Market Tracker weekly round-up—5 October 2018

Weekly round-up of the latest corporate announcements, including a possible offer by the Consortium for Intu Properties plc, IPOs by Gresham House Energy Storage Fund plc, Eurotorg Holdings plc and Summerway Capital plc, secondary offers by Burford Capital Limited and Alpha FX Group plc, a return of value by M.P. Evans Group plc, a reorganisation by Altona Energy plc and Randall & Quilter Investment Holdings Ltd, a joint venture between Botswana Diamonds plc and Vast Resources plc, delistings of Metminco Limited and Greka Drilling Limited and AGM notices from Go-Ahead Group plc, Greencore Group plc and Close Brothers Group 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 3000 public company deal summaries.For trend reports and other analysis see our Trend Reports subtopic.

New deals (and AGMs) announced:

AGMs

Announcement date Company Industry sector Key information
1 October 2018 Close Brothers Group plc Banking & finance Close Brothers has announced that its 2018 AGM will be held on 15 November 2018.
28 September 2018 Go-Ahead Group plc Travel, hospitality, leisure & tourism Go-Ahead has announced that its 2018 AGM will be held on 1 November 2018.
28 September 2018 Greencore Group plc Food & beverages Greencore has announced that its 2019 AGM will be held on 29 January 2019.

Delistings

Announcement date Delisting company Industry sector Key information
4 October 2018 Metminco Limited Mining, metals & extraction Metminco has announced an intention to cancel the admission to trading of its shares on AIM. Metminco’s shares were suspended on AIM on 19 September, and will not be traded again before cancellation. Shares continue to be listed and traded on the ASX platform, and UK shareholders will be able to trade their shares once holdings registration and broker system arrangements in Australia have been made.The delisting will be effective from 7:00 am on 17 October 2018.
1 October 2018 Greka Drilling Limited Oil & gas Greka Drilling has announced, further to its interim results, that it intends to cancel its listing on AIM. The directors have concluded that the benefits of maintaining the company’s admission to AIM do not justify the costs. This is due to the company’s low market capitalisation and the company’s ordinary shares suffering from limited liquidity. The delisting is subject to shareholder approval at an EGM being held on 17 October 2018.

IPOs

Announcement date Issuer Industry sector Key information
5 October 2018 Eurotorg Holdings plc Retail Eurotorg Holdings announced an intention to publish a registration document and an expected intention to float on London Stock Exchange’s Main Market. The company aims to raise £152.978 million in gross proceeds through the offer. Admission is expected on 11 October 2018.
5 October 2018 Summerway Capital plc Investment Summerway Capital announced an intention to list on AIM. Admission is expected by the end of October 2018.
4 October 2018 Gresham House Energy Storage Fund plc Investment Gresham House Energy Storage Fund announced an intention to float a fund, on the London Stock Exchange’s Main Market. The fund is seeking to raise gross proceeds of up to £200 million. Admission of the shares to trading is expected in early November 2018.

Joint ventures

Announcement date Deal Industry sector Key information
4 October 2018 Botswana Diamonds plc and Vast Resources plc Mining, metals & extraction Botswana Diamonds announced that it has concluded an agreement with Vast Resources, the AIM listed mining and resource development company, for the development of their concessions in the prolific Marange Diamond Fields (MDF) of eastern Zimbabwe. A separate agreement will cover the joint development of diamond properties outside of the MDF, which will be a straightforward 50/50 joint venture, though the initial focus of the joint work is on the MDF.

Reorganisations

Announcement date Company Industry sector Key information
2 October 2018 Altona Energy plc Mining, metals & extraction Altona Energy has announced a share consolidation. Every one thousand of the existing ordinary shares of £0.0001 each currently in issue will be consolidated into one new ordinary share with a nominal value of £0.1. The rationale is to ensure no confusion is caused.
5 October 2018 Randall & Quilter Investment Holdings Ltd Financial Services Randall & Quilter has announced a proposed return of capital. Shareholders will be issued one AA share for each ordinary share held, the AA shares will then be cancelled and the holder will receive 3.6 pence per share. The return of capital (including the creation and capitalization of the AA Shares and the reduction of capital) is subject to shareholder approval at the general meeting on 30 October 2018.

Returns of value to shareholders

Announcement date Company Industry sector Key information
2 October 2018 M.P. Evans Group plc Food & beverages M.P. Evans announced a share buy-back programme of £1 million. The board believe the current share price undervalues the group’s assets, performance and future prospects so therefore intends to utilise a robust balance sheet to take advantage of market conditions. The programme will have a duration of up to 3 months, and will be operated in accordance with the terms of the authority granted by shareholders at the 2018 AGM.

Secondary offers

Announcement date Issuer Industry sector Key information
3 October 2018 Alpha FX Group plc Financial services Alpha FX Group announced a placing by way of an accelerated bookbuild, to raise gross proceeds of up to £20 million. The placing shares will be priced at 620 pence per share. The company expects the proceeds of the placing to facilitate future growth opportunities. Admission of the placing shares to trading on AIM is expected on 8 October 2018.
2 October 2018 Burford Capital Limited Investment
Professional services
Burford Capital announced a placing to raise approximately £192.6 million in gross proceeds, by way of an accelerated bookbuild. The company announced that the shares are priced at 1850 pence per share. The placing shares represent approximately 5% of the issued ordinary share capital of the company. Admission of the placing shares to AIM is expected on 4 October 2018.

Takeovers

Announcement date Deal Industry sector Key information
4 October 2018 Intu Properties plc possible offer by Brookfield Property Group, The Peel Group and The Olayan Group (the Consortium) Investment,Property Brookfield Property announced and confirmed the recent press speculation that Brookfield Property (including funds or vehicles which are managed and advised by it), The Peel Group and The Olayan Group (the Consortium) are in the preliminary stages of considering a possible cash offer for the issued (and to be issued) share capital of Intu Properties not already owned by members of the Consortium. The Peel Group and The Olayan Group are interested in 405,669,386 shares in Intu Properties in aggregate, representing approximately 29.9% of the share capital of Intu. Brookfield is not interested in any shares in Intu.
The PUSU deadline is on 1 November 2018.
Filed Under: Round-ups

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