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| Date/Time | Headline | Source |
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| 02-11-09 | RNS |
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RNS Number : 6553B AIM 02 November 2009
NOTICE (759) 02/11/2009 7:00am
CANCELLATION OF ADMISSION OF SECURITIES TO TRADING ON AIM BATEMAN LITWIN N.V. At the request of the company, trading on AIM for the under-mentioned securities have been cancelled from 02/11/2009 7:00am.
Ordinary Shares of EUR0.10 each (B126BG5)(NL0000683829)
If you have any queries relating to the above, please contact the company's nominated adviser on 020 7888 8888.
AIM REGULATION Ref: AIMNOT759 This information is provided by RNS The company news service from the London Stock Exchange END
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| 30-10-09 | RNS |
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RNS Number : 7200B Bateman Litwin N.V. 30 October 2009 A second and final Price Monitoring Extension has been activated in this security. The closing auction call period is extended in this security for a further 5 minutes. Following the first price monitoring extension this security would still execute more than a pre-determined percentage above or below the price of the previous automated execution today. London Stock Exchange electronic order book users have a final opportunity to review the prices and sizes of orders entered in this security prior to the auction call execution which will set today's closing price. The applicable percentage is set by reference to a security's TradElect sector. This is set out in the Sector Breakdown tab of the TradElect Parameters document at www.londonstockexchange.com/en-gb/products/membershiptrading/tradingservices</f ipP> This information is provided by RNS The company news service from the London Stock Exchange END
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| 30-10-09 | RNS |
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RNS Number : 7195B Bateman Litwin N.V. 30 October 2009 Today's closing auction call period has been extended in this security by 5 minutes. Auction call extensions give London Stock Exchange electronic order book users a further opportunity to review the prices and sizes of orders entered in an individual security during the initial auction call before the execution occurs. A price monitoring extension is activated when the matching process would have otherwise resulted in an execution price that is a pre-determined percentage above or below the price of the last automated execution today. The applicable percentage is set by reference to a security's TradElect sector. This is set out in the Sector Breakdown tab of the TradElect Parameters document at www.londonstockexchange.com/en-gb/products/membershiptrading/tradingservices</f ipP> This information is provided by RNS The company news service from the London Stock Exchange END
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| 23-10-09 | RNS |
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RNS Number : 3005B Bateman Litwin N.V. 23 October 2009 Bateman Litwin N.V. ("Bateman Litwin" or the "Company") Result of EGM Amsterdam, The Netherlands, 23 October 2009 - Bateman Litwin N.V. announces that at the Extraordinary General Meeting ("EGM") held today, the resolution set out in the circular to shareholders dated 5 October 2009 to approve the cancellation of admission to trading on AIM of the Company's ordinary shares (the "Resolution") was passed by shareholders. At the EGM, 99 per cent of shareholders (whether present in person or by proxy) voted in favour of the Resolution, satisfying the 75 per cent requirement. Accordingly, the last day of trading of Bateman Litwin shares on the AIM market is expected to be 30 October 2009 and cancellation of admission of the Company's ordinary shares of EUR 0.10 each to trading on AIM is expected to occur with effect from 7.00 a.m. GMT (8.00 am CET) on 2 November 2009.
Enquiries:
David Lamont, Chief Executive Officer Davis Larssen, Chief Financial Officer Ingrid Boon, Investor Relations Manager
Nominated adviser and joint broker Jon Grussing Will MacLaren
Joint broker Richard Crawley About Bateman Litwin N.V. Bateman Litwin is a supplier of technology, engineering, procurement and project management services to the world's energy and resource industries. To find out more, visit Bateman Litwin at: www.bateman-litwin.com This information is provided by RNS The company news service from the London Stock Exchange END
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| 07-10-09 | RNS |
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RNS Number : 3961A Bateman Litwin N.V. 07 October 2009 Bateman Litwin N.V. ("Bateman Litwin" or the "Company") Notification of shareholding Amsterdam, The Netherlands 7 October 2009 - Bateman Litwin was notified on 7 October 2009 that its majority shareholder, Bateman B.V., an affiliate of BSG Resources Limited has purchased 13,444,190 ordinary shares at a price of 2.5 pence per share. Following this purchase, Bateman B.V. holds 85,503,692 ordinary shares in the Company representing 69.69% of the Company's issued share capital.
Enquiries:
David Lamont, Chief Executive Officer Davis Larssen, Chief Financial Officer Ingrid Boon, Investor Relations Manager
Nominated adviser and joint broker Jon Grussing Will MacLaren
Joint broker Richard Crawley This information is provided by RNS The company news service from the London Stock Exchange END
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| 05-10-09 | RNS |
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RNS Number : 1968A Bateman Litwin N.V. 05 October 2009 Bateman Litwin N.V. ("Bateman Litwin" or the "Company") Proposed Cancellation of AIM Admission and Notice of EGM Amsterdam, The Netherlands 5 October 2009 - Bateman Litwin announces that the Board has been approached by its majority shareholder, Bateman B.V., an affiliate of BSG Resources Limited, to consider the cancellation of the Company's admission to trading on AIM. Bateman B.V. further requested that an extraordinary general meeting be called at which shareholders can vote on a resolution for the Cancellation. The EGM will be held on Friday 23 October 2009 at 11.30 a.m. CEST (10.30 a.m. BST) at Haaksbergweg 59, 1101 BR Amsterdam Zuidoost, The Netherlands. At the EGM, a resolution will be proposed to approve the cancellation of admission to trading on AIM of the Company's Ordinary Shares. A circular convening the EGM will be posted shortly to shareholders. At the same time, copies of the circular will be made available on the Company's website www.bateman-litwin.com. The Resolution will require approval by not less than 75 per cent of the votes cast by Shareholders who are present either in person or by proxy and who vote at the EGM. If the Resolution is passed, the Cancellation is expected to become effective from Monday 2 November 2009 and the last day of trading on AIM is expected to be Friday 30 October 2009. Background to the proposal for the Cancellation and the requisitioning of the EGM The letter from Bateman B.V. included the following reasons why it considers that it is no longer in the Company's best interests to maintain its AIM quotation:
Bateman B.V.'s intention is to vote in favour of the Cancellation in respect of all of its interests in Ordinary Shares of the Company, amounting to 58.73 per cent. of the Company's Existing Issued Share Capital. Furthermore, pursuant to the transaction announced by the Company on 30 September 2009 regarding the issue of US$1.5 million worth of ordinary shares to Bateman B.V., the Board of Bateman Litwin agreed to vote employees' shares held in trust in favour of any vote proposed to cancel the Company's admission to trading on AIM (currently amounting to 5,018,776 shares or 4.09 per cent. of the Company's Existing Issued Share Capital). In accordance with Rule 41 of the AIM Rules, the Company has notified the London Stock Exchange of the proposed Cancellation, which is conditional upon not less than 75 per cent of the votes cast by Shareholders, who are present either in person or by proxy and who vote at the EGM, being in favour of the Resolution. Effects of the Cancellation Following the proposed Cancellation, there would be no market facility for dealing in the Ordinary Shares or Depositary Interests and no price would be publicly quoted. As such, it would be difficult to place a fair value on the Ordinary Shares or Depositary Interests and their liquidity would be limited generally. The Directors are aware that Shareholders and Depositary Interest Holders may still wish to acquire or dispose of Ordinary Shares or Depositary Interests. If the Cancellation becomes effective, the Directors intend to make available a new matched bargain service. Under this facility Shareholders, Depositary Interest Holders and persons wishing to acquire or sell Ordinary Shares or Depositary Interests would be able to leave an indication with the matched bargain settlement facility provider ("Matcher") that they are prepared to buy or sell at an agreed price. If the Matcher is able to match that order with an opposite sell or buy instruction, the Matcher would contact both parties and then effect the order. If the Cancellation becomes effective, Shareholders and Depositary Interest Holders will need to have their own broker and will need to register with the Matcher as a new client. This can take some time to process and, therefore, should the Cancellation become effective, Shareholders and Depositary Interest Holders who consider they are likely to avail themselves of this facility are encouraged to commence registration at the earliest opportunity. The contact details of the Matcher, once arranged, will be made available on the Company's website at www.bateman-litwin.com. However, there can be no certainty as to the length of time this facility would remain available. It is the Board's current intention that, should the Cancellation become effective, the Company would continue to maintain the Depositary Interests arrangements, such that any transactions in the Depositary Interests that are effected may be settled through CREST. Once again, there can be no certainty as to the length of time these arrangements would remain available.
Expected timetable of events for Cancellation
for the EGM
the EGM
trading on AIM of the Ordinary (07:00 a.m. GMT) on Monday 2 November
Enquiries:
David Lamont, Chief Executive Officer Davis Larssen, Chief Financial Officer Ingrid Boon, Investor Relations Manager
Nominated adviser and joint broker Jon Grussing Will MacLaren
Joint broker Richard Crawley
The following definitions apply to this document unless the context requires otherwise:
'Depositary Interest Holders' holders of Depositary Interests
About Bateman Litwin N.V. Bateman Litwin is a supplier of technology, engineering, procurement and project management services to the world's energy and resource industries. To find out more, visit Bateman Litwin at: www.bateman-litwin.com This information is provided by RNS The company news service from the London Stock Exchange END
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| 02-10-09 | RNS |
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RNS Number : 1841A Bateman Litwin N.V. 02 October 2009 Today's closing auction call period has been extended in this security by 5 minutes. Auction call extensions give London Stock Exchange electronic order book users a further opportunity to review the prices and sizes of orders entered in an individual security during the initial auction call before the execution occurs. A price monitoring extension is activated when the matching process would have otherwise resulted in an execution price that is a pre-determined percentage above or below the price of the last automated execution today. The applicable percentage is set by reference to a security's TradElect sector. This is set out in the Sector Breakdown tab of the TradElect Parameters document at www.londonstockexchange.com/en-gb/products/membershiptrading/tradingservices</f ipP> This information is provided by RNS The company news service from the London Stock Exchange END
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| 30-09-09 | RNS |
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RNS Number : 9336Z Bateman Litwin N.V. 30 September 2009 Bateman Litwin N.V. ("Bateman Litwin" or the "Company") Issuance of New Equity and Related Party Transaction Amsterdam, The Netherlands 30 September 2009 - Further to the trading update of 23 September 2009, Bateman Litwin N.V. announces that it has agreed to issue US$1.5 million worth of ordinary shares to Bateman B.V., an affiliate of BSG Resources Limited, the Group's major shareholder, at a price of 10 euro cents per share (the "Transaction"). This is equivalent to approximately 9.1 pence per share resulting in proceeds of approximately £940,000. As described in the press release dated 23 September 2009, the Group's cash position is a critical focus for Management and the Board. The receipt of US$1.5 million will allow the Company to meet immediate financing needs. Bateman Litwin's directors, with the exception of Peter Blauw and David Granot, who are involved in the Transaction as representatives of the related party, consider, having consulted with the Company's nominated adviser, that the terms of the Transaction are fair and reasonable insofar as its shareholders are concerned. Under the terms of the Transaction, Bateman B.V. is advancing to the Company US$1.5 million pending closing of the Transaction. The exact number of shares to be issued will depend on the euro/US dollar exchange rate on the day of closing. BSG Resources Limited also requested that the Board of Bateman Litwin confirms that it will vote the employees' shares held in trust on the day of any such vote (which today currently stands at 5,018,776 shares) in favour of the Company's cancellation of admission to trading on AIM if such a request is raised at an extraordinary general meeting and the Board of Bateman Litwin has agreed to this request. The Transaction is in accordance with Bateman Litwin's articles of association. At the Company's Annual General Meeting ("AGM") on 19 December 2008, a special resolution was passed allowing directors authority to allot equity securities for cash without offering those equity securities pro rata to existing shareholders up to an aggregate nominal amount of EUR1,124,030 representing 10 per cent of the Company's issued ordinary share capital as at the date of the AGM.
Enquiries:
David Lamont, Chief Executive Officer Davis Larssen, Chief Financial Officer Ingrid Boon, Investor Relations Manager
Nominated adviser and joint broker Jon Grussing Will MacLaren
Joint broker Richard Crawley About Bateman Litwin N.V. Bateman Litwin is a supplier of technology, engineering, procurement and project management services to the world's energy and resource industries. To find out more, visit Bateman Litwin at: www.bateman-litwin.com This information is provided by RNS The company news service from the London Stock Exchange END
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| 25-09-09 | RNS |
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RNS Number : 7133Z Bateman Litwin N.V. 25 September 2009 A second and final Price Monitoring Extension has been activated in this security. The closing auction call period is extended in this security for a further 5 minutes. Following the first price monitoring extension this security would still execute more than a pre-determined percentage above or below the price of the previous automated execution today. London Stock Exchange electronic order book users have a final opportunity to review the prices and sizes of orders entered in this security prior to the auction call execution which will set today's closing price. The applicable percentage is set by reference to a security's TradElect sector. This is set out in the Sector Breakdown tab of the TradElect Parameters document at www.londonstockexchange.com/en-gb/products/membershiptrading/tradingservices</f ipP> This information is provided by RNS The company news service from the London Stock Exchange END
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| 25-09-09 | RNS |
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RNS Number : 7122Z Bateman Litwin N.V. 25 September 2009 Today's closing auction call period has been extended in this security by 5 minutes. Auction call extensions give London Stock Exchange electronic order book users a further opportunity to review the prices and sizes of orders entered in an individual security during the initial auction call before the execution occurs. A price monitoring extension is activated when the matching process would have otherwise resulted in an execution price that is a pre-determined percentage above or below the price of the last automated execution today. The applicable percentage is set by reference to a security's TradElect sector. This is set out in the Sector Breakdown tab of the TradElect Parameters document at www.londonstockexchange.com/en-gb/products/membershiptrading/tradingservices</f ipP> This information is provided by RNS The company news service from the London Stock Exchange END
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| 23-09-09 | AFX UK Focus |
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* Says gets waivers for breach of covenants * Sees decline in FY revenue * Shares fall as much as 33 pct (Adds details)
Bateman Litwin provides technology, engineering, procurement and project management services to the global oil and gas, power, renewable energy, minerals and process industries. Bateman Litwin said it expected full-year revenue to fall to $760 million from $816.1 million in the previous year.
The company said it expected full-year reported EBITDA (earnings before interest, taxes, depreciation and amortization) margin, including exceptional items, between 0 and -1 percent, reflecting an improvement in the second-half performance resulting from cost cuts and better project execution.
Bateman Litwin shares were down 15.15 percent at 14 pence at 1137 GMT. They touched a low of 11 pence earlier in the session. (Reporting by Kumar Alagappan in Bangalore; Editing by Unnikrishnan Nair) Keywords: BATEMANLITWIN/ (kumar.alagappan@thomsonreuters.com; +44 20 75427717; Reuters Messaging: kumar.alagappan@thomsonreuters.com)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. More |
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| 23-09-09 | RNS |
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RNS Number : 5179Z Bateman Litwin N.V. 23 September 2009 Bateman Litwin N.V. ("Bateman Litwin" or the "Group") Trading update and Possible Disposal of Assets 23 September 2009 Trading Update For the year ended 30 June 2009, Group revenue is expected to be circa US$760 million. The backlog as of 30 June 2009 was approximately US$735 million. This has since reduced mainly due to ongoing project execution, but also as a result of a suspended contract. Thus as of 31 August 2009 the Group's backlog was approximately US$570 million. The Board previously stated, with the publication of the Group's half year results on 31 March 2009 that it was targeting a reported EBITDA (including exceptional items) at the breakeven level for the year ended 30 June 2009. The Board can confirm that it expects a reported EBITDA margin (including exceptional items) of between zero and minus one per cent for the full year. This reflects an improvement in the second half performance of the financial year (1H 2008/09: reported EBITDA loss of US$10.2 million). The progress is a result of cost cutting and better project execution. Furthermore, Delta-T has effectively completed all legacy projects. The Group has now delivered six consecutive months of positive EBITDA (including exceptional items), although the Board is not satisfied with the Group's overall level of financial performance. Exceptional charges for the year ending 30 June 2009 are likely to be in the region of US$50 million before tax (1H 2008/09: US$34.5 million; FY 2007/08: US$88.2 million). Of these charges approximately US$25 million relates to operating exceptional charges (1H 2008/09: US$13.6 million; FY 2007/08: US$68.8 million) while the remaining US$25 million relates to non cash hedging and goodwill impairment charges (1H 2008/09: US$20.9 million; FY 2007/08: US$19.4 million). While progress has been made on the major oil and gas legacy project in the Former Soviet Union, there is as yet no definitive agreement with the client over legacy and forecast cost overruns. Negotiations are continuing, although until successfully concluded, this matter presents an ongoing and significant risk to the Group's cash and overall financial position. As of 30 June 2009 the Group had free cash (after restricted cash) of circa US$32 million (FY 2007/08: US$69.8 million), however, the Group's gross debt position increased to approximately US$89 million (FY 2007/08: US$46.7 million). Our banks remain generally supportive as evidenced by the Group successfully gaining waivers for loan covenants that were in breach. The Group's cash position is a critical focus for Management and the Board. In this regard, a loan has been provided by Bateman Engineering N.V. a subsidiary of BSG Resources Ltd, the Group's major shareholder. The loan is for US$5 million over a three-month period and relates to one of the potential sales as described under Possible Disposal of Assets below. Bateman Litwin's directors, with the exception of Peter Blauw and David Granot, who are involved in the transaction as a related party, consider, having consulted with its nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned. Any sale transaction, if concluded, would be a related party transaction under AIM rules and would also be subject to a fairness opinion. In addition, the Group is in final negotiations to secure further short-term financing. While Management and the Board remain focused on managing near term liquidity, the new business pipeline is showing an increase in enquiries and interest. The Group has seen a notable increase in the award of smaller feasibility and engineering studies, which Management and the Board believe is a sign of firming activity. Possible Disposal of Assets The Group is reviewing potential disposals of one or more parts of the business. To this extent, the Board has received several indicative proposals for various units of the business. Discussions are ongoing with a number of parties but there can be no guarantee that any divestment will result.
Enquiries:
David Lamont, Chief Executive Officer Davis Larssen, Chief Financial Officer Ingrid Boon, Investor Relations Manager
Nominated adviser and joint broker Jon Grussing Will MacLaren
Joint broker Richard Crawley About Bateman Litwin N.V. Bateman Litwin is a supplier of technology, engineering, procurement and project management services to the world's energy and resource industries. To find out more, visit Bateman Litwin at: www.bateman-litwin.com
This information is provided by RNS The company news service from the London Stock Exchange END
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