Key Developments: Hunting PLC (HTG.L)
807.50GBp
11:42am EDT
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798.00p
811.50p
811.50p
788.50p
495,759
291,835
947.14p
700.50p
Latest Key Developments (Source: Significant Developments)
Hunting Plc Proposes Final Dividend-DJ
Dow Jones reported that Hunting Plc lifted its final 2012 dividend by 27%, a dividend of 14.0 pence has been proposed to be paid on July 1, 2013 to shareholders on the register on June 14, 2013(2011 - 11.0 pence). Full Article
Hunting Plc Announces Interim Dividend
Hunting Plc announced that the board will pay an interim dividend of 4.5p per share, which represents a 13% increase over the 4.0p per share interim dividend paid in 2011. This interim dividend will be paid on November 16, 2012 to shareholders on the register at the close of business on October 26, 2012, with an ex-dividend date of October 24, 2012. Full Article
Hunting plc Completes Sale Of Hunting Canadian Airport Holdings Ltd
Hunting plc announced that it has completed the sale of Hunting Canadian Airport Holdings Ltd., and its subsidiaries including Field Aviation Company Inc. (together referred to as Field Aviation) for a consideration of GBP7.5 million (CAD12.0 million), to Amavco Inc., through its subsidiary 1650614 Alberta Ltd., a group of companies owned by a consortium of North American investors assembled by the current management team. The consideration is payable in cash. Under the terms of the sale agreement, Hunting has agreed to defer GBP1.9 million (CAD3.0 million) of the consideration. The deferred consideration is receivable no later than December 31, 2018, earns interest at a rate of 8% per annum, is unsecured and is subordinate to bank debt put in place by the purchaser. In addition, Hunting and the purchaser have agreed to establish an environmental escrow account to pay for any potential environmental matters which may arise relating to Field Aviation's hangar facilities in Calgary. The escrow account will remain in place until the property lease expires in 2027 or to a time when such environmental matters have been satisfactorily resolved. On completion of the sale, Hunting will deposit GBP2.5 million (CAD4.0 million) into this environmental escrow account. Full Article
Hunting plc Acquires Specialty Supply For USD31 Million
Hunting PLC announced completion of the acquisition of Specialty Supply L.P.(Specialty), for an initial cash consideration of USD31 Million (GBP19.5 million). The consideration paid is on a cash-free-debt-free basis and is subject to adjustment for working capital and will be funded from Hunting’s existing borrowing facilities. An additional cash consideration of up to USD5 million (GBP3.2 million) is also payable on the achievement of certain performance conditions measured over a two year period. Specialty is the last of the three acquisitions, whose aggregate consideration amounted to around GBP90 million, referred to in the announcement of the acquisition of the Titan Group on August 5, 2011. Full Article
Hunting plc Completes Acquisition Of The Titan Group-DJ
Dow Jones reported that Hunting plc announced that the acquisition of TSI Acquisition Holdings LLC or Titan Group was completed. The Titan Group is now wholly owned by the Company. Full Article
Hunting plc Acquires W L Doffing For USD20.8 Million
Hunting plc announced the completion of the acquisition of the business and assets of W L Doffing, L.P. (Doffing) a company that provides high precision machining services to the energy industry, for a cash consideration of USD20.8 million (GBP12.8 million). The consideration paid is on a cash-free-debt-free basis and will be funded from Hunting’s cash balances. An additional consideration of up to USD2.0 million (GBP1.2 million) is also payable on the achievement of certain performance conditions measured over a two year period. Full Article
Hunting plc Completes Acquisition Of Business And Assets Of W L Doffing, L.P
Hunting plc announced the completion of the acquisition of the business and assets of W L Doffing, L.P. (Doffing) a company that provides high precision machining services to the energy industry, for a cash consideration of USD20.8 million (c.GBP12.8 million). The consideration paid is on a cash-free-debt-free basis and will be funded from Hunting's cash balances. An additional consideration of up to USD2.0 million (c.GBP1.2 million) is also payable on the achievement of certain performance conditions measured over a two year period. Doffing is one of the acquisitions, whose aggregate consideration amounted to around GBP90 million, referred to in the announcement of the acquisition of Titan on August 5, 2011. Full Article
Hunting plc Declares Interim Dividend
Hunting plc announced that A dividend for the half year of 4.0p per share (2010 - 3.7p) will be paid on 18 November 2011 to shareholders on the register at the close of business on 28 October 2011. Full Article
Hunting plc Acquires Dearborn For $83.5 Million
Hunting plc announced the acquisition of Dearborn Precision Tubular Products, Inc. (Dearborn) a company that provides specialist precision machining services, for a total cash consideration of $83.5 million (GBP51.1 million). The consideration paid is on a cash free debt free basis and will be funded from Hunting's existing cash and bank borrowing facilities. Hunting is acquiring Dearborn from a company owned by three individual investors, one of whom is Dearborn's President who will remain with the business after the acquisition. Full Article
Hunting plc Announces Acquisition Of Dearborn Precision Tubular Products, Inc.
Hunting plc announced the acquisition of Dearborn Precision Tubular Products, Inc. (Dearborn) a company that provides specialist precision machining services, for a total cash consideration of $83.5 million (GBP51.1 million). The consideration paid is on a cash free debt free basis and will be funded from Hunting’s existing cash and bank borrowing facilities. Dearborn manufactures tubular and rotating metal components for customers who require products with exacting tolerances configurations. The components are used primarily for MWD/LWD* applications in the oil and gas sector, in addition to products for the aerospace and power generation industries. Full Article
Engineer Hunting rises as upbeat outlook defies sector woes
LONDON, July 1 - British engineer Hunting, which makes equipment for use in oil and gas wells, said it was benefiting from growing business in the Gulf of Mexico and U.S. oil shale industry, defying a trend of earnings disappointments in the sector.
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