The Lamprell Group has played an important role in the development of the offshore industry in the Arabian Gulf for over 30 years, providing increasingly specialised services to the offshore oil industry. Lamprell is managed by British nationals, with its corporate headquarters in Sharjah, one of the United Arab Emirates, Lamprell operates a full service jackup rig refurbishment facility in Sharjah and a modern, well equipped fabrication facility in Jebel Ali Free Zone, Dubai.

Lamprell located in the most important oil and gas region in the world, in one of the key commercial centres in the UAE.

Lamprell has its own core skilled and experienced workforce as well as access to additional skilled labour from the local labour supply market.


AIM Rule 26 Disclosure

This, in addition to the Group�s safety focused culture and experienced project management skills, helps to ensure customer satisfaction is maximised whilst risks are reduced.

Lamprell has built up its strong market position by offering a differentiated service to its clients based on safe working practices and completing projects on time, on budget and to a high quality. Accordingly, we believe that the Company has established a position of sustainable competitive advantage in the region.

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Prudential 11% --> 12%

Prudential 12.12%

Presumably the Pru holding has increased due to the take up of the RI?

Result of Equity Issue

Results of the Rights Issue

Lamprell, a leading provider of specialist engineering services to the international oil & gas and renewable industry, is pleased to announce that the 5 for 16 Rights Issue of 81,363,469 New Ordinary Shares at 88 pence per New Ordinary Share announced on 16 May 2014 closed for acceptances at 11.00 a.m. (UK time) on 25 June 2014. The Company received valid acceptances in respect of 78,528,325 New Ordinary Shares, representing approximately 96.52 per cent. of the total number of New Ordinary Shares to be issued pursuant to the fully underwritten Rights Issue.

It is expected that the New Ordinary Shares in uncertificated form will be credited to CREST accounts of Qualifying CREST Shareholders as soon as practicable after 8.00 a.m. (UK time) on 26 June 2014 and that definitive share certificates in respect of New Ordinary Shares in certificated form will be dispatched to Qualifying non-CREST Shareholders by no later than 10 July 2014.

It is expected that the New Ordinary Shares will commence trading, fully paid, on the London Stock Exchange plc's main market for listed securities today, 26 June 2014, at 8.00 a.m. (UK time).

In accordance with their obligations as Joint Bookrunners and Underwriters in respect of the Rights Issue pursuant to the Underwriting Agreement, J.P. Morgan Securities plc (which conducts its UK investment banking business as J.P. Morgan Cazenove) and HSBC Bank plc will endeavour to procure subscribers for the remaining 2,835,144 New Ordinary Shares not validly taken up in the Rights Issue, failing which J.P. Morgan Securities plc and HSBC Bank plc have agreed to acquire, on a several basis, any remaining New Ordinary Shares.

The net proceeds from the placing of such New Ordinary Shares (after the deduction of the Issue Price of 88 pence per New Ordinary Share and the expenses of procuring subscribers including any applicable brokerage and commissions and amounts in respect of VAT) will be paid (without interest) to those persons whose rights have lapsed in accordance with the terms of the Rights Issue, pro rata to their lapsed provisional allotments, save that individual amounts of less than £5.00 will not be paid to such persons but will be paid to the Company.

A further announcement as to the number of New Ordinary Shares for which subscribers have been procured will be made in due course.

For full details of the Rights Issue, please refer to the prospectus relating to the Company dated 16 May 2014 (the "Prospectus") which is available for inspection on the Company's website at www.lamprell.com and at the Company's registered office at Fort Anne, Douglas, IM1 5PD, Isle of Man, save that the Prospectus is not available, whether through the website or otherwise, subject to certain exceptions, to person located in the Excluded Territories.

Unless otherwise defined herein, capitalised terms used in this announcement shall have the meanings given to such terms in the Prospectus.

Results of Rump Placing

Lamprell, a leading provider of specialist engineering services to the international oil & gas and renewable industry, is pleased to announce that the 5 for 16 Rights Issue of 81,363,469 New Ordinary Shares at 88 pence per New Ordinary Share announced on 16 May 2014 closed for acceptances at 11.00 a.m. (UK time) on 25 June 2014. The Company received valid acceptances in respect of 78,528,325 New Ordinary Shares, representing approximately 96.52 per cent. of the total number of New Ordinary Shares to be issued pursuant to the fully underwritten Rights Issue.

Following the announcement earlier today by Lamprell regarding valid acceptances in respect of 78,528,325 New Ordinary Shares, representing approximately 96.52 per cent. of the total number of New Ordinary Shares offered to Qualifying Shareholders pursuant to the 5 for 16 fully underwritten Rights Issue, the Company announces that J.P. Morgan Securities plc (which conducts its UK investment banking business as J.P. Morgan Cazenove) and HSBC Bank plc, in their capacity as Joint Bookrunners and Underwriters, have procured subscribers for the remaining 2,835,144 New Ordinary Shares not validly taken up in the Rights Issue, representing 3.48 per cent. of the New Ordinary Shares, at a price of 146 pence per New Ordinary Share.

The net proceeds from the placing of such New Ordinary Shares (after the deduction of the Rights Issue Price of 88 pence per New Ordinary Share and the expenses of procuring subscribers) will be paid to those persons whose rights have lapsed in accordance with the terms of the Rights Issue, pro rata to their lapsed provisional allotments, save that individual amounts of less than £5.00 will not be paid to such persons but will be paid to the Company.

Accordingly, neither the Underwriters nor the sub-underwriters will be required to subscribe for any New Ordinary Shares.

For full details of the Rights Issue, please refer to the prospectus relating to the Company dated 16 May 2014 (the "Prospectus") which is available for inspection on the Company's website at www.lamprell.com and at the Company's registered office at Fort Anne, Douglas, IM1 5PD, Isle of Man, save that the Prospectus is not available, whether through the website or otherwise, subject to certain exceptions, to person located in the Excluded Territories.

Unless otherwise defined herein, capitalised terms used in this announcement shall have the meanings given to such terms in the Prospectus.

Nomura Buy 153.50 153.50 135.00 185.00 Upgrades

Pre-close Trading Statement

Lamprell (ticker: LAM), a leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries, issues the following pre-close trading update for the six months to 30 June 2014.

The Group has seen strong operational and financial performance since the start of 2014 with the delivery of four major projects in H1. The Company has also been successful in converting its bid pipeline with two rig orders from Ensco and Shelf Drilling respectively and the recent contract award from Petrofac for modules to be deployed in Abu Dhabi.

Operational performance is being driven by a number of factors, notably the strong project execution in all four of the major projects delivered in H1 2014, which has resulted in those projects being delivered ahead of budgeted margins. This has also been supported by some early savings from productivity improvements being implemented across the Group. As announced previously, we expect to start seeing the benefits from these initiatives during the course of 2014 although the full run rate is not anticipated to be achieved until late 2015. We have also seen improved performance in 1H 2014 in our land rig services business.

In addition to this strong operational performance, we have taken steps to reduce our overheads following the delivery of the four major projects earlier this year and we continue to look for opportunities to reduce them further.

During the period, the Group has successfully completed the Rights Issue announced on 16 May 2014, and expects to complete the associated debt refinancing during the course of July.

As a result of the above, the Company now expects earnings for the year as a whole to be ahead of expectations although this will be heavily weighted towards the first half of the year. Our bid pipeline remains strong and we remain focused on the conversion of our pipeline of opportunities into further contract wins.


- Ends -

Investec Hold 157.13 155.50 155.00 160.00 Reiterates

Director/PDMR Shareholding

I'm aiming for somewhere around the 170p-175p level, so the brokers can put what they like!

Pru from 12% --> 11%

Lamprell (ticker: LAM), a leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries, will announce its interim financial results for the period ended 30 June 2014 on Thursday 28 August 2014.

Sp holding up well considering the current market conditions. Hoping for a gentle rise before the results and am thinking of taking profit then. Not much to come from LAM after the 28th, so would then expect the sp to drift.

Completion of debt refinancing

Lamprell (ticker: LAM), a leading provider of diversified engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries, is pleased to announce that, further to its announcement on 16 May 2014 that the Group had signed a commitment letter and detailed heads of terms in respect of a new secured banking arrangement, yesterday it signed a definitive agreement with the lenders for the syndicated facility.

Drawdown is expected to take place shortly. The agreement remains subject to certain conditions subsequent which Lamprell anticipates being satisfied in the next few weeks. The new arrangements will replace the Group's existing funded facilities with a US$350 million facility, comprising a US$ 100 million term loan, US$ 50 million for general working capital purposes and US$ 200 million of working capital for project financing. In addition, the lending banks have agreed to arrange a committed US$ 250 million bonding facility which may be used by the Group for project bonding requirements in connection with new contract awards.

Another few pence and am tempted to move on from LAM. Seems to be a bit stuck in this range.

Interims tomorrow Harry.

Which could be either good or bad for the sp! Decisions....decisions...

Interim Financial Results

Financial highlights
· Results for the first half of 2014 ahead of expectations due to strong operational performance and early results from savings initiatives, generating improved margins
· Revenues are up by US$ 125.7 million against H1 2013 as a result of the high H1 activity levels and phasing of construction activity during the period
· Successful rights issue and refinancing provides a strong financial platform and enables delivery of long-term growth strategy

Operational highlights
· Strong operational performance in all core markets enhances Lamprell's track record for project execution
· Successful delivery of two jackup rigs to National Drilling Company, the 13,200 tonne production utilities and quarters deck to Nexen for use in North Sea sector and a new self-propelled jackup vessel to Seajacks
· Largest and one of the most complex rig conversion and refurbishment projects in Lamprell's history delivered to the client after the period end
· Over US$ 900 million of new awards since January 2014 including multi-rig awards from each of Ensco and Shelf Drilling, as well as an award from Petrofac for modules to be deployed in Abu Dhabi
· As at 30 June 2014, backlog of US$ 1.2 billion (31 December 2013: US$ 0.9 billion) with bid pipeline increasing to approximately US$ 4.9 billion (31 December 2013: US$ 4.7 billion)
· World class safety record continues on various projects including ten million manhours without a lost-time incident on Nexen project
· Project Evolution, a programme to deliver material productivity improvements and cost efficiencies, is progressing well and generating some early returns

Current trading and outlook
· Five new build jackup drilling rigs to be delivered between November 2014 and March 2015
· Order book rebuilt and now extending out to Q2 2017
· Continued strong demand for our core markets as demonstrated by increased bid pipeline
· All ongoing major projects progressing well
· Revenue expectations for FY 2014 unchanged; lower revenue levels expected in H2 2014 compared to H1 2014 due to timing of build cycles and reduced activity in onshore and offshore construction market
· Full year outturn anticipated to be ahead of expectations predominantly due to projected continuing strong operational performance and initial savings from procurement activities
· As previously announced, revenue for FY2015 expected to be broadly flat on FY2014 with significantly fewer major project completions in FY2015
· Drive to target further reductions in overheads

I had a sell on at 162p and it has triggered, so out for now.
The RI shares at 88p have helped greatly!