Market Tracker weekly round-up—20 April 2018

Weekly round-up of the latest corporate announcements, including a recommended cash offer for Fidessa Group Limited by ION Investment Group Limited. a possible competing offer for Shire plc by Allergan plc, a recommended cash offer for Fidessa Group Limited by ION Investment Group Limited, a formal sale process by Ascent Resources plc, secondary offers by Weir Group plc, Honeycomb Investment Trust plc and Breedon Group plc, a reorganisation by Ferguson, a joint venture by Morgan Sindall Group and Hertfordshire County Council and 11 AGM notices.
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
19 April 2018 Alliance Pharma plc Pharmaceuticals & biotechnology Alliance Pharma has announced that its 2018 AGM will be held on 24 May 2018.
19 April 2018 Camellia plc Agriculture & forestry Camellia has announced that its 2018 AGM will be held on 7 June 2018.
19 April 2018 Hikma Pharmaceuticals plc Pharmaceuticals & biotechnology Hikma Pharmaceuticals has announced that its 2018 AGM will be held on 18 May 2018.
18 April 2018 Land Securities Group plc Investment Land Securities Group has announced that its 2018 AGM will be held on 12 July 2018.
18 April 2018 Sound Energy plc Oil & gas Sound Energy has announced that its 2018 AGM will be held on 24 May 2018.
17 April 2018 Smart Metering Systems plc Professional services Smart Metering Systems plc has announcedthat its 2018 AGM will be held on 23 May 2018.
17 April 2018 TBC Bank Group plc Banking & finance TBC Bank Group has announced that its 2018 AGM will be held on 21 May 2018.
16 April 2018 Midwich Group plc Professional services Midwich Group plc has announced that its 2018 AGM will be held on 14 May 2018.
16 April 2018 Coats Group plc Engineering & manufacturing Coats Group plc has announced that its 2018 AGM will be held on 16 May 2018.
13 April 2018 esure Group plc Financial services esure Group has announced that its 2018 AGM will be held on 17 May 2018.
13 April 2018 St. James's Place plc Financial services St. James's Place has announced that its 2018 AGM will be held on 23 May 2018.

Joint ventures

Announcement date Deal Industry sector Key information
17 April 2018 Morgan Sindall Group plc and Hertfordshire County Council Construction Morgan Sindall announced that Morgan Sindall Investments has agreed terms with Hertfordshire County Council (Council) to form a £2 billion joint venture property development partnership between the council's own property company, Herts Living Ltd and Morgan Sindall Investments' subsidiary, Community Solutions for Regeneration (Hertfordshire) Limited.
The partnership is 50:50 and will provide new homes and jobs across the county through a series of housing-led developments on the Council's surplus land.
The partnership agreement between Herts Living Ltd and CSRH is for 15 years, with the option to extend to a further five.

LR/AIM Rules transactions

Announcement date Company Industry sector Key information
Announcement date Company Industry sector Key information
19 April 2018 Weir Group plc Engineering & manufacturing Weir Group has announced a Related party transaction under the Listing Rules.
17 April 2018 Vedanta Resources plc Mining, metals & extraction Vedanta Resources has announced a Class 1 transaction under the Listing Rules.

Reorganisations

Announcement date Company Industry sector Key information
16 April 2018 Ferguson plc Professional services Ferguson plc has announced its intention to undertake a share consolidation of the company’s ordinary share capital.
The share consolidation will replace every 19 exiting ordinary shares with 18 new ordinary shares.
The purpose of the share consolidation is to maintain comparability of the company’s share price and earning metrics, before and after payment of the special dividend.

Returns of value to shareholders

Announcement date Company Industry sector Key information
20 April 2018 RELX plc and RELX N.V. Media & telecommunications RELX plc and RELX N.V. have announced a programme to repurchase their respective ordinary shares up to the value of £200 million in total between 19 April 2018 and 23 July 2018.
19 April 2018 Unilever plc Consumer products Unilever plc has announced a share buyback programme of up to £5,218,500,000 (€6 billion) to start in May 2018.

Secondary offers

Announcement date Issuer Industry sector Key information
20 April 2018 Weir Group plc Engineering and manufacturing Weir Group has announced a placing of 16,699,763 new ordinary shares at a price of 2,175 pence per share. The intended gross proceeds of the placing are £363 million. Admission is expected to be effective no later than 8.00am on 23 April 2018.
19 April 2018 Honeycomb Investment Trust plc Investment Honeycomb Investment Trust has announcedits intention to proceed with a placing of up to 9,523,809 ordinary shares in the company at an issue price of £10.50 per share pursuant to the terms and conditions of the placing programme set out in the company's prospectus published on 25 May 2017, as supplemented by a supplementary prospectus dated 8 March 2018.
17 April 2018 Breedon Group plc Construction Breedon Group plc has announced a placing, with the issue of 222,222,222 new shares, at a price of 76.5 pence per share. Breedon Group aims to raise £170.0m of gross proceeds.

Takeovers

Announcement date Deal Industry sector Key information
20 April 2018 Fidessa Group plc offer by ION Investment Group Limited Computing & IT ION Investment announced through its wholly owned subsidiary ION Capital UK a recommended all cash offer for the entire issued and to be issued share capital of Fidessa Group plc.The firm offer follows the possible offer made by ION Investment Group Limited on 3 April 2018.
The firm offer is an actual competing offer to Temons Group AG’s offer for Fidessa.
The offer is valued at £1.5 billion. The consideration is £38.703 in cash for each Fidessa share, this is a premium of  8.5% to the current offer price of £35.67 per Fidessa share from Temenos which was announced on 21 February 2018.
19 April 2018 Shire plc possible offer by Allergan plc Healthcare, pharmaceuticals & biotechnology Allergan has announced that it is in the early stages of considering a possible offer for Shire plc.
This is a possible competing offer to the bid for Shire from Japanese pharmaceutical company, Takeda Pharmaceuticals Limited.
The PUSU deadline is on 17 May 2018.
For further information, see deal summary: Shire plc-possible offer by Takeda Pharmaceuticals Limited
18 April 2018 Vipera plc offer by Banca Sella Holding S.p.A Banking & financeFinancial Services Sella Open Fintech Platform S.p.A, a wholly owned subsidiary of Banca Sella, announceda recommended cash offer for Vipera’s issued and to be issued share capital. The offer value is £24.03 million.Sella Open Fintech has been formed by Banca Sella to act as the holding company of its new innovative fintech business, of which Vipera is intended to form part.
The firm offer follows from the possible offer made by Banca Sella on 22 March 2018.
See deal summary: Vipera plc possible offer by Banca Sella Holding S.p.A
17 April 2018 Ascent Resources plc Oil & gas Ascent Resources announced that it was conducting a strategic review of its options and seeking potential offerors for the company by means of a formal sale process, putting the company into an offer period with immediate effect.
Filed Under: Round-ups

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