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Sports Direct tries again with Debenhams EGM demand

Thu, 21st Mar 2019 10:49

(Sharecast News) - Sports Direct's Mike Ashley has for the second time requisitioned a general meeting of Debenhams as his first effort was declared null and void. The sports retailer was told that its initial attempt on 7 March was invalid as the near-30% shareholding in Debenhams was being held through a third party nominee account.Sports Direct, which also owns the House of Fraser chain, has since transferred the stake to a direct holding and issued a second requisition to appoint Ashley to the board of the department store group and remove all of the current members of the board other than chief financial officer Rachel Osborne.With Debenhams in talks with lenders over a new £150m loan and also looking at larger refinancing and a Company Voluntary Arrangement that would involve the closure of stores and rent reductions at others, Ashley on 14 March Ashley offered an alternative £150m loan, with the proviso that he takes over as chief executive."Sports Direct would like the matter of Debenhams board appointments to be put to the vote of the Debenhams shareholders as soon as possible," the company said in its statement on Thursday.
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21 Sep 2016 11:17

Centaur acquires Oystercatchers to expand marketing arm

(ShareCast News) - Centaur Media, a multi-platform business information, insight and events group, has announced that it has agreed to acquire Oystercatchers for up to £3.35m in cash and shares. Oystercatchers is a consultancy that helps brands "accelerate" their marketing performance. It has around

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21 Sep 2016 08:11

Bonmarche warns on profits as weather dampens sales, clouds outlook

(ShareCast News) - Befuddled by the inconsistent weather so far this year, over-50s clothing retailer Bonmarché cut its full year profit guidance after like-for-like sales continued to suffer in the second quarter. Profit before tax for the year to 31 January is now expected to be in a range between

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14 Sep 2016 16:30

Torotrak joins off-highway drivetrain consortium

(ShareCast News) - Developer and supplier of emissions reduction and fuel efficiency technology, Torotrak, announced the award of funding from the UK's Advanced Propulsion Centre UK on Wednesday, to work in a co-funded consortium including Turner Powertrain System and the University of Hertfordshire

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11 Sep 2016 15:45

Sunday newspaper round-up: Inflation, MPC, Tesco, Rolls-Royce, Morrisons

(ShareCast News) - At their meeting this week, the Bank of England's rate setters are expected to pause and take stock of the impact on the economy of its recent interest rate cut, while UK inflation is set to continue its modest rise figures are likely to show. While inflation is likely to be boost

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5 Sep 2016 12:04

BATM sells its administrative building

(ShareCast News) - Provider of real-time technologies for networking solutions and medical laboratory systems, BATM Advanced Communications, announced on Monday that its fully owned real estate management subsidiary BATM ESHBOLOT has entered into an agreement to sell a wholly owned building situated

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1 Sep 2016 18:52

Thursday broker round-up

(ShareCast News) - Virgin Money: Berenberg reiterates hold with a target price of 300p. Alumasc Group: Peel Hunt maintains buy with a 210p target. Morrisons: Goldman Sachs downgrades to sell with a 175p target. Diageo: HSBC reiterates hold with a 2350p target. Lavendon: Berenberg keeps at buy wit

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30 Aug 2016 15:13

BATM advanced communications sustains growth in second half

(ShareCast News) - BATM Advanced Communications, a provider of real-time technologies for networking solutions and medical laboratory systems, has managed to sustain its performance in the first half of 2016 due to the success of its Diagnostic Unit and the recovery of its Networking and Cyber divis

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28 Aug 2016 13:45

Sunday newspaper round-up: Sterling, PMIs, May's Brexit talks, GSK, Sports Direct

(ShareCast News) - Hedge funds and other speculators have cranked up bets against the pound to their highest-ever level as sterling rises close to a three-week high. Short positions on the pound worth $7.8bn (£5.9bn) were racked up last week - the largest ever, according to US data used by the Sunda

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25 Aug 2016 13:47

Air Partner optimistic about FY prospects

(ShareCast News) - Air Partner said in a pre-close statement that trading in the first half has been strong, and that it is optimistic about the company's prospects for the full year. It said first-half underlying pre-tax profit was seen at not less than £3.0m, from £2.2m a year ago. The company enj

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24 Aug 2016 17:55

Directors dealings: LondonMetric directors sell as quarterly dividend declared

(ShareCast News) - LondonMetric Property directors sold more than £1.5m-worth of shares in the company, which on Wednesday declared a first quarterly interim dividend of 1.8p a share. The ex-dividend date was 1 September, with the record date being 2 September and the dividend payment date diaried f

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24 Aug 2016 15:41

Bioquell lifts H1 profit, restructures management

(ShareCast News) - Bioquell has booked a first-half pre-tax profit of £378,000, from a profit of £69,000. Revenue slipped to £12.1m, from £12.5m. It cited cost reduction for the improved profitability as it implemented several management changes. It said, following a strategic review, that sharehold

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24 Aug 2016 10:09

Candover Investments net assets per share drop in first half

(ShareCast News) - Candover Investments reported a drop in its net assets per share in the first half of the year. For the half year to the end of June, net assets per share fell 39.1% to 148p. Realisations completed in the period included the realisation of the balance of Stork BV announced in Dec

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23 Aug 2016 15:58

London close: Blue-chip miners, banks push FTSE higher as house builders fly

(ShareCast News) - London indices closed up thanks to heady gains among house builders after Persimmon posted robust first-half results, with miners, financials and supermarkets also on the up. While house builders dominated the top end of the blue-chip leaders' ladder, it was "miners and banks that

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16 Aug 2016 16:29

Centaur Media launches £1m share buy-back programme

(ShareCast News) - Centaur Media launched a £1m share buy-back programme which was to be executed on the open market. The resulting Treasury shares would be used to meet future onligations from share-based reward programmes for employees, the multi-platform business information, insight and events g

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16 Aug 2016 12:23

Future buys shopping comparison business Next Commerce

(ShareCast News) - Media group Future has acquired digital shopping comparison business Next Commerce for an undisclosed cash consideration. Next, which has operations in Australia and across South East Asia, generated revenue of AUD3.3m (£1.9m) for the year to the end of June 2016. Future has rapi

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