Lamprell Share Discussion Threads

[tomboyb] 24/6/2022 07:32

Lamprell plc

24 June 2022

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY OFFER WILL BE MADE, NOR AS TO THE TERMS ON WHICH ANY OFFER MIGHT BE MADE

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

FOR IMMEDIATE RELEASE

24 June 2022

LAMPRELL PLC

("Lamprell" or the "Company" and with its subsidiaries the "Group")

STATEMENT REGARDING POTENTIAL OFFER

This announcement should be read in conjunction with the Group's trading, funding and liquidity update announced separately this morning.

The Board of Lamprell PLC announces that it received a non-binding indicative cash offer from Blofeld Investment Management ("Blofeld"), a 25.06 per cent shareholder in Lamprell, regarding a possible offer to acquire the entire issued and to be issued share capital of Lamprell (the "Possible Offer").

The Board is considering the Possible Offer in light of the Group's liquidity position and the Company's funding requirements of $75 million over the next two months. Blofeld's proposal in respect of the Possible Offer is at a very significant discount to the prevailing share price and any acceptable offer would need to include an interim funding solution or bridge financing. The parties have been in discussions for more than two months but have not reached agreement on the price or conditions of a Possible Offer (or in relation to the interim funding solution or bridge financing ). The parties will continue to work together to try to reach a workable solution by way of an updated offer, which also provides a solution to the immediate liquidity needs of the Group.

There can be no certainty that any offer for the Company will be forthcoming nor as to the terms of any such offer, nor any certainty as to agreement on the interim financing solution with Blofeld , particularly in the time available .

In accordance with Rule 2.6(a) of the Code, Blofeld must, by not later than 5.00 p.m. (London time) on 22 July 2022, either announce a firm intention to make an offer for Lamprell in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code. There can be no certainty that any firm offer will be made nor as to the terms on which any firm offer might be made.

This announcement has been made without the consent of Blofeld.

A further update will be made as and when appropriate.

- Ends -

[tomboyb] 24/6/2022 07:29

Offer for the company at a significant discount! -

Wow -

[ali47fish] 24/6/2022 07:28

discounted offer from blodel- what a disaster

[targatarga] 05/4/2022 13:54

Sorry - I meant 16p

[targatarga] 05/4/2022 10:11

¹6p for new shares?

[km18] 22/2/2022 17:36

...from last year...

Lamprell Plc (LAM) is an United Arab Emirates-based oil services company, which provides fabrication, engineering and contracting services to the offshore and onshore oil & gas and renewable energy industries. Current market cap is £143m.

LAMP today provided a trading update on its performance for the six months to June 30th 2021. The general message is again of solid progress on multiple fronts. Revenue was $175m in H1, with $295m secured for H2 2021. FY21 revenues of at least $470m would be the strongest since 2016 and a 39% increase on FY20 levels.

Full year EBITDA expectations are unchanged at roughly breakeven levels, following a slight negative reading in H1, implying that there will still be a small statutory net loss for FY21, but nowhere near the £53.4m recorded in FY20, let alone £184m recorded in FY19. Management are taking Lamprell steadily in the right direction, but the company will not return to positive EPS until FY22....

...from WealthOracleAm

[babbler] 18/2/2022 15:15

news actually.

[glavey] 18/2/2022 14:50

Ahhh..., Friday foolishness...

[glavey] 07/2/2022 15:25

Further to fall?

[si c] 31/1/2022 08:28

Nicely off the radar and a weekly chart that just wants to break out. Hopefully the new contract win will come off and be followed by others.

[value viper] 24/1/2022 20:22

I set up this thread all those years ago as Growdough - is this about to rise from the ashes ? Nice (potential) deal today with other clues .......

[sanks] 11/12/2021 07:43

Normally its better to wait till it drips lower then the placing. Looking at a different company.. GDR had a placing at 25p, then fell to 15p..before the Skirtlift.
For that reason, I have a buy order in at 7p the recent lows and the possibility of testing a double bottom

Hope the 7p Level 4 target helps

[shaf200] 13/11/2021 20:42

Surprised placing is at 32p. Though it would be more at 25p. Will wait for share price to fall to 32p and the buy.

[chin tu fat] 29/10/2021 15:30

Funding has already happened. Looks like the market is happy they got the cash.



On 28 October 2021, Lamprell (LSE: LAM ) announced the launch of a placing (the "Placing") by way of an accelerated bookbuild (the "Launch Announcement") led by Investec Bank plc ("Investec").

The Company is pleased to announce that the Placing was oversubscribed, and that it has conditionally placed 67,900,313 Placing Shares with institutional investors at a price of 32.0 pence per share (the "Placing Price"). In conjunction with the Placing, certain Directors will directly subscribe for an aggregate of 445,000 new ordinary shares in the capital of the Company (the "Subscription Shares", and together with the Placing Shares, the "New Ordinary Shares") (the "Subscription" and together with the Placing, the "Capital Raising").

The Capital Raising is subject to approval by shareholders at an Extraordinary General Meeting of the Company, further details are set out below.

The total gross proceeds from the Capital Raising will be approximately $30.1 million (GBP21.9 million).

[barman92] 29/10/2021 14:03

Doesn't this morning's RNS mean that they have already got the placing away?

[stuie] 29/10/2021 12:15

Pushing the price up to get the funding away then they will drop it like a stone . I would be selling into this rise personally.

[zen12] 29/10/2021 11:50

Hugh risk removed with funding secured...in current market this is excellent news.

[paulisi] 29/10/2021 11:16

Market has reacted positively...

[tyroneshares] 29/10/2021 09:55

Directors only putting in £150k between them. Not much of a commitment.Did they just put in some of their car allowances?

[buywell3] 29/10/2021 07:39

Growdough last posted on this in Nov 2008


free stock charts from uk.advfn.com

Since the thread started

[barrywhit] 28/10/2021 21:37

Placing at 32p...not too bad..

[barrywhit] 25/10/2021 12:05

A good medium sized contract win but unfortunately the share price won't rise until the placing is sorted...

[barman92] 07/10/2021 07:53

When someone typing a figure in while doing a document or a transaction makes an error and types an extra zero or gets the decimal point wrong. So I was wondering if this was really 2.5%, but looking at the identity of the ultimate shareholder he certainly has the means to acquire 25%, and the Saudi angle makes sense too