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Cobham Share News (COB)

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Cobham looking to raise £506.7m in rights issue

Wed, 01st Jun 2016 07:54

(ShareCast News) - FTSE 250 defence and aerospace group Cobham is looking to raise £506.7m in a one-for-two underwritten rights issue.The company will issue just under 569.3m shares at 89p per share, which is a 45.4% discount to the closing price on 31 May.The rights issue is fully underwritten by Bank of America Merrill Lynch and Jefferies International and is not subject to shareholder approval.Chief executive officer Bob Murphy said: ""The rights issue will put Cobham on a sound financial footing by reducing gearing towards its target of below 2x net debt to EBITDA. The board confirms the outlook for the year ended 31 December 2016 remains consistent with the 26 April 2016 announcement. "We remain confident that continued investment in technology and know-how will enable us to maintain our leading positions in specialist markets with good prospects leaving Cobham well placed to deliver growth over the medium term."Cobham proposed the rights issue back in April, when it reported a big slump in first-quarter profit.The company attributed the slow start to the year to operational issues in the Wireless business resulting in delayed shipments and a one-off charge of £9m.It also pointed to increasing headwinds in the commercial fly-in fly-out business and cost increases on a small number of development programmes in the Advanced Electronics Solutions Sector.At 0818 BST, shares were up 1.2% to 164.90p.

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UPDATE 1-UK's Cobham boosted as turnaround gains pace

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1 Mar 2018 08:58

LIVE MARKETS-Results drag European shares, investors warm to UK domestics

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17 Feb 2017 09:19

Friday broker round-up

(ShareCast News) - AstraZeneca: Jefferies reiterates Buy with a target price of 5250p. BT Group: Jefferies reiterates Hold with a target price of 325p. Standard Life: Macquarie reiterates Outperform with a target price of 450p. Cobham: Goldman Sachs reiterates Sell with a target price of 88p. Dra

16 Feb 2017 17:08

UPDATE 1-European shares retreat after 7 sessions of gains, Cobham plunges

* STOXX Europe 600 index down 0.4 pct * Cobham plunges 20 pct after profit miss * Miners track weaker copper prices * Air France rallies after strong update (Adds details, closing prices) By Atul Prakash LONDON, Feb 16 (Reuters) - European equities fell on Thursday

16 Feb 2017 17:05

LONDON MARKET CLOSE: Sterling Rebound, Ex-Divs Send UK Stocks Lower

16 Feb 2017 16:59

Britain's FTSE retreats from one-month peak, mid-cap index snaps winning streak

* FTSE 100 down 0.3 pct * Energy, auto shares fall * Ex-divs weigh * Cobham slumps after results * FTSE 250 snaps 7-day winning streak By Kit Rees and Helen Reid LONDON, Feb 16 (Reuters) - Britain's top share index retreated from a one-month high on Thursday, w

16 Feb 2017 14:53

Sector movers: Aerospace & Defence and Oil & Gas drag market lower

(ShareCast News) - Stocks in the aerospace and defence space bore the brunt of selling after Cobham warned on profits for the fifth time in just over a year. The FTSE 250 aerospace and defence group took a total of £179m in charges, including £150m from the KC-46 air tanker contract with Boeing, whi

16 Feb 2017 10:30

Britain's FTSE retreats from one-month peak, commodity-linked stocks weigh

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets) * FTSE 100 down 0.4 pct * Miners, energy shares fall * Ex-divs weigh * Cobham slumps after results By Kit Rees

16 Feb 2017 10:13

European shares retreat after 7 sessions of gains, Cobham plunges

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon - see cpurl://apps.cp./cms/?pageId=livemarkets) * STOXX Europe 600 index down 0.3 pct * Cobham plunges 20 pct after results * Miners track weaker metals prices By Atul Pr