Mouchel loses 95% of value in a year
Mouchel’s share price has sunk to an all time low since the company floated on the London Stock Exchange 10 years ago.
This week the share price dipped to just 3 pence, down from 60p a year ago, reducing the company’s value by 95% in a year. Now the whole company is worth less than £4m.
Price at flotation in July 2002 was 139p. The price reached 470p in May 2008 before global economic decline set in in later that year.
Over the past 18 months the consulting engineer to outsourcing group has spurned rescue bids from both Costain and Interserve, worth 153.2p and 135p per share respectively, and changed its management team.
The company has been looking at a way to restructure, with going into administration still an option. CEO Grant Rumbles said last week that “we remain on track to announce [the chosen restructuring solution] by our financial year end on 31 July 2012”.
On the day before that announcement, the company was worth twice what it is today and the share price was close to 6p.
- Click here to return to the previous page
- Subscribe to our free construction newsletters
- Buy & Sell Construction Plant Machinery online with TCiTrader.co.uk. Find new, used & reconditioned Construction Equipment. Click here to view Construction Equipment Classifieds.
Download our free construction news iPhone / iPad app. Sign up to our FREE email newsletters or subscribe to our RSS feed for regular updates on the latest Construction News, Plant News, Contract News & Supplier News. The Construction Index also provides the latest Construction Tenders, Construction Market Data & Construction Law Commentary all FREE.
This article was published on 22 Jun 2012 (last updated on 22 Jun 2012).