Market Tracker weekly round-up—28 September 2018

Market Tracker weekly round-up—28 September 2018

Weekly round-up of the latest corporate announcements, including secondary offers by Clinigen Group plc, eServGlobal Limited, Tufton Oceanic Assets Limited, Applegreen plc, DCC plc, and Huntsworth plc, IPOs by M&G Credit Income Investment Trust plc, PetroTal Corp and Trian Investors 1 Limited, returns of value by Card Factory plc and Glencore plc, a delisting by Nature Group plc and an AGM notice from Abcam 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 (and AGMs) announced:

AGMs

Announcement date Company Industry sector Key information
21 September 2018 Abcam plc Pharmaceuticals & biotechnology Abcam has announced that its 2018 AGM will be held on 6 November 2018.

Delistings

Announcement date Delisting company Industry sector Key information
28 September 2018 Nature Group plc Oil & gas Nature Group has announced that following the suspension of the company’s shares on AIM on 27 March, the ordinary shares in the company have been cancelled as of 7.00 a.m. on 28 September. The board has not yet managed to finalise any deal to secure the future of the company, but is exploring all opportunities to realise value for shareholders.

IPOs

Announcement date Issuer Industry sector Key information
27 September 2018 M&G Credit Income Investment Trust plc Investment M&G Credit Income Investment Trust announced the publication of a prospectus in connection with an initial placing, offer for subscription and intermediaries offer. The company aims to issue 250 million ordinary shares at a price of £1.00 per share to raise gross proceeds in excess of £250 million. Admission is expected on 14 November.
26 September 2018 PetroTal Corp. Mining, metals & extraction PetroTal announced an intention to seek a secondary quotation of its shares with their admission to trading on AIM. The company expects that the shares will begin trading on AIM by the end of the year.
24 September 2018 Trian Investors 1 Limited Investment Trian Investors 1 announced the publication of the company’s prospectus, and an intention to float on the London Stock Exchange’s Main Market. The company intends to issue 250,000,000 shares at a price of £1.00 per share. Admission is expected on 27 September 2018.

Returns of value to shareholders

Announcement date Company Industry sector Key information
25 September 2018 Card Factory plc Retail & wholesale trade Card Factory announced a special dividend of £17.1 million, equivalent to 5.00 pence per share. This is in addition to an interim dividend of 2.9 pence per share (£10.2 million) and will be paid on 9 November 2018.
25 September 2018 Glencore plc Mining, metals & extraction Glencore announced an increase and extension to the company’s current share buy-back programme. An additional £759 million will be returned to shareholders in accordance with the terms of the authority granted at Glencore’s 2018 AGM.

Secondary offers

Announcement date Issuer Industry sector Key information
28 September 2018 Applegreen plc Retail & wholesale trade Applegreen announced the proposed placing to raise approximately £156 million in gross proceeds. The company confirmed that it expects to issue 28,782,895 new ordinary shares at a placing price of 543 pence per share. The placing proceeds are intended to part fund the consideration for the company’s acquisition of Welcome Break. Admission of the placing shares is expected on 25 October 2018.
28 September 2018 DCC plc Support services DCC announced the results of itd placing and confirmed that a total of 8,904,500 new shares had been placed by J.P. Morgan Securities plc, at a price of 6,800 pence per placing share. The company has raised gross proceeds of £686 million. Admission of the shares is expected on 1 October 2018.
28 September 2018 Huntsworth plc Healthcare Huntsworth announced that a total of 16,560,604 new ordinary shares have been placed at a price of 109.5 pence per placing share, raising gross proceeds of approximately £18.1 million. Admission is expected on 2 October 2018.
27 September 2018 Clinigen Group plc Pharmaceuticals & biotechnology Clinigen Group announced a placing to raise gross proceeds of up to £80 million. The placing shares are being offered by way of an accelerated bookbuild. Admission is expected on 1 October 2018.
27 September 2018 eServGlobal Limited Computing & IT eServGlobal announced the placing of 304,000,000 shares, at a price of £6.25 per share. The company aims to raise gross proceeds of £19 million through the placing. Admission is expected on 4 October 2018.
26 September 2018 Tufton Oceanic Assets Limited Investment Tufton Oceanic Assets announced a proposed placing and offer for subscription for a target issue of up to 100 million C shares at a price of £0.75 a share. Admission of the shares to trading is expected on 16 October 2018.

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