Market Tracker weekly round-up—17 February 2017

Weekly round-up of the latest corporate announcements, including an IPO by Xafinity plc, secondary offers by Atlas Mara Limited and RWS Holdings plc, reverse takeovers of Simian Global plc proposed acquisition of GVC Holdings Limited, Shanks Group plc proposed merger Van Gansewinkel Group, reorganisations by LGO Energy plc and KEFI Minerals plc, a return of value to shareholders by Fidessa Group plc and LR/AIM Rules transaction by Glencore plc.

New deals announced:

IPOs

Announcement date Issuer Key information
14 February 2017 Xafinity plc Xafinity announced its intention to proceed with an initial public offering. The company has conditionally raised £179.6 million before expenses from an institutional placing of 129,207,141 ordinary shares at an offer price of 139 pence and has applied for admission of its ordinary shares to the premium listing segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange plc's main market for listed securities.
Admission is expected to occur at 8.00 am on 16 February 2017 with a market capitalisation of £190.3 million.

LR/AIM Rules transactions

Announcement date Company Key information
13 February 2017 Glencore plc Glencore has announced a related party transaction under Chapter 11 of the Listing Rules.

Reverse takeovers

Announcement date Company Key information
17 February 2017 Simian Global plc proposed acquisition of GVC Holdings Limited Simian Global has announced that it has signed a non-binding letter of intent to acquire the entire issued share capital of GVC Holdings Limited. The Acquisition will constitute a Reverse Takeover under the Listing Rules.
15 February 2017 Shanks Group plc proposed merger Van Gansewinkel Group Shanks Group has announced  that Shanks Group has now received all necessary approvals from the relevant competition authorities in the Netherlands in relation to the proposed merger with Van Gansewinkel Group.

Reorganisations

Announcement date Company Key information
15 February 2017 LGO Energy plc LGO Energy announced a proposed share capital reorganisation by way of a consolidation and sub-division of its shares.
The company currently has 8,367,599,626 existing ordinary shares in issue. The directors consider that it is in the best interests of the company's long term development as a public quoted company to have a more manageable number of issued ordinary shares and to a level which is more in line with other comparable AIM-traded companies.
Under the proposals, every 20 existing ordinary shares will be consolidated into one consolidated share. This will be followed by an immediate sub-division of each consolidated share into one new ordinary share of 0.05p each and one deferred share of 0.95p each.
13 February 2017 KEFI Minerals plc KEFI Minerals announced a proposed share consolidation in order to reduce the number of ordinary shares that are in issue to a level more in line with other comparable AIM listed companies.
Under the proposed consolidation, every 17 existing ordinary shares will be consolidated into one new ordinary share.

Return of value to shareholders

Announcement date Company Key information
13 February 2017 Fidessa Group plc Fidessa announced a special dividend of 50 pence per share and, if approved by shareholders, will be paid on 8 June 2017 to shareholders on the register on 12 May 2017, with an ex-dividend date of 11 May 2017.

Secondary offers

Announcement date Issuer Key information
16 February 2017 Atlas Mara Limited Atlas Mara announced that it has successfully agreed to raise funds equivalent to approximately 9.99% of the company's current issued share capital, by way of a placing of 7,034,934 ordinary shares of no par value at a price of $1.9125 per placing share, raising gross proceeds of $13,454,310 (approximately £10,772,928.31).
The proceeds of the placing will be used by the company to support the operational growth of the company through the rollout and expansion of the company's global markets and treasury business, scaling up its digital finance business, and for general corporate purposes.
14 February 2017 RWS Holdings plc RWS Holdings announced a placing of 12,100,000 new ordinary shares at a placing price of 330 pence per share, with new and existing investors, to raise proceeds of approximately £40 million before expenses. The new ordinary shares represent approximately 5.6% of the company's existing ordinary share capital.The net proceeds of the placing will be used to fund part of the consideration due payable for the acquisition of LUZ, Inc., a life sciences language services provider based in San Francisco.
The placing will also allow the company to maintain a strong balance sheet with a sensible gearing level.
The weekly round-up covers all deals announced from 2pm on the Monday of the previous week until 2pm on the Monday of the current week. Any deals announced after this time will be included in the following day's round-up.

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