Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Thanks Valjean, I hadn't spotted that!
Maybe because you stated September instead of October?
Casapinos, I fail to see what is erroneous about my last post! The link I posted,clearly shows that today is the last day for trading AMFW shares. At the end of business today AMFW shares will be suspended, and then converted into WG. shares, which is what I said. I have chosen to take my profit and sell out, rather than accept shares in the heavily shorted Wood Group, (current short position 15.28%). Ignoring the shorters can be costly, as I have discovered to my cost with Carillion.
Previous posts were erroneous , tomorrow is the last trading day for AMFW shares and recent price action shows a last minute rush for people to arbitrage their way into WG.As of this minute the ARB has gone so all holders either sell now or accept 3/4 WG shares as of monday , FWIW I will hold as I bought AMFW in the 400's for this purpose, LT the new enlarged WG and the return of oil infrastructure investment looks promising.
Looks like AMFW shares will be suspended at end of day on Friday 6th Sept, and new WG shares to be issued on Monday 9th. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/WG./13363761.html
Looks like AMFW shares will be suspended at end of day on Friday 6th Sept, and new WG shares to be issued on Monday 9th. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/WG./13363761.html
Does anyone have the date on the conversion to wood group
AMEC just received a winding up notice from National Grid.
Going to be a busy board on Wednesday!
Hi SYV, Sorry that example I posted has a price difference of 15p (504 - 489), not 5p as I stated. Today WG = 654 and AMFW = 476.1. Doing the same calculation WG 654 x3 /4 = 490.5p. So still around 15p difference.
Appreciated
Hi SYV, The maths is quite simple. To convert AMFW shares to WG multiply by 4 and then divide by 3. To convert WG shares to AMFW multiply by 3 and then divide by 4. Current WG price is 673p. Hence 673 / 3 x 4 = 504.75 is what AMFW would be worth if deal completes. Current price for AMFW is 489.7p. So the difference at the moment is just 5p per share, it has been much wider recently.
I would be interested in people's thoughts as my broker has offered me through the formal offer 75percent of shares in amfw and trying to do the maths if I buy more amfw shares I should make a profit when converted into wood group my workings are 575
There is no completion date yet - but just discovered there's a big meeting between the parties involved on June 15th - expect a possible RNS after that date hopefully hinting at a completion date for the takeover/**************.
Do any of the old-school holders here, now the date AMFW shares become WG. shares? Can't find any completion dates anywhere; does anyone know?
Very insightful post, I bought in to WG. today.
I've been writing posts on here for a long time saying that Amec FW is a good company. Today, apart from the takeover, Amec announced that they had won a contract in the middle east - this is leveraging off Foster Wheeler's reputation in the middle east. As the industry gets busier this will help Amec to win more win. Amec FW in itself had strong engineering capabilities. With regard to the fascinating Wood Group takeover, this creates an industry giant. In Aberdeen especially the firm will loom massively : must have around 90% of the engineering in Aberdeen. Secondly, this finally gives Wood Group a serious base in London (they had a small one through the acquisition of Mustang - Woking office - a few years back but that was not one of the major London area offices. The most prestigious in the industry were: Amec, KBR Leatherhead, and CBI and Worley Parsons, Brentford. Like some of the other giants of the industry – Worley Parsons and Technip – WoodGroup has grown very intelligently through acquisition of smaller but prestigious firms and seems to have better management than Amec. There are some good synergies. Amec London is a greenfield specialist like WoodGroup's Norwegian office (formally Agility, and before that Grenland) which is on the east coast of Norway where the work is mainly greenfield. StatOil, who award most of the work for Norway, always wanted a rival to Aker (the giant in Norway) and Aibel (second biggest contractor there) - now with this acquisition the Amec/ wood Group group may be able to tap this lucrative market.
Can't believe I sold out a few weeks ago. Glad to see some of you have made money.Question is do you buy in now, looking at the buy and sell it would seem that a lot are buying. Guitarman good luck with what you have going on.
To be honest I think the whole sector will do well over the next 5 years, BUT there could be a drp in POO between now and then, Like I said premier oils SP is being shorted hard from now untill next wednesay by the convertable bond holders to so the price they get to buy/convert at is as low as they can get it at. After next wednesday the shorts will lift a bit and expecting SP to rise. However the price of oil is a concern ATM so nothings a guarantee. Good luck to you both!!
Very sorry about your girlfriend. If you have sold and made money then I would focus on the positives especially in your situation, In the past could make BIG money when a company you were in was takenover. Of recent timesI dont see this so much, Ithaca was an example of this was nearly given away, so dont necessarily feel you have lost out as it might not be the case! Premier oils a good buy now but there is risk with it, but if the moneys to enjoy time with your girlfiend I hope you do that and dont necessarily feel you have missed it out!
Good for those who stuck with it. Its been good to me but took profit a while ago 2.23b takeover
God news day here sees a solid rise in SP. Company Capital Market Day on the 21st should reassure alot of investors where AMEC is heading.
Another good one 5 year deal with shell sp got to move now !!!
concentrating on core business, selling off other unites to fund debt, solid moves
Be nice to see us back to Mid Jan levels