Would anyone know why there has been such a large number of shares sold and no buying? Is there something we are not aware of?

Costain returns with enhanced proposal for Mouchel

Costain to build new bridge across the Thames
RNS Number : 5397Z

Costain Group PLC

17 January 2011

COSTAIN GROUP PLC

("Costain")

Costain to build new bridge across the River Thames

Costain is pleased to announce that it has received the go-ahead from Surrey County Council to construct the new Walton bridge as part of a GBP32.3 million scheme, creating the first major road crossing over the River Thames in almost 20 years.

The crossing, between Walton and Shepperton, is due to be completed by 2013 and will replace two temporary bridges in the area. The bridge will provide improved access to several schools, major employers and shopping centres.

Around 34,000 vehicles use the current road bridge on week days.

The government has agreed to contribute just under GBP23.9 million to the project with the council providing a further GBP8.5 million, which has already been budgeted for.

Andrew Wyllie, Chief Executive of Costain, said:

"We are delighted to be awarded this contract by Surrey County Council, which is the first road crossing over the River Thames to be built in 20 years."

One of the most undervalued stocks in the ftse index.....143 million market cap with more than 100 million pounds in the coffers....no debt or little....more than 2 billion pounds of orders....pays a dividend.....I know there is the pension to sort out...but still the same ...should be over 300p in value....bidding for Mouchel but a bid target itself...?....just has to be coming....!....

Costain to build new bridge across the River Thames


Costain is pleased to announce that it has received the go-ahead from Surrey County Council to construct the new Walton bridge as part of a 32.3 million scheme, creating the first major road crossing over the River Thames in almost 20 years.

The crossing, between Walton and Shepperton, is due to be completed by 2013 and will replace two temporary bridges in the area. The bridge will provide improved access to several schools, major employers and shopping centres.

Around 34,000 vehicles use the current road bridge on week days.

The government has agreed to contribute just under 23.9 million to the project with the council providing a further 8.5 million, which has already been budgeted for.

Andrew Wyllie, Chief Executive of Costain, said:

"We are delighted to be awarded this contract by Surrey County Council, which is the first road crossing over the River Thames to be built in 20 years."

That new bridge will be good. Thames Court in Shepperton is one of my favourite summertime pubs.

Hils - and a fine selection of real ales to boot!

Not really into real ale I'm afraid, Skinners. I'm more a Chablis kind of girl who can knock back VRBs when the need arises.

It's right on the river, so it's good fun to sit outside and just watch the world go by over lunch on a warm summer's day.

Statement regarding revised share and cash proposal to Mouchel Group plc ("Mouchel")

The Revised Proposal comprises 0.5531 new Costain ordinary shares and 30.0p in cash for each Mouchel share which, based on Costain's share price of 222.75p as at the close of business on 20 January 2011 (being the last business day prior to the date of this announcement), in aggregate values each Mouchel share at approximately 153.2p. A mix and match facility would also be provided

The Revised Proposal represents a premium of approximately 171 per cent. to the closing Mouchel share price of 56.5p per share on 3 December 2010 (being the last business day prior to Mouchel entering into its current offer period)

Costain is a future star......sp just has to go through the 300p barrier and way up....

RNS Number : 8791Z

Mouchel Group plc

21 January 2011

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION Mouchel Group plc ("Mouchel" or "the Company")

21 January 2011

Statement in response to announcement by Costain Group plc The Board of Mouchel notes the announcement this morning by Costain Group plc of its revised proposal to make a recommended offer for Mouchel. On 6 December 2010, we announced that the refinancing of our banking facilities was proceeding to plan and that we expected to agree new medium term facilities by the time of our Half Year Results announcement in March 2011.

We have made significant progress since then and we expect to finalise the new facilities shortly. The Group's key relationship banks, Barclays Lloyds Banking Group and RBS, remain supportive. We also announced, on 6 December 2010, that we had received approaches which would, if made, result in an offer being made for the Company for the purposes of the City Code on Takeovers and Mergers. Since then, we have received further approaches. We are actively reviewing these and other options. Our priority remains to enhance shareholder value, and the Board strongly advises shareholders to take no action. A further announcement will be made as appropriate. END

Costain Awarded Airports contracts.

Costain is pleased to announce it has been awarded two airport contracts. The first is an 18.6 million contract, as principal contractor, to refurbish Manchester Airport's main runway, Runway 1, under an existing Framework agreement.

The Runway 1 Project will continue through to September 2011 and the Airport will remain operational 24 hours a day during the runway closures period by utilising the 2nd runway.

Costain has also been appointed by BAA as one of the suppliers for the Local Project Integrator (LPI) at London Heathrow, the world's busiest international airport. The contract, which is anticipated to have a value of approximately 8 million per annum, will run for up to four years and will commence in March 2011. This award builds on the success of similar contracts at Gatwick and Manchester Airports and the early completion of a 25 million interchange for Gatwick.

double post...sorry.

Undervalued by a mile is Costain.....ridiculous sp.....but I suppose that they have to complete the Mouchel takeover before the share price perks up.....

DEALTALK-UK's Costain likely target of Turkey's Renaissance
03 Mar 2011 - 16:42

(For more Reuters DealTalks, click [DEALTALK/]

* Renaissance revealed early talks with a British builder

* Analysts highlight Costain, with 150 mln stg market cap

* Renaissance eyeing growth in Middle East and Russia

* Interserve overtook Costain in race to buy Mouchel


By Lorraine Turner and Evrim Ergin

LONDON/ISTANBUL, March 3 (Reuters) - Britain's Costain Group Plc is the likely target of Renaissance Construction, as the Turkish building group seeks a partner with deep roots in high-potential markets.

Board chairman Erman Ilicak said last month that Renaissance, one of Turkey's three largest construction groups, was in early-stage talks to take a controlling stake in an unnamed, 140-year-old British company.

Ilicak told reporters the potential target specialised in building nuclear plants, railways and water networks and had annual revenue of 1.5 billion euros. [ID:nLDE7191H2]

The detailed description, analysts say, points squarely at Costain: "It's difficult to come up with too many more suggestions (other than Costain)," said Panmure Gordon analyst Andy Brown.

Costain's bid to buy Mouchel failed recently, after the struggling support services firm struck an alternative deal with Interserve Plc . [ID:nLDE71O0TY]

Brown said the "bid shadow" of Renaissance could also explain Costain's reluctance to go hostile in its pursuit of Mouchel.

One wrinkle, however, is a gap in valuation: Costain's market value is about 150 million pounds ($245 million), compared with a 300 million euro ($417 million) value cited by Ilicak.

Even adding a typical takeover premium of about 30 to 40 percent, Costain's equity value would be some way below that. In "enterprise value" terms, the gap is even bigger, since as of November Costain had more than 100 million pounds in cash.

"Everything points to Costain except the valuation," said Robin Hardy, an analyst at Peel Hunt, saying it would be a "fairly punchy" deal.

But he added: "You never know what view somebody takes from what they think they can add, by combining their business with an existing business, or what they think they might be able to leverage out of it."

If Renaissance succeeds, it would be one of the biggest takeovers in Western Europe ever by a Turkish firm, according to Thomson Reuters data. Turkish buyers have only struck seven takeovers in Western Europe worth more than $100 million, the data show.

Costain declined to comment, as did its two major shareholders, Kuwait's Al Kharafi and UEM Builders, a unit of Malalysia's UEM Group, which each have stakes of about 22 percent.

Moving up nicely.

If there is a takeover of Costain, anything less than 400p would be a dirt cheap valuation to any company.

Latest from Reuters

http://uk.reuters.com/article/2011/03/04/markets-uk-stocksnews-idUKLDE6950JA20110304

Looks like its on chaps.

Should be a monday surge even without a rumoured takeover bid....been undervalued for years this great little company and the graph all points to a 300p rise at least....

Final Results.

Engineering and construction group Costain reported a strong performance in the year to end-December 2010, with a significant increase in profit before tax.

The group also reported an enhanced cash balance, a robust order book and an increased dividend for the year.

Profit from operations increased by 41% to 29.4m (2009: 20.8m).

Profit before tax increased by 54% to 27.9m (2009: 18.1m).

The group reported a strong net cash position at 144.3m (2009: 120.5m), with an average month-end cash balance of 116m during the year (2009: 125.3m).

Revenue was at 1.022bn, up from 1.061bn in 2009.

A year-end order book of 2.4bn maintains long-term earnings visibility (2009: 2.6bn).

Costain said repeat order customers account for in excess of 80% of order book and it includes c. 800m of secured work for 2011.

In addition, preferred bidder positions at year-end were maintained at over 400m.

Banking and bonding facilities were increased in early 2010 by 20% to 345m and extended to September 2013.

The IAS 19 pension scheme deficit reduced to 28.9m at year-end, net of deferred tax (2009: 75.4m).

The group recommended a final dividend of 6.25p, increasing total payout for the year by 12% to 9.25p (2009: 8.25p).

David Allvey, Chairman, commented: "We have delivered another excellent performance. Once again, the Group has demonstrated its resilience in a continuing difficult economic environment. We are confident that our position in markets underpinned by strategic capital expenditure, regulatory commitment or essential maintenance requirements will continue to stand us in good stead.

"Through our 'Choosing Costain' strategy, we are making good progress in achieving our vision of building Costain into one of the UK's top solutions providers, with the scale and resources to successfully meet the increasingly complex and challenging needs of major customers.

"To expedite the delivery of our strategy, we said that we would look at appropriate acquisition opportunities, an example of which is Mouchel Group plc, as well as organic growth. We are actively progressing a number of opportunities ranging from bolt-on to transformational transactions, and all of which must meet a strict set of criteria in the event that they were to be concluded.

"We look to the future with confidence, reinforced by our robust year-end order book, enhanced cash balance and the ongoing support of our customers committed to long-term capital investment programmes. That confidence is reflected in the Board's recommendation to increase the total dividend for the year."