Plexus raises £6m to help it through downturn
13th Jun 2016 16:20
(ShareCast News) - Oil and gas engineering services business Plexus Holdings announced on Monday it has agreed the terms of a conditional placing to raise £6m before expenses, by way of a placing of 9,230,770 new ordinary shares at a price of 65p each to new and existing investors. The AIM-traded fi
Read morePlexus plummets again despite Russian licensing deals
26th Jan 2016 10:18
(ShareCast News) - Shares in Plexus Holdings followed their sizeable fall on Monday with a further 20% decline on Tuesday morning, despite announcing it will license-out its technology to two Russian oil drilling equipment manufacturers. In what is said was a "significant strategic milestone", Plexu
Read morePlexus plunges after major profit warning
25th Jan 2016 10:07
(ShareCast News) - Shares in Plexus Holdings sank like a stone after the oil drilling innovator warned profits would be "very significantly" below forecasts after a major slowdown in customers' planned activity, mainly in the North Sea. With projects being delayed, postponed or cancelled, Plexus sai
Read morePlexus wins Oman drilling contract
20th Jan 2016 10:03
(ShareCast News) - Oil services company Plexus Holdings said it had won a $0.6m contract with Oman's Masirah Oil to drill one well initially with the option of two more. The company on Wednesday said the deal was its first in the country. "This new contract in a new territory with a new customer re
Read morePlexus Holdings wins Malaysia manufacturing licence
14th Jul 2015 09:37
(ShareCast News) - UK-based Plexus Holdings has received the green light to manufacture and supply its POS-GRIP wellhead equipment in Malaysia. The AIM-listed group, which is engaged in marketing its safer method of engineering for oil and gas field wellheads and connectors, said its Plexus Products
Read morePlexus inks agreement with major Chinese player
2nd Jul 2015 08:56
Oil and gas engineering firm Plexus has finalised a licence agreement with Shenzhen stock exchange listed Yantai Jereh Oilfield Services Group, the company said on Thursday. Plexus said the contract with Yantai Jereh, which gave it an exclusive licence in China, was a milestone for the company. The
Read morePlexus Holdings subsidiary sells non-core holding to KSW Engingeering
26th Jun 2015 12:25
Plexus Holdings announced that its Afrotel Corp subsidiary has sold its sole asset, a 25% holdings in KSW Engineering, a manufacturer and engineer of oil and gas equipment. The oil and gas services company said the sale of the non-core holding will raise £1.5m, which will fund its expansion strategy
Read morePlexus Holdings wins £3.3m contract with Total
15th Jun 2015 08:12
Oil and gas engineering group Plexus Holdings has secured a £3.3m deal with oil group Total E&P Norge. Under the deal, the London-listed company will supply its POS-GRIP wellhead systems, equipment and mudline services for Total's Solaris gas exploration well in the Graben area of the North Sea, off
Read morePlexus jumps on Chinese framework agreement
26th Mar 2015 08:37
Shares in Plexus Holding jumped on Thursday after the oil and gas engineering services group said it had entered a framework agreement with major Chinese group Yantai Jereh Oilfield Services. Yantai, a provider of integrated solutions of oilfield equipment and services, has agreed to move towards a
Read moreTuesday broker round-up
26th Aug 2014 10:16
Bioquell: N+1 Singer upgrades from hold to buy with an unchanged target price of 112p. Investec cuts target price from 133p to 98p, while upgrading from hold to add. Circle Oil: Investec moves target price from 50p to 70p and maintains a buy recommendation. Clinigen Group: N+1 Singer ups target pr
Read moreTuesday broker round-up UPDATE
12th Jun 2014 08:50
Afren: Oriel downgrades from buy to hold with a target price of 145p. Aggreko: RBC Capital downgrades to neutral with a target price of 1700p. Betfair Group: Morgan Stanley raises target price from 1150p to 1260p and keeps an overweight rating. BG Group: Nomura downgrades to neutral with a target
Read morePlexus contract win boosts North Africa strength
23rd Apr 2014 11:48
Plexus, the oil and gas drilling technology innovator, has won a new contract to supply equipment services for an exploration well offshore Morocco. The contract, with Portuguese company Galp Energia Tarfya, is worth £0.6m with revenues expected to begin in April 2014. The contract is Plexus's fi
Read morePlexus interims promising as contract momentum builds
27th Mar 2014 11:59
Encouraging first-half results from sub-sea oil drilling technology innovator Plexus saw a double-digit rise in profits as it diversified its contract base outside the UK's waters. Plexus, which was also buoyed by news that Chancellor George Osborne announced new Budget incentives to develop deepw
Read morePlexus Holdings secures contract with Glencore
28th Nov 2013 14:40
Oil and gas engineering services company Plexus Holdings has agreed to supply its POS-GRIP wellhead equipment to Glencore Exploration Cameroon for drilling at the Parrot prospect, offshore Cameroon. A second call-off to supply wellhead equipment for another well, Malimbe, is currently being reviewe
Read morePlexus does 0.85m-pound deal with Centrica
19th Nov 2013 12:38
Oil and gas engineering service business Plexus Holdings has extended a contract with Centrica North Sea Gas in a deal worth up to 850,000 pounds. Plexus has agreed to supply the gas production arm of the owner of British Gas with supply extra drilling equipment for the GROVE 49/10a-4 (G1) product
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