Keller Share Discussion Threads

[redips2] 17/7/2013 12:19

goodness me ! ---- still going ! :p

[scottishfield] 10/7/2013 15:44

what a beauty, on a relatively down day

[redips2] 05/7/2013 12:49

126% up for me----taken some profit----shame, but has to be done, still got plenty left .

[rochdae] 04/7/2013 16:18

Just straight up ... and still ignored..lovely!

[redips2] 28/6/2013 09:30

you may also take a look at siv .

[redips2] 28/6/2013 09:28

looking good scotty .

[scottishfield] 27/6/2013 19:28

what a performer. Edit ; & reassuring rns this morning.(28th)

[redips2] 27/6/2013 16:14

----on to a tenner !!

well done mr k :)

[redips2] 27/6/2013 15:00

on, and on, and------

[rochdae] 24/6/2013 18:33

Robust and still going in one direction slowly but surely....

[redips2] 11/6/2013 08:41

TIDMKLR

RNS Number : 7422G

Keller Group PLC

11 June 2013

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

For immediate release 11 June 2013

Keller Group plc ("Keller" or "the Group")

Proposed Acquisition of North American Piling

Keller (LSE: KLR), the international ground engineering specialist, today announces the proposed acquisition of North American Piling from North American Energy Partners Inc. ("North American Energy Partners"), subject to shareholder approval.

Key Highlights

-- North American Piling is a substantial Canadian foundations business, headquartered in Edmonton, Alberta, and has over 25 years' experience providing piling services, with a focus on piling in construction markets across Canada, including the Alberta oil sands region.

-- North American Piling employs approximately 400 staff and, in the year ended 31 March 2013, the business reported revenue of CDN $236.5 million (GBP149.7 million) and operating profit of CDN $38.5 million (GBP24.4 million).

-- The Acquisition is consistent with Keller's stated strategy and the Directors believe it will enhance the Group's offering by:

- bringing into the Group a market-leading business, positioned in growth markets offering attractive margins;

- increasing its exposure to the North American energy and resources sector;
- providing the opportunity to develop broader customer relationships and secure new customers;
- expanding its presence in the relatively under-developed Canadian geotechnical segment; and

- delivering attractive financial metrics, including an immediate and significant enhancement in earnings per share.

-- The consideration will comprise an initial CDN$227.5 million (GBP144.0 million) on a cash and debt free basis, payable in cash on Completion and up to a further CDN$92.5 million (GBP58.5 million) of deferred contingent consideration payable in cash depending upon North American Piling's financial performance in the three years following Completion, giving a maximum aggregate consideration of CDN$320 million (GBP202.5 million).

-- Keller is proposing to finance the Acquisition through the net proceeds of the Placing announced today, together with the drawdown of some of the available funds under the New Bank Facility and existing bank facilities.

Commenting on the Acquisition, Justin Atkinson, Chief Executive of Keller, said:

"The Board has identified Canada as a key target market and this acquisition of a complementary piling business represents an excellent opportunity to build substantially on Keller's existing presence in that market. North American Piling is a market-leading business with attractive margins positioned in growth markets, including the resource-rich regions of Western Canada. The business has a strong record of growth delivered by an experienced management team who are transferring to Keller. Importantly, the acquisition will be significantly earnings enhancing*."

* This should not be construed as a profit forecast. In particular, it should not be taken to mean that the earnings per share of Keller for the year ending 31 December 2013 will necessarily be higher than for the year ended 31 December 2012.

Analyst conference call

A conference call for analysts and investors will be held this morning at 9:00am with a replay facility made available later today. For details please contact RLM Finsbury on 020 7251 3801.

The Circular, containing details of the Acquisition and the notice of the Keller General Meeting at which a resolution will be proposed for the approval of the Acquisition by Keller Shareholders, will be published and posted to Keller Shareholders as soon as possible. The Circular will be made available by Keller on its website at www.keller.co.uk/investor/aspx.

This summary should be read in conjunction with the full text of this announcement

Jefferies International Limited ("Jefferies") is acting as exclusive financial advisor and joint sponsor to Keller on the acquisition and joint bookrunner and underwriter on the equity placing. Investec Bank plc ("Investec") is acting as joint sponsor to Keller on the acquisition and joint bookrunner and underwriter on the equity placing.

For further information, please contact:

[rochdae] 11/6/2013 07:17

Placing at a negligible discount to price .. and the important bit..

''the acquisition will be significantly earnings enhancing*."

[rochdae] 07/6/2013 16:40

If that's the worst of the retraces, you've got to chill with this one.

[scottishfield] 05/6/2013 11:30

Well, I've bought some more , too good good to miss imo.

[scottishfield] 31/5/2013 20:18

pure luck I'm sure roch, but it's nice when it goes for you; great chart

[rochdae] 31/5/2013 18:49

You seem pretty good at timing this scottishfield. Haven't bought any for a while myself. Just a nice share that keeps going up. Perhaps I should!

[scottishfield] 31/5/2013 11:21

Perhaps my top up wasn't so badly timed after all

[scottishfield] 30/5/2013 20:45

well I had a little topup here today (in the morning unfortunately!)

[bluebelle] 15/5/2013 08:40

Well the market's initial reaction has certainly been positive !!!

[rochdae] 15/5/2013 08:14

Going much higher in this market, too. And still the early stages of recovery in some of KLR's markets. Thought £10 on a trading ahead statement ..

[scottishfield] 15/5/2013 08:13

rarely disappoints.

[redips2] 15/5/2013 08:10

v nice, 100% up!----have a big kiss mr k :)

[bluebelle] 15/5/2013 07:58

'Solid' - exactly the word I was going to use !!! A good set of figures.

[scottishfield] 15/5/2013 07:27

very solid indeed, lets hope for a good mkt reaction.