LONDON, Dec 23 (Reuters) - South African-based Shaft Sinkers Holdings Plc SHFT.L, which builds infrastructure for underground mines, listed in London on Thursday so it can expand in India and the region surrounding Russia.
Its shares started trading at 130 pence, up 4.8 percent from the placing price of 124 pence, giving it a market value of 61.75 million pounds ($95.24 million).
The group is the top builder of vertical shafts in South Africa, home to some of the deepest mines in the world. It sunk the deepest ever shaft there at 3.1 kilometres.
"The listing will allow us to build on our strengths and expand into new industries and geographies requiring our expertise, particularly the CIS (Commonwealth of Independent States) and India," said Chief Executive Officer Alon Davidov.
Shaft Sinkers, originally part of miner Anglo American (AAL.L), is controlled by private mining group International Mineral Resources, according to its website.http://www.shaftsinkers.co.za/
[International Mineral Resources B.V. engages in mining and exploration services. The company is based in Amsterdam, the Netherlands. International Mineral Resources B.V. operates as a subsidiary of Eurasian Natural Resources Corp Plc.]
A placing of 24.7 million new shares raised 30.6 million pounds, most of which will be used to buy out some minority stakes, but it did not specify which ones. ($1=.6483 Pound).

StockMarketWire.com
Shaft Sinkers Holdings will announce its results for the six months to the end of June on 31st August 2011.

FWIW the Market's fear of World Economic collapse is affecting even this mammoth,
down below Float (DYOR), and I presume even the prospect of a divi - is all in the price.
Can somone confirm this is Full List and ISA-able?
(I don't hold for reasons stated on p1).Mid=132p
Reading Harrycat's post=35, . . . reads OK.

+Other LT views, I wonder?

Shaft Sinkers Holdings plc

Re Teesta Urja Operation
Shaft Sinkers Holdings plc ("the Company") (LSE:SHFT), the international shaft sinking and underground construction group, announces that work on its project for Teesta Urja in India was suspended on 20 September 2011 following the earthquake in the Sikkim province on 18 September 2011.

The project is located close to the earthquake's epicentre in an area that has suffered damage. There were no injuries to the Company's employees and there is no immediately apparent physical damage to the project or to equipment. The company has taken the precaution of evacuating all employees, as logistical access to the site is affected.

The financial impact of suspension of operations is unlikely to be material. The company is investigating the safety parameters that would allow operations to resume and the project to be completed and will update the market in due course.

Given up on this, One and All?
77p down from float at 150p and a following rise - arghh!

What I don't understand is why an experinced Co digs a hole in a known earthquake zone...... foolish or was that the onl;y deal in Town?

Bargepoles methinks, one of the most difficult things in business is to know when not to take on a job.

A lot of the mining sector is being clobbered at the moment, worse than most methinks

StockMarketWire.com
Shaft Sinkers Holdings, the international shaft sinking and underground construction group, has confirmed that due to the continued slow progress resulting from extremely difficult ground conditions, it has entered into discussions with its client EuroChem with a view to amend or terminate the contract.

Sinking works have now been suspended and the parties are in negotiation on the way forward. A further update will be made in due course.

Right name

Oh dear.

This company does not need a problem like this. More jobs at risk.

Is this not only one contract of many, not armageddon.. A 30% drop seems a bit over the top.Especially in view of already steep falls.

After falling about 150 points from its highs,to 40, it looks like some sort of recovery is on the cards.
At any rate up 7 in the last few days

StockMarketWire.com
Shaft Sinkers Holdings anticipates that results before exceptional items for the year ended 31 December 2011 will be ahead of market expectations.

Unaudited group revenue has grown by some 20% from £183 million in 2010 to approximately £220 million in 2011 despite a slightly weaker exchange rate. However, in constant currency terms, revenue has grown by approximately 23%.

Exceptional items are expected to comprise a charge of £3.8 million for the IPO bonus as disclosed in the Prospectus, the second half of which was paid in early 2012.

The Group ended 2011 with net cash of approximately £6.0 million after deduction of interest bearing debt of around £16.4 million.

19 March..
Westhouse Securities.. 'Strong Buy'.. target 170p

Reiterates

I hold

170p would be very nice! I also hold from 71p.

Contracts Awarded - Impala Platinum
Shaft Sinkers Holdings plc (LSE:SHFT), the international shaft sinking and underground construction group, is pleased to announce it has been awarded the contract for development of levels 21 to 24 of the Impala 16 ventilation shaft for Impala Platinum. The contract is scheduled to be completed in June 2013 with a total value of £28.6 million (R348.2 million).

The Company is also pleased to announce the award of the shaft services contract for the Impala 16 ventilation shaft, scheduled to be completed in June 2013, which has a total value of £12.5 million (R148 million).

Finally, the Group has also been awarded an amendment to the existing contract for additional work in the equipping of the Impala 16 main shaft for a total value of £6.7 million (R81.9 million).

The contracts are in line with management expectations for new works and contract extensions to be secured during the year.

Contract Awarded - Afplats

Shaft Sinkers Holdings plc is pleased to announce it has been awarded a new contract.

The contract is for the continuation of sinking activities on the Afplats Leeuwkop project main shaft to a depth of 325.8m. The contract commences immediately and is scheduled to be completed in September 2012 with a total value of £11.05 million (R134.7 million).

The contract is in line with management expectations for new works and contract extensions to be secured during the year.

Speaking today, Alon Davidov, Chief Executive, said:

"The award of this contract is testimony to our quality of execution and client commitment. The project has progressed well and we look forward to working with Afplats to deliver on this, as well as future expansions of their projects."

B 84p - O 87p. Doing very nicely on the back of a number of contract gains. Somewhere around 100p looks likely in the short term, imo.

StockMarketWire.com
Shaft Sinkers group remains financially sound and despite the economic slow-down has seen an ever-increasing number of tender enquiries which should add to the order book in the year ahead.

Revenues grew by 23.7% in 2011, to GBP226.5 million (2010: GBP183.1 million). The increase is mainly attributable to higher revenues at Lonmin's Saffy and Hossy shafts where Shaft has additional capital development contracts.

Gross profit increased by 31.2% to GBP38.3 million (2010: GBP29.2 million). However profits for the year decreased by 31.0% in GBP terms after taking account of the exceptional items in 2010 and 2011.

The Group's cash position remains strong after having utilised part of the funds raised at the IPO on winder refurbishment and part to expand working capital.

The company paid a maiden interim dividend of 2.4p per share in October 2011 and the Board is recommending a final dividend of 4.8p per share payable in June 2012.

Highlights
· Revenue up by 24% to GBP226.5 million (2010: GBP183.1 million)
· Gross profit margins up by 31% to GBP38.3 million (2010: GBP29.2 million)
· Adjusted profit before tax up 29% to GBP16.6 million (2010: GBP12.9 million)
· Adjusted EPS up 28% to 23.4p (2010: 18.3p)
· Earnings per share 18.3p (2010: 29.8p) after exceptional items
· Maiden interim dividend paid 2.4p
· Final dividend recommended 4.8p
· Net cash and cash equivalents of GBP6.1 million (2010: GBP11.1 million)
· Year end committed order book GBP301.1 million (GBP206.9 million excluding EuroChem contract)
· Strong tender pipeline
· Safety statistics improved

BFN
Roger Williams, Non Executive Director, bought 50,000 shares in the company on the 24th April 2012 at a price of 82.00p. The Director now holds 50,000 shares.

Nicely through the 200 DMA. Hoping for a pause for breath to establish a nice base for future support.