Member Info for davwal

This is Hargreaves Lansdown’s explanation:
Costain Group plc wants to raise approximately £100 million (before expenses) in order to capitalise on new infrastructure market opportunities and to strengthen the Group's balance sheet. To help do this, the Company is giving existing Shareholders the chance to buy an extra 4 Shares for every 13 Shares held at the close of business on Thursday 7 May 2020.

Your shares will continue to be worth whatever the Market thinks they are worth taking account of the increase in total shares in issue and the usual market variables. At the moment the sp is still holding well above the 60p offer price, which is a good sign, but other factors are mainly in play today after the gloomy economic data and the forecast recession. Costain remains a recovery stock but in terms of company news the worst is past - hopefully!

CGX looks in an impossible position. Almost CND 300m of accrued debt, little cash, a collapsed market currently and still no complete 3D of their licensed areas - one being adjacent to Orinduik. Seems like an opportunity could be coming up for a farm-in...

There’s been no RNS announcement and Costain’s website still says TBA for the date.

Black Rock increased their short position on 28th, so by definition they see a fall more likely. Then lo and behold, there’s a convenient drop - immediately!

I’m happy for now to give them the benefit of the doubt given they flagged the probable delay in good time. Strange market with sudden extreme shifts, most of which are not in my favour today. Maybe tomorrow...

Not quite...

Oil is rebounding...

On 23 March update they said:

“The Board had expected to release its Full Year Results for the year ended 29 February 2020 on 29 April 2020. However, due to working restrictions affecting both the Company and the Auditors, there is likely to be a delay to the publication of the results. A further announcement will be made in due course.”

Things suddenly look more promising for Eco. Particularly as Total are the ones splashing the cash when the industry is suffering - which is obviously a good time to act if you have liquidity.

I bought back in at 74p, so missed the bottom today feels like a corner turned and there’s a genuine chance of significantly better times ahead, I’ll be holding now.

Good to see the announcement of Canaccord taking a decent stake.

Oh dear. Great timing - not!

Apologies for the misspelling

At least the dog hasn’t eaten the rcf...

I’ve exited over the last few days at a fair loss. I a takeover that quietly reversed itself, a rcf that never materialised etc, etc... I was taken in nut more fool me. I wish you all good luck in keeping GS in the style he has become accustomed to...

‘Breakeven‘ suggests income. Is there any?

If there is an isolated podcast (Which as we know cannot contain material information), it probably indicates a long wait for any real news.

If there’s no RNS any podcast is going to be very light in substance - simply more window dressing. The theory has been peddled by ALGW for far too long without discernible material practical progress. The infamous RCF email could be construed by some as misleading or reckless given its impact on investor sentiment and by association the sp. It really is time these people put up.

HullFC, I sincerely hope you are right. Cheers...

Whilst the increase is very welcome, and there’s always the possibility something is cooking, we should perhaps be cautious given sudden large spikes for no reason are a feature of the market in general in these strange times...