Briefly glanced through Nordic's annual report. Seems like the company is confident of closing the deal with AE as it is mentioned in the report several times. Furthermore, they reiterated their committed to a 40% dividend payout and surprisingly initiated a share buyback mandate.
No material changes from the initial analysis except for the share buyback which is a positive.
Update: Sale and Purchase Agreement filed. Acquisition will be no later than 30th June and contingent on getting shareholder approval in the EGM.
Nordic clinches scaffolding contract worth S$7 million for Chevron’s new process units
This is not the same type of contract as that for shutdown/mainentance for Chevron, right? Spread over 2 years, the revenue per year is about $3.5 M but company said "with bulk of the work done scheduled in FY2016."
