Less Ads, More Data, More Tools Register for FREE

Pin to quick picksCobham Share News (COB)

  • There is currently no data for COB

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

TOP NEWS: Cobham To Raise GBP506.7 Million In Rights Issue (ALLISS)

Wed, 01st Jun 2016 06:10

LONDON (Alliance News) - Cobham PLC on Wednesday set out the terms of its discounted, fully-underwritten rights issue, first announced in April with the aim of shoring up its finances.

The FTSE 250-listed company, which makes satellite communications equipment, microelectronics products and air-to-air refuelling technology for the aviation, maritime, defence and space sectors, tabled plans for the rights issue in late April after issuing a profit warning for 2016 following weak trading in the first quarter.

On Wednesday, Cobham said it will launch a fully-underwritten, one-for-two rights issue to raise GBP506.7 million. The company will issue 569.3 million shares at 89.00 pence per share, a 45% discount to its closing price on Tuesday of 163.49p.

The issue is underwritten by Bank of America Merrill Lynch and Jefferies International.

Cobham said it intends to reduce its indebtedness with the proceeds from the rights issue and said the move will allow it to focus on its development programmes in order to insulate the business from short-term market challenges.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

Copyright 2016 Alliance News Limited. All Rights Reserved.

More News
5 Jan 2017 12:38

Thursday broker round-up

(ShareCast News) - Royal Dutch Shell B: UBS reiterates buy with a target price of 2500p. Aviva: JP Morgan reiterates overweight, 553p target. B&M European: HSBC reiterates buy with a 350p target. Breedon: Berenberg reiterates buy with a 85p target. Cobham: JP Morgan keeps at neutral with a 175p t

Read more
23 Nov 2016 16:00

Sector movers: Meggitt, Cobham lift defence stocks

(ShareCast News) - Price gains for some key steel-making ingredients such as iron ore and thermal coal as well as in Chinese rebar futures kept pushing shares in Evraz and many of the main mining groups higher. Overnight, spot iron ore prices at Tianjin advanced from $69.0 a tonne to $71.5 a tonne,

Read more
23 Nov 2016 14:29

Wednesday broker round-up

(ShareCast News) - Anglo American: UBS reiterates neutral with a target price of 950p. Lloyds: Macquarie reiterates outperform with a 65p target. Intertek: Barclays stays at equal-weight with a 3700p target. Barclays: HSBC reiterates buy with a 190p target. Homeserve: UBS maintains neutral with a

Read more
22 Nov 2016 07:51

Cobham Chairman Devaney To Leave, Wareing To Take Over

Read more
22 Nov 2016 07:23

Cobham to replace chairman in management shake-up

LONDON, Nov 22 (Reuters) - Britain's Cobham said chairman John Devaney would be replaced by senior independent director Michael Wareing in January, amid management change at the aerospace and defence company after two profit warnings. Cobham's new CEO David Lockwood will start in December a

Read more
11 Nov 2016 17:46

Directors dealings: BAE Systems director takes profits

(ShareCast News) - BAE Systems's group director for business development took advantage of a two-day spike in the shares of the aerospace and defence engineer to take some profits. On 10 November, Alan Garwood sold 33,000 shares at an individual price of 605p each, walking off with £199,650. Betwee

Read more
11 Nov 2016 15:59

Cobham Confirms New Chief Executive To Start On December 12

Read more
31 Oct 2016 16:55

Britain's FTSE slips, though posts fifth straight month of gains

* FTSE 100 down 0.6 pct * Longest monthly run of advances since 2013 * WPP jumps after update * Shire and Next fall ahead of earnings (ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livema

Read more
31 Oct 2016 10:28

Britain's FTSE slips, though on track for fifth straight month of gains

(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 * Set for fifth month of straight gains * WPP jumps after update By Kit Rees LONDON, Oct 31 (

Read more
31 Oct 2016 09:39

BROKER RATINGS SUMMARY: HSBC Raises IAG To Hold From Reduce

Read more
28 Oct 2016 15:04

UK Dividends Calendar - Next 7 Days

Read more
25 Oct 2016 15:12

GRAPHIC-Downgrades, profit warnings ring Brexit alarms for UK mid-caps

* FTSE 250 vs FTSE 100: http://reut.rs/2eCvwk9 * Profit warnings spark broker downgrades * Earnings disappointments lead to outsized moves * Senior, Cobham, Laird among midcaps warning on profits By Kit Rees LONDON, Oct 25 (Reuters) - A spate of profit warnings among

Read more
25 Oct 2016 10:10

Tuesday broker round-up

(ShareCast News) - Segro: Barclays keeps at overweight with a target price of 520p. Howden Joinery: Berenberg downgrades to hold, 450p target. Standard Chartered: Deutsche Bank reiterates sell with a 574p target. Cobham: UBS reiterates neutral with a 160p target. Cobham: Barclays reiterates equal

Read more
24 Oct 2016 10:57

LONDON MARKET MIDDAY: Stocks Lose Gains As Iraq Complicates OPEC Deal

Read more
24 Oct 2016 10:00

UPDATE 2-British defence group Cobham cuts profit forecast again

* 2016 trading profit could be 12 pct lower than consensus * Affected by weak demand for electronics products * Shares fall 17 pct (Adds CFO comment, analyst comment, share price,) By Sarah Young LONDON, Oct 24 (Reuters) - British aerospace and defence company Cobham cut

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.