Costain Share Discussion Threads

[gooner1886] 07/5/2020 17:59

This will drip backDown to 60s in time then its worth aBuy

[dollyparton95] 07/5/2020 17:32

Why would anybody want to buy stock at 70/80p to gain entitlement to buy a % of stock at 60p when half of the total volume is priced at 60p. I will not be buying til the price is 60p or less.

[davwal] 07/5/2020 16:52

Farrugia, as an existing shareholder you have your basic allocation entitlement automatically, and it’s purely your choice whether to take the shares. Brokers will begin the admin next week.

[farrugia] 07/5/2020 13:02

well i've e-mailed my broker but haven't yet heard from them. I trust shareholders are still in time to take the placing right? I think this placing was done too cheaply!

[pointscorer] 07/5/2020 12:59

83p and rising

[barnesian] 07/5/2020 12:58

A nice 33% gain for those who took the placing.

[sphere25] 07/5/2020 12:47

And then...

The stock went from -4.8% to +4.8%

That's a nice start.

Edit: Straight into auction

[barnesian] 07/5/2020 12:13

Yes - the market is taking this well, now it's digested it.

[imastu pidgitaswell] 07/5/2020 12:04

Strictly speaking it’s £93 million - £100 million gross, £7 million in costs. There’s always a winner,or indeed several in these things, and you can be sure the ‘advisers̵7; will be on the winning side and well taken care of.

Minor gripe, just seems a bit excessive at 7%. Bless ‘em, (Rothschild et al, poor souls), they deserve it.

Anyway, market seems happy, book completed in a few hours, onwards.

[barnesian] 07/5/2020 11:54

I calculate that the dilution caused by the extra 166M shares at 60p reduces last night's closing price of 75p to 66p. It opened around that price but has now increased to 71p. It's a successful placing. A 5% decrease in share price for securing the future with £100m cash. That's fine by me.

[sphere25] 07/5/2020 11:51

Nipped in for a few here around that 70p mark. Strong demand for stock with buyers in size popping up at various levels on the book as the stock gets bid up.

Should be interesting to see if it can push on higher from these levels now that the overhang of the financing is out of the way.

[sophia1982] 07/5/2020 11:05

Yes. It is a shame the directors don't take up more shares really...
A CEO with only 200K shares diluting existing shareholders and asking for a substantial amount of money.
As a shareholder I feel not happy at all.

[farrugia] 07/5/2020 10:58

so we are eligible for '4 Open Offer Shares for every 13 Existing Ordinary Shares' yet the directors are able to take more placing shares than us at 60p?

[dalailama] 07/5/2020 10:15

Snape - hope it's shed loads and sheds loads ha ha.

[easwarareddy] 07/5/2020 10:12

Cobr cobra resources get in quick... should see past 4p today. Gold stock with news predicted to see us past 20p. The numbers are massive. Tiny mcap. Might be hard buying in. Hardly any free float. Buy before news imo. News should launch it.

[snape] 07/5/2020 10:10

Hope its shed loads not sheds loads :)

[dalailama] 07/5/2020 09:36

Excellent, getting it away at 60 - bodes well, shed loads of work, no brainer, very pleased.

[imastu pidgitaswell] 07/5/2020 09:33

I have tried with HL but I don’t see any way of doing it at the moment. Not too fussed to be honest I bought all I wanted at 39p and I could have bought more 45 and 55 a few days later but decided not to.

I guess in theory I have could have sold c100 and bought back but I don’t think I would have been able to do so in the quantity I have, so quite happy to do nothing - it’s a long term investment anyway so whether it is 60p or 90p today, tomorrow, next week, next month doesn’t interest me.

As previous poster noted, it’s quite likely that any uncertainty has now gone and it now stands on its own ability to just get on and deliver. Time will tell.

[farrugia] 07/5/2020 09:23

I will try to subscribe to this one - but given that the open placing offer is just GBP20 million - that might mean that not all shareholders who might want to participate in the rights issue can be accommodated?

[davwal] 07/5/2020 08:59

Well that’s removed the sword of Damocles so share price will soon recover after a bit of musical chairs. Good from here in the long term.

[gooner1886] 07/5/2020 08:51

Massive dilution here aswell dont bode well, ive been in here back out again made a bit willStagnate for a while now imo

[htower1980] 07/5/2020 08:50

Between Costain and Aston Martin I'll prob have to end up selling the wife at this rate ffs

[skinny] 07/5/2020 08:48

Its all in the RNS!

[buywell3] 07/5/2020 08:42

if you are an important person they might

[farrugia] 07/5/2020 08:32

well i'm with IG and have a holding of shares - will they notify me?