CLO 0.00% $1.46 clough limited

CLOUGH - Update

  1. dct
    3,506 Posts.
    lightbulb Created with Sketch. 224
    I have received an email from Peter Collins (Director Corporate affairs) who has indicated the claw back from the problem contracts is on track to be finalised in a the next few months.
    The Maxita sale has occurred and a profit has been made. He did not say how much but my calculations show probably a cash return in the order of $40m+ is likely based on book value of $77m(50% ownership).
    This will free up a lot of capital to pursue current work in hand of $1.4b the highest it has ever been by about $500m.
    He said they did not win the re-tenderred Minerva project but is not unhappy as they have more than enough work on with short,medium and long term prospects looking good.
    Hope this helps
watchlist Created with Sketch. Add CLO (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.