Market Tracker weekly round-up—3 March 2017

Weekly round-up of the latest corporate announcements, including a secondary offerings by Totally plc, Randall & Quilter Investment Holdings Ltd and Actual Experience plc; joint ventures by Alexander Mining plc and Dr. Nicholas Welham, Rentokil Initial plc and PCI Pest Control Pvt. Ltd., return of value to shareholders by Sportech plc, Moneysupermarket.com Group plc, a LR/AIM Rules transaction by and Sportech plc and 13 AGM notices.

New deals announced:

AGMs

Announcement date Company Key information
2 March 2017 Glencore plc Glencore has announced that its 2017 AGM will be held on 24 May 2017
2 March 2017 Hastings Group plc Hastings Group has announced that its 2017 AGM will be held on 25 May 2017.
2 March 2017 Smurfit Kappa Group plc Smurfit Kappa Group has announced that its 2017 AGM will be held on 5 May 2017.
2 March 2017 Henderson Group Henderson has announced that its 2017 AGM will be held on 27 April 2017.
2 March 2017 Nichols plc Nichols has announced that its 2017 AGM will be held on 26 April 2017.
2 March 2017 Spire Healthcare Group plc Spire Healthcare has announced that its 2017 AGM will be held on 26 May 2017.
2 March 2017 Travis Perkins plc Travis Perkins has announced that its 2017 AGM will be held on 24 May 2017.
1 March 2017 Paddy Power Betfair Paddy Power has announced that its 2017 AGM will be held on 17 May 2017.
1 March 2017 Senior plc Senior has announced that its 2017 AGM will be held on 22 April 2017.
1 March 2017 Evraz plc Evraz has announced that its 2017 AGM will be held on 20 June 2017.
1 March 2017 Man Group plc Man Group has announced that its 2017 AGM will be held on 5 May 2017.
1 March 2017 Rio Tinto plc Rio Tinto has announced that its 2017 AGM will be held on 14 April 2017.
28 February 2017 Provident Financial plc Provident has announced that its 2017 AGM will be held on 12 May 2017.

Joint ventures

Announcement date Deal Key information
2 March 2017 Alexander Mining plc and Dr. Nicholas Welham Alexander Mining has announced that it has entered into an agreement to form a joint venture with Dr. Nicholas Welham (Alexander's Principal Technology Consultant for ammoniacal and hypochlorous acid leaching) to investigate the potential recovery of lithium from lithium bearing minerals.
28 February 2017 Rentokil Initial plc and PCI Pest Control Pvt. Ltd. Rentokil Initial has announced has announced that it has entered into an agreement to form a joint venture with PCI Pest Control and to acquire a 57% stake in the new joint venture, for an undisclosed sum.
As part of the transaction, the Rentokil Initial will merge its Indian business into the joint venture. The combined business will be the largest provider of pest control services and products in India.

LR/AIM Rules transactions

Announcement date Company Key information
2 March 2017 Sportech plc Sportech has announced a class 1 transaction under the Listing Rules.

Returns of value to shareholders

Announcement date Company Key information
2 March 2017 Sportech plc Sportech has announced that its board has resolved to return approximately £20 million to shareholders by way of a tender offer to be implemented during the current tax year.The tender offer will be effected by using the company's existing authorities to repurchase ordinary shares and is therefore not subject to shareholder approval.
1 March 2017 Moneysupermarket.com Group plc Moneysupermarket has announced that it will begin a new programme to repurchase ordinary shares in the capital of the company during the period from 1 March 2017 to 13 December 2017.
The sole purpose of the share buy-back programme is to reduce the share capital of the company.
The maximum allocated to the share buy-back programme is £40 million and the maximum number of ordinary shares that will be purchased is 54,752,150.

Secondary offers

Announcement date Issuer Key information
28 February 2017 Actual Experience plc Actual Experience hasannounced a proposed placing of 7,200,000 placing shares at a placing price of 250 pence per share with existing and new investors, to raise approximately £17.5 million and £0.5 million before expenses, for the company and selling shareholders, respectively.The company intends to apply the net proceeds of the placing, estimated at £16.9 million, to expand and increase the skill base of the company's core employee teams, scale the operational support environment as the teams increase their deployment, and fund general working capital requirements.
The placing is conditional on, inter alia, on the company obtaining approval from its shareholders to disapply statutory preemption rights and to grant the company authority to allot the new ordinary shares.
28 February 2017 Randall & Quilter Investment Holdings Ltd Randall & Quilter Investment Holdings hasannounced a placing of 14,423,591 placing shares at a placing price of 117 pence per placing share with certain institutional shareholders and directors, to raise approximately £16.9 million before expenses. The placing shares represent approximately 20% of the issued ordinary share capital of the company prior to the placing.The placing price represents a discount of approximately 2.9% to the closing price of 120.5 pence on 27 February 2017, being the latest practicable date prior to this announcement.
The placing is conditional upon the passing of certain resolutions. A circular is expected to be posted on 2 March 2017, notifying shareholders of the general meeting which will be convened on 27 March 2017 at 3:00pm.
The net proceeds of the placing, estimated at £16.3 million, will be used for a mixture of capital contributions to the company's associated carriers and acquisition projects.
27 February 2017 Totally plc Totally has announced a placing of 30,909,091 new ordinary shares and an open offer of 1,819,462 new ordinary shares, both at an issue price of 55 pence, to raise up to approximately £18 million before expenses, with new and existing institutional investors.
The open offer will be made to qualifying shareholders on the basis of 1-for-11 existing ordinary shares.
The issue price of 55 pence per new ordinary share represents a 5% discount to the mid-market price of 58 pence per existing ordinary share on 24 February 2017, being the latest practicable business day prior to the date of this announcement.
The net proceeds of the placing and open offer will be used to drive the company's strategy, focused on becoming a leading out-of-hospital healthcare provider in the UK.

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.

Relevant Articles
Area of Interest