Market cap $228.4M according to Hot Copper.
Inclusive of fact that on September 21 RCR raised $100M and scored $25M in working capital.
As at EOFY - an order book of 1.07 Billion
Preferred contractor status of 2.7Billion
Major costs write down of $57 million on Daydream and Hayman solar farm projects and whatever else .
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvSDYL4g66wBb/v+V67bFiGug=
Since the cap raise :
Perpetual increased its holding from 12,31% to 13.87%
Pendal reduced from 10.27% to 9.09%
Tribeca dropped out
Allan Gray came on board with an initial 5.32% which it increased to 6.77%
A director grabbed 50,000 shares for $46,450.10 (92c each)
RCR confirmed it’s at next stage of important Auckland rail project https://www.asx.com.au/asxpdf/20181011/pdf/43z4mjltb8m0yp.pdf
“RCR is very pleased to be recognised for our exceptional rail systems capability and to be selected for this portion of such a landmark project for Auckland.
RCR has a long history in the rail sector and this project is strategically significant in extending our capabilities in New Zealand...”
RCR secured early contractor involvement here https://www.energyaustralia.com.au/...lant-could-supply-40000-homes-create-300-jobs
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvSDYL4g+9yhT3v+V67bFiGug=
What next?
According to the Australian on September 7 , “some” in the market have the feeling Downer thinks buying RCR is a good idea.
https://www.theaustralian.com.au/bu...n/news-story/92bbfcc5e153804f2f6bcd284de184bd
..”A takeover bid by the $4.63 billion services group Downer, subject to due diligence, could make sense.
Despite RCR’s problems, it has solid recurring income and would have contracts that Downer would want, to boost its own level of work in hand.
The difficulty for Downer would be if RCR Tomlinson’s problems extend beyond one project, which is why any potential takeover would require a great deal of scrutiny up front...”
The story wonders about private equity also wanting RCR then goes on to have a strangely accurate little think about Worley Parsons. ie ”What it (WP) could acquire remains unclear, but the general consensus is that it would probably buy a company based overseas.”
FWIW that prediction came true last week https://www.theaustralian.com.au/bu...s/news-story/25daca87004789578422add5c8456acf
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