Market Tracker weekly round-up—18 April 2019

Weekly round-up of the latest corporate announcements, including secondary offers by Yourgene Health plc and discoverIE Group plc, joint ventures between Intu properties plc and Cale Street Investments LP and AIB Group and First Data Corporation, a demerger by Trufin plc, capital reorganisations by MX Oil plc, PV Crystalox Solar plc and Trufin plc, returns of value by Trufin plc and Moneysupermarket.com Group plc, related party transactions by Yourgene Health plc and Trufin plc and 9 AGM notices

This weekly round-up covers all deals announced within our statement of scope from 12 noon on Friday 12 April 2019 until 12 noon on Thursday 18 April 2019. Any deals announced after this time will be included in our daily round-up when we resume service on 24 April 2019.

All transactions covered in this update are available on the Market Tracker deal analysis tool containing over 4,900 public company deal summaries.

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

New deals (and AGMs) announced:

AGMs

Announcement dateCompanyIndustry sectorKey information
18 April 2019Gamma Communications plcMedia & TelecommunicationsGamma Communications has announced that its 2019 AGM will be held on 22 May 2019.
16 April 2019Fresnillo plcMining, Metals & ExtractionFresnillo has announced that its 2019 AGM will be held on 21 May 2019.
16 April 2019Hill & Smith Holdings plcEngineering & ManufacturingHill & Smith Holdings has announced that its 2019 AGM will be held on 16 May 2019.
16 April 2019Next Fifteen Communications Group plcMedia & TelecommunicationsNext Fifteen Communications Group has announced that its 2019 AGM will held on 26 June 2019.
16 April 2019Restaurant Group plcTravel, Hospitality, Leisure & TourismRestaurant Group has announced that its 2019 AGM will be held on 17 May 2019
16 April 2019Secure Income REIT plcInvestmentSecure Income REIT has announced that its 2019 AGM will be held on 23 May 2019.
15 April 2019Hikma Pharmaceuticals plcPharmaceuticals & BiotechnologyHikma Pharmaceuticals has announced that its 2019 AGM will be held on 17 May 2019.
15 April 2019Mortgage Advice Bureau (Holdings) plcFinancial ServicesMortgage Advice Bureau (Holdings) has announced that its 2019 AGM will be held on 21 May 2019.
12 April 2019Sanne Group plcFinancial ServicesSanne Group plc has announced that its 2019 AGM will be held on 16 May 2019.

Capital reorganisations

Announcement dateCompanyIndustry sectorKey information
18 April 2019MX Oil plcOil & GasMX Oil announced it seeks shareholder approval to consolidate the ordinary shares of 1p for every 100 existing ordinary shares thereby reducing the number of shares in issue, after the issue of 36 shares, from 4,471,349,700 to 44,713,497.
17 April 2019PV Crystalox Solar plcEnergy & UtilitiesPV Crystalox Solar announced a reduction of capital of its share premium account and of the nominal value of the ordinary shares to enable the company to make a return of capital to shareholders of approximately £38.5 million in aggregate.
17 April 2019Trufin plcFinancial ServicesTrufin announced the sale of its stake in Zopa Group Limited to Arrowgrass Master Fund Ltd for a total cash consideration of £44.5 million, subject to Trufin shareholder approval at the general meeting on 17 May 2019.

Demergers

Announcement dateCompanyIndustry sectorKey information
17 April 2019TruFin plcFinancial ServicesTruFin has announced, subject to shareholder approval, the demerger of Distribution Finance Capital Limited (DFC) from TruFin to a new holding company, Distribution Finance Capital Holdings plc (DFC Holdings) to be admitted to trading on AIM. TruFin believes that this will maximise the opportunity for DFC to obtain a bank licence.

Joint ventures

Announcement dateDealIndustry sectorKey information
18 April 2019AIB Group and First Data CorporationBanking & FinanceAIB Group (AIB) and First Data Corporation (FDC) have announced a joint venture to acquire 95.9% of Payzone, a leading Irish fintech payments business. The joint venture, which will be 75% owned by AIB and 25% owned by FDC, will acquire the ownership interest in Payzone from existing shareholders including Carlyle Cardinal Ireland Fund for an enterprise value of up to £86.48 million.
18 April 2019intu properties plc and Cale Street Investments LP Investmentintu properties and Cale Street Investments have announced the establishment of a 50/50 joint venture for the intu Derby shopping centre.
Cale Street will acquire for cash the 50% interest for consideration which values their share of the property at £186.3 million, before taking account of senior debt finance and customary working capital adjustments. This structured equity transaction includes a prioritisation waterfall for distributions to the joint venture partners.

LR/AIM Rules transactions

Announcement dateCompanyIndustry sectorKey information
18 April 2019Yourgene Health plcPharmaceuticals & BiotechnologyYourgene Health has announced a related party transaction pursuant to Rule 13 of the AIM Rules for Companies in connection with the subscription by certain Yourgene Directors for 4,878,048 ordinary shares at the issue price of 10.25 pence per share.
17 April 2019TruFin plcFinancial ServicesTruFin has announced a related party transaction pursuant to Rule 13 of the AIM Rules for Companies.

Returns of value to shareholders

Announcement dateCompanyIndustry sectorKey information
18 April 2019Moneysupermarket.com Group plcMedia & TelecommunicationsMoneysupermarket.com Group announcedthat a special dividend of 7.46 pence per share will be paid on 21 May 2019 to shareholders.
17 April 2019Trufin plcFinancial ServicesTrufin announced that it is proposing a return of a minimum of £10 million to shareholders during 2019, with £5 million being returned by 30 June 2019 and the remaining £5 million by 31 December 2019.The return of value is subject to the completion of the demerger of Distribution Finance Capital Limited from TruFin.

Secondary offers

Announcement dateIssuerIndustry sectorKey information
18 April 2019Yourgene Health plcPharmaceuticals & BiotechnologyYourgene Health has announced that it has raised gross proceeds of approximately £11.83 million in aggregate before fees and expenses through a placing of 110,540,841 new ordinary shares of 0.1 pence each in the capital of the Company and the subscription by certain Yourgene Directors for 4,878,048 ordinary shares at the issue price of 10.25 pence per share.
16 April 2019discoverIE Group plcElectronicsdiscoverIE announced a proposed placing to raise gross proceeds of £29 million. The proposed placing consists of 7,309,867 shares at a price of 400 pence each. The placing is being conducted through an accelerated bookbuild.

 

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