Lamprell PLC (LAM.L)
8 Dec 2016
Latest Key Developments (Source: Significant Developments)
Lamprell Plc:Says that James Moffat has decided to retire effective June 30, 2016, and will stand down as chief executive officer and as a director on that date.Says that until June 2016, Moffat will continue in his role as a director and chief executive officer allowing a smooth handover of his responsibilities.Says John Kennedy will take on role of executive chairman for the group until next annual general meeting of the company in 2016 as the company refreshes its strategy in light of the current market environment.Says Tony Wright has been promoted to role of chief financial officer and has been appointed as an executive director of the board with immediate effect. Full Article
Lamprell Plc:Says that National Drilling Company (NDC), Abu Dhabi, has exercised one of its existing options and awarded a contract to Lamprell for the construction and delivery of a high specification jackup drilling rig.Lamprell has previously been awarded contracts by NDC for a series of eight rigs and this ninth rig will be of the same design.The LeTourneau-designed, Super 116E (Enhanced) Class mobile offshore drilling unit will be constructed at Lamprell's facility in Hamriyah, United Arab Emirates (UAE), with a planned delivery in Q2 2017. Full Article
Lamprell Plc:Expects to report financial performance for FY 2014 slightly ahead of expectations following strong finish to year. Full Article
Sept 22 Oil-rig builder Lamprell Plc said it was implementing further cost reductions in the face of contract cancellations, pushing its shares up more than 10 percent.