 40% to the guy

8. This is a good one and one I don't think has been discussed much in the press
yet.

After Covid-19 would you bet that we won't see a Covid-20 in the next 5 years to follow ?

buywell wouldn't

Where have all the Covid-19 deaths occurred for the most part ?

In densely populated environments like cruise ships , blocks of flats , and CITIES

So expect to see a mass migration of the more clued up selling their London or Liverpool , their Birmingham or Leeds , their Manchester , Glasgow, Newcastle etc etc pad to escape to the country.


This is why the COE wants to up the stamp duty tax on foreign buyers to 10% plus

The English taxpayer needs every penny as total government spend to sort out a new NHS, support ailing FTSE 100 companies , pay laid off workers , and all the other government spends like the HS2 etc are going to run to over 1 Trillion pounds in this Government and 2 Trillion pounds over the next 8 years as of now.

The NHS alone needs 500 Billion to sort out to make it fit to fight off another pandemic properly

Otherwise this whole sorry mess could repeat again , a global catastrophe is now IMO a real possibility

The NHS comes first now , number one spend priority
40,000 existing nursing vacancies currently RN grade
Only 4,150 ICU beds and 10,000 old ventilators ( just ordered circa 30,000 more)
Estimated 250,000 extra NHS staff needed by 2030
New Hospitals with separate ICU units to avoid contagion
New Equipment and procedures with new well trained staff.

boris needs to cancel HS2 , forget a new London Airport and start laying out his plans for a NHS total rebuild.

IMO dyor


PS

%age drop in property values = directly proportional to the number and length of lockdowns

10% min for this first one
25% min if we get another
40% min if we get a third

[countdracula55] 22/4/2020 09:59

Every day the buys are double or treble the sells...wtf ?This will be like a coiled spring, slightest whiff of decent t news and 200p will easily be seen.Not sure why this manipulation is happening.Mms always fiddling the private investors.DyorGla.

[rossi67] 21/4/2020 21:28

The manipulation continues..just look at the Buy to Sell ratio! ...only a weak or poor trader would now sell below 95p

[rossi67] 21/4/2020 10:47

Bought at 38p and sold at 95.Just got back in at 79p as it's likely the issue will be nearer £1...in which case there will be approx 30% fewer shareholders and a much higher EPS..all conjecture for now

[imastu pidgitaswell] 21/4/2020 10:28

Although as cyberbub notes, there will be share dilution.

108 million shares in issue. To raise £100m, at say 70p means there will be c142m shares issued. Resulting in total shares in issue of 108+142 = 250 million shares.

So whatever the future earnings are - and there is along way between having a turnover and target margin and actually achieving it - it needs to be divided by 250 not 108 to calculate an earnings per share. Ergo, (for example) the 38p earnings from 2018 will be 15p in 'new' EPS.

Some pundits have noted 6-7% margins, and £1 billion annual turnover = £70m pre tax, say £50m post tax. With 250 million shares, that's 20p a share EPS. Massive caveats etc, but reasonable punt.

All good enough for me to just hold and await developments, having bought sub 40p.