Market Tracker weekly round-up—19 October 2018

Weekly round-up of the latest corporate announcements, including an IPO by JSC NAC Kazatomprom, a possible IPO by Sustainable Development Capital LLP, secondary offers by BioPharma Credit plc, Foresight Solar Fund Limited, AH Financial Group plc, Premier Technical Services Group plc, SolGold plc and Patisserie Holdings plc, a Class 1 transaction by Greencore Group plc, related party transactions under the AIM rules by Patisserie Holdings plc and Purplebricks Group plc, a joint venture between Active Energy Group plc and Georgia Renewable Power LLC, a reorganisation by Greencore Group plc, returns of value by Domino’s Pizza Group plc, Softcat plc and Greencore Group plc and AGM notices from JD Wetherspoon plc, ASOS plc, Softcat plc and Genus plc.

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.

All transactions covered in this update are available on the Market Tracker deal analysis tool containing over 4000 public company deal summaries.

The Market Tracker weekly bulletin looks in more detail at the latest transaction developments, mini trends and analysis of corporate deal documents. For trend reports and other analysis see our Trend Reports subtopic.

New deals (and AGMs) announced:

AGMs

Announcement date Company Industry sector Key information
17 October 2018 ASOS plc Retail & wholesale trade ASOS has announced that its 2018 AGM will be held on 29 November 2018.
17 October 2018 Softcat plc Computing & IT Softcat has announced that its 2018 AGM will be held on 6 December 2018.
16 October 2018 JD Wetherspoon plc Travel, hospitality, leisure & tourism JD Wetherspoon has announced that its 2018 AGM will be held on 15 November 2018.
12 October 2018 Genus plc Pharmaceuticals & biotechnology Genus has announced that its 2018 AGM will be held on 15 November 2018.

IPOs

Announcement date Issuer Industry sector Key information
17 October 2018 Sustainable Development Capital LLP Energy & utilities Sustainable Development Capital announcedthat the company is exploring the launch of a new UK investment trust through an IPO on the London Stock Exchange’s Main Market for listed securities. The launch of the trust is expected in November 2018.
15 October 2018 JSC NAC Kazatomprom Mining, metals & extraction JSC NAC Kazatomprom announced an intention to publish a registration document. The company expects that the registration document will be published in due course.

Joint ventures

Announcement date Deal Industry sector Key information
15 October 2018 Active Energy Group plc and Georgia Renewable Power LLC Energy & utilities Active Energy, the London quoted international biomass based renewable energy and forestry management business, has announced that it has entered into a joint venture agreement to instal CoalSwitch facilities with Georgia Renewable Power LLC, a US company that maintains three biomass-to-energy power plants located in North Carolina and under construction in Georgia.

LR/AIM Rules transactions

Announcement date Company Industry sector Key information
15 October 2018 Greencore Group plc Food & beverages Greencore Group announced a Class 1 transaction under the Listing Rules.
15 October 2018 Patisserie Holdings plc Food & beverages Patisserie Holdings announced a related party transaction under the AIM rules.
15 October 2018 Purplebricks Group plc Property Purplebricks Group announced a related party transaction under the AIM rules.

Reorganisations

Announcement date Company Industry sector Key information
15 October 2018 Greencore Group plc Food & beverages Greencore Group has announced a proposed share consolidation. The company proposes to undertake the consolidation to maintain comparability of the company’s share price before and after an announced special dividend. Further, the company is of the opinion that the share consolidation will allow historical and future financial information relating to the Greencore to be compared on a per-share basis before and after the special dividend.The share consolidation is conditional upon completion of the transaction to sell its US business.

Returns of value to shareholders

Announcement date Company Industry sector Key information
18 October 2018 Domino’s Pizza Group plc Travel, hospitality, leisure & tourism Domino’s Pizza has announced an additional £25 million share buyback programme. The purpose of the programme is to reduce the company’s share capital, any ordinary shares purchased will be cancelled. The share buyback programme will commence immediately.
17 October 2018 Softcat plc Computing & IT Softcat has announced a special dividend of 15.1 pence per share in addition to an ordinary dividend of 8.8 pence per share. Payment of the ordinary and special dividend is subject to shareholder approval at the company’s forthcoming AGM.
15 October 2018 Greencore Group plc Food & beverages Greencore Group has announced a special dividend of £509 million, equivalent to 72 pence per share. The special dividend is conditional upon completion of the transaction to sell its US business.

Secondary offers

Announcement date Issuer Industry sector Key information
19 October 2018 BioPharma Credit plc Pharmaceuticals & biotechnology BioPharma Credit announced a proposed placing under the company’s existing placing programme, as described in the prospectus published on 14 March 2018. The placing is expected to raise gross proceeds of approximately £114.89 million. The placing shares will be priced at 78 pence each. The proceeds of the placing will be used to further the company’s investment objectives. Admission is expected on 5 November 2018.
18 October 2018 Foresight Solar Fund Limited Investment Foresight Solar Fund announced the placing of 53,994,250 new shares, to raise approximately £58 million in gross proceeds. The company expects to have 548,941,550 ordinary shares in issue following admission. The net proceeds of the placing will be used to fund the purchase a portfolio of 11 operational assets that the company intends to acquire. Admission of the placing shares to trading is expected on 22 October 2018.
16 October 2018 AH Financial Group plc Investment AH Financial Group announced a proposed placing to raise gross proceeds of £15 million, with shares priced at 370 pence each. The placing will be conducted by way of an accelerated bookbuild. Admission of the placing shares to trading on AIM is expected on 19 October 2018.
16 October 2018 Premier Technical Services Group plc Professional services Premier Technical Services Group announcedthe placing of 12,698,414 shares in the company at a price of 157.5 pence per share. The estimated gross proceeds of the placing total £20 million. The placing shares are expected to be admitted to trading on AIM on 18 October 2018.
16 October 2018 SolGold plc Mining, metals & extraction SolGold announced a placement, where BHP Billiton Holdings Limited will subscribe for 100 million shares at a price of 45 pence to raise approximately £45 million in proceeds.
15 October 2018 Patisserie Holdings plc Food & beverages Patisserie Holdings announced a placing to raise gross proceeds of approximately £15 million. The company outlined that 30,000,000 new ordinary shares at a price of 50 pence per share would be placed by way of an accelerated bookbuild. The placing comprises a proposed firm placing of 10,000,000 placing shares and a conditional placing of 20,000,000 placing shares, subject to shareholder approval in the General Meeting, which is expected to be held as soon as is practically possible. Admission of the placing shares is expected on 18 October 2018.
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