Lamprell Share Discussion Threads

[dealy] 08/8/2022 08:26

shares should be trading again now

[dealy] 05/8/2022 10:21

only alternative is if they agree an asset sale that means they can walk away from the binders' financing deal.

[glavey] 05/8/2022 06:52

Execs keen to keep their jobs?

[pally12] 04/8/2022 10:04

This is the 1st company I can remember that accepts the 1st offer on the table

[dealy] 21/7/2022 18:39

please ignore this silly remark I made. it's 9p. no alternative. I wonder will the shares resume trading soon?

[ali47fish] 21/7/2022 17:20

is that it- probably all retails shareholders will end ep losing money while the company will be privatised- end of story

[dealy] 21/7/2022 16:06

There is still a chance the company could either sell the oil and gas business / JV or pit in place new finance

[tomboyb] 21/7/2022 15:38

9p per share offer -

[dealy] 18/7/2022 09:35

I wonder what Stephen Lamprell thinks of all this. No deal unless he approves

[dealy] 12/7/2022 10:31

basically Sami and Blofeld have the cash to keep the company going. The price they will charge for this service though is that all upside in the equity goes to them.

[dealy] 12/7/2022 10:13

There is still the possibility that a working capital financing is arranged separately or other milestones are shifted such that a sale of the company is not required this year.

[tomboyb] 12/7/2022 09:48

Dealy -

This is a result albeit poor for shareholders above that value -

But with the debt levels it is something -

My assumption was lower -

[dealy] 12/7/2022 09:45

I think this is an opening salvo

[tomboyb] 12/7/2022 09:37

2 July 2022

LAMPRELL PLC

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

UPDATE REGARDING POTENTIAL OFFER

Further to the announcement made on 24 June, the Board of Lamprell PLC announces that it has received a combined non-binding indicative all cash offer to acquire the entire issued and to be issued share capital of Lamprell (the "Possible Offer") from Blofeld Investment Management ("Blofeld") and Al Gihaz Holding Company ("Al Gihaz") (together, the "Joint Bidders"). The Joint Bidders have a combined shareholding of 44.24 per cent in Lamprell.

The Joint Bidders are working as fast as possible to put forward the Possible Offer for the entire issued and to-be-issued share capital of Lamprell at a price of 9 pence per ordinary share which also includes a proposed secured bridging loan with a peak aggregate amount of USD 145 million.

The Board of Lamprell has carefully evaluated the Possible Offer together with its financial adviser, Investec Bank plc, with regard to the Company's current liquidity needs as set out in the Company's announcement on 24 June.

The Board has concluded that should a firm offer be made on the same financial terms as the Possible Offer it would be minded to recommend it to Lamprell shareholders, subject to the agreement of other customary terms and conditions and subject to agreement of the proposed bridging loan.

Pursuant to Rule 2.5 of the Code the Joint Bidders reserve the right to amend the terms of any offer if Lamprell announces, declares or pays any dividend or any other distribution or return of value to shareholders after the date of this announcement, in which case the Joint Bidders reserves the right to make an equivalent adjustment to the terms of the Possible Offer.

There can be no certainty that any offer for the Company will be forthcoming, nor any certainty as to agreement on the interim financing solution with the Joint Bidders.

In accordance with Rule 2.6(a) of the Code, the Joint Bidders 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 they do 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.

This announcement has been made with the consent of the Joint Bidders.

A further update will be made as and when appropriate.

- Ends -

[tomboyb] 12/7/2022 09:36

RNS out -

possible 9 per share return -

[dealy] 08/7/2022 16:45

So Stephen Lamprell, Blofeld and Sami have 73% of the shares between them. 3 people in a room needed to get a deal done.

[dealy] 07/7/2022 16:40

looks just like confirming of total shares issued, options etc, holdings by Blofeld

[kadvfn1] 07/7/2022 16:16

What's the latest RNS about? Anyone who understand please can you explain? Thanks

[dealy] 05/7/2022 17:15

Sami is the only guy buying and he is not a board member (yet)

[ali47fish] 05/7/2022 17:12

so members of the board are buying- is this siginficant and what implicatios for the curren situation

[dealy] 05/7/2022 07:37

https://www.seatrade-maritime.com/shipyards/lamprell-mulling-fire-sale-face-liquidity-crisisThis article was written just before Sami started announcing his stake. Explains a lot. In a region awash with cash there should be plenty of scope to secure working capital financing

[dealy] 02/7/2022 12:16

In theory yes but in virtually all other cases that I have seen recently in the UK (e.g. Ted Baker, Staffline, Petrofac, Ocado, del Rue, Aston Martin, Tullow, Asos, as well as Lamprell in October) the shareholders (old and new) simply stomp up the necessary cash to keep lenders in the game. So why would it be an exception here and now?

[pwhite73] 02/7/2022 11:46

dealy - "The administrator then begins a lengthy asset sale process based on the highest bidder. Nothing to do with shareholders.".

Wrong. To avoid the time and money wasted on the above is why you have pre-pack administrations. The administrator already has a buyer lined up before insolvency practitioners are appointed by the High Court. It saves everybody huge amounts of time and money. Morrisons took over McColls stores in a pre-pack administration.

[dealy] 02/7/2022 11:21

So the idea that Blofeld and Sami can benefit from an administration is ludicrous