Market Tracker weekly round-up—24 February 2017

Weekly round-up of the latest corporate announcements, including a formal sale process initiated by Pebble Beach Systems Group plc, delistings by Pfizer Inc and North River Resources plc, returns of value to shareholders by Jupiter Fund Management plc, HSBC Holdings plc and InterContinental Hotels Group plc, and AGM notices from Centamin plc, Kaz Minerals plc and Standard Life plc.

New deals (and AGMs) announced:

AGMs

Announcement date Company Key information
24 February 2017 Standard Life plc Standard Life has announced that its 2017 AGM will be held on 16 May 2017.
23 February 2017 Kaz Minerals plc Kaz Minerals has announced that its 2017 AGM will be held on 27 April 2017.
22 February 2017 Beazley plc Beazley has announced that its 2017 AGM will be held on 24 March 2017.
20 February 2016 Centamin plc Centamin has announced that its 2017 AGM will be held on 21 March 2017.

Delistings

Announcement date Delisting company Key information
22 February 2017 Pfizer Inc Pfizer has announced that it has applied to the United Kingdom Listing Authority to cancel the standard listing of the company's common stock, and its trading, on the Main Market of the London Stock Exchange.
The company determined there is limited trading or liquidity of its common stock on the Main Market of the London Stock Exchange. The effective date of the cancellation is intended to be 23 March 2017. Following the delisting, the company will continue to list its common stock on the New York Stock Exchange under the symbol 'PFE'.
21 February 2017 North River Resources plc North River Resources has announced that it will seek the cancellation of the company's shares from trading on AIM.The main reason for delisting is the need to preserve the company's capital for developing a licensable mining project, as well as the apparently limited advantage of maintaining a listing, including factors such as a depressed share price and restricted share liquidity. The company's announcement will be followed by a circular including a notice of general meeting to shareholders, to consider approving the cancellation of the company's ordinary shares from trading on AIM. Cancellation will be conditional on obtaining shareholder approval.

Returns of value to shareholders

Announcement date Company Key information
24 February 2017 Jupiter Fund Management plc Jupiter Fund Management has announced a special dividend of 12.5p per share, to be paid on 7 April 2017 to shareholders on the register on 10 March 2017.
22 February 2017 HSBC Holdings plc HSBC Holdings announced a share buy-back of its ordinary shares of US$0.50 each during the period running from 22 February 2017 and ending no later than 30 June 2017, for up to a maximum consideration of US$1,000,000,000. The maximum number of ordinary shares that may be repurchased under the buy-back is 1,645,523,979.
The purpose of the buy-back is to reduce HSBC's outstanding ordinary shares.
21 February 2017 InterContinental Hotels Group plc InterContinental Hotels  announced a $400 million special dividend,  equating to US$2.025 per share.
The special dividend will be paid on 22 May 2017 to shareholders on the register on 5 May 2017. The ex-dividend date is 8 May 2017.
The sterling amount of the final and special dividend will be announced on 11 May 2017 using the average of the daily exchange rates from 8 May 2017 to 10 May 2017 inclusive.

Takeovers

Announcement date Deal Key information
23 February 2017 Pebble Beach Systems Group plc - formal sale process AIM-listed Pebble Beach Systems has announced that it is conducting a formal sale process, thereby commencing an offer period for the company.

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

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