Share Name Share Symbol Market Type Share ISIN Share Description
Hampson Ind. LSE:HAMP London Ordinary Share GB00B0P8RT68 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 0.225p 0.00p 0.00p - - - 0 06:30:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Aerospace & Defence 197.5 -13.5 -9.9 - 0.62

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Date Time Title Posts
11/4/201309:05Hampson Industries plc2,720
07/2/201207:46Hampson - transformation, recovery, growth424
04/6/200909:25Hampson Ind. with Charts and News12
08/3/200709:51Hampson, transformed and in growth mode740
16/12/200407:14rightsized, refocused, recapitalised & recovering338

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minsky: Bit of a delayed reaction. AEA were a similar company to Hampson - invested in the US, high debts (to our friendly state owned bank, Lloyds), high pension obligations, share price crash. Yesterday they went into administration. Shares suspended then de-listed i.e. worthless. I hope this fate does not befall Hampson. I hope we dont get RNSs like these:
tullynessle: BAE RNS released at 16:35 today regarding a possible combination of BAE and EADS businesses. BAE SYSTEMS PLC Stmnt re Share Price Movement Date : 12/09/2012 @ 16:32 Source : UK Regulatory (RNS & others) Stock : Bae Sys. (BA.) Quote : 363.6 34.9 (10.62%) @ 16:35 RESPONSE TO SHARE PRICE MOVEMENT Further to the recent movement in BAE Systems' share price, BAE Systems plc (BAE Systems) and EADS N.V. (EADS) confirm that they are in discussions regarding a possible combination of their businesses. This potential combination would be implemented through the creation of a dual listed company structure, under which both companies would operate as one group by means of equalisation and other agreements but would be separately listed on their existing exchanges. The discussions between the parties envisage that BAE Systems shareholders would own 40% and EADS shareholders 60% respectively of the enlarged group. It is contemplated that there would be a unified board and management structure with identical boards and executive committees at each of BAE Systems and EADS. RNS continues...
minsky: Good news for Boeing. Isn't it too late for Hampson? Share price 0.2p. Suspended. Loan covenants expire at the end of the month.
tullynessle: The Corporate Governance page at the Investor Relations section of the Hampson website. Investor Relations Corporate Governance As a London Stock Exchange listed organisation, Hampson Industries PLC complies with Section 1 of the Combined Code on Corporate Governance (July 2003) and with the updated section of the 2006 Financial Reporting Council Combined Code (July 2006). In addition, we have robust self governance controls in place to ensure that we comply stringently with our legislative requirements, employ best practice methods of operation and effectively manage risk. The Board, which is responsible for the on-going success of the Company, has nominated specific responsibilities to three Board committees - the Audit Committee, Remuneration Committee and Nominations Committee. The performance of the Board and its Committees is regularly reviewed. We provide our shareholders and investors with a comprehensive range of financial tools and resources in order to give clear visibility of our latest performance, share price, Board of Directors, Director share dealings and strategy. Shareholders attending the AGM are also invited to ask questions. The Board also has a policy of having systems in place to optimise the Group's ability to manage risk. Responsibilities for identifying, evaluating, monitoring and managing risks have been delegated to the Executive Directors. Commercial, financial and health and safety risks are also reviewed on a regular basis by the Board. Furthermore, procedures are in place to ensure the independence of our external Auditor and any non-audit services provided by the Auditor are reviewed by the Audit Committee.
tullynessle: Interesting paragraph at the Extract below. It would be interesting to determine if there had been any conversation between Hampson and the Reporter prior to the article being published. Extract: "Payment for that contract was originally expected within a year of its September 2010 signing, but owing to "issues identified during the testing and customer approval process" will not be fully realised until as late as March 2013." Hampson crisis 'won't leave 787 short of production tooling' By: DAN THISDELL LONDON 16 hours ago Source: London trading of shares in Hampson was suspended earlier this week when the debt-burdened supplier of composite assembly tools to Airbus, Boeing, Bombardier, Gulfstream, Lockheed Martin and other airframers declared the end of attempts to sell the company and that it was unable to file its accounts for its year to end-March. However, though its share price stood at less than a penny - down from an all-time high in excess of 200p ($3.13) in January 2008 - Hampson remains a going concern and insists it is still on track to fulfil a $53 million contract to supply Boeing with lightweight mandrel tools for carbonfibre lay-up for a "major commercial aerospace programme". This is likely to be the -9 variant of the 787. Payment for that contract was originally expected within a year of its September 2010 signing, but owing to "issues identified during the testing and customer approval process" will not be fully realised until as late as March 2013. Hampson complained in 2010-11 that profitability was being hit by "a consistent pattern of changes in customer scheduling requirements which resulted in higher subcontract and overtime costs being incurred". Debt servicing and goodwill impairments have wiped out trading profits. The company lost £31 million before taxes in its year to end-March 2011 and the same again in its half-year to end-September 2011. Trouble began in 2008 with a $253 million acquisition of Michigan-based tooling makers Odyssey and Global Tooling. The move looked like a savvy bid to satisfy the growing demand for composite airframe tools until the global financial crisis and various aircraft programme delays left Hampson out on a financial limb. Lenders have been helpful, but banks have not been willing to refinance the debt, which stands at some £55 million net, exacerbated by short-term borrowing to support the delayed Boeing tooling contract. Hampson put itself up for sale in February but last week said there was no offer being discussed, though there were preliminary talks with a "third party" about the sale of the US operations. Shareholders will be left with nothing, according to Hampson
tullynessle: SW - RE POST 2427 Talks between Emerson and Invensys "no longer ongoing" 21 June 2012 Statement re Share Price Movement Invensys plc (the "Company" or the "Group") notes the recent press speculation in relation to the Company and the subsequent movement in its share price. The Company regularly assesses the value of its portfolio of businesses both as part of its strategic planning process and in response to expressions of interest in relation to certain parts of the Group. In this context, the Company confirms that it has been in highly preliminary discussions with third parties. These discussions, however, are no longer ongoing.
wan: A few thoughts - I don't believe this is anything like a fire sale. The potential sale of the entire issued share capital is 'one' of the options being explored - Review of Strategic Options / Commencement of Formal Sale Process The Group continues to focus on refinancing its bank facilities. The Board of Hampson also believes it to be prudent to review actively all financing and strategic options, including a sale of the Group and is therefore announcing the commencement of a formal sale process. In the context of a potential sale of the Group, the Board has appointed DC Advisory Partners and Sagent Advisors Inc. to conduct a formal sale process for the entire issued or to be issued share capital of Hampson as part of the assessment of strategic options. Recall that Hampson recently sold the Shims Businesses in order to reduce indebtedness and adjust the lending covenants, and there is nothing in the IMS suggesting that these new lending terms are in danger of being breeched. From the disposal announcement, pages 3 & 4 - As part of the terms agreed with its lenders, the Company has agreed that in the event that the Disposal completes, the Company's net debt to EBITDA and EBITA to net interest covenants will be adjusted since they will no longer be appropriate in light of the Group's reduced level of net indebtedness following the Disposal. The current net debt to EBITDA and EBITA to net interest covenants and those which will apply following the Disposal are set out below: – The sale of the shims businesses was obviously necessary, but was also part of a strategic review and subsequently disposal of 'non-core' assets - In the year to 31 March 2011, the Shims Businesses generated total revenues of £27.7 million, operating profit of £5.6 million and profit before tax of £6.2 million. As at 31 March 2011, the Shims Businesses had total net assets of £14.4 million and gross assets of £24.2 million. So can we look at these metrics e.g. 1.85 times revenue as typical i.e. it was aerospace related, or more of a worst case scenario? The difference of course is that Hampson is now considering the sale of 'core assets' into what is regarded as a strong recovery in the civil aerospace cycle and the trend to greater use of composite materials in aircraft. In other words, Hampson have desirable assets/businesses 'potentially' for sale at arguably the right time. Furthermore the orderly process for interested parties hardly suggests a fire sale. I know it's not as simple as this but we have got to start somewhere. Group revenue for the current year is likely to be in the order of £140m and there is and an order book of £120m. If we were to use the above metric of 1.85 X 130m = £240m – debt of 55m = £185m / 280m shares in issue = 66p As for the share price reaction, the market does not always get it right, especially when there is a degree of uncertainty (in this case over what the impact on profits from the tooling issues will be), but looking on the bright side, 'some' not all deliveries from the groups largest tooling order are now expected to move from fiscal year 2012 to 2013, not ideal, but not exactly a complete disaster either. Monitoring with further intent.
troc1958: Markets as we know are ruthless when news intimates serious problems in a company. But is this the real case with Hampson and has the market over reacted? I think so but no longer believe its going to the "recovery" share I expected it to be. Obviously their negotiations on banking covenants are not going well so selling the company outright is a way of keeping the company trading without financial default. If one reads the interim statement closely the Chairman intimates that by announcing the company is "for sale" the takeover code then allows that potential bidders "will not be required to be publicly identified". IMO this will allow more potential acquirers to "clandestinely" evaluate Hampsons operations without the fear of a bidding war which could drive all interested acquirers away. For shareholders this may mean a lower purchase price but more likely to secure a deal which will hopefully be well above current price, than allow HAMP to go into administration. However the markets seem to think otherwise and the near 50% drop in share price today indicates they think Hampson may not secure a buyer, default on it banking covenants and possibly go into administration and be sold on the cheap, regardless of the progress the company has made to turn around its operations. Valuing Hampson at mkt cap of £11 million (although it does have debts of £54m) is low. The cost of entering the "composite" market would be a lot more than the effective £65m price tag on Hampson. Hampson seems to me to have make very good inroads into sorting out the problems with Odyssey which was one of the main reason for the groups fall from grace. Orders are up slightly and turnover improving quickly. They look like they were "turning the corner". Still a very high risk share but IMO worth the gamble at these prices. I will be watching the share price closely to see how it continues to react to the "for sale" news over the next month or so. A small top up maybe on the cards.
citimouse: THE FOLLOWING WAS POSTED BY PAPPILLON ON THE INTERACTIVE BOARD be the reason behind the impressive rise??? Courtesy of wannabehedgie on LSE. Hi guys. Nice to see some interest in what I feel is a hugely underated share. I first bought at 8p ish back in October and averaged all the way down to 3p. Got almost £20k resting on this stock on a blended average of 5p now. I was sitting on a 65% loss at one point in November but I stuck to my guns because I believe in this company. For those purists out there (aka "value investors"), this is a typical unfashionable "Graham" company. As much as I would like to believe a takeover is imminent, I feel it is unlikely. Rather I believe the share price rise yesterday related to the following; India has just announced a record order of fighter jets from Dassault (a French company). The deal has yet to be signed by the Indian government but they have emerged as the preferred bidder. Norman Jordan, CEO of HAMP, used to be CEO and Chairman of Labinal (a French defence/aerospace company) who supplied parts for the Dassault fighter jet. HAMP have worked with Dassault for a number of years now on the Rafale (as far back as 2003 based on the accounts). HAMP have facilities in India........... Could be a huge coincidence.....but when the Dassault deal was announced, HAMP's share price rose considerably. Personally, I think HAMP have won the instruction to assist Dassault with the delivery of the fighter jets but not announced it to the market yet. The FT stated that Dassault "would need the assistance of an Indian based partner" or something to that effect. Regardless, this share is undervalued and has been hammered by general poor sentiment and concerns over the defence and aerospace sector generally. With a re-finance due shortly, which should hopefully reduce interest costs going forward, and an uptick in orders (HAMP's key clients such as Boeing have recently announced three record orders from European, Middle Eastern and Asian carriers and Japan has agreed to buy more F-35 jets....which HAMP assist on) it will not be long before EPS rise. This may take 12 months but assuming an EPS of even 3p and a multiple of 5x, that's 15p. This is a fantastic company and the barriers to entry for the composite sector are huge. It's a buy all day long. Forget the takeover on the facts, not rumour. If this was an "oily" I would take my 50% gain happily but these guys make things. New Chairman with a fantastic track record (4imprint group, great is Spectris)....the prospects are bright for us new shareholders in at incredibly soft levels. Good luck to everyone and great to see "proper" investors on here.
minsky: The HAMP share price has fallen in pretty much a straight line since Oct 2008. On its current trajectory it will hit zero around September.
Hampson Ind. share price data is direct from the London Stock Exchange
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