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Hi ripley94, yes, lost on this one. Bought at an average of £0.1948 after Covid struck. Did due diligence and thought it was a decent prospect. Lost £2.5k; did far worse with McColl's, but thankfully better with others: a real mixed bag. I've been sitting-tight the last 9 months as events have unfolded, weighing up when to get back in.
Hi AJones, don't know the payment date sorry. At least we'll be getting something small back, but really disappointing.
Anyone know when the payment date is for the expected offer?
I lost 5k - I always thought this was a positive share , but hey lost out big time!!
Hi GregPBird did you lose on this one as I did , when did you buy in ?
Yes GregPBird accepted on the 10th , good job I did that before yesterday broker deadline as I would of missed it .
In transactions yesterday but no monies as yet .
I guess there's no real option other than to take 9p being offered then: is that what you'll be doing?
I'm probably going to do that. Too much uncertainty to do otherwise.
Offed 9p ( D ) Deadline 18th October 2022 10am .
Bought these 4 times with them *67p- 5/7/16 ..*52.7p -23/1/19 .. *43.3 - 1/7/21.. *32p - 18/1/21 .
25/5/2018 high of 101p ..5/3/21 they bounced up to 78.4p ( chance to get out at a profit on all buys )
Covid low 9/4/20 was 12p ( better then payout )
Lamprell Plc is an United Arab Emirates-based company, which provides fabrication, engineering and contracting services to the offshore and onshore oil & gas and renewable energy industries. The Company operates through five segments: New Build Jackup Rigs segment is engaged in the building of drilling rigs and jackup liftboats; Offshore Platforms cover variety of offshore construction projects including complex living quarters, wellhead decks, topsides, parts for floating production storage and offloading and other offshore fixed facilities; Modules segment includes fabrication of packaged, pre-assembled, modularized units and accommodation modules, and process modules for onshore Liquefied Natural Gas and downstream modular construction projects; Oil & Gas Contracting Services include land rig services, rig refurbishment, engineering and construction services, as well as sunbelt safety services, and Services segment contains business from Operations & Maintenance and safety services.
Strike....
I won't go into detail because it is all in the Rns's that the company have already posted.
Have a read and you will see for yourself.
The takeover has been accepted on the terms that were proposed.
You will recieve 9p per share at a date not yet released.
A little patience still needed here I'm afraid.
Having experienced a few of these in my time unfortunately - its highly likely you'll get nothing and the company will delist. They may setup a private share trading mechanism if the company survives but theyll be worth nothing hardly and youll have trouble selling any you have - i would say its game over but might be a glimmer of hope they come out of suspension eventually but I wouldnt count on it.
was always a fan of lamprell years ago, shame to see its demise in recent times
Well management managed to do some pretty bad damage to the accounts in a relatively short period of time. Bunch of clowns, but then again a bunch of clowns overseen by an equally incompetent BoD. When the bad news broke, the funds sprinted for the door. If they hadn't done so quickly, maybe we could have all salvaged a bit more than 9p, maybe even as much as 15p, but once the new owners had built a big enough stake the price was set. Few people will be tempted to reject the offer, because there will be no market into which these shares can be sold after the company goes private. If the company were able to keep active a listing, even as an aim stock, then I would continue to hold. Sadly that is not an option. So the moral of the story, steer well clear of any company trying to rebuild a damaged balance sheet, even if you see the big guys doubling down, because they too make mistakes, far more often than you think.
My guess is they are taking a position and becoming a LTH when the company goes private. It's a long shot but this company is worth a lot more than it is right now once the liquidity issue is resolve. The company is winning multimillions contract so the future looks bright if you are brave enough to hold some share in private company. However, in my case I have manage to make some good gains and will be accepting the 9p bid GLA
Good Afternoon - being a real rookie in the Share Market I would like to ask a couple of questions - why are people buying 20k shares in Lamprell seeing they are being sold and delisted - should I hold or take the 9p, I would have lost a lot of money by doing this, so totally confused!
Hello Yuri, Considering what I wrote I may have failed to grasp the gist of your reply, sorry, however, FWIW, a special resolution requiring a 75% majority must be passed for cancellation and delisting.
I'm with HL. Anyone got communication for them yet? I keep asking them and they said they will send a communication out about Lamp but so far not a peep
NicName - it's majority vote and bidders are very close to call the shots (45%+ ?)
if you take into account BoD (they've recommended this offer), speculators and some other institutional (via automated vote in "favor") - it's pretty much "done deal", retail won't have much influence on the outcome.
What I meant was, I assume it likely he will continue to hold IN ANY CASE, EVEN if the vote to delist is passed, i.e. I would not expect him to sell out for 9p!
This is probably quite an ideal time for the business, the difficulty over recent times, it seems, has been the quality of the management. Were it not that market sentiment has been poor this year they may just have managed to scrape by (which may not have been a good thing...) but what the co. should have done was a darn great raise when the market was 'full froth' 18 months ago. It's been poor management one way and another for years and those brought in to fix things have proven rather lacking.
I've always wondered why Steven Lamprell hasn't taken a more active stance. I assume it likely he will continue to hold if the vote to delist is passed.
CORRECTION (in relation to the AIM company): investment in my trading account was £2,300 (which turned into £70,000) ... but was forced to otherwise sell my £2,500 in my SIPP (at that time with Stocktrade).
As suggested by a recent poster on ADVFN: "it's called a stitch up" ... and I agree!
"Following the completion of the Offer and the delisting of Lamprell's shares and its re-registration as a private company, Lamprell Shareholders who choose not to accept the Offer will remain Lamprell Shareholders in its unlisted private form."
See: Recommended Cash Offer for Lamprell plc; Released : 21 Jul 2022 14:11 (download and word search).
The last time I saw this happen, it was in relation to an AIM company. Nine years later, I found an investment of £2,500 turned into £70,000 including dividends!
I have just invested £2,500 in LAM (27,750 shares). Hopefully, the same investment return will happen again!
BUT there may be difficulties (a forced sell) if you buy via an ISA or SIPP ... from past experience, HMRC don't like private companies ... not immediately researched on my part.
Can we hold on to our shares when the company goes private? Is there any advantaget to doing that?
After today’s rns I think someone got a bloody good deal for our company.
Just seen this see they hit a low of 5.8p 24/6/22 .
A loss of 80% here for me my broker has .
I last bought them @ 32p 18/10/21 .
before that 23/1/19 and 1/9/21 a lot higher .
Thanks DB, will give them a call Monday.
Hi BumBum, try emailing them or phone them up. Some Brokers don’t update their systems. It possibly thinks it’s still suspended ?
Not sure what the issue is as I’ve just sold my holdings no issue