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Marjorie Scardino, Pearson's chief executive, said: "Being able to offer a connective digital spine for learning has been Pearson's goal for years. Schoolnet has shared our passion, and together we can make that spine more flexible and powerful for schools, teachers and students." Based in New York City, Schoolnet was founded in 1998 by Jonathan D. Harber and Denis P. Doyle, who developed the Schoolnet instructional management suite to help school systems use data to boost learning. The Obama administration, through programs such as Race to the Top, supports the use of comprehensive data systems that improve college-readiness. As part of the administration's reform agenda, some $17 billion has been allocated to states and districts to support school improvement. Jonathan D. Harber, Schoolnet's chief executive, will stay on, along with his senior leadership team, and continue to serve as CEO of Schoolnet and as a senior executive at Pearson. "K-12 schools have begun a revolutionary transformation towards evidence-driven instruction to improve student achievement," Harber said. "Personalized learning for students and educators is key to advancing student progress and we are pleased to be joining the Pearson family in this pursuit." Will Ethridge, chief executive of Pearson North America, said: "We are excited to have Jonathan and the talented Schoolnet team join Pearson. We see an excellent fit between the capabilities of our two organizations, and we are looking forward to the opportunity to work together to improve learning and accelerate growth."
PEARSON TO ACQUIRE SCHOOLNET Brings together proven systems to personalize learning and improve teacher effectiveness Pearson, the world's leading learning company, is announcing today the acquisition of Schoolnet, a fast-growing and innovative education technology company that aligns assessment, curriculum and other services to help individualize instruction and improve teacher effectiveness. Schoolnet now serves more than 5 million US pre K-12 students through partnerships with districts and states, supporting about one-third of America's largest urban cities. Pearson will acquire Schoolnet for $230m in cash. The company expects the acquisition to be broadly neutral to earnings per share in 2011, including integration costs, and to enhance Pearson's adjusted EPS and return on invested capital in 2012. The agreement is subject to a Hart-Scott-Rodino review. Schoolnet's data-based solutions will complement Pearson products and services that help boost student achievement through diagnostic tools and tailored instruction. Schoolnet customers will benefit from Pearson's content and information technology such as PowerSchool for student information, AIMSweb for intervention, America's Choice for school improvement services, eCollege for online learning platforms and Family Education Network for parent and teacher education.
http://www.investegate.co.uk/Article.aspx?id=201104260700074277F
Pearson buys qualifications group EDI Date: Monday 07 Mar 2011 LONDON (ShareCast) - Financial Times publisher Pearson has added to its educational activities with the purchase of qualifications group Educational Development International (EDI). Pearson is paying 200p a share for EDI, which values the company at about £112.7m. Shares in EDI shot up after the announcement. Educational Development accredits vocational courses for teachers, taxi drivers and other professions and provides qualifications for overseas English students in countries such as Malaysia and Burma. “Pearson believes that the addition of EDI will complement Pearson's existing work-based learning business and will create an enlarged qualifications group offering a comprehensive range of vocational and academic services to the UK and international markets,” John Fallon, chief executive of Pearson’s International Education Business said. EDI’s chief executive Nigel Snook said: “The offer price to acquire the EDI business reflects the value created for shareholders over the past 10 years through the hard work and commitment of the staff and management team. “We now look forward to working with our Pearson colleagues to take the business on to its next stage, creating a world-class organisation supporting vocational education and training programmes in the UK and internationally.”
John Fallon, Chief Executive of Pearson's International Education Business, said: "In EDI we have found a dynamic partner who shares our commitment to education and training. In the UK and around the world, we will be even better placed to work with employers and training partners to develop high quality apprenticeships and related qualifications. In this work, we will help companies to be more competitive and make their staff more employable." Nigel Snook, Chief Executive of EDI, said: "The Offer Price to acquire the EDI business reflects the value created for shareholders over the past 10 years through the hard work and commitment of the staff and management team. We now look forward to working with our Pearson colleagues to take the business on to its next stage, creating a world-class organisation supporting vocational education and training programmes in the UK and internationally."
cont - In accordance with Rule 2.10 of the Code, EDI confirms that there are 56,359,647 EDI Shares in issue, the ISIN number for which is GB0004486006, which includes 2,990,047 EDI Shares currently held in the EDI Employee Benefit Trust.
Summary - The boards of directors of Pearson plc ("Pearson") and Education Development International plc ("EDI") are pleased to announce that they have reached agreement on the terms of a recommended cash offer to be made by Pearson for the entire issued and to be issued share capital of EDI - The Offer will be made at a price of 200pence in cash for each EDI Share and values EDI's entire issued ordinary share capital at approximately £112.7 million. - The Offer Price represents a premium of approximately: - 61 per cent. to the Closing Price of 124.0 pence per EDI Share on 4March 2011, the last business day prior to the commencement of the offer period; and - 73 per cent. to the average Closing Price of 115.6 pence per EDI Share over the three months prior to 4 March 2011. - EDI is a leading provider of education and training qualifications and assessment services, with a strong reputation for the use of information technology to administer learning programmes and deliver on-screen assessments. - Pearson believes that the addition of EDI will complement Pearson's existing work-based learning business and will create an enlarged qualifications group offering a comprehensive range of vocational and academic services to the UK and international markets. Pearson believes that its financial resources, international scale and strengths in assessment, publishing and technology will also enhance the offering to EDI's customers. - The directors of EDI, who have been so advised by Brewin Dolphin, consider the terms of the Offer to be fair and reasonable. In providing their advice, Brewin Dolphin have taken into account the commercial assessments of the directors of EDI. Accordingly, the directors of EDI intend unanimously to recommend that EDI Shareholders accept the Offer, as they have themselves irrevocably undertaken to do (or procure to be done) in respect of their entire beneficial holdings of EDI Shares, amounting in aggregate to 5,523,373 EDI Shares, representing approximately 9.80 per cent. of EDI's existing issued ordinary share capital. - Pearson has also received irrevocable undertakings to accept the Offer from each of J O Hambro Capital Management Limited, Wynford Dore and Hargreave Hale Limited, amounting in aggregate to 11,618,087 EDI Shares, representing approximately 20.61 per cent. of EDI's existing issued ordinary share capital. - In aggregate, Pearson has received irrevocable undertakings (including those undertakings from the directors of EDI) to accept the Offer in respect of 17,141,460 EDI Shares, representing approximately 30.41 per cent. of EDI's existing issued ordinary share capital. All of these undertakings remain binding, even in the event of a higher competing offer for EDI, unless the Offer lapses or is withdrawn. - In accordance with Rule 2.10 of the Code, EDI confirms that there are 56,359,647 EDI Shares in issue, the ISIN number for which is GB
http://www.investegate.co.uk/Article.aspx?id=201103070700124239C
Pearson freezes Libyan stake Date: Tuesday 01 Mar 2011 LONDON (ShareCast) - Financial Times and Penguin books publisher Pearson has frozen Libya’s stake in the company, which is bigger than the company first thought. Pearson said in June that the Libyan Investment Authority (LIA) had acquired 24,431,000 shares in the company. Chief executive Marjorie Scardino said she was “uncomfortable” about 3% of the company being owned by the Libyans. However, Pearson revealed today that it “has reasonable cause to believe that the LIA may have acquired an additional 2,141,179 shares resulting in a total interest in 26,572,179 shares.” This means the LIA has a 3.27% stake in the company. “Having taken legal advice regarding its obligations under the order, Pearson considers that the ordinary shares in the company which are held by or on behalf of the LIA are subject to the order and are therefore effectively frozen,” Pearson said. “As a result, Pearson has today informed the LIA and its nominees that Pearson will not register any transfer or pay any dividend in respect of the shares until further notice.” Like many countries, Britain has frozen Gaddafi’s assets in the country, which are worth around £1bn.
Earnings per share at Pearson (PSON), the education and publishing group, beat analysts' expectations and the company's own, month-old, guidance for the year ended 31st December 2010. Adjusted for currency fluctuations, divestment and acquisitions, full-year revenues grew 5% to 5.66 billion pounds with pre-tax profits up to 670 million pounds, a 28% increase. Adjusted earnings per share were 77.5p, ahead of the 76p indicated by the group only last month. The dividend rises 9% to 38.7p, the biggest increase in a decade. Looking ahead, the company said it was expecting growth in sales, profit margin and EPS in 2011.
Pearson (PSON), the publishing group that owns Penguin books and the Financial Times, raised its full-year earnings forecasts for the third time in less than six months, thanks to strong growth in computer-based learning products and in the developing world. The company said it expected to report full-year operating profits of 850 million pounds, up 20% from the 710 million pounds made last year. As a result, adjusted earnings per share for the year are seen increasing by some 16% to 76p, ahead of earlier guidance of 72p
Brockers Note from UK Analyst Education and information specialist Pearson (PSON) released a nine-month interim management statement (IMS) which revealed that the company was able to maintain its strong momentum in the third quarter of the current year. In the first nine months of the year, sales increased by 20% in headline terms and operating profit increased by 19%. The FT Group and Penguin components performed in line with expectations and benefited from their investments in new digital products and emerging markets. The company also reported gains in its market share with growth in digital services and expansion into new markets and geographical areas. In addition, Pearson expects full-year adjusted earnings to be at or above 60 pence per share. On the back of this positive news, shares in the company surged ahead by 36.5p to 858.5p.
and remember when they were at £20, nice rise on the day.
By Lilly Vitorovich Of DOW JONES NEWSWIRES http://online.wsj.com/article/BT-CO-20091020-703099.html LONDON (Dow Jones)--U.K.-based Pearson PLC (PSON.LN), publisher of the Financial Times newspaper, Tuesday reported strong trading for the first nine months of the year and raised its full year earnings guidance, with its education business performing ahead of expectations despite challenging conditions in U.S. school publishing. Pearson said education, which accounts for 60% of the group's earnings and sales, is gaining "significant market share, with substantial growth in digital services and continued expansion into new market segments and geographies." Despite the tough economic environment, Pearson sustained its strong momentum in the third quarter, with the FT Group and Penguin book division performing in line with expectations and benefiting from the group's investment in digital products and emerging markets… Click the link above for full article
on lack of news this is slowly sinking away.Anyone know anything
Strong day in a weak market on the back of good results.
....keep an eye on , goes ex-div 09/04. I think overdone so bought in and expect price to rise , dyor, etc http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/09/cxquest109.xml
pull back from the lows on results , over done , the DOW being in play and reasonable dividend. Like HBOS , I think PSON will fall prior to ex div if market sentiment heads that way. Be nimble as profit take will also be in play on both stocks. For me , held overnight to see , but will have no problems in selling and buying in on a short if sentiment swings that way.
PSON - The price had great difficulty carcking the 700 barrier, but having done so, is rocketing ahead. This may be just on the back the recent spec that FT, which PSON own, will be sold or it may be a perception that the shares have more fundamental reasons for being uprated.