Chamberlin (CMH)

Sector:

Engineering

Index:

FTSE AIM All-Share

1.65p
   
  • Change Today:
    -0.050p
  • 52 Week High: 4.10
  • 52 Week Low: 1.55
  • Currency: UK Pounds
  • Shares Issued: 179.35m
  • Volume: 105,697
  • Market Cap: £2.96m
  • RiskGrade: 211

Chamberlin raises £3.5m, carries on with cost-cutting programme

By Iain Gilbert

Date: Friday 26 Mar 2021

LONDON (ShareCast) - (Sharecast News) - Castings and engineering group Chamberlin said on Friday that it has conditionally raised approximately £3.5m thanks to a placing of 40.83m new ordinary shares at a price of 6.0p per share with both institutional and other investors and a subscription for 17.5m new ordinary shares at the placing price by non-executive director Trevor Brown.
Chamberlin noted that the placing price represented a discount of 14.3% to the closing middle market price of 7.0p per ordinary share on 31 December 2020, immediately prior to the suspension of its shares from trading on the London Stock Exchange.

The AIM-listed group said it had been "rigorously investigating" the possibility of new equity capital and alternative measures to ensure its future, fund working capital and meet restructuring costs.

As a result of the placing and subscription, Chamberlin believes that it will be able to demonstrate to its auditor and creditors that the company will now able to continue to trade on a going concern basis in order to be able to publish and file its annual audited accounts for the year ended 31 March 2020, publish its interim results for the six months ended 30 September 2020 and apply for the suspension of trading to be lifted.

However, Chamberlin stated there can be "no guarantee" that any of these events will occur, given the company remains subject to such third parties' completing their own procedures and protocols.

In terms of recent trading, Chamberlin added that sales for the 11 months to 28 February were £20.6m, down from £23.9m a year earlier, and stated the group was loss-making over the period.

The firm also stated it was continuing with its cost reduction programme, cutting its overall headcount to 138 and saving approximately £3.4m in the process, with further measures still planned.

As of 1330 GMT, Chamberlin shares were untraded at 7.0p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Chamberlin Market Data

Currency UK Pounds
Share Price 1.65p
Change Today -0.050p
% Change -2.94 %
52 Week High 4.10
52 Week Low 1.55
Volume 105,697
Shares Issued 179.35m
Market Cap £2.96m
RiskGrade 211

Chamberlin Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
0.53% above the market average0.53% above the market average0.53% above the market average0.53% above the market average0.53% above the market average
23.53% above the sector average23.53% above the sector average23.53% above the sector average23.53% above the sector average23.53% above the sector average
Price Trend
80.69% below the market average80.69% below the market average80.69% below the market average80.69% below the market average80.69% below the market average
82.86% below the sector average82.86% below the sector average82.86% below the sector average82.86% below the sector average82.86% below the sector average
Income Not Available
Growth
27.71% below the market average27.71% below the market average27.71% below the market average27.71% below the market average27.71% below the market average
27.27% below the sector average27.27% below the sector average27.27% below the sector average27.27% below the sector average27.27% below the sector average

Chamberlin Dividends

  Latest Previous
  Final Final
Ex-Div n/a 03-Jul-13
Paid n/a 26-Jul-13
Amount 0.000p 2.00p

Trades for 28-Mar-2024

Time Volume / Share Price
15:59 45,197 @ 1.66p
12:28 60,000 @ 1.69p
08:20 500 @ 1.60p

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