Member Info for millerston

So the 10% bonds maturing in 2022 have been called at 105% of par, to be replaced by 9.5% bonds which will no doubt also be called at a premium ,at a time of the boards choosing. Nice work if you can get it. Where`s the advantage to the shareholders. Companies being ransacked from the inside, Soprano style.

Hi L,
If the cash is valued at, well ,cash; the assets, experience, systems etc are valued at only £14m. If you were starting from scratch you couldn`t replicate Costain for £14m. I often wonder do City types value what we have.

Hi L ,
Thanks for the reply, I should have got the calculator out ! Is withdrawing from the P & H contract a sign of strength or weakness as is their intension not to pursue one off capital projects ? I also wonder what our Middle Eastern co investors expect from their recent investment.

Hi All,
As I get older my powers of comprehension are waning. Regarding the trading update can anyone tell me what the net cash position is ? Is it £140.9m ? Or £140.9 minus £62m of drawn debt ? Or £117.8m minus £62m of drawn debt ? Is the £62m of drawn debt the combined debt of Costain`s stand alone business and Costain`s share of the joint ventures ?
I`m also not clear on the order book. Is it £4.2 billion ? Or is it £5.2 billion (£4.2b plus £1b on frameworks, whatever frameworks are) ? Finally, only £0.9b is secured ?
Regarding the sale of the marina, why state the sale price in euros and the loss in £`s ?
Thanks.