Market Tracker weekly round-up—27 January 2017

Weekly round-up of the latest corporate announcements, including an IPO by Impact Healthcare REIT plc, a joint venture between Beximco Pharmaceuticals Limited and BioCare Manufacturing (M) Sdn Bhd, a reorganisation by Liontrust Asset Management Plc, a return of value to shareholders by Mortgage Advice Bureau (Holdings) plc; secondary offers by Countryside Properties plc, McBride plc, Kromek Group plc, SDX Energy Inc, and Oakley Capital Investments Limited; a LR/AIM Rules transaction by Rio Tinto plc and AGM notices from Watkin Jones plc and RWS Holdings plc.

New deals announced:

AGMs

Announcement date Company Key information
24 January 2017 Watkin Jones plc Watkin Jones has announced that its 2017 AGM will be held on 16 February 2017.
23 January 2017 RWS Holdings plc RWS Holdings has announced that its 2017 AGM will be held on 14 February 2017.

IPOs

Announcement date Company Key information
24 January 2017 Impact Healthcare REIT plc Impact Healthcare REIT announced its intention to undertake an initial public offering of its shares on the specialist fund segment of the main market of the London Stock Exchange.
The company is targeting the issue of ordinary shares for £160 million by way of a placing, an offer for subscription and a vendor Issue. It is expected that a prospectus in respect of the Issue will be published today.

Joint ventures

Announcement date Parties Key information
25 January 2017 Beximco Pharmaceuticals Limited and BioCare Manufacturing (M) Sdn Bhd Beximco Pharmaceuticals has announced the creation of a 30:70 joint venture with BioCare Manufacturing.Under the terms of the joint venture, Beximco Pharmaceuticals will provide full technical support to BioCare Manufacturing for the establishment of manufacturing facilities in Seri Iskandar Pharmaceutical Park, Perak, Malaysia to produce specialised pharmaceutical products. Beximco will be issued 30% of the equity shares in the JV company.  BioCare will operate and fund the facility.

LR/AIM Rules transactions

Announcement date Company Key information
27 January 2017 Tesco plc Tesco has announced a class 1 under Chapter 10 of the Listing Rules.
24 January 2017 Rio Tinto plc Rio Tinto has announced a related party transaction under Chapter 11 of the Listing Rules.

Reorganisations

Announcement date Company Key information
25 January 2017 Liontrust Asset Management Plc Liontrust has announced a proposed share capital reorganisation by way of a reduction of capital.The proposed capital reduction will cancel the company's share premium account, creating distributable reserves which will be available for the directors to use for the purposes of paying dividends and/or buying back ordinary shares (should circumstances in the future make it desirable to do so).
The proposed capital reduction is conditional upon shareholder approval being given at the company's general meeting on 22 February 2017.

Returns of value to shareholders

Announcement date Company Key information
27 January 2017 Mortgage Advice Bureau (Holdings) plc Mortgage Advice Bureau (Holdings) has announced a special dividend of 1.1 pence per share to be paid on 3 March 2017 to shareholders on the register at close of business on 10 February 2017.

Secondary offers

Announcement date Issuer Key information
27 January 2017 Countryside Properties plc Countryside Properties announced that a major shareholder, Oaktree Capital Management LP, successfully placed 45,000,000 ordinary shares in the company at a price of 230 pence per placing share, raising gross proceeds of approximately £103.5 million. The placing shares represent approximately 10% of the company's existing issued share capital. The company will not receive any proceeds from the placing.
Following completion of the placing, the selling shareholder will hold 207,373,009 ordinary shares in the company, representing approximately 46.1% of the company's issued share capital. These shares are subject to a lock-up which ends 90 days after completion of the placing (subject to waiver by the joint bookrunners and to certain exceptions).
26 January 2017 McBride plc McBride announced that a shareholder, Copper Rock Capital Partners LLC, successfully placed 8,400,000 ordinary shares in the company, at a placing price of 150 pence per ordinary share to institutional investors, raising approximately £12.6 million before expenses.The placing represents approximately 4.6% of the company's entire issued share capital. The company will not receive any proceeds from the placing.
25 January 2017 Kromek Group plc Kromek Group announced a firm placing of 100,000,000 new ordinary shares at an offer price of 20 pence per new ordinary share, and an open offer of an aggregate of 5,129,536 offer shares on a 1-for-30 basis, at 20 pence per new ordinary share.Altogether, the firm placing and open offer are expected to raise up to £21 million before expenses. The firm placing and open offer has been undertaken with new and existing institutional investors.
The offer price of 20 pence per new ordinary share is at no discount to the closing middle market price of 20 pence per existing ordinary share on 24 January 2017.
The net proceeds will strengthen the company's balance sheet and provide working capital for the company to support future growth.
25 January 2017 SDX Energy Inc. SDX Energyannounced the placing of 107,056,351 new ordinary shares at an issue price of 30 pence per new ordinary share to new and existing investors, and is expected to raise approximately £32.1 million before expenses.The gross proceeds of the placing will be applied towards the acquisition of Circle Assets, further working capital and the costs of the acquisition and placing.
The new ordinary shares will represent approximately 57.28% of the total issued ordinary share capital in the company on admission.
24 January 2017 Oakley Capital Investments Limited Oakley Capital Investments announced a placing of 15,000,000 treasury shares in the company at a price of 157 pence per ordinary share to institutional investors, to raise gross proceeds of approximately £23.55 million.The treasury shares sold under the placing will rank pari passu in all respects with the other ordinary shares in issue. The net sale proceeds will be invested in line with the company's investing policy.

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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