Market Tracker weekly round-up—12 May 2017

Weekly round-up of the latest corporate announcements, including a takeover of Waterman Group plc, secondary offers by GB Group plc and Hastings Group Holdings plc, a reorganisation by RedstoneConnect plc, returns of value to shareholders by City of London Investment Group plc and Randall & Quilter Investment Holdings Ltd, and 7 AGMs.

New deals (and AGMs) announced:

AGMs

Announcement date Company Key information
12 May 2017 Tesco plc Tesco announced that its 2017 AGM will be held on 16 June 2017.
12 May 2017 Hurricane Energy plc Hurricane Energy announced that its 2017 AGM will be held on 7 June.
11 May 2017 BT Group plc BT Group announced that its 2017 AGM will be held on 12 July 2017.
10 May 2017 TalkTalk Telecom Group plc TalkTalk Telecom announced that its 2017 AGM will be held on 19 June 2017.
9 May 2017 Staffline Group plc Staffline Group announced that its 2017 AGM will be held on 18 May 2017.
9 May 2017 Advanced Medical Group plc Advanced Medical Group announced that its 2017 AGM will be held on 17 June 2017.
8 May 2017 International Consolidated Airlines Group S.A International Consolidated Airlines announced that its 2017 AGM will be held on 14 June 2017.

Reorganisations

Announcement date Company Key information
9 May 2017 RedstoneConnect plc RedstoneConnect announced a proposed 1:100 share consolidation and capital reduction.
Under the consolidation every 100 existing ordinary shares of 0.1p each will be consolidated into one new ordinary share of 10p each. The consolidation is being proposed as a result of the very large number of RedstoneConnect shares in issue.
The board is also seeking shareholder approval to effect a capital reduction, as the board believes cancellation of the legacy deferred shares (which have no voting rights or value), the company's share premium account and the capitalisation of the company's merger reserve and subsequent cancellation of the capital reduction shares to be issued on such capitalisation will allow the group to eliminate the accumulated losses and will provide distributable reserves giving greater flexibility for the payment of dividends in the future, the purchase by the company of its own shares and for other corporate purposes, if required.

Returns of value to shareholders

Announcement date Company Key information
9 May 2017 City of London Investment Group plc CLIG announced that on 8 May 2017, the company purchased for cancellation 35,000 ordinary shares of 1p each at a price of 365 pence per share.
9 May 2017 Randall & Quilter Investment Holdings Ltd. Randall & Quilter announced, a return of capital, subject to shareholder approval at a general meeting to be held on 1 June 2017.

Secondary offerings

Announcement date Issuer Key information
9 May 2017 GB Group plc GB Group  announced a vendor placing of up to 17,058,824 ordinary shares at 340 pence per share, to raise up to £58,000,000.
The placing is being conducted through an accelerated book build process which will be launched immediately.
8 May 2017 Hastings Group Holdings plc Hastings Group Holdings announced that Hastings Investco Limited (the Seller) intends to sell an aggregate of 35,000,000 ordinary shares in Hastings Group Holdings, at a price of 300.5 pence per share.
The placing shares are being offered by way of an accelerated bookbuild which will be launched immediately.

Takeovers

Announcement date Deal Key information
9 May 2017 Waterman Group plc—offer by CTI Engineering Co. Limited On 9 May 2017, Japan-incorporated CTI Engineering announced a recommended all-cash offer for Main Market-listed Waterman Group, structured by way of a contractual offer.Target shareholders are set to receive 140 pence per share, valuing the acquisition at £43 million.
The offer document is to follow.

The weekly round-up covers all deals announced from the Monday of the previous week until 2pm on the Friday of the previous week. Any deals announced after this time will be included in the following day's round-up.

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