Market Tracker weekly round-up—3 May 2019

Weekly round-up of the latest corporate announcements, including a possible offer for Share plc by Interactive Investor Services Limited, a possible IPO by Jewel Midco UK ltd, a secondary offer by Sirius Minerals plc, returns of value by Diversified Gas & Oil plc and Coca-Cola HBC AG, a reverse takeover by Range Resources limited, delistings by Chagala Group limited and Eight Peaks Group plc, a joint venture between ValiRx plc and Alpha Blue Ocean, a capital reorganisation by Hutchison China Meditech limited and 4 AGM notices.

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 4,900 public company deal summaries.

For trend reports and other analysis see our Trend Reports subtopic.

New deals (and AGMs) announced:

AGMs

Announcement dateCompanyIndustry sectorKey information
3 May 2019Card Factory plcRetail & Wholesale TradeCard Factory announced that its 2019 AGM will be held on 5 June 2019.
3 May 2019SAGA plcRetail & Wholesale TradeSAGA announced that its 2019 AGM will be held on 19 June 2019.
30 April 2019Advanced Medical Solutions Group plcHealthcareAdvanced Medical Solutions Group announced that its 2019 AGM will be held on 5 June 2019.
30 April 2019Sirius Minerals plcChemicalsSirius Minerals has announced that its 2019 AGM will be held on 13 June 2019.

Capital reorganisations

Announcement dateCompanyIndustry sectorKey information
3 May 2019Hutchison China Meditech LimitedPharmaceutical & BiotechnologyHutchison China Meditech announced that it is proposing to subdivide each existing ordinary share of £0.77 (US$1.00) each into 10 new ordinary shares of £0.08 (US$0.10) each. This will result in shareholders holding 10 new ordinary shares for each existing ordinary share they hold immediately prior to the subdivision.Subject to shareholders’ approval, the subdivision is expected to become effective at 8:00 a.m. London time on Thursday, May 30, 2019.

Delistings

Announcement dateDelisting companyIndustry sectorKey information
2 May 2019Eight Peaks Group plcFinancial ServicesEight Peaks announced the cancellation of their shares on AIM. The company stated that the proposals are in the best interest of shareholders, after considering the costs of maintaining trading in the shares on AIM. It is anticipated that cancellation will take effect on 31 May 2019.
30 April 2019Chagala Group ltdInvestmentChagala Group announced the cancellation of its shares from the Main Market of the LSE. The company announced that the legal and regulatory burden associated with maintaining the listing is disproportionate to the benefits of the listing. The listing will be cancelled in June 2019.

IPOs

2 May 2019Jewel UK Midco limitedConsumer ProductsJewel UK Midco announced an intention to publish a registration document and a potential intention to float. More information is expected in due course.

Joint ventures

Announcement dateDealIndustry sectorKey information
2 May 2019ValiRx plc and Alpha Blue OceanPharmaceuticals & BiotechnologyValirx has announced the acquisition of the global granted patents and intellectual property assets of FIT Biotech OY, for a nominal sum and a letter of intent agreement with Alpha Blue Ocean to establish a genetic therapeutic and diagnostic-based joint venture founded on the acquired technology. 

Returns of value to shareholders

Announcement dateCompanyIndustry sectorKey information
2 May 2019Coca-Cola HBC AGFood & BeveragesCoca-Cola has announced an additional special dividend of £1.72 (€2.00) per share. Further details on the special dividend (including the proposed record date and payment date) will be set out in the notice of the AGM that will be sent to shareholders at some point in May 2019.
30 April 2019Diversified Gas & Oil plcGas & OilDiversified Gas & Oil announced that the board has approved the terms of a share buyback programme to buy back the company's ordinary shares of 1 pence each with an aggregate market value of up to £52.8 million ($68.2 million). The company intends to conduct the buyback programme over the next 12 months.

Reverse takeovers

Announcement dateCompanyIndustry sectorKey information
30 April 2019Range Resources Limited acquisition of LandOcean Energy Services Co., LtdOil & GasRange Resources announced that it signed agreements with LandOcean Energy Services to undertake a comprehensive restructuring of the outstanding payable balances and convertible note between the two parties.The proposed acquisition, if completed, would constitute a reverse takeover under Rule 14 of the AIM Rules.

Secondary offers

Announcement dateIssuerIndustry sectorKey information
30 April 2019Sirius Minerals plcMining, Metals & ExtractionSirius Minerals announced a placing and open offer to raise gross proceeds of £350 million. The placing is underwritten. Admission is expected in May 2019.

Takeovers

Announcement dateDealIndustry sectorKey information
3 May 2019Share plc possible offer by Interactive Investor Services LimitedFinancial ServicesShare announced that it had received a possible offer from Interactive Investor Services.The PUSU deadline is on 31 May 2019.

 

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