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Pin to quick picksPlexus Share News (POS)

Share Price Information for Plexus (POS)

London Stock Exchange
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Share Price: 14.05
Bid: 13.50
Ask: 14.00
Change: 0.00 (0.00%)
Spread: 0.50 (3.704%)
Open: 13.75
High: 14.05
Low: 14.05
Prev. Close: 13.75
POS Live PriceLast checked at -

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Plexus raises £6m to help it through downturn

Mon, 13th Jun 2016 16:20

(ShareCast News) - Oil and gas engineering services business Plexus Holdings announced on Monday it has agreed the terms of a conditional placing to raise £6m before expenses, by way of a placing of 9,230,770 new ordinary shares at a price of 65p each to new and existing investors.The AIM-traded firm said the placing is intended to strengthen Plexus' balance sheet during the current down cycle, and provide Plexus with the flexibility to support the capital requirements of its long-term strategy of becoming a leading international oil and gas services company, supplying a new standard of wellhead equipment and associated products for exploration, production and subsea applications.It said the proceeds of the placing will be applied across a number of its areas of activity to ensure it is well-placed to take advantage when sector activity resumes."We view the successful raising of £6m as testament to Plexus' standing as the provider of superior POS-GRIP jack-up rental wellhead equipment to the international oil and gas industry, and I would like to thank those existing and new shareholders who have supported this initiative and who recognise the company's significant growth prospects, particularly as we begin to focus on moving into the significantly larger land and platform and subsea markets," said chief executive Ben van Bilderbeek.At 1620 BST, shares in Plexus were down 2.23% at 65.75p.
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Plexus, the oil and gas drilling technology innovator, has won a new contract to supply equipment services for an exploration well offshore Morocco. The contract, with Portuguese company Galp Energia Tarfya, is worth £0.6m with revenues expected to begin in April 2014. The contract is Plexus's fi

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23 Apr 2014 10:19

Plexus Holdings Signs GBP600,000 Contract With Galp Energia Tarfya

LONDON (Alliance News) - Plexus Holdings PLC Wednesday said it has signed a contract with a new customer, Galp Energia Tarfya, to supply surface wellhead and mudline equipment services for an exploration well offshore Morocco. The AIM-quoted oil and gas engineering services business said th

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27 Mar 2014 14:56

Plexus Holdings Pretax Profit Increases On Wellhead Sales

LONDON (Alliance News) - Plexus Holdings PLC Thursday said its pretax profit increased in its first-half as high pressure high temperature wellhead equipment sales helped company finances. The oil and gas engineering group said its pretax profit increased 5.8% to GBP1.9 million for the six

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27 Mar 2014 11:59

Plexus interims promising as contract momentum builds

Encouraging first-half results from sub-sea oil drilling technology innovator Plexus saw a double-digit rise in profits as it diversified its contract base outside the UK's waters. Plexus, which was also buoyed by news that Chancellor George Osborne announced new Budget incentives to develop deepw

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25 Mar 2014 11:05

Plexus Receives Purchase Order From Centrica Worth GBP900,000

LONDON (Alliance News) - Plexus Holdings PLC Tuesday said it has received an additional purchase order from Centrica PLC estimated at the value of roughly GBP900,000. The oil and gas engineering group said the deal is to supply surface wellhead and mudline equipment services for a gas appra

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28 Feb 2014 14:12

Plexus Holdings Signs New GBP400,000 POS-GRIP Contract

LONDON (Alliance News) - Oil and gas engineering group Plexus Holdings PLC Friday said it will supply drilling firm AGR Well Management Ltd with its POS-GRIP wellhead technology after signing a three-year contract worth an initial GBP400,000. The POS-GRIP method of engineering deforms one t

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