Market Tracker weekly round-up—16 March 2018

Market Tracker weekly round-up—16 March 2018
Weekly round-up of the latest corporate announcements, including a recommended firm offer for Stellar Diamonds plc by Newfield Resources Limited, a formal sale process by Vernalis plc, a possible offer for NEX Group plc by CME Group, Inc., IPOs by The SimplyBiz Group plc. Performatrix plc, Kore Potash plc, and Gore Street Energy Storage Fund plc, secondary offers by Oxford Biomedica plc, PureTech Health plc, Yu Group plc and Diurnal Group plc, a demerger by Prudential plc, a reduction of capital announced by Aggregated Micro Power Holdings plc, a special dividend proposed by Morrison (Wm) Supermarkets plc, a Class 1 transaction by GKN plc, and related party transactions by Flowtech Fluidpower plc, PureTech Health plc and Tavistock Investments plc. 16 companies announced the date of their AGM.
The weekly round-up covers all deals announced from the Monday of the previous week 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. To access previous announcements please visit the Market Tracker section of the Corporate homepage.

 

New deals (and AGMs) announced:

AGMs

Announcement date Company Industry sector Key information
15 March 2018 Fidelity European Values plc Investment Fidelity European Values has announced that its 2018 AGM will be held on 14 May 2018.
15 March 2018 Just Group plc Financial services Just Group has announced that its 2018 AGM will be held on 17 May 2018.
15 March 2018 Phoenix Group Holdings plc Financial services Phoenix Group Holdings has announced that its 2018 AGM will be held on 2 May 2018.
14 March 2018 EMIS Group Plc Computing & IT Emis has announced that its AGM will be held on 1 May 2018.
14 March 2018 Marshalls plc Construction Marshalls has announced that its AGM will be held on 9 May 2018.
14 March 2018 UBM plc Media & telecommunications UBM has announced that its AGM will be held on 15 May 2018.
13 March 2018 Antofagasta plc Mining, metals & extraction Antofagasta has announced that its 2018 AGM will be held on 23 May 2018.
13 March 2018 Cairn Energy plc Oil & gas Cairn Energy has announced that its 2018 AGM will be held on 15 May 2018.
13 March 2018 Fevertree Drinks plc Consumer products Fevertree Drinks has announced that its 2018 AGM will be held on 17 May 2018.
13 March 2018 Grafton Group plc Professional services Grafton Group has announced that its 2018 AGM will be held on 9 May 2018.
13 March 2018 Hunting plc Oil & gas Hunting has announced that its 2018 AGM will be held on 18 April 2018.
13 March 2018 Lancashire Holdings Limited Financial services Lancashire Holdings has announced that its 2018 AGM will be held on 2 May 2018.
13 March 2018 TP ICAP plc Financial services TP ICAP has announced that its 2018 AGM will be held on 10 May 2018.
12 March 2018 Clarkson plc Transport Clarkson has announced that its 2018 AGM will be held on 10 May 2018.
12 March 2018 Polymetal International plc Mining, metals and extraction Polymetal International has announced that its 2018 AGM will be held on 25 April 2018.
9 March 2018 Johnson Service Group plc Professional services Johnson Service Group has announced that its 2018 AGM will be held on 3 May 2018.

Demergers

Announcement date Company Industry sector Key information
14 March 2018 Prudential plc Financial services Prudential has announced its intention to demerge its UK & Europe business ('M&G Prudential') from Prudential plc, resulting in two separately-listed companies with different investment characteristics and opportunities. On completion of the demerger, shareholders will hold interests in both Prudential plc and M&G Prudential.
Prudential plc's dividend policy will remain unchanged through the separation period. Following the demerger, Prudential plc will remain headquartered in the UK and retain its premium listing on the London Stock Exchange, its primary listing in Hong Kong, and other listings in Singapore and New York. M&G Prudential will be headquartered in the UK and hold a premium listing on the London Stock Exchange.
In preparation for the UK demerger process, and to align the ownership of the Group's businesses with their operating structures, Prudential plc intends to transfer the legal ownership of its Hong Kong insurance subsidiaries from The Prudential Assurance Company Limited (M&G Prudential's UK regulated insurance entity) to Prudential Corporation Asia Limited, which is expected to complete by the end of 2019.

IPOs

Announcement date Issuer Industry sector Key information
16th March 2018 The SimplyBiz Group plc Financial Services The SimplyBiz Group has announced its intention to float on the London Stock Exchange. The company conditionally raised £30.0 million from an institutional placing of 17,647,149 ordinary shares at a placing price of 170 pence, and £34.6 million for selling shareholders by way of an institutional placing of 20,362,228 ordinary shares at a placing price of 170 pence. The expected market capitalisation is £130 million.
15 March 2018 Kore Potash plc Mining, metals & extraction Kore Potash plc has announced its intention to float on the AIM market, with admission expected at the end of March.
15 March 2018 Performatrix plc Computing & IT Performatrix has announced its intention to raise £126,700,000 in an initial public offering on the AIM Market. Admission is expected to take place in early April, with a market capitalisation of £231,700,000.
12 March 2018 Gore Street Energy Storage Fund plc Investment Gore Street Energy Storage Fund has announced its intention to float on the premium segment of the Official List of the UK Listing Authority and to trading on the Main Market of the London Stock Exchange.

Joint ventures

Announcement date Deal Industry sector Key information
15 March 2018 Veltyco Group plc & eSports.com Travel, hospitality, leisure & tourism Veltyco Group has announced it has entered into a joint venture with eSports.com to join forces in a blockchain project.
The purpose of the project is to create an infrastructure to bring members and/or customers of communities (sports, gaming, playing) to a fully transparent technological platform.  The platform will seek to transfer data such as know your client regulated information, but also historical data, in a decentralised manner and could, in the future, be combined with automated payments.

LR/AIM Rules transactions

Announcement date Company Industry sector Key information
16 March 2018 Tavistock Investments plc Financial services Tavistock Investments has announced a related party transaction under the AIM Rules.
14 March 2018 Flowtech Fluidpower plc Engineering & manufacturing Flowtech Fluidpower has announced a related party transaction under the AIM Rules.
12 March 2018 PureTech Health plc Pharmaceuticals & biotechnology PureTech Health has announced a related party transaction under the Listing Rules.
9 March 2018 GKN plc Engineering & manufacturing GKN has announced a Class 1 transaction under the Listing Rules.

Reorganisations

Announcement date Company Industry sector Key information
16 March 2018 Aggregated Micro Power Holdings plc Energy & utilities Aggregated Micro Power Holdings has announced a proposed reduction of capital.
Aggregated Micro Power Holdings plc aims to eliminate the profit and loss deficit and create distributable reserves for the company by cancelling the amount standing to the credit of the share premium account and transferring it to the company’s profit and loss account.

Returns of value to shareholders

Announcement date Company Industry sector Key information
14 March 2018 Morrison (Wm) Supermarkets plc Morrison (Wm) Supermarkets announced its intention to pay shareholders a special dividend of 4 pence per share.
Subject to shareholder approval at our 2018 AGM, the special dividend of 4.00 pence per share respectively will be payable on 28 June 2018 to shareholders on the share register at the close of business on 25 May 2018.

Secondary offers

Announcement date Issuer Industry sector Key information
14 March 2018 Diurnal Group plc Pharmaceuticals & biotechnology Diurnal Group has announced that it is raising approximately £10 million through a placing of 1,578,557 VCT Shares and 3,684,600 General Shares at a price of 190 pence per share. Diurnal Group plc has announced that it is raising approximately £10 million through a placing of 1,578,557 VCT Shares and 3,684,600 General Shares at a price of 190 pence per share.
14 March 2018 Yu Group plc Oil & gas Yu Group has announced that it raised £12.0 million through a placing of 1,200,000 new ordinary shares of £0.05 each in the Company at a price of £10.0 per Placing share.
13 March 2018 PureTech Health plc Pharmaceuticals & biotechnology PureTech Health has announced a placing to raise gross proceeds of up to £72 million (approximately $100 million) through the issue of new ordinary shares in the Company.
The placing is being conducted through an accelerated bookbuilding process.
9 March 2018 Oxford Biomedica plc Pharmaceuticals & biotechnology Oxford Biomedica has announced its intention to raise approximately £20.5 million, before expenses, by way of a conditional placing with new and existing investors through the issue of up to 174,346,817 new ordinary shares at a price of 11.75 pence per placing share to fund the expansion of its bioprocessing facilities.

Takeovers

Announcement date Deal Industry sector Key information
15 March 2018 NEX Group plc possible offer by CME Group, Inc. Financial services NEX Group has announced it received an approach of a possible offer from CME Group, Inc. The PUSU deadline is on 12 April 2018.
15 March 2018 Vernalis plc- formal sale of process Pharmaceuticals & biotechnology Vernalis has announced a strategic review including a formal of sale process. Vernalis is considered to be in an offer period. The board has appointed Evercore Partners International LLP as financial adviser to assist with the review.
12 March 2018 Stellar Diamonds plc offer by Newfield Resources Limited Mining, metals & extraction Newfield Resources Limited has announced a £7.74 million recommended all-share offer for Stellar Diamonds plc to be implemented by way of a scheme of arrangement.
This follows the possible offer announced on 1st February 2018. See deal summary: Stellar Diamonds plc possible offer by Newfield Resources Limited.

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