Market Tracker weekly round-up—4 May 2018

Weekly round-up of the latest corporate announcements, including a possible offer by Abcam plc for Horizon Discovery Group plc, an IPO by Horizon Housing REIT plc, secondary offerings by Charles Taylor plc, EVR Holdings plc, Gresham House plc, and Springfield Properties plc, a delisting by Gloo Networks plc, a related party transaction by Gresham House plc, a reduction of capital by Thruvision Group plc, a share consolidation by Oxford BioMedica plc and share buybacks by HSBC Holdings plc, Aviva plc and Paddy Power Betfair plc.

The weekly round-up covers all deals announced from the Monday of the previous week 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.

The information contained in the weekly round up is republished in the monthly round up at the end of the month. To access previous monthly round ups please visit the Market Tracker topic on the Corporate homepage.

All transactions covered in this update are available on the Market Tracker deal analysis tool containing over 3000 public company deal summaries.

For specific analysis and commentary on some of the key deals currently being tracked by Market Tracker, in particular certain noteworthy public company takeovers and equity capital market transactions, see Market Tracker—key deal analysis and latest developments .

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

New deals announced:

Delistings

Announcement date Delisting company Industry sector Key information
3 May 2018 Gloo Networks plc Investment Gloo Networks has announced that it has concluded that it is in the best interests of shareholders to return Gloo's remaining capital by means of a voluntary liquidation of the company.
A circular convening a General Meeting to approve the appointment of a liquidator and the cancellation of the company's admission to trading on the AIM Market (delisting) is expected to be distributed by the board on Friday 11 May 2018. The delisting will occur no earlier than 5 June 2018.

IPOs

Announcement date Issuer Industry sector Key information
30 April 2018 Horizon Housing REIT plc Property Horizon Housing announced the publication of a prospectus in relation to a placing and open offer for subscription of ordinary shares of 1 pence in the capital of the company, and the issue of 56.54 million shares to East Riding Pension Fund. The company aims to issue 125 million shares at 100 pence per share, with a view to raise gross proceeds of £125 million.

LR/AIM Rules transactions

Announcement date Company Industry sector Key information
2 May 2018 Gresham House plc Investment Gresham House has announced a related party transaction under the AIM Rules.

Reorganisations

Announcement date Company Industry sector Key information
4 May 2018 Oxford BioMedica plc Pharmaceuticals Oxford BioMedica plc has announced a proposed share consolidation of the existing ordinary share capital of the company.
The effect of the proposed consolidation will be to reduce the number of issued ordinary shares in the company by a factor of 50 whilst increasing the trading price of each existing ordinary share.
Implementation of the consolidation requires the approval of shareholders at the company’s general meeting on 29 May 2018.
1 May 2018 Thruvision Group plc Professional services Thruvision Group plc has announced the completion of a reduction of capital.
The sums of £109,078,000 standing to the credit of the share premium account of the Company and £4,786,000 standing to the credit of the capital redemption reserve of the Company were cancelled thereby creating distributable reserves.

Returns of value to shareholders

Announcement date Company Industry sector Key information
4 May 2018 HSBC Holdings plc Banking & finance HSBC Holdings plc has announced its intention to initiate a share buyback of up to £1,470,647,098.07 ($2 billion) in 2018.
1 May 2018 Aviva plc Financial services Aviva plc announced the commencement of a share buy back programme that will end no later than 31 December 2018.
The company will buy back its ordinary shares for up to a maximum aggregate consideration of £600 million.
2 May 2018 Paddy Power Betfair plc Travel, hospitality, leisure & tourism Paddy Power Betfair plc has announced its intention to return £500 million of cash to shareholders over the next 12 to 18 months via a share buyback programme.

Secondary offers

Announcement date Issuer Industry sector Key information
3 May 2018 Charles Taylor plc Professional services Charles Taylor announced a placing of up to 6,770,875 new ordinary shares of 1 pence each, representing 9.75% of the current issued share capital of the company. The company aims to raise gross proceeds of £17.6 million. The placing will be conducted through an accelerate bookbuild process.
The company plans to use the proceeds of the placing to fund the acquisition of Inworx, and the remainder of the net proceeds will be used for general corporate purposes and to provide financial capacity for future acquisitions.
2 May 2018 EVR Holdings plc Media & telecommunications EVR Holdings announced the successful placing of 125,000,000 primary placing shares at a price of 16 pence per new ordinary share. The company also announced that a number of selling shareholders have each sold 15,625,000 ordinary shares in the company at the placing price. Application has been made to the London Stock Exchange for the shares to be admitted to trading on AIM at 8.00am on 3 May 2018.
2 May 2018 Gresham House plc Financial services Gresham House plc announced a placing to raise gross proceeds of approximately £15 million, to be raised via a placing with an issue price of 410 pence per placing share. Completion of the placing will be conditional upon approval by shareholders at the General Meeting.
2 May 2018 Springfield Properties plc Property Springfield Properties plc announced a placing of 125,000,000 placing shares with new and existing investors at 120 pence per placing share. The net proceeds of the placing will be used to partially re-finance the initial cash consideration in relation to the company’s acquisition of Dawn Homes.

Takeovers

Announcement date Deal Industry sector Key information
2 May 2018 Horizon Discovery Group plc possible offer by Abcam plc Pharmaceuticals & biotechnology Abcam announced a possible offer for Horizon Discovery. Horizon Discovery rejected the offer. The possible offer values the entire issued and to be issued share capital of Horizon Discovery at £270 million. The consideration is valued at 180 pence per Horizon Discovery share satisfied by the issue of new shares in Abcam.

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