Market Tracker weekly round-up—23 June 2017

Weekly round-up of the latest corporate announcements, including a formal sale process by Imagination Technologies Group plc and takeovers of Hornby plc and Gemfields plc, IPOs by Tatton Asset Management plc, GYG plc, Supermarket Income REIT plc and Greencoat Renewables plc, secondary offers by Shanta Gold Limited and IWG plc, LR/AIM Rules transactions by Wizz Air Holdings plc, Shanta Gold Limited and Sinclair Pharma plc and 13 AGM notices.

New deals (and AGMs) announced:

AGMs

Announcement date Company Key information
23 June 2017 Mediclinic plc Mediclinic has announced that its 2017 AGM will be held on 25 July 2017.
23 June 2017 SolGold plc SolGold has announced that its 2017 AGM will be held on 28 July 2017.
23 June 2017 Mitie Group plc Mitie has announced that its 2017 AGM will be held on 26 July 2017.
22 June 2017 Halma plc Halma has announced that its 2017 AGM will be held on 20 July 2017.
22 June 2017 Halfords Group plc Halfords has announced that its 2017 AGM will be held on 26 July 2017.
22 June 2017 B&M European Value Retail S.A B&M European has announced that its 2017 AGM will be held on 28 July 2107.
21 June 2017 PayPoint plc PayPoint has announced that its 2017 AGM will be held on 26 July 2017.
20 June 2017 Telford Homes plc Telford Homes has announced that its 2017 AGM will be held on 13 July 2017.
20 June 2017 Big Yellow Group plc Big Yellow has announced that its 2017 AGM will be held on 20 July 2017.
20 June 2017 Johnson Matthey plc Johnson Matthey has announced that its 2017 AGM will be held on 28 July 2017.
16 June 2017 Assura plc Assura has announced that its 2017 AGM will be held on 18 July 2017.
16 June 2017 Experian plc Experian has announced that its 2017 AGM will be held on 20 July 2017.
16 June 2017 United Utilities Group United Utilities has announced that its 2017 AGM will be held on 28 July 2017.

IPOs

Announcement date Issuer Key information
22 June 2017 Tatton Asset Management plc Tatton Asset Management has announced its intention to apply for admission of its issued and to be issued ordinary shares to trading on the AIM market of the London Stock Exchange.
The company has conditionally raised approximately £10.0 million (before expenses) from an institutional placing of 6,410,256 ordinary shares of £0.20 each in the capital of the Company at a placing price of 156 pence and approximately £41.6 million (before expenses) for selling shareholders by way of an institutional placing of 26,679,075 ordinary shares at a placing price of 156 pence.
Admission is expected to occur at 8 am on 6 July 2017 with a market capitalisation of £ 87.2 million.
21 June 2017 GYG plc GYG announced its proposed application for the admission of its entire issued share capital to trading on AIM. In addition, 6,944,692 new and 21,488,386 existing ordinary shares have been placed by Zeus Capital Limited at 100 pence per ordinary share.
Following the placing of the new ordinary shares, the group will have 46,640,000 ordinary shares in issue and the company is expected to have a market capitalisation of approximately £46.6 million on admission.
20 June 2017 Supermarket Income REIT plc Supermarket Income REIT announced its intention to launch an initial public offering of its shares on the specialist fund segment of the main market of the London Stock Exchange.
The company is seeking to raise up to £200 million by way of a placing and offer for subscription. The IPO proceeds will be used to acquire a diversified portfolio of supermarket real estate assets in the UK, providing long-term RPI-linked income, from institutional grade tenants of significant size and the potential for capital growth through active asset management opportunities. The company intends to become a real estate investment trust, once it has completed the acquisition of an initial portfolio of target assets.
19 June 2017 Greencoat Renewables plc Greencoat Renewables announced its intention to raise gross proceeds of up to €250 million and seek admission to trading of its ordinary shares on AIM and ESM markets of the London Stock Exchange plc and Irish Stock Exchange plc respectively.
On admission, by reference to the issue price (€1.00 per ordinary share), it is expected that the market capitalisation of the company will be approximately €250 million.

LR/AIM Rules transactions

Announcement date Company Key information
21 June 2017 Wizz Air Holdings plc Wizz Air has announced a class 1 transaction under the Listing Rules.
20 June 2017 Shanta Gold Limited Shanta Gold has announced a related party transaction under Rule 13 of the AIM Rules.
16 June 2017 Sinclair Pharma plc Sinclair Pharma has announced a related party transaction under Rule 13 of the AIM Rules.

Secondary offers

Announcement date Issuer Key information
20 June 2017 Shanta Gold Limited Shanta Gold announced a proposed capital raising to raise approximately US$14.0 million (£11.0 million) before expenses by way of placing and direct subscription.
The placing is being conducted through an accelerated bookbuilding process.
19 June 2017 IWG plc IWG announced that Estorn Limited, the holding company for Mark Dixon's shareholding in IWG, intentds to sell approximately 27.3 million existing ordinary shares of 1 pence each in IWG.The placing shares are held indirectly by Mark Dixon and represent approximately 3.0% of the Company's total issued ordinary share capital.
The placing shares are being offered by way of an accelerated bookbuild.

Takeovers

Announcement date Deal Key information
22 June 2017 Imagination Technologies Group plc—formal sale process Imagination Technologies has announced that it is 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.
21 June 2017 Hornby plc—offer by Phoenix UK Fund Ltd Phoenix UK Fund has announced a mandatory cash offer for AIM-listed Hornby.The acquisition is valued at £27.4 million.
20 June 2017 Gemfields plc—by Fosun Gold Holdings Limited Fosun Gold has announced a recommended all-cash offer for Gemfields, structured as a contractual offer.Target shareholders are set to receive 45 pence per share, valuing the acquisition at £256 million.
This is an actual competing offer to Pallinghurst Resources Limited's £211.45 million hostile offer for Gemfields, announced on 19 May 2017.

The weekly round-up covers all deals announced from 2pm on the Monday of the previous week until 2pm on the Monday of the current week. Any deals announced after this time will be included in the following day's round-up.

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