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 date Company Industry sector Key information
22 June 2018 Tate & Lyle plc Retail & wholesale trade Tate & Lyle announced that its 2018 AGM will be held on 26 July 2018.
21 June 2018 B&M European Value Retail S.A. Retail & wholesale trade B&M European Value Retail announced that its 2018 AGM will be held on 30 July 2018.
20 June 2018 Halfords Group plc Retail & wholesale trade Halfords Group announced that its 2018 AGM will be held on 24 July 2018.
19 June 2018 Caledonia Investments plc Investment Caledonia Investment announced that its 2018 AGM will be held on 19 July 2018.
19 June 2018 RPC Group plc Engineering & manufacturing RPC Group announced that its 2018 AGM will be held on 18 July 2018.
19 June 2018 Telecom Plus plc Media & telecommunications Telecom Plus announced that its 2018 AGM will be held on 26 July 2018.
19 June 2018 Telford Homes plc Construction Telford Homes announced that its 2018 AGM will be held on 12 July 2018.
18 June 2018 Aveva Group plc Computing & IT Aveva announced that its 2018 AGM will be held on 11 July 2018.
18 June 2018 DS Smith plc Environmental services & waste management DS Smith announced that its 2018 AGM will be held on 4 September 2018.
18 June 2018 United Utilities Group plc Energy & utilities United Utilities announced that its 2018 AGM will be held on 27 July 2018.
15 June 2018 Dairy Crest Group plc Food & beverages Dairy Crest Group announced that its 2018 AGM will be held on 17 July 2018.
15 June 2018 FirstGroup plc Travel, hospitality, leisure & tourism FirstGroup announced that its 2018 AGM will be held on 17 July 2018.

Delistings

Announcement date Delisting company Industry sector Key information
15 June 2018 MBL Group plc Media & telecommunications MBL 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 date Issuer Industry sector Key information
18 June 2018 ASA International Banking & finance ASA International announced an intention to float on the main market for listed securities. Admission is expected in July 2018.
18 June 2018 RA International Group plc Professional services RA International announced an intention to float on AIM. Admission is expected to occur on 29 June 2018.

Reorganisations

Announcement date Company Industry sector Key information
18 June 2018 Braveheart Investment Group plc Financial services Braveheart 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 2018 Vivo Energy plc Retail & wholesale trade Vivo 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 date Company Industry sector Key information
19 June 2018 Telecom Plus plc Media & telecommunications Telecom Plus has announced an intention to buy back shares with an aggregate value of £4.7million.

Secondary offers

Announcement date Issuer Industry sector Key information
22 June 2018 Tri-Star Resources plc Mining, metals & extraction Tri-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 2018 UK Mortgages Limited Investment UK Mortgages Limited has announced its intention to issue new ordinary shares to raise £20 million.
19 June 2018 Alliance Pharma plc Pharmaceuticals & biotechnology Alliance 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 date Deal Industry sector Key information
18 June 2018 Virgin Money Holdings (UK) plc offer by CYBG plc Banking & finance CYBG 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.
Filed Under: Round-ups

Relevant Articles
Area of Interest