CIU.L Regulatory News (CIU)

23 Mar 2009 07:31

For immediate release: 23 March 2009

Cape PLC

("Cape" or the "Company")

Cape Australia Awarded Woodside Pluto LNG Project Contract

Cape PLC (AIM: CIU), the international provider of essential support services to the energy and natural resources sectors, is pleased to announce that its Australian subsidiary, Cape Australia Holdings Pty Limited ("Cape Australia"), has signed a A$61.4 million (GBP£29.2 million*) contract to supply Access Services during the construction phase of Woodside Burrup Pty Ltd's ("Woodside") Pluto LNG Project. The contract will commence immediately and is scheduled for completion during September 2010.

As part of the Supply Contract, Cape Australia Holdings Pty Limited, via one of its subsidiaries PCH Pty Ltd. (a company acquired by Cape in 2007), will provide approximately 150 operatives who will be located at the construction site, in the north of Western Australia. Cape and its subsidiaries provide a broad range of bundled services to Woodside through its business units based in Kwinana, Malaga, Karratha and Darwin.

Martin May, Chief Executive of Cape, said:

"Cape has earned itself an unrivalled reputation in the LNG market having been involved in approximately 70% of the world's LNG exporting facilities. Today's contract award is an excellent illustration of how well positioned Cape is in Australia - one of the world's most active regions for LNG production - and the strength of our relationships with our clients."

Steve Murdoch, Executive Director of Cape Australia Holdings Pty Ltd, said,

"We have been working with Woodside, one of the most important LNG clients in the world today, for the past ten years. We are delighted that Woodside has recognised the quality of our offering in Australia with this contract to provide essential support to the construction of their largest project." 

*the conversion rate of A$ to £ used for the purposes of this announcement was approximately 2.103

- Ends -

For further information please contact:-

Cape PLC Martin K May, Chief Executive Officer Richard Bingham, Chief Financial Officer Tel. +44 (0)20 3178 5498

Numis Securities Limited Nominated Adviser: John Harrison, Managing Director Corporate Finance Corporate Broker: James Serjeant, Director Corporate Broking Tel. +44 (0)20 7260 1000

Merrill Lynch International Andrew Tusa, Director Corporate Broking Europe Tel. +44 (0)20 7628 1000

M: Communications Patrick d'Ancona or Ben Simons Tel. +44 (0)20 7153 1540

About Cape:

Cape PLC (www.capeplc.com), which is listed on AIM (CIU), specialises in the provision of access scaffolding, insulation, fire protection, specialist cleaning and other essential services throughout asset life-cycles for major industrial clients in the international energy and natural resources sectors.

Cape employs c.14,000 people in 30 countries worldwide with its four main markets being the UK, Gulf/Middle East, CIS States/Caspian (including Sakhalin Island) and the Far East/ Pacific Rim.

In the year ended 31 December 2008, Cape reported turnover of £622.7 million.