Market Tracker weekly round-up—26 October 2018

 

Weekly round-up of the latest corporate announcements, including a recommended cash offer by OSG Group Holdings, Inc. for Communisis plc, a secondary offer by Angling Direct plc, an IPO by finnCap Limited, a joint venture between Lloyds Banking Group plc and Schroders plc, a reverse takeover by Global Invacom Group Limited, returns of value by RELX plc and Plus500 Ltd, and an AGM notice from James Halstead plc.

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.

All transactions covered in this update are available on the Market Tracker deal analysis tool containing over 4000 public company deal summaries.

The Market Tracker weekly bulletin looks in more detail at the latest transaction developments, mini trends and analysis of corporate deal documents. For trend reports and other analysis see our Trend Reports subtopic.

New deals announced:

AGMs

Announcement date Company Industry sector Key information
19 October 2018 James Halstead plc Construction James Halstead announced that its 2018 AGM will be held on 7 December 2018.

IPOs

Announcement date Issuer Industry sector Key information
24 October 2018 finnCap Limited Financial services finnCap announced an intention to float on AIM. Admission is expected in early December.

Joint ventures

Announcement date Deal Industry sector Key information
23 October 2018 Lloyds Banking Group plc and Schroders plc Banking & finance Lloyds Banking Group and Schroders have announced that they will establish a new financial planning joint venture company (JV) for affluent customers. Lloyds will own 50.1% of the share capital and Schroders the remaining 49.9%. The JV will address the growing gap in the advice market through a personalised, advice-led proposition, backed by world-class investment expertise and best in class technology.

Returns of value to shareholders

Announcement date Company Industry sector Key information
25 October 2018 RELX plc Media & telecommunications RELX has announced a non-discretionary share buyback programme to repurchase its ordinary shares up to the value of approximately £50 million. When this programme concludes on 5 December 2018 RELX will have returned £700 million to shareholders this calendar year. The programme will operate in accordance with the authority granted by shareholders at the company’s most recent AGM.
23 October 2018 Plus500 Ltd Financial Services Plus500 has announced a share buyback programme to repurchase up to approximately £7.7 million of the company’s shares. The programme will operate in accordance with the authority granted by shareholders at the company’s most recent AGM.

Reverse takeovers

Announcement date Company Industry sector Key information
24 October 2018 Global Invacom Group Limited acquisition of Tactilis Sdn. Bhd. Computing & IT Global Invacom Group announced as on 23 October 2018, entered into a conditional sale and purchase agreement (SPA) with Tactilis Pte. Limited, pursuant to which the GLobal Invacom will acquire the entire issued and paid-up share capital of Tactilis Sdn. Bhd. held by Tactilis Pte on the terms and subject to the conditions of the SPA. The Proposed Acquisition, if completed, is expected to result in a very substantial acquisition or a reverse-takeover of the Company pursuant to Rule 1015 of the Mainboard Listing Manual of the Singapore Exchange Securities Trading Limited. The Proposed Acquisition, if completed, would also constitute a reverse takeover for the purposes of the AIM Rules for Companies

Secondary offers

Announcement date Issuer Industry sector Key information
24 October 2018 Angling Direct plc Retaill & wholesale trade Angling Direct announced a placing with institutional investors to raise approximately £20.0 million before expenses through the issue of 21,622,200 new shares at a price of 92.5 pence per share. The placing is conditional upon approval of the shareholders. The company’s General Meeting will be held on 9 November 2018.

Takeovers

Announcement date Deal Industry sector Key information
23 October 2018 Communisis plc offer by OSG Group Holdings, Inc. Professional services OSG Group announced , through its a wholly owned subsidiary OSG Bidco Limited, a recommended all cash offer.The offer value is £153.8 million for the entire issued and to be issued share capital of Communisis structured by way of a scheme of arrangement.
Communisis shareholders will be entitled to receive 0.71 pence in cash for each Communisis share.
Filed Under: Round-ups

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