Lamprell Share Discussion Threads

[brando69] 05/6/2014 12:36

Like I said: perfect storm

[trigger blade] 05/6/2014 11:43

This has the look of a recovery stock for 2014.....

[skinny] 05/6/2014 11:35

Post 13272 above - 166 now firmly in the rear view mirror.

[mad foetus] 05/6/2014 11:21

Looks like there is a bit of a rush to buy in before the record date. I suspect there is a strong expectation that further news will be forthcoming before deadline day for paying up. It is looking very, very strong at the moment and if it is perceived as having been turned around then a bid cannot be counted out (and the family behind Lamprell investing in the rights issue can be read as being almost a threat to a bidder - if you want to buy us it has to be now and at a premium because this is a strong company and we are willing to invest for the future).

[todismypal] 05/6/2014 11:05

Sustained effort now sees the share price at 171p. There seems to have been very limited downside risk to LAM for many many months now. With the rights issue having been amazingly well received it appears £2 is well within sights now. The new management team led by Moffat is truly impressive - am I glad I did not yield to the temptation to sell a few months back when we appeared becalmed in the low 140s - you bet!!

[adp] 05/6/2014 10:59

1 year high

[durby] 04/6/2014 22:56

fearnwood - I disagree. If rights get traded at 25% of difference between ex rights price and 88p, the price of share without right will correct itself to the point people are willing to buy / sell the rights at difference between the price of share without rights and 88p. Current share price indicates trading of rights to start at around 60p ....

If however I see a 75% discount in the rights (i.e. no auto correction), it may be a very very good opportunity to buy them!!

But we will see on the 11th!!

[fearnwood] 04/6/2014 21:46

JA48 - if there is a buyer for the rights it is unlikely they would pay more than 50% of the difference between the ex-rights price and the right issue price. 25% would be nearer the mark.

[poleaxe] 04/6/2014 15:15

Many thanks chaps.

[srpactive] 04/6/2014 13:35

It will be delivered by the golden goose.

[durby] 04/6/2014 13:14

poleaxe - check my post from last night. I believe you should see something (by post or on Barclays website) between 11th and 25th. Also I think from 11th onwards you should see the rights being shown in your account as another security (so you can effectively buy / sell your rights). I am guessing the price for the rights to be around 60p!!!!!

[todismypal] 04/6/2014 12:47

poleaxe You need to do absolutely nothing. A "corporate action" notice will appear in good time laying out the cash to be paid in the event you take up the rights issue. Its straightforward - just wait for the info to arrive.

[poleaxe] 04/6/2014 12:32

Sorry to be a pain chaps,i have my shares in a saga account with barclays,i have been into the corporate actions section but there is no mention of lamprell in their action list,do i need to get onto them or just sit tight and see what transpires,many thanks for a nyhelp.

[durby] 04/6/2014 10:04

Think we are looking at Ex Rights share price of about 147p.

[(Current Market Cap) + (Cash Raised Through Rights)] / (No. of shares post rights)

= (£432m + £71.6m ) / (260.36m + 81.36m)
= 147p appx.

[durby] 03/6/2014 22:15

Greenroom - Record date is 6th. In the UK settlement period is trade date plus 3 business days - so maybe it was today? (or maybe tomorrow - I am not sure). Rights start trading separately on 11th.

[ja48] 03/6/2014 22:08

Thanks durby.

[greenroom78] 03/6/2014 21:54

I like his views on SOU but then I hold there so I would.

Can't beat a bit of Malcy though IMO.

[tipjunkie] 03/6/2014 21:49

malcys blog on lam from 35.30 on

target of £3 +

interesting stuff on financing

[greenroom78] 03/6/2014 21:45

With the record date being the 6th does that mean it goes ex-rights tomorrow? I say that because usual practice for dividends is that it goes XD two days before the record date.

I'm not a holder but am interested as I may he tempted to buy back for the rights.

TIA

[durby] 03/6/2014 21:34

Key dates - having not received any information from my broker, I had a second look at the prospectus.

My interpretation is that on 11th June CREST members (i.e. in our case our Broker) will get their allocation. Deadline for acceptance and payment is 25th June (to be done by our Broker on our behalf). Newly issued ordinary shares start trading on 26th June.

So I expect to hear from my broker after 11th but before 25th June!

[durby] 03/6/2014 21:27

JA48 - Will depend on market demand for the nil paid rights, but theoretically yes.

[ja48] 03/6/2014 20:25

Can anyone tell me what we get if we don't buy the rights, is it the difference between 88p and the price on first day rights shares are on the market ?.

[todismypal] 03/6/2014 09:09

Super Yes indeed you may well be correct with your dates. I think the poster " mf" can give the definitive answer to the dates issue.

[supernumerary] 03/6/2014 08:40

Tod - I think the dates (as shown here in the rights prospectus here: are:

Record Date 6 June

Latest time and date for acceptance, 11.00 a.m. on 25 June
payment in full and registration
of renounced Provisional Allotment
Letters

So if I understand it correctly you can buy up to close of business on the 6th, and pay up to the 25th.

[todismypal] 03/6/2014 07:08

Dav As I understand the situation we as shareholders have up until the 11th June to buy shares on the open market to improve our qualifying holding for the 5 for 16 rights issue at 88p. Personally I have added a few more thousands and these will be added in the amount of 5/16 of that purchase. On the assumption that the foregoing is correct I can't envisage a demand for money BEFORE the 11th June. That said however there is likely to be a relatively short "window" for paying the rights issue when offered. Hope this is helpful????