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| Asco Plc |
| Regent Centre Regent Road, Aberdeen, United Kingdom AB11 5NS |
| Business Description | The company is a provider of offshore logistics and supply chain management services to the oil and gas industry. |
|
Filing Information IPO has been | |||
| To Trade As | AAA (NYSE) | Industry | Natural Resource (SIC 1389) |
| Type of Stock Offered | American Depositary Receipts | Filing Date | 5/30/00 |
| Domestic Shares Filed | 12,500,000 | Filing Range | $15.00 - $17.00 |
| Foreign Shares Filed | 0 | Offering Amount | $200,000,000 |
| Company Shares | 12,500,000 | Est. Expenses | - - |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | 108,832,436 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 371-0641 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| Simmons & Company | Co-manager | (713) 223-7840 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 3 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/99 | 3/31/00 | |||||
| Revenues | - | - | - | - | 514.479 | - | 151.736 |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | - | - | - | - | 2.235 | - | -2.111 |
| E.P.S | - | - | - | - | 0.250 | - | -0.150 |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | 0.43 | - | - |
| Cash Flow - Oper. | 19.30 | - | -5.16 | ||||
| Cash Flow - Inv. | -5.87 | - | -19.38 | ||||
| Cash Flow - Fin. | -32.92 | - | 17.30 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 3/31/00 | Financial Ratios | ||||
| Total Assets | 320.60 | Current Assets | - | Current Ratio | - |
| Total Liab. | 335.02 | Current Liab. | - | Debt Ratio | 104.50% |
| Total Equity | -14.41 | Working Cap. | 11.48 | Debt to Equity Ratio | - |
| Cash | - | Return on Assets | 0.70% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for repaying debt incurred to finance acquisitions and pay accrued and special dividends on outstanding performance shares and ordinary shares and to redeem all outstanding preference shares and repurchase outstanding warrants.. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Baker & Botts |
| Bank's Law Firm | Kaye, Scholer, Fierman, Hays & Handler |
| Auditor | Ernst & Young |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| 3i Group plc | 55.60 | |
| Wood Group Operations Holdings Limited | 29.70 | |
| Note: represents ownership of 5% or more prior to the offering. | ||