Market Tracker weekly round-up—22 June 2018

Market Tracker weekly round-up—22 June 2018

Weekly round-up of the latest corporate announcements, including a recommended all-share offer for Virgin Money Holdings (UK) plc by CYBG plc, IPOs by ASA International and RA International Group plc, secondary offers by Alliance Pharma plc, UK Mortgages Limited and Tri-Star Resources plc, a delisting by MBL Group plc, reorganisations by Braveheart Investment Group plc and Vivo Energy plc, a return of value to shareholders by Telecom Plus plc, and 12 AGM notices.
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.The information contained in the weekly round up is republished in the monthly round up at the end of the month. The Market Tracker monthly round-up—May 2018 is currently available. To access previous monthly round ups please visit the Monthly deal round-ups archive.

 

All transactions covered in this update are available on the Market Tracker deal analysis tool containing over 3000 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
22 June 2018Tate & Lyle plcRetail & wholesale tradeTate & Lyle announced that its 2018 AGM will be held on 26 July 2018.
21 June 2018B&M European Value Retail S.A.Retail & wholesale tradeB&M European Value Retail announced that its 2018 AGM will be held on 30 July 2018.
20 June 2018Halfords Group plcRetail & wholesale tradeHalfords Group announced that its 2018 AGM will be held on 24 July 2018.
19 June 2018Caledonia Investments plcInvestmentCaledonia Investment announced that its 2018 AGM will be held on 19 July 2018.
19 June 2018RPC Group plcEngineering & manufacturingRPC Group announced that its 2018 AGM will be held on 18 July 2018.
19 June 2018Telecom Plus plcMedia & telecommunicationsTelecom Plus announced that its 2018 AGM will be held on 26 July 2018.
19 June 2018Telford Homes plcConstructionTelford Homes announced that its 2018 AGM will be held on 12 July 2018.
18 June 2018Aveva Group plcComputing & ITAveva announced that its 2018 AGM will be held on 11 July 2018.
18 June 2018DS Smith plcEnvironmental services & waste managementDS Smith announced that its 2018 AGM will be held on 4 September 2018.
18 June 2018United Utilities Group plcEnergy & utilitiesUnited Utilities announced that its 2018 AGM will be held on 27 July 2018.
15 June 2018Dairy Crest Group plcFood & beveragesDairy Crest Group announced that its 2018 AGM will be held on 17 July 2018.
15 June 2018FirstGroup plcTravel, hospitality, leisure & tourismFirstGroup announced that its 2018 AGM will be held on 17 July 2018.

Delistings

Announcement dateDelisting companyIndustry sectorKey information
15 June 2018MBL Group plcMedia & telecommunicationsMBL Group plc has announced that it wishes to return cash to shareholders and provide for an orderly winding up of the company.  The board believes that this process would be achieved in the most efficient and cost-effective manner as a private company.  Therefore, the company has given notice to AIM under AIM Rule 41 that it intends to seek cancellation of its admission to trading on AIM at the earliest opportunity.
The company will issue further announcements as appropriate.

IPOs

Announcement dateIssuerIndustry sectorKey information
18 June 2018ASA InternationalBanking & financeASA International announced an intention to float on the main market for listed securities. Admission is expected in July 2018.
18 June 2018RA International Group plcProfessional servicesRA International announced an intention to float on AIM. Admission is expected to occur on 29 June 2018.

Reorganisations

Announcement dateCompanyIndustry sectorKey information
18 June 2018Braveheart Investment Group plcFinancial servicesBraveheart Investment Group has announceda proposed reduction of share capital by way of cancelling the whole of its share premium account thereby enabling the directors to consider the payment of dividends to its shareholders.
Shareholder approval will be sought at the company’s annual general meeting on 19 July 2018.
14 June 2018Vivo Energy plcRetail & wholesale tradeVivo Energy has announced the implementation of a reduction of capital sanctioned by the High Court on 12 June 2018.
Following the reduction of capital, the number of issued shares and the rights attaching to those shares remain unchanged. The purpose of the reduction of capital is to provide distributable reserves, which will allow the company to make dividend payments at an appropriate time in the future.

Reverse takeovers

Announcement dateCompanyIndustry sectorKey information
19 June 2018Telecom Plus plcMedia & telecommunicationsTelecom Plus has announced an intention to buy back shares with an aggregate value of £4.7million.

Secondary offers

Announcement dateIssuerIndustry sectorKey information
22 June 2018Tri-Star Resources plcMining, metals & extractionTri-Star Resources announced an equity placing to raise gross proceeds of £13.0 million by way of an accelerated bookbuilding process. The proceeds of the placing will be used to further Tri-Star’s share of additional shareholder investment in Strategic & Precious Metal Processing LLC. The bookbuild is expected to close on 25 June 2018.
21 June 2018UK Mortgages LimitedInvestmentUK Mortgages Limited has announced its intention to issue new ordinary shares to raise £20 million.
19 June 2018Alliance Pharma plcPharmaceuticals & biotechnologyAlliance Pharma announced an equity placing to raise gross proceeds of £34 million at an indicative placing price of 91 pence per placing share, to be confirmed pursuant to an accelerated bookbuild process.
The equity placing is intended to fund the acquisition of the exclusive marketing rights to Nizoral.

Takeovers

Announcement dateDealIndustry sectorKey information
18 June 2018Virgin Money Holdings (UK) plc offer by CYBG plcBanking & financeCYBG announced a recommended all-share offer for Virgin to create a combined company, structured by way of a scheme of arrangement. Following completion of the offer, Virgin Money Shareholders will own approximately 38 per cent of the combined group (on a fully diluted basis).The consideration value is 1.2125 New CYBG shares in exchange for each Virgin share. The offer value is £1.7 billion.
The recommended offer follows on from the possible offer announced by CYBG on 7 May 2018.

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