Market Tracker weekly round-up—13 April 2017

Weekly round-up of the latest corporate announcements, including an IPO by Ten Entertainment Group plc, secondary offerings by BNN Technology plc, Dorcaster plc and Pan African Resources plc, a transfer from the Main Market to AIM by Opera Investments plc, a reverse takeover by Dorcaster plc, a delisting by AquaBounty Technologies, Inc., and 12 AGM notice’s.

New deals (and AGMs) announced:

AGMs

Announcement date Company Key information
13 April 2017 G4S plc G4s has announced that its 2017 AGM will be held on 25 May 2017.
12 April 2017 Sound Energy plc Sound Energy has announced that its 2017 AGM will be held on 23 May 2017.
12 April 2017 Ibstock plc Ibstock has announced that its 2017 AGM will be held on 24 May 2017.
12 April 2017 Cineworld Group plc Cineworld Group has announced that its 2017 AGM will be held on 18 May 2017.
12 April 2017 Derwent London plc Derwent London has announced that its 2017 AGM will be held on 19 May 2017.
11 April 2017 IWG plc IWG has announced that its 2017 AGM will be held on 16 May 2017
11 April 2017 Balfour Beatty plc Balfour Beatty has announced that its 2017 will be held on 18 May 2017.
11 April 2017 Fresnillo plc Fresnillo has announced that its 2017 will be held on 23 May 2017.
11 April 2017 Antofagasta plc Antofagasta has announced that its 2017 will be held on 24 May 2017.
11 April 2017 Old Mutual plc Old Mutual has announced that its 2017 will be held on 25 May 2017.
10 April 2017 Capita plc Capita has announced that its 2017 AGM that will be held on 11 May 2017.
10 April 2017 Gamma Communications plc Gamma Communications has announced that its 2017 will be held on 22 May 2017.

Delistings

Announcement date Company Key information
7 April 2017 AquaBounty Technologies, Inc. AquaBounty announced that it has made an application to the London Stock Exchange to cancel the admission to trading of the company's shares on AIM.
The cancellation will be subject to approval by the company's shareholders at its AGM to be held on 23 May 2017. The proposed cancellation date is 1 June 2017.

IPOs

Announcement date Issuer Key information
12 April 2017 Ten Entertainment Group plc Ten Entertainment announced that is has published a prospectus in connection with its initial public offering and placing of 16,250,000 shares at a price of 165 pence per share.
The Company's entire issued share capital of 65,000,000 shares will be admitted to the premium listing segment of the Official List of the FCA and to trading on the main market for listed securities of the London Stock Exchange.
On commencement of conditional dealings the Company will have a market capitalisation of £107.25 million.

Reorganisations

Announcement date Company Key information
13 April 2017 Onzima Ventures plc Onzima Ventures has announced a proposed share capital reorganisation by way of a consolidation and sub-division of its existing ordinary shares. The share capital reorganisation is being proposed in connection with a proposed acquisition of 51% of N4 Pharma Limited and capital raising of £1.5 million through a firm placing.Under the share capital reorganisation every 800 existing ordinary shares will be consolidated into 1 new ordinary share and each resulting 1 new ordinary share will be subsequently sub-divided into 200 new ordinary shares of 0.4p each
The proposed share capital reorganisation is conditional upon shareholder approval being given at the company's general meeting on 2 May 2017.

Reverse takeovers

Announcement date Company Key information
13 April 2017 Dorcaster plc acquisition of Experiential Ventures Ltd Dorcaster has announced the proposed acquisition of Experiential Ventures.The acquisition constitutes a reverse takeover for the purposes of the AIM rules and is therefore subject to Dorcaster shareholder approval.

Secondary offers

Announcement date Issuer Key information
13 April 2017 BNN Technology plc BNN Technology has announced a proposed placing via an accelerated bookbuild, raising gross proceeds of £25 million.
Under the placing, a total of 31,250,000 new ordinary shares of par value £0.10 each in the company have been conditionally placed at a price of 80 pence per placing share.
The net proceeds of the placing will be used in conjunction with existing resources to invest in a student services platform and credit rating services platform, and for general working capital purposes.
13 April 2017 Dorcaster plc Dorcaster has announced a proposed conditional placing of 10,370,370 placing shares of 1.25 pence each at 135 pence per share, raising gross proceeds of £14 million (£10.8 million net of expenses).
The proceeds of the placing will be used to fund the cash consideration payable pursuant to the proposed acquisition of Experiential Ventures Ltd and associated costs and expenses, as well as working capital.
12 April 2017 Pan African Resources plc Pan African Resources announced a proposed placing to existing and new institutional investors of 291,480,983 new ordinary shares of 1 pence each at an issue price of 14 pence per placing share, raising gross proceeds of £40,807,337.62.
The placing is being conducted, subject to the satisfaction of certain conditions, through an accelerated bookbuilding process. The net proceeds of the placing will be used in conjunction with the RMB facility to fund the US$120 million total capital expenditure to bring Elikhulu into production. The balance of the net proceeds will be used for general working capital.

Transfers from the Main Market to AIM

Announcement date Company Key information
11 April 2017 Opera Investments plc Opera Investments announced that, as part of a proposed transaction to acquire the Imweru and Lubando Gold Projects from Kibo Mining plc, Opera Investments intends to apply to the UK Listing Authority and London Stock Exchange plc, requesting the cancellation of admission of the company's shares to the standard segment of the UKLA's Official List and to trading in the company's shares on the LSE's main market for listed securities and will seek admission to AIM of the enlarged share capital of Investments.
The cancellation is expected to take effect from 8:00 am on 15 May 2017, being the anticipated completion date for the proposed transaction and admission of the company's shares to trading on AIM.

The weekly round-up covers all deals announced from 2pm on Friday 7 April until 2pm on Thursday 13 April. Any deals announced after this time will be included in the following day's round-up.

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