Lamprell Share Discussion Threads

[zen12] 28/6/2022 08:56

40,146,600 @ 6.5p!

[tomboyb] 28/6/2022 08:52

40mill trade -

[orkneyarab] 28/6/2022 07:44

There are plenty people who were holders last week who have effectively "lost the lot" already. Great opportunity for anyone coming in now, as long as you have all the facts. No share is absolutely safe, just depends on your risk/reward ratio.

[gepetto100] 28/6/2022 07:43

I agree PWhite this is technically insolvent but both parties are still talking and not calling it yet, although we are nearing 30th JuneA very straightforward debt repayment is getting into complex picture both with holders moving out, no clear picture on who may be buying up the stock, any other key players who have a stake in what is a good value order book such as Aramco etc

[pwhite73] 28/6/2022 07:35

Yes they certainly have and the other major shareholder Lamprell Holdings who between them own 54% of the company. They basically want the current incompetent team out and the operations handed over to a private professional concern. The board are fighting for their lifestyle jobs. With the official default on a $27 million loan announced yesterday the company is now technically insolvent. Anything can happen from here. If you are in be prepared to lose the lot. Likewise it can go the other way and something positive is worked out.

[glavey] 28/6/2022 01:58

PWhite, do you get the impression that Blofeld have been / are working to effect the situation?

[dealy] 27/6/2022 17:30

Lenders get nothing if a company collapses. Best to keep it alive

[pwhite73] 27/6/2022 17:22

These are totally different times. There is a war on and a deep recession looms. Secured lenders are moving quickly to protect their money. Administration prevents a company from spending any further cash as the bank account is frozen immediately. Secured lenders of LAM could not have done this before today, they can now.

It would be fantastic to hear of an extension but just be careful.

[zen12] 27/6/2022 17:02

Agree, they'll get an extension.

[dealy] 27/6/2022 16:40

Normally there is a month grace period with repayment or coupon deadlines

[pwhite73] 27/6/2022 16:26

There is the RNS confirming they are now trading insolvently. Do be careful here.

[dealy] 27/6/2022 16:22

I don't think the UAE Trade Finance guys will put them under over a delay. They will cut them some slack

[orkneyarab] 27/6/2022 15:17

Especially after such a strong finish on Friday. I'm surprised it's finished blue tbh, but absolutely delighted!

[zen12] 27/6/2022 15:12

Been very steady all day today, normally not the case after hugh swings last Fri.

[orkneyarab] 27/6/2022 13:08

Big funds offloading equals a great opportunity for the humble private investor for a change. Not so good for those long term holders, but who holds shares for any length of time these days?

[zen12] 27/6/2022 12:58

Yep hugh dump that!

[orkneyarab] 27/6/2022 12:46

Probably had to. Once a market cap reaches a certain level some funds have to sell. Part of risk management.

[dealy] 27/6/2022 12:38

Premier Milton dumped their 5% holding on Friday. That alone could trash a stock price. Smart or just frustrated ?

[gepetto100] 27/6/2022 07:08

MMS will push the ask up on this early - they need to get rid of Fridays overhang

[david56920] 27/6/2022 06:59

Suggestion (LSE)that there maybe 2 possible bidders circling

[pwhite73] 26/6/2022 23:31

There are two threats to suspension. The first is tomorrow when they default on a loan the second is 30/06/2022. If a company defaults on a loan by reason of not being able to pay then it is technically insolvent. It is a criminal offence to trade whilst insolvent so a suspension RNS could come as early as 07:00 tomorrow.

Main listed companies have four months until the year end to publish the results. Under Covid rules another two month extension was granted. The year end for LAM is 31/12/21 which means the results would normally have to be out by 30/04/222. An extension to 30/06/22 has been utilised. There can be no further extensions beyond 30/06/22 unless the company opts to change its year end date.

[kreature] 26/6/2022 20:42

is there any hope here? didn't the same thing happen around 10 years ago ?