Market Tracker weekly round-up—31 May 2019

Weekly round-up of the latest corporate announcements, including recommended offers for Patagonia Gold plc by Hunt Mining Corp. and Stride Gaming plc by Rank Group plc, a possible IPO by Airtel Africa Limited, secondary offers by PetroTal Corp. and Totally plc, a delisting by Nautilus Marine Services plc, a Class 1 transaction under the Listing Rules by Aptitude Software Group plc and 8 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 5,000 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
31 May 2019Wizz Air Holdings plcTravel, Hospitality, Leisure & TourismWizz Air Holdings has announced that its 2019 AGM will be held on 24 July 2019.
30 May 2019Assura plcInvestmentAssura has announced that its 2019 AGM will be held on 2 July 2019.
30 May 2019Pennon Group plcOil & GasPennon Group has announced that its 2019 AGM will be held on 25 July 2019.
29 May 2019AVEVA Group plcComputing & ITAVEVA Group has announced that its 2019 AGM will be held on 8 July 2019.
29 May 2019Caledonia Investment plcInvestmentCaledonia Investment has announced that its 2019 AGM will be held on 24 July 2019.
29 May 2019JD Sports Fashion plcRetail & WholesaleJD Sports Fashion has announced that its 2019 AGM will be held on 3 July 2019.
29 May 2019M&C Saatchi plcMedia & TelecommunicationsM&C Saatchi has announced that its 2019 AGM will be held on 27 June 2019.
28 May 2019Amigo Holdings plcFinancial ServicesAmigo holdings has announced that its 2019 AGM will be held on 12 July 2019.

Delistings

Announcement dateDelisting companyIndustry sectorKey information
31 May 2019Nautilus Marine Services plcOil & GasNautilus Marine Services has announced that, as a result of a review of the benefits and drawbacks of being a quoted company, the board has concluded that the cancellation of admission of its ordinary shares to trading on AIM is in the best interests of the company and its shareholders as a whole.
The company is seeking shareholders' approval of the cancellation at the AGM to be held on 24 June 2019

IPOs

Announcement dateIssuerIndustry sectorKey information
28 May 2019Airtel Africa LimitedMedia & TelecommunicationsAirtel Africa has announced its potential intention to publish a registration document and to be admitted for trading on the Main Market of the London Stock Exchange under a premium listing.

LR/AIM Rules transactions

Announcement dateCompanyIndustry sectorKey information
30 May 2019Aptitude Software Group plcComputing & ITAptitude Software Group has announced that it has entered into an agreement to sell the entire issued share capital of its wholly-owned subsidiary, Microgen Financial Systems Limited to Moscow Bidco Limited, a newly incorporated private limited company controlled by funds advised by Silverfleet Capital Partners LLP, for an aggregate cash consideration of £51.0 million.
Due to its size, the disposal constitutes a Class 1 transaction under the Listing Rules and is therefore subject to the approval of shareholders. A circular containing further details of the proposed disposal and containing the notice convening a general meeting to consider a resolution to approve the disposal will be sent to Aptitude shareholders as soon as practicable.

Secondary offers

Announcement dateIssuerIndustry sectorKey information
31 May 2019PetroTal Corp.Oil & GasPetroTal announced its intention to issue new common shares in the Company to raise aggregate gross proceeds of not less than £15 million at a price of 15 pence per common share.
The placing will be conducted by way of an accelerated bookbuild and will only be made available to invited eligible institutional investors in certain specified jurisdictions. 
31 May 2019Totally plcHealthcareTotally announced its intention to conduct a placing with certain institutional and other investors to raise gross proceeds of up to £9 million at 10 pence per ordinary share, as well as an open offer of up to £1 million. The placing is being conducted through an accelerated bookbuilding process.

Takeovers

Announcement dateDealIndustry sectorKey information
31 May 2019Patagonia Gold plc offer by Hunt Mining Corp.Mining, Metals & ExtractionHunt Mining announced that it has reached agreement on the terms of a recommended share-for-share exchange offer to be made by Hunt Mining for the entire issued and to be issued share capital of Patagonia Gold. The offer is to be structured by way of a scheme of arrangement.The proposed combination of Patagonia Gold and Hunt Mining will result in scheme shareholders holding 80% of the combined group and Hunt shareholders holding 20% of the combined group.
31 May 2019Stride Gaming plc offer by Rank Group plcTravel, Hospitality, Leisure & TourismRank Group announced a recommended cash offer through its wholly owned subsidiary, Rank BidCo, for the entire issued and to be issued ordinary share capital of Stride Gaming. The offer is to be structured by way of a scheme of arrangement under Article 125 of the Companies (Jersey) Law 1991.The consideration value is £1.51 per share, valuing the entire fully diluted share capital of Stride at approximately £115.3 million.

 

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