Market Tracker monthly round-up—March 2017

Monthly round-up of the latest market developments in corporate deals and AGMs.

Market Tracker monthly round-up covers all deals announced in March 2017.

New deals (and AGMs) announced:

AGMs

Announcement date Company Key information
31 March 2017 Morgan Advanced Materials plc Morgan Advanced Materials has announced that its 2017 AGM will be held on 5 May 2017.
31 March 2017 Phoenix Group Holdings plc Phoenix Group has announced that its 2017 AGM will be held on 11 May 2017.
31 March 2017 Rightmove plc Rightmove has announced that its 2017 AGM will be held on 9 May 2017.
31 March 2017 St James' place plc St James' place has announced that its 2017 AGM will be held on 4 May 2017.
31 March 2017 Marshalls plc Marshalls has announced that its 2017 AGM will be held on 10 May 2017.
31 March 2017 Telit Communications plc Telit Communications has announced that its 2017 AGM will be held on 26 April 2017.
31 March 2017 John Wood Group plc John Wood Group has announced that its 2017 AGM will be held on 10 May 2017.
30 March 2017 Segro plc Segro has announced that its 2017 AGM will be held on 26 April 2017.
30 March 2017 Millennium & Copthorne Hotels plc Millennium & Copthorne Hotels has announced that its 2017 AGM will be held on 5 May 2017.
30 March 2017 Polypipe Group plc Polypipe has announced that its 2017 AGM will be held on 24 May 2017.
29 March 2017 Petrofac plc Petrofac has announced that its 2017 AGM will be held on 11 May 2017.
29 March 2017 Bovis Homes Group plc Bovis Homes has announced that its 2017 AGM will be held on 2 May 2017.
29 March 2017 Carillion plc Carillion has announced that its 2017 AGM will be held on 3 May 2017.
29 March 2017 GKN plc GKN has announced that its 2017 AGM will be held on 4 May 2017.
29 March 2017 Polymetal International plc Polymetal International has announced that its 2017 AGM will be held on 11 May 2017.
28 March 2017 Direct Line Insurance Group plc Direct Line has announced that it 2017 AGM will be held on 11 May 2017.
28 March 2017 Barr (A.G) plc AG Barr has announced that its 2017 AGM will be held on 31 May 2017.
28 March 2017 Randgold plc Randgold has announced that its 2017 AGM will be held on 2 May 2017.
28 March 2017 Rotork plc Rotork has announced that its 2017 AGM will be held on 28 April 2017.
27 March 2017 Greggs plc Greggs has announced that its 2017 AGM will be held on 19 May 2017.
27 March 2017 Virgin Money Holdings plc Virgin Money has announced that its 2017 AGM will be held on 3 May 2017.
24 March 2017 Aggreko plc Aggreko has announced that its 2017 AGM will be held on 27 April 2017.
24 March 2017 CLS Holdings plc CLS Holdings has announced that its 2017 AGM will be held on 26 April 2017.
24 March 2017 National Express Group plc National Express has announced that its 2017 AGM will be held on 10 May 2017.
24 March 2017 Pearson plc Pearson has announced that its 2017 AGM will be held on 5 May 2017.
24 March 2017 Keller Group plc Keller Group has announced that its 2017 AGM will be held on 11 May 2017.
24 March 2017 IMI plc IMI has announced that its 2017 AGM will be held on 4 May 2017.
24 March 2017 Meggitt plc Meggitt has announced that its 2017 AGM will be held on 27 April 2017.
24 March 2017 Standard Chartered plc Standard Chartered has announced that its 2017 AGM will be held on 3 May 2017.
24 March 2017 Prudential plc Prudential has announced that its 2017 AGM will be held on 18 May 2017.
23 March 2017 Berendsen plc Berendsen has announced that its 2017 AGM will be held on 27 April 2017.
23 March 2017 Indivior plc Indivior has announced that its 2017 AGM will be held on 17 May 2017.
23 March 2017 Intu Properties plc Intu has announced that its 2017 AGM will be held on 3 May 2017.
23 March 2017 Metro Bank plc Metro Bank has announced that its 2017 AGM will be held on 25 April 2017.
23 March 2017 Shire plc Shire has announced that its 2017 AGM will be held on 25 April 2017.
23 March 2017 Intertek Group plc Intertek Group has announced that its 2017 AGM will be held on 26 May 2017.
23 March 2017 Just Eat plc Just Eat has announced that its 2017 AGM will be held on 25 April 2017.
22 March 2017 Admiral Group plc Admiral Group has announced that its 2017 AGM will be held on 26 April 2017.
22 March 2017 RSA Insurance Group plc RSA Insurance Group has announced that its 2017 AGM will be held on 5 May 2017.
22 March 2017 Centrica plc Centrica has announced that its 2017 AGM will be held on 8 May 2017.
22 March 2017 Ultra Electronics Holdings plc Ultra Electronics holdings has announced that its 2017 AGM will be held on 28 April 2017.
22 March 2017 Howden Joinery Group plc Howden Joinery Group has announced that its 2017 AGM will be held on 2 May 2017.
21 March 2017 Elementis plc Elementis has announced that its 2017 AGM will be held on 25 April 2017.
21 March 2017 ITV plc ITV has announced that its 2017 AGM will be held on 10 May 2017.
21 March 2017 London Stock Exchange plc London Stock Exchange has announced that its 2017 AGM will be held on 26 April 2017.
21 March 2017 Reckitt Benckiser Group plc Reckitt Benckiser Group has announced that its 2017 AGM will be held on 4 May 2017.
21 March 2017 Serco Group plc Serco Group has announced that its 2017 AGM will be held on 11 May 2017.
21 March 2017 Bodycote plc Bodycote has announced that its 2017 AGM will be held on 15 May 2017.
21 March 2017 Capital & Counties Properties plc Capital & Counties Properties has announced that its 2017 AGM will be held on 5 May 2017.
21 March 2017 Convatec Group plc Convatec Group has announced that its 2017 AGM will be held on 11 May 2017.
21 March 2017 Fevertree Drinks plc Fevertree drinks has announced that its 2017 AGM will be held on 15 May 2017.
20 March 2017 BBA Aviation plc BBA Avidation has announced that its 2017 AGM will be held on 5 May 2017.
20 March 2017 Cobham plc Cobham has announced that its 2017 AGM will be held on 27 April 2017.
20 March 2017 Croda International plc Croda International has announced that its 2017 AGM will be held on 26 April 2017.
20 March 2017 Domino's Pizza plc Domino's Pizza has announced that its 2017 AGM will be held on 20 April 2017.
20 March 2017 Fidessa Group plc Fidessa Group has announced that its 2017 AGM will be held on 26 April 2017.
20 March 2017 Persimmon plc Persimmon has announced that its 2017 AGM will be held on 27 April 2017.
20 March 2017 Spectris plc Spectris has announced that its 2017 AGM will be held on 26 May 2017.
17 March 2017 Essentra plc Essentra has announced that its 2017 AGM will be held on 20 April 2017
17 March 2017 Schroders plc Schroders has announced that its 2017 AGM will be held on 27 April 2017.
17 March 2017 Taylor Wimpey plc Taylor Wimpey has announced that its 2017 AGM will be held on 27 April 2017.
17 March 2017 Jardine Lloyd Thompson Group plc Jardine Lloyd Thompson Group has announced that its 2017 AGM will be held on 27 April 2017.
16 March 2017 Emis Group plc Emis Group has announced that its 2017 AGM will be held on 28 April 2017.
16 March 2017 M & C Saatchi plc M & C Saatchi has announced that its 2017 AGM will be held on 7 June 2017 .
16 March 2017 OneSavings Bank plc OneSavings Bank has announced that its 2017 AGM will be held on 10 May 2017.
16 March 2017 Bunzl plc Bunzl has announced that its 2017 AGM will be held on 19 April 2017.
16 March 2017 Rolls- Royce holdings plc Rolls- Royce holdings has announced that its 2017 AGM will be held on 4 May 2017.
15 March 2017 Acacia Mining plc Acacia Mining has announced that its 2017 AGM will be held on 20 April 2017.
15 March 2017 Inchcape plc Inchcape has announced that its 2017 AGM will be held on 25 May 2017.
14 March 2017 William Hill plc William Hill has announced that its 2017 AGM will be held on 9 May 2017.
14 March 2017 Fidelity European Values plc Fidelity European Values has announced that its 2017 AGM will be held on 15 May 2017.
14 March 2017 Lancashire Holdings Limited Lancashire has announced that its 2017 AGM will be held on 3 May 2017.
14 March 2017 TP ICAP plc TP ICAP has announced that its 2017 AGM will be held on 11 May 2017.
13 March 2017 Weir Group plc Weir Group has announced that its 2017 AGM will be held on 27 April 2017.
13 March 2017 UBM Plc UBM has announced that its 2017 AGM will be held on 17 May 2017.
13 March 2017 Hunting plc Hunting has announced that its 2017 AGM will be held on 12 April 2017.
13 March 2017 Anglo American plc Anglo American has announced that its 2017 AGM will be held on 24 April 2017.
9 March 2017 Aviva plc Aviva has announced that its 2017 AGM will be held on 10 May 2017.
9 March 2017 Spirax-Sarco Engineering plc Spirax-Sarco Engineering has announced that its 2017 AGM will be held on 9 May 2017.
9 March 2017 Royal Dutch Shell plc Royal Dutch Shell has announced that its 2017 AGM will be held on 23 May 2017.
8 March 2017 Jupiter Fund Management plc Jupiter Fund Management has announced that its 2017 AGM will be held on 28 March 2017.
8 March 2017 Hill & Smith plc Hill & Smith has announced that its 2017 AGM will be held on 11 May 2017.
8 March 2017 HSBC Holdings plc HSBC has announced that its 2017 AGM will be held on 28 April 2017.
8 March 2017 PageGroup plc PageGroup has announced that its 2017 AGM will be held on 8 June 2017.
7 March 2017 RELX plc RELX has announced that its 2017 AGM will be held on 20 April 2017.
7 March 2017 Tullow Oil plc Tullow Oil has announced that its 2017 AGM will be held on 26 April 2017.
6 March 2017 Esure plc Esure has announced that its 2017 AGM will be held on 17 May 2017.
6 March 2017 Hammerson plc Hammerson has announced that is 2017 AGM will be held on 25 April 2017.
6 March 2017 Smith & Nephew plc Smith & Nephew has announced that its 2017 AGM will be held on 6 April 2017.
6 March 2017 Vectura Group plc Vectura has announced that its 2017 AGM will be held on 25 May 2017.
2 March 2017 Glencore plc Glencore has announced that its 2017 AGM will be held on 24 May 2017
2 March 2017 Hastings Group plc Hastings Group has announced that its 2017 AGM will be held on 25 May 2017.
2 March 2017 Smurfit Kappa Group plc Smurfit Kappa has announced that its 2017 AGM will be held on 5 May 2017.
2 March 2017 Henderson Group Henderson has announced that its 2017 AGM will be held on 27 April 2017.
2 March 2017 Nichols plc Nichols has announced that its 2017 AGM will be held on 26 April 2017.
2 March 2017 Spire Healthcare Group plc Spire Healthcare has announced that its 2017 AGM will be held on 26 May 2017.
2 March 2017 Travis Perkins plc Travis Perkins has announced that its 2017 AGM will be held on 24 May 2017.
1 March 2017 Paddy Power Betfair Paddy Power has announced that its 2017 AGM will be held on 17 May 2017.
1 March 2017 Senior plc Senior has announced that its 2017 AGM will be held on 22 April 2017.
1 March 2017 Evraz plc Evraz has announced that its 2017 AGM will be held on 20 June 2017.
1 March 2017 Man Group plc Man Group has announced that its 2017 AGM will be held on 5 May 2017.
1 March 2017 Rio Tinto plc Rio Tinto has announced that its 2017 AGM will be held on 14 April 2017.

Delistings

Announcement date Delisting company Key information
30 March 2017 Turbo Power Systems Inc Turbo Power systems has announced that its shares will be cancelled from trading on AIM.
The company intends to seek shareholders' approval of the cancellation at its annual general meeting, scheduled for 25 May 2017.
28 March 2017 CloudTag plc CloudTag has announced that its shares has been cancelled from trading on AIM at 7:00 am on 28 March 2017.
28 March 2017 Asian Citrus Holdings (UK) Asian Citrus Holdings has announced that its shares will be cancelled from trading on AIM on 31 March 2017.
24 March 2017 RapidCloud International plc RapidCloud has announced that its shares will be cancelled from trading on AIM at 7.00am on 27 March 2017.
The delisting follows the suspension of its shares on AIM after its nominated adviser resigned.
13 March 2017 Nimrod Sea Assets Limited Nimrod Sea Assets announced that following discussions with its shareholders, the board has resolved to cancel the admission to trading of the company's shares to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange.
The purpose of the delisting is to reduce annual fixed running costs significantly and to enable Nimrod to pursue more effectively its strategic options. Nimrod will, following delisting, look to return surplus capital to shareholders.
The delisting is expected to take place from 7 am on 11 April 2017.
6 March 2017 Sacoil Holdings Limited Sacoil Holdings announced that its shares were suspended, pursuant to an impending reverse takeover under Rule 14 of the AIM Rules.
Following careful consideration, the company decided to seek shareholder approval to cancel the admission of its ordinary shares to trading on AIM. The decision was made on the basis that the company's shareholder base is predominantly located in South Africa, where it has its primary stock listing, and as a result its shares trade only sporadically in London. Accordingly, the company felt it could not justify the costs of retaining its listing on AIM along its listing on the Johannesburg Stock Exchange, and the associated burden of complying with two regulatory regimes.
An explanatory circular will be posted to shareholders in due course to call a general meeting to approve the delisting. The earliest effective date for cancellation will be 3 April 2017. The company has no intention to cancel its listing on the Johannesburg Stock Exchange.

IPOs

Announcement date Issuer Key information
29 March 2017 Dukemount Capital plc Dukemount Capital has announced that it has admitted its ordinary shares of 0.001 GBP on the London Stock Exchange's Main Market.Dukemount has been admitted on the Standard Segment of the Main Market.
27 March 2017 Path Investments plc Path Investments has announced its intention to seek admission to trading of its ordinary shares to the standard listing segment of the London Stock Exchange's Main Market.
Admission and dealings in the company's ordinary shares is expected to occur on or around 30 March 2017.
16 March 2017 Medica Group plc Medica Group has announced that it has published a prospectus in relation to its IPO.The company has  announced the successful pricing of its initial public offering and the placing of 89,977,091 new and existing ordinary shares of 135 pence per ordinary share by Investec Bank plc.
The company has applied for the admission of its ordinary shares to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of the London Stock Exchange plc. It is expected that unconditional dealings in the Ordinary Shares will commence at 8.00 am on 21 March 2017.
8 March 2017 Ocelot Partners Limited Ocelot Partners announced that it as published a prospectus in relation to its IPO by way of a placing of 41,765,000 new ordinary shares of no par value (with warrants being issued to subscribers of new ordinary shares in the placing on the basis of one warrant per ordinary share) at a placing price of $10.00 per ordinary share and admission to the Official List of 41,790,000 ordinary shares of no par value and 42,490,000 warrants (by way of a standard listing) and to trading on the London Stock Exchange’s main market for listed securities.
It is expected that admission will become effective and that unconditional dealings will commence at 8.00 am on 13 March 2017.

Joint ventures

Announcement date Deal Key information
31 March 2017 Wishbone Gold plc and SION Honduras SA Wishbone Gold has announced that has signed a joint venture agreement through its subsidiary, Wishbone Gold Honduras Ltd, with SION Honduras SA (SION), to fund the development and exploitation of existing gold mine sites in Honduras.
SION is an associated company of Scotia International of Nevada Inc, a privately-owned mining equipment supply company based in the United States.
28 March 2017 IronRidge Resources limited and Major Stars sarl IronRidge has announced that it has entered into a joint venture agreement (JVA) with Major Stars. The JVA grants IronRidge exclusive rights over an extensive portfolio and associated gold exploration targets in Ivory Coast, West Africa.  The signing of the heads of terms in respect of the JVA was announced on 24 November 2016.
28 March 2017 Total S.A and Borealis and Nova Total has announced that it has entered into an agreement to form a 50:50 joint venture with Borealis and Nova for $1.7 billion.
27 March 2017 Bluebird Merchant Ventures Ltd and Southern Gold Ltd Bluebird has announced that it has entered into an agreement to form a 50:50 joint venture with ASX-listed Southern Gold.
23 March 2017 Kier Group plc and CKH Developments Limited Kier has announced that is has established a joint venture with CKH Developments.
Kier will transfer part of its land bank and a number of its residential developments into the JV with CKH Developments contributing up to £4m of equity into the JV. Kier will receive a cash payment of up to £64m for the assets and the JV will be funded by a non-recourse revolving credit facility from HSBC Bank plc.
There will be a 90:10 split of economic ownership and each party will have 50:50 voting rights. Initial completion of the transaction is expected to take place by 31 March 2017, with subsequent completions expected to take place prior to 30 June 2017 upon the transfer of further sites.
9 March 2017 Regency Mines plc and UK Carbon Resolutions Ltd. Regency Mines has announced that it has invested $150,000 for a 20% shareholding in a new joint venture company (Vali Carbon Corporation) under the terms of the joint venture with UK Carbon Resolutions Ltd.UK Carbon Resolutions Ltd has identified a new metallurgical coal opportunity within the target Appalachian area in the Eastern U.S. which it has secured and is transferring into the joint venture company.
8 March 2017 Milestone Group plc and Self Made Limited Milestone has announced that its technology partner, Nexstar, has signed a joint venture agreement with Self Made Limited, under which Nexstar will own 51% of the issued share capital of the JV with Self Made controlling the remainder.
The objective of the JV is to combine leading music artists with Nexstar's music publishing and analytics platform which utilises blockchain technology to monetise and manage an artist's intellectual property.
The JV will be a 50:50 revenue share with revenue being generated from an initial set-up fee from the artist and an ongoing royalty payment of between 15% and 25% per each music transaction generated by users downloading or streaming tracks.
2 March 2017 Alexander Mining plc and Dr. Nicholas Welham Alexander Mining has announced that it has entered into an agreement to form a joint venture with Dr. Nicholas Welham (Alexander's Principal Technology Consultant for ammoniacal and hypochlorous acid leaching) to investigate the potential recovery of lithium from lithium bearing minerals.

LR/AIM Rules transactions

Announcement date Company Key information
30 March 2017 Harwood Wealth Management Group plc Harwood Wealth Management has announced a related party transaction under the AIM rules.
23 March 2017 Franchise Brands Limited Franchise Brands has announced a related party transaction under Rule 13 of the AIM rules.
17 March 2017 Circassia Pharmaceuticals plc Circassia Pharmaceuticals has announced a Class 1 transaction under the listing rules.
2 March 2017 Sportech plc Sportech has announced a Class 1 transaction under the Listing Rules.

Reorganisations

Announcement date Company Key information
30 March 2017 Sterling Energy plc Sterling Energy has announced that it is seeking shareholder approval to carry out a reduction of the company's capital by way of:

  1. cancellation of paid-up capital of 30 pence on each issued Ordinary Share of 40 pence; and
  2. cancellation of the amount standing to the credit of the company's share premium account

The company is pursuing the reduction of capital to reduce the nominal value of its ordinary shares, cancel the balance standing to the credit of the company's share premium account and to create distributable reserves of the company.

28 March 2017 Tertiary Minerals plc Teritiary Minerals has announced a subdivision of share capital.The ordinary shares will be subdivided into 1 new ordinary share of 0.01 pence each and 1 deferred share of 0.99 pence each.
15 March 2017 Ortac Resources Ltd Ortac Resources announced a proposed share capital reorganisation by way of a consolidation of the company's existing ordinary shares to a level in line with other comparable AIM quoted companies.
The directors have resolved to re-organise the company's share capital by consolidating all of the existing ordinary shares of no par value on the basis of one new ordinary share of no par value for every 100 existing ordinary shares.
The company's current issued capital consists of 8,213,507,859 ordinary shares of no par value. Post consolidation, the issued share capital of the company is expected to be 82,134,988 new ordinary shares.
10 March 2017 7digital Group plc 7digital has announced a proposed share capital reorganisation by way of a sub-division of its existing ordinary shares.It is proposed that each of the company's 115,751,517 existing ordinary shares of 10 pence each be sub-divided into one new ordinary share of 1 penny each and 1 deferred share of 9 pence each.
The reorganisation is being proposed in connection with placing and open offer. It is necessary to undertake the share capital reorganisation to enable the company to issue shares in the future (including the new ordinary shares) at a price which is less than the current nominal value of an existing ordinary shares.

Returns of value to shareholders

Announcement date Company Key information
31 March 2017 Asian Growth Properties Limited Asian Growth Properties has announced a special dividend to its shareholders in the amount of HK$10.35 (£1.06) per share.
29 March 2017 London Stock Exchange Group plc London Stock Exchange Group has announced that it is to commence a £200 million buyback programme to repurchase ordinary shares.
23 March 2017 Arbuthnot Banking Group plc Arbuthnot Banking has proposed two special dividends of 25 pence and 300 pence respectively, to be paid to on 12 May 2017 to shareholders on the register at close of business on 18 April 2017.
21 March 2017 ITV plc ITV has announced its intention to declared a special dividend of 5 pence per ordinary share.
The special dividend is subject to passing of a resolution at the company's annual general meeting to be held on 10 May 2017.
8 March 2017 Admiral Group plc Admiral has announced a special dividend of 36.5 pence per share.
The dividend will be paid on 2 June 2017. The ex-dividend date is 11 May 2017 and the record date is 12 May 2017.
7 March 2017 Schroders plc Schroders has announced that it is commencing a share buyback programme to repurchase a maximum of 233,452 of its non-voting ordinary shares, commencing on 7 March 2017 and ending on 31 March 2017.
The purpose of the buy-back programme is to reduce the capital of the company.
7 March 2017 Headlam Group plc Headlam Group has announced a special dividend of 8 pence per share. The payment will be made on 24 April 2017 to shareholders on the register at 31 March 2017.The 2016 financial results and overall financial strength of the company have allowed it to declare the special dividend.
2 March 2017 Sportech plc Sportech has announced that its board has resolved to return approximately £20 million to shareholders by way of a tender offer to be implemented during the current tax year.The tender offer will be effected by using the company's existing authorities to repurchase ordinary shares and is therefore not subject to shareholder approval.
1 March 2017 Moneysupermarket.com Group plc Moneysupermarket has announced that it will begin a new programme to repurchase ordinary shares in the capital of the company during the period from 1 March 2017 to 13 December 2017.
The sole purpose of the share buy-back programme is to reduce the share capital of the company.
The maximum allocated to the share buy-back programme is £40 million and the maximum number of ordinary shares that will be purchased is 54,752,150.

Reverse takeovers

Announcement date Company Key information
28 March 2017 Acorn Growth  plc Acorn Growth has announced that it is to acquire Dolphin Capital 112 Projekt GmbH & Co. KG, Dolphin Capital 192 Projekt GmbH & Co. KG, Dolphin Capital 126 Projekt GmbH & Co. KG,; and Dolphin Capital 214 Projekt GmbH & Co. KG.The acquisition constitutes a reverse takeover under the Listing Rules.
23 March 2017 Franchise Brands plc acquisition of Metro Rod Limited Franchise Brands has announced that it is to acquire Metro Rod Limited.
The acquisition is a reverse takeover under the AIM Rules.

Secondary offers

Announcement date Issuer Key information
31 March 2017 MaxCyte, Inc. AIM-listed MaxCyte has announced a proposed placing of 7,275,000 shares to raise up to approximately £20 million (gross).
30 March 2017 Harwood Wealth Management Group plc Harwood Wealth Management has announced a placing to raise gross proceeds of £10 million.
30 March 2017 AO World plc AO has announced a placing to raise up to £50 million, through the issue of up to 42,063,157 new ordinary shares in the Company.
29 March 2017 Accsys Technologies plc Accsys Technologies has announced a firm placing and open offer to raise up to €14 million (before expenses) at the offer price of €0.69 per new ordinary share.
29 March 2017 ConvaTec Group plc ConvaTec Group has announced a proposed placing of shares  to institutional investors by way of an accelerated bookbuilding process, Nordic Capital and Avista announce that they have elected to increase the size of the placement of shares due to strong investor demand.
29 March 2017 Amedeo Air Four Plus Limited Amedeo Air Four Plus has announced a new placing programme in respect of new redeemable ordinary shares of no par value in the capital of the Company to raise approximately £185 million to fund the Proposed New Acquisitions.
29 March 2017 Mereo Biopharma plc Mereo Biopharma has announced a proposed placing to raise a minimum of £15 million to support an accelerated development of BPS-804 for the treatment of the orphan disease, osteogenesis imperfecta (brittle bone disease), following its acceptance to participate in the European Medicine Agency's Adaptive Pathways Programme.
28 March 2017 JRP Group plc JRP Group has announced that Cinven and Permira, through certain of their funds announce that they intend to sell approximately 30 million ordinary shares and 45 million ordinary shares respectively in JRP Group. The 75 million placing shares represent approximately 8.0% of the Company's issued share capital.
21 March 2017 Clarkson plc Clarkson announced that certain selling shareholders have agreed to sell an aggregate of 1,232,462 ordinary shares in the capital of the company at a price of 2750p per ordinary share.
It is intended that the sale of the placing shares will be executed by way of an accelerated bookbuild to institutional investors and will be launched immediately.
The company will not receive any proceeds from the placing.
20 March 2017 AFH Financial Group plc AFH Financial announced a proposed placing to raise gross proceeds of up to £10 million through the placing of new ordinary shares in the capital of the company at a price of 175 pence per ordinary share. The placing is being conducted by way of an accelerated bookbuild process.
The net proceeds of the placing to be used to execute the company's acquisition pipeline and for general corporate purposes.
Additionally, provided that excess demand for the placing exists, Alan Hudson, chief executive officer of the company, has agreed to sell up to 1,000,000 existing ordinary shares owned by him, at the placing price, to raise gross proceeds of up to £1.75 million.
17 March 2017 Tullow Oil plc Tullow Oil has announced a proposed 25-for-49 rights Issue of 466,925,724 new ordinary shares at an issue price of 130 pence per share, to raise approximately £607 million.The rights issue is subject to shareholder approval at the company's general meeting to be held at 11.00 am on 5 April 2017.
17 March 2017 Private & Commercial Finance Group plc Private & Commercial Finance has announced a proposed placing to raise a minimum of £10.0 million for the company and open offer to raise up to £0.5 million. 40,000,000 placing shares have been conditionally placed at an issue price of 25 pence per new ordinary share, raising a total of £10 million for the company. The placing will be conducted by way of an accelerated bookbuild.
The company is also making the open offer of up to 2,000,000 open offer shares to qualifying shareholders at the issue price.
16 March 2017  Eurocell plc Eurocell has announced a proposed placing of 20,129,094 ordinary shares in Eurocell by H2 Equity Partners Fund IV. The placing shares are being sold to institutional investors at a price between 195p and 205p. The placing will be conducted by means of an accelerated bookbuild.
16 March 2017 Hochschild Mining plc Hochschild Mining has announced that Pelham Investment Corporation intends to sell approximately 15.5 million ordinary shares of Hochschild Mining trough a placing to institutional investors at a price of 270 pence per share, raising aggregate gross proceeds of approximately £41.9 million.The placing shares will be offered to institutional investors through an accelerated bookbuild.
16 March 2017 The Gym Group plc The Gym Group has announced that certain funds advised by Phoenix Equity Partners Limited and a fund managed by Bridges Ventures LLP intend to sell their remaining stake in The Gym Group.The disposal will be through a placing of 39,136,669 existing ordinary shares in the company to institutional investors by means of an accelerated bookbuild offering process, at a price of 175 pence per share, which is to begin immediately.
14 March 2017 On the Beach Group plc On the Beach Group announced that OTB Holdings Limited Partnership has sold 15,332,765 ordinary shares in the company at a price of 280 pence per share, raising aggregate gross proceeds of approximately £42.9 million.
The placing shares were offered by way of an accelerated bookbuild that was launched immediately following the placing announcement.
10 March 2017 Aldermore Group plc Aldermore announced that AnaCap Financial Partners L.P., AnaCap Financial Partners II, L.P., AnaCap Derby Co-investment (No. 1) L.P. and AnaCap Derby Co-investment (No. 2) L.P., have sold 51,700,000 ordinary shares in the capital of Aldermore at a price of 220 pence per share.The selling shareholders raised gross sale proceeds of approximately £113.7 million through the placing. Following closing of the placing, the selling shareholders will be interested in approximately 25% of the Aldermore's issued ordinary share capital of 344,739,584 ordinary shares.
9 March 2017 Flowtech Fluidpower plc Flowtech Fluidpower announced a proposed fundraising of up to £10 million, by way of the conditional placing of placing shares at a price of 120 pence per share with existing and new institutional and other investors.The placing shares are being offered by way of an accelerated bookbuild, which will be launched immediately.
If approved by shareholders the placing shares to be issued pursuant to the proposed Placing are expected to represent approximately 16.2% of the enlarged issued share capital of the company.
9 March 2017 Ibstock plc Ibstock announced that Diamond (BC) S.A R.L is exploring the opportunity to sell approximately 40.6 million ordinary shares in the capital of Ibstock to institutional investors by way of a placing.Diamond (BC) S.A R.L currently owns 150,200,435 ordinary shares, corresponding to 37.0% of Ibstock's entire issued share capital.
The price per placing share will be determined by way of an accelerated bookbuilding process. The bookbuilding period will commence on 9 March 2017, and may close at any time on short notice.
7 March 2017 Ascential plc Ascential announced a successful placing of 92,968,360 existing ordinary shares in the company by several selling shareholders at a placing price of 288 pence per existing ordinary shares, raising gross proceeds of approximately £267.7 million before expenses.
Following the completion of the placing, the selling shareholders will no longer hold any existing ordinary shares in the company.
The closing of the placing is expected to occur on 9 March 2017, subject to satisfaction of certain customary conditions.
The company will not receive any proceeds from the placing.
6 March 2017 88 Energy Limited 88 Energy announced a successful placing of 459,459,460 new ordinary shares at a placing price of £0.023 pence (A$0.037) per new ordinary share with domestic and international institutional investors, to raise approximately £10.53 million (A$17 million) before expenses.
The company intends to apply the net proceeds of the placing to further strengthen its balance sheet ahead of its upcoming drilling projects, which is scheduled for Q2 2017. The placing provides the company with financial flexibility to cover any unexpected costs arising from the drilling project, lease payments due and ongoing exploration activities.

Takeovers

Announcement date Deal Key information
31 March 2017 Hayward Tyler Group plc - possible offer by Avingtrans plc Hayward Tyler has announced in response to movement in its share price confirming that it is in possible offer discussions with Avingtrans.
The 'put up or shut up' deadline is 28 April 2017.
29 March 2017 Circle Holdings plc - offer by Toscafund Asset Management LLP and Penta Capital LLP DMWSL 849 (Bidco) has announced a recommended all-cash offer for Circle Holdings.
Bidco is a newly incorporated company formed at the direction of Penta and Toscafund.
Target shareholders are set to receive 30 pence per share, valuing the acquisition at £55.3 million.
27 March 2017
  1. Exova Group plc - possible offer by Element Materials Technology
  2. Exova Group plc - possible offer by PAI Partners SAS
  3. Exova Group plc - possible offer by Jacobs Holding AG
Main Market-listed Exova has announced, in response to speculation, confirming it had received separate possible offer approaches from PAI Partners SAS, Element Materials Technology and Jacobs Holding AG (Possible Offerors).
In accordance with Rule 2.6(a) of the City Code on Takeovers and Mergers, a 28-day 'put up or shut up' deadline of 24 April 2017 has been imposed, by which time the Possible Offerors must each announce a firm intention to make an offer or that they do not intend to make an offer.
21 March 2017 Bowleven plc—commencement of offer period (strategic review) AIM-listed Bowleven has announced that it has initiated a strategic review of its options, including a sale of the company.
For the purposes of the Takeover Code, the company is, on the publication of such announcement, considered to be within an offer period.
17 March 2017 Panmure Gordon & Co. plc - offer by QInvest LLC and Atlas Merchant Capital LLC Ellsworthy Limited (Bidco) has announced a recommended all-cash offer for Panmure Gordon, structured by way of a scheme of arrangement.
Bidco is a company owned and controlled by QInvest LLC and by a wholly-owned subsidiary of a fund managed by Atlas Merchant Capital LLC.
Target shareholders are set to receive 100 pence per share, valuing the acquisition at £15.5 million.
15 March 2017 FIH Group plc - possible offer by Dolphin Fund Limited Bermuda-incorporated Dolphin has announced that it has written to the board of FIH to request information to enable the company to evaluate making a cash offer for FIH.
This is a potential competing offer to the £37.1 million offer for FIH by The Rowland Purpose Trust 2001. See deal summary:
FIH Group plc—offer by The Rowland Purpose Trust 2001
The 'put up or shut up' deadline is 17 April 2017.
13 March 2017 Amec Foster Wheeler plc—offer by John Wood Group plc Scottish-incorporated John Wood Group has announced a recommended all-share offer for Main Market-listed Amec Foster Wheeler, structured by way of a scheme of arrangement.
For each Amec Foster Wheeler share, target shareholders are set to receive 0.75 New Wood Group shares, valuing the acquisition at £2.2 billion.
The scheme document is to follow.
13 March 2017 Bovis Homes Group plc—possible offer by Redrow plcBovis Homes Group plc—possible offer by Galliford Try plc On 13 March 2017, Bovis Homes announced in response to press speculation confirming that it was in possible offer discussions, separately with Redrow and Galliford Try.These are potential competing offers for Bovis.
Bovis has rejected Redrow and Galliford Try's possible offer approaches on the grounds that they undervalue the company and its prospects.
The 'put up or shut up' deadline for these potential bidders is 9 April 2017.
For the purposes of the City Code on Takeovers and Mergers (the Code) the offer period commenced on 12 March 2017.
6 March 2017 Aberdeen Asset Management plc – offer by Standard Life plc Standard Life has announced a recommended all-share merger with Aberdeen Asset Management, structured by way of a scheme of arrangement.The offer follows Standard Life's possible offer for Aberdeen.
Target shareholders are set to receive 0.757 New Shares in exchange for each Aberdeen share.The scheme will be governed by Scots law.

Transfers from AIM to the Main Market

Announcement date Issuer Key information
28 March 2017 Sirius Minerals plc Sirius Minerals has announced its intention to apply for admission to listing of its ordinary shares on the London Stock Exchange's Main Market.Sirius Minerals also announced its cancellation of shares on AIM.

Transfers from Main Market to AIM

Announcement date Issuer Key information
7 March 2017 Lakehouse plc Lakehouse has announced that it is proposing to cancel the listing of its ordinary shares from the premium segment of the Official List of the UK Listing Authority and from trading on the Main Market of London Stock Exchange and to apply for admission for the ordinary shares to trading on AIM.
The board believes that, given its size and strategy, there will be significant benefits from the proposed move to AIM, which will enable the company to more effectively deliver value to all of its stakeholders, including shareholders.
Shareholder approval for the proposed transfer from the Main Market to AIM is being sought at the Company's AGM on 31 March 2017. Subject to obtaining the requisite shareholder approval at the AGM, it is expected that the cancellation and admission will occur at the same time on or around 2 May 2017.

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