Market Tracker weekly round - up — 28 June 2019

Weekly round-up of the latest corporate announcements, including recommended offers for Merlin Entertainments plc by KIRKBI Invest A/S and Blackstone Core Equity Partners, and Canada Pension Plan Investment Board, and for BCA Marketplace plc by TDR Capital LLP, strategic reviews by MySale Group plc and Nostrum Oil & Gas plc, secondary offers by EJF Investments Limited, BATM Advanced Communications Limited, Staffline Group plc, Dods Group plc and Angle plc, a share buyback by Paragon Banking Group plc, related party transactions by Staffline Group, Dods Group plc and Angle plc, a Class 1 transaction by Unite Group plc, and 5 AGM notices.

The weekly round-up covers all deals announced within our statement of scope until 12 noon on the Friday of the previous week. Any deals announced after this time will be included in the following day's round-up.

All transactions covered in this update are available on the Market Tracker deal analysis tool containing over 5,000 public company deal summaries.

For trend reports and other analysis see our Trend Reports subtopic.

New deals (and AGMs) announced:

AGMs

27 June 2019Go-Ahead Group plcTravel, Hospitality, Leisure & TourismGo—Ahead Group has announced that its 2019 AGM will be held on 31 October 2019
26 June 2019BCA Marketplace plcProfessional ServicesBCA Marketplace has announced that its 2019 AGM will be held on 16 September 2019.
25 June 2019FirstGroup plcTravel, Hospitality, Leisure & TourismFirstGroup has announced that its 2019 AGM will be held on 25 July 2019.
25 June 2019NewRiver REIT plcInvestmentNewRiver REIT has announced that its 2019 AGM will be held on 25 July 2019.
24 June 2019Polar Capital Holdings plcFinancial ServicesPolar Capital Holdings has announced that its 2019 AGM will be held on 31 July 2019.

LR/AIM Rules transactions

28 June 2019Dods Group plcMedia & TelecommunicationsDods Group has announced a related party transaction under Rule 13 of the AIM Rules.
27 June 2019Staffline Group plcProfessional ServicesStaffline Group announced that it has conditionally raised gross proceeds of approximately £34 million through the placing of 34 million new ordinary shares of 10 pence each in the company at 100 pence per share.
Octopus Investments Limited is considered to be a related party of the Company for the purposes of the AIM Rules by virtue of their status as a substantial shareholder of the Company. Octopus has agreed to subscribe for 4,000,000 Placing Shares as part of the Placing.
27 June 2019Unite Group plcInvestmentUnite Group has announced a potential Class 1 transaction under the Listing Rules.
25 June 2019Angle plcPharmaceuticals & BiotechnologyAngle announced a related party transaction under the AIM rules.

Returns of value to shareholders

27 June 2019Paragon Banking Group plcFinancial ServicesParagon Banking Group has announced a share buy-back of up to £30 million with the balance of the capital generated being used to support balance sheet growth.

Secondary offers

28 June 2019Dods Group plcMedia & TelecommunicationsDods Group has announced a conditional fundraising to raise up to £13.2 million to part finance the conditional acquisition of Meritgroup.
27 June 2019Staffline Group plcProfessional ServicesStaffline Group announced that it is proposing to raise up to £41 million, before expenses, by way of a placing to raise up to £34 million and an open offer to raise up to £7 million at a price of £1 per share. The net proceeds will allow Staffline Group to reduce its indebtedness.
25 June 2019Angle plcPharmaceuticals & BiotechnologyAngle announced a placing of 29,268,294 new ordinary shares at a price of £0.615 to raise gross proceeds of £18 million. The placing is being conducted through an accelerated book build process
24 June 2019BATM Advanced Communications LimitedMedia & TelecommunicationsBATM Advanced Communications announcedits intention to raise not less than £11.8 million (US$15 million), before expenses, by way of a placing and direct subscription of new ordinary shares of 0.01 NIS each in the company at a price of 42.5 pence per new ordinary share, with certain eligible existing shareholders and new institutional and other investors.
24 June 2019EJF Investments LimitedInvestmentEJF Investments announced the publication of a prospectus in relation to the 12 month placing programme of up to 150 million ordinary shares and/or C shares and up to 75 million new ZDP shares.The prospectus has been approved by the FCA.

Takeovers

28 June 2019Merlin Entertainments plc offer by (i) KIRKBI Invest A/S and (ii) Blackstone Core Equity Partners and Canada Pension Plan Investment Board as a co-investorTravel, Hospitality, Leisure & TourismKIRKBI and Blackstone Core Equity Partners (and Canada Pension Plan Investment Board as a co-investor)announced a recommended cash offer through a newly formed company jointly owned by the offerors, Berkeley Bidco Limited, for the entire issued and to be issued ordinary share capital of Merlin Entertainments. The offer is to be structured by way of a scheme of arrangement.The consideration value is £4.55 per share, valuing the entire fully diluted share capital of Stride at approximately £4.766bn.
26 June 2019BCA Marketplace plc offer by TDR Capital LLPProfessional servicesTDR Capital announced a recommended all cash offer for the entire issued and to be issued ordinary share capital of BCA Marketplace to be made by BBD Bidco Limited (Bidco), a special purpose vehicle formed by investment funds managed by TDR Capital for the specific purpose of making the offer. The offer is to be structured by way of a scheme of arrangement.
24 June 2019MySale Group plc—FSPRetail & wholesale tradeMySale Group announced that it is reviewing all strategic options in order to deliver maximum value for its shareholders, which includes the potential sale of the group. MyGroup is, on the announcement of the strategic review, in an offer period as defined in the Takeover Code.
24 June 2019Nostrum Oil & Gas plc—FSPOil & GasNostrum Oil & Gas announced that it is reviewing all strategic options in order to deliver maximum value for its shareholders, which includes the potential sale of the company. Nostrum Oil & Gas is, on the announcement of the strategic review, in an offer period as defined in the Takeover Code.

 

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