Here it is, your all new Cape plc thread. The chart features Bollinger Bands, MACD, 50 and 200 day SMAs.

Cape plc, provides a range of non-mechanical industrial services including access systems, insulation, painting, coatings, blasting, industrial cleaning, training and assessment to both industrial plant operators and major international engineering and construction companies.

Web Site Link:http://www.capeplc.com

Product Liability and IDC Update

Update on the chart in post 104.

Employer liability litigation settlement

Cape plc (CIU.LN), an international leader in the provision of critical industrial services to the energy and natural resources sectors, today issues the following industrial disease claim update.

The Company has previously disclosed that it has been involved in litigation with Aviva plc ("Aviva") in relation to historic insurer employer liability claims ("Insurer EL Claims"). Following the settlement of the insurer product liability claims that was announced on 13 March 2017, Cape announces that the Insurer EL Claims have been settled, with the current claims being withdrawn with no admission of liability and each party bearing their own legal costs.

Notwithstanding the Board's continued belief in the strength of its position in relation to the trial conducted in January and February 2017 and in respect of the issues to be heard at the Court of Appeal in July 2017, and thus its recovery of all legal expenses incurred, the Board has concluded that it is in the best interests of Cape and its shareholders to settle this litigation. The settlement does not require any cash consideration to be payable by the Company and will require no material change in the existing IDC provision of £172.5m as at 31 December 2016.

Contract awards and trading update

Cape plc (CIU.LN), an international leader in the provision of critical industrial services to the energy and natural resources sectors, is pleased to announce the award of strategic contracts in Australia and the UK and an update to the Group's outlook.

Australian LNG insulation award on the Ichthys project

Cape's Australian subsidiary, Cape Australia Onshore Pty Ltd, has secured a contract with JKC Australia LNG Pty Ltd (JKC) for the provision of insulation and coatings services for the Ichthys Project Onshore LNG Facilities in Darwin, Australia.

This initial contract is expected to commence in the second quarter of 2017, with the majority of activity expected to take place in the second half of the year.

UK North Sea contract award from BP

Cape Industrial Services Limited has secured two contracts to extend the Group's longstanding relationship with BP in the UK North Sea for a further three years. These contracts have a combined estimated value in excess of
£150 million.

The contracts, which have been effective from 1 January 2017, secure 400 core jobs for Cape employees in the North Sea as we provide Storage Tank Services, Industrial Cleaning, Heat Exchanger, Access, Insulation and Coating Services, along with General Operatives across BP's upstream and midstream assets. This award follows an extensive process conducted by BP, consolidating the various services provided by Cape over recent years under one delivery team and enabling Cape to drive sustainable efficiency improvements through economies of scale, reduced interfaces and additional cost savings.

Outlook

The Group continues to trade strongly and, with the additional benefit of the Ichthys award, the Board now expects that the Group's full year performance for 2017 will be materially ahead of its previous expectations. The Board anticipates that 2018 will be a more challenging year, driven by the expected reduction in volume from the current high level of construction activity in Asia Pacific and the effect of project delays and margin pressures in the Middle East.

Cape expects to announce its results for the half year ending 2 July 2017 on 22 August 2017.

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https://www.moneyam.com/action/news/showArticle?id=5581827

Agreed takeover at 265p, H

StockMarketWire.com
Cape has reported a strong trading performance and financial results in the six months to 2 July in challenging market conditions.

Revenues from continuing operations rose by 46.8% to £581.9m and adjusted operating profits were up 125.9% at £42.7m.

On a statutory basis, operating profits rose by 452.9% to £37.6m and pre-tax profits were up 2,250.0% at £32.9m.

Chief executive Joe Oatley said: "The group has delivered a very strong operational and financial performance in the period.

"Revenue, operating profit, margins and cash conversion have all improved, reflecting operational excellence in the delivery of key projects in Australia and South Korea, and effective management of the Group's working capital.

"The Group was also successful in securing strategic contract wins in the UK, with the renewal of the long-term maintenance contract with BP, and in Australia, with the award of an initial contract at the Ichthys onshore LNG project.

"The goard's expectation for the Group's full year performance remains unchanged with the anticipated reduction in construction related activities in Asia Pacific resulting in the Group's earnings being strongly weighted towards the first half of 2017.

"The board continues to anticipate that 2018 will be a more challenging year, driven by the expected reduction in volume from the current high level of construction activity in Asia Pacific and the effect of project delays and margin pressures in the Middle East."