Key Developments: Lamprell PLC (LAM.L)

LAM.L on London Stock Exchange

124.75GBp
19 Dec 2014
Price Change (% chg)

2.50p (+2.05%)
Prev Close
122.25p
Open
126.00p
Day's High
126.00p
Day's Low
120.75p
Volume
216,890
Avg. Vol
414,534
52-wk High
178.00p
52-wk Low
110.78p

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Latest Key Developments (Source: Significant Developments)

Lamprell Plc announces completion of INSPEC sale and enters into supplier agreement
Monday, 3 Mar 2014 02:02am EST 

Lamprell Plc:Completes the sale of INSPEC to Intertek Testing Services Holdings Ltd for a total cash consideration of $66.2 mln.Group has also entered into a multi-year preferred supplier agreement with Intertek for the provision of services by INSPEC.  Full Article

Lamprell Plc Announces Arrival Of New Chief Financial Officer
Wednesday, 2 Oct 2013 02:00am EDT 

Lamprell Plc announced that reference to the announcement of August 28, 2013, the Company confirms that Joanne Curin has taken up her role as Chief Financial Officer for the Group and as an Executive Director on the Board. As announced previously, Frank Nelson will continue to sit on the Board of Lamprell and to support Ms.Curin until the end of October to ensure a smooth and orderly transition.  Full Article

Lamprell Plc Announces Ownership Interest Of Prudential Plc Group Of Companies
Thursday, 19 Sep 2013 05:00am EDT 

Lamprell Plc announced that Prudential plc group of companies holds 15,038,090 shares, representing 5.77% of the Company's total voting rights.  Full Article

Lamprell Plc Receives Contract For Major Refurbishment Project
Friday, 13 Sep 2013 02:00am EDT 

Lamprell Plc announced that it has been awarded a rig refurbishment contract by the Millennium Offshore Services group (MOS). The contract relates to the conversion of the "MOS Frontier," a three-legged Type MLT116C jackup rig, and is valued at approximately USD64 million.  Full Article

Lamprell Plc Secures Contract
Friday, 30 Aug 2013 02:03am EDT 

Lamprell Plc announced that an international drilling contractor has taken up an option that Lamprell had for a kit for a Super 116E (Enhanced) Class design Mobile Offshore Drilling Platform and has now made a contract award to Lamprell for the construction and delivery of a completely outfitted, LeTourneau designed, jackup rig. Lamprell will fabricate the jackup rig in its Hamriyah facility with expected delivery in first quarter of 2015.  Full Article

Lamprell Plc Draws On Debt Facility-DJ
Thursday, 1 Aug 2013 04:07am EDT 

Dow Jones reported that Lamprell Plc said it has satisfied the conditions for utilization on its new $181 million banking facilities and now drawn down on these, without saying how much. Agreement remains subject to certain conditions subsequent which Lamprell anticipates being satisfied in the next few weeks. Lamprell announced June 17 it had conditionally agreed a new $181 million facility comprising a $100 million term loan, a $60 million term loan and a $21 million revolving credit facility.  Full Article

Lamprell Plc Inks Agreement For New Banking Facility-DJ
Friday, 19 Jul 2013 02:15am EDT 

Dow Jones reported that Lamprell Plc Inks said it has received binding commitment letters and agreed heads of terms for the arrangement of a new secured banking facility, it has signed a definitive agreement with the lenders. The agreement is subject to certain conditions precedent, which Lamprell anticipates being satisfied in the next few weeks, at which time the new facilities will replace the Group's existing funded facilities.  Full Article

Lamprell Plc Inks New Secured Banking Facilities-DJ
Monday, 17 Jun 2013 02:09am EDT 

Dow Jones reported that Lamprell Plc said it has arranged new secured banking facilities with a reduced number of five core lending banks. The new $181 million facility arrangement is comprised of a $100 million term loan (Facility A), a $60 million term loan (Facility B) and a $21 million revolving credit facility (RCF). All are scheduled to mature in June 2016 although Facility A amortises over the loan period and Facility B is subject to a one-year optional extension. The new facility will replace the Group's existing funded facilities and will sit alongside the continuing bilateral unfunded facilities, which are used for the issue of bonds and guarantees. This arrangement are expected to be completed in June or July 2013. The blended average interest margin for Facility A, Facility B and the RCF is estimated to be 6.7%. Facility B interest costs increase incrementally from July 2014, however, upon repayment of Facility B, the margins in Facility A and the RCF will reduce.  Full Article

Lamprell Plc Recommends No Dividend
Thursday, 21 Mar 2013 03:00am EDT 

Lamprell Plc announced that the Board of Directors recommends that the Group makes no dividend payment for the year.  Full Article

Lamprell Plc Announces Appointment Of Chief Financial Officer
Thursday, 21 Mar 2013 03:00am EDT 

Lamprell Plc announced that with immediate effect, Frank Nelson has been appointed as Chief Financial Officer and has been appointed an Executive Director on the Board. Mr Nelson had been Interim Chief Financial Officer since November 12, 2012.  Full Article

Lamprell gets $365 mln rig contract from Abu Dhabi's NDC

Nov 12 - British rig maker Lamprell Plc received a new contract worth about $365 million from Abu Dhabi's National Drilling Co for two jackup drilling rigs.

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