Market Tracker weekly round-up—15 June 2018

Weekly round-up of the latest corporate announcements, including possible offers by Echostar Corporation for Inmarsat plc and Apax Partners LLP for BCA Marketplace plc, IPOs by Tritax EuroBox plc, Ashok India Equity Investment Trust plc, Mind Gym Limited and Stenprop Limited, secondary offers by Petro Matad Limited, The Gym Group plc, Rathbone Brothers plc and B.P. Marsh & Partners plc, a proposed reverse takeover by Diversified Gas & Oil plc, a return of value by British Land Company plc, a related party transaction by Anglo American plc and a reorgranisation by Georgia Capital plc. 11 companies announced the date of their AGM.
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.The information contained in the weekly round up is republished in the monthly round up at the end of the month. The Market Tracker monthly round-up—May 2018 is currently available. To access previous monthly round ups please visit the Monthly deal round-ups archive.

All transactions covered in this update are available on the Market Tracker deal analysis tool containing over 3000 public company deal summaries.

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

New deals (and AGMs) announced:

AGMs

Announcement date Company Industry sector Key information
13 June 2018 QinetiQ Group plc Aerospace & defence QinetiQ Group has announced that its 2018 AGM will be held on 25 July 2018.
13 June 2018 Young & Co's Brewery plc Travel, hospitality, leisure & tourism Young & Co's Brewery has announced that its 2018 AGM will be held on 10 July 2018.
12 June 2018 British Land Company plc Investment British Land Company has announced that its 2018 AGM will be held on 17 July 2018.
12 June 2018 Halma plc Electronics Halma has announced that its 2018 AGM will be held on 19 July 2018.
12 June 2018 Iomart Group plc Computing & IT Iomart Group has announced that its 2018 AGM will be held on 28 August 2018.
12 June 2018 LondonMetric Property plc Investment LondonMetric Property has announced that its 2018 AGM will be held on 11 July 2018.
12 June 2018 Workspace Group plc Investment Workspace Group has announced that its 2018 AGM will be held on 13 July 2018.
11 June 2016 Homeserve plc Professional services Homeserve has announced that its 2018 AGM will be held on 20 July 2018.
11 June 2016 Renewi plc Environmental services & waste management Renewi has announced that its 2018 AGM will be held on 12 July 2018.
8 June 2016 J Sainsbury plc Retail & wholesale trade J Sainsbury has announced that its 2018 AGM will be held on 11 July 2018.
8 June 2016 NEX Group plc Financial services NEX Group has announced that its 2018 AGM will be held on 11 July 2018.

IPOs

Announcement date Issuer Industry sector Key information
14 June 2018 Tritax EuroBox plc Investment Tritax EuroBox announced an intention to float on the specialist fund segment of the main market of the London Stock Exchange. The gross proceeds of the admission are expected to raise up to £300 million. The IPO will consist of a placing, offer for subscription and an intermediaries offer. Admission is expected in early July.
12 June 2018 Ashok India Equity Investment Trust plc Investment Ashok India Equity Investment Trust hasannounced its intention to launch an IPO on the premium segment of the Main Market of the London Stock Exchange. The estimated gross proceeds of the issue is £100 million, by way of a placing, offer for subscription and intermediaries offer of ordinary shares. Admission is expected in early-mid July 2018.
12 June 2018 Mind Gym Limited Travel, hospitality, leisure & tourism Mind Gym has announced its intention to list on AIM.
11 June 2018 Stenprop Limited Property
Investment
Stenprop has announced an IPO on the specialist fund segment of the main market. 291,718,476 ordinary shares will be issued as part of the transaction. Admission to trading is expected to take place at 8.00am on 15 June 2018.

LR/AIM Rules transactions

Announcement date Company Industry sector Key information
14 June 2018 Anglo American plc Mining, metals & extraction Anglo American plc has announced a related party transaction under the Listing Rules.

Reorganisations

Announcement date Company Industry sector Key information
12 June 2018 Georgia Capital plc Financial services Georgia Capital plc has announced that its planned reduction of capital became effective on 12 June 2018. The nominal value of each of the company’s 39,384,714 ordinary shares has been reduced from £12.70 to £0.01.

Returns of value to shareholders

Announcement date Company Industry sector Key information
14 June 2018 British Land Company plc Investment British Land Company plc has announced that it has committed £200 million to purchase shares in the company during the current financial year.

Reverse takeovers

Announcement date Company Industry sector Key information
14 June 2018 Diversified Gas & Oil plc Oil & Gas Diversified has announced that it has signed a non-binding letter of intent to acquire a network of further gas and oil producing assets in the Appalachian Basin for a total cash consideration of approximately $575 million.
If it proceeds, the acquisition will constitute a reverse takeover in accordance with Rule 14 of the AIM Rules for Companies and will be subject to approval by shareholders.

Secondary offers

Announcement date Issuer Industry sector Key information
14 June 2018 Petro Matad Limited Oil & gas Petro Matad announced a placing by way of an accelerated bookbuild to raise gross proceeds of £12.7 million. The shares will be placed at a price of 10 pence per share. The proceeds of the placing are intended to finance the drilling of two additional wells, and for general capital purposes.
14 June 2018 The Gym Group plc Travel, hospitality, leisure & tourism The Gym Group announced an equity placing to raise gross proceeds of £24 million. The placing is intended to fund the acquisition of easyGym. The placing is not conditional on completion of the acquisition.
14 June 2018 Rathbone Brothers plc Investment Rathbone Brothers announced a placing to raise approximately £60 million. The placing will be conducted through an accelerated bookbuild process. The proceeds are intended to fund Rathbone Brothers’ acquisition of Speirs & Jeffrey.
12 June 2018 B.P. Marsh & Partners plc Investment B.P. Marsh has announced a proposed placing and open offer. A total of 6,169,194 shares will be placed to a new investor, an entity in the PSC Insurance Group, to raise £15.5 million in gross proceeds. In addition, 595,238 will be issued as part of an open offer to all qualifying shareholders. It is intended that the open offer will raise proceeds of £1.5 million.

Takeovers

Announcement date Deal Industry sector Key information
10 June 2018 BCA Marketplace plc possible offer by Apax Partners LLP Professional services Apax announced it is in the preliminary stages of considering a possible offer for BCA to be made by a new entity controlled by funds advised by Apax. The possible offer was rejected by the boards of BCA.
The PUSU deadline is on 8 July 2018.
8 June 2018 Inmarsat plc possible offer by Echostar Corporation Media & telecommunications Inmarsat has announced it received and rejected a possible offer by Echostar Corporation for its entire issued, and to be issued, share capital.The PUSU deadline is on 6 July 2018.
Filed Under: Round-ups

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