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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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23 Jun 2016 09:31

Future plans share issue to acquire Imagine Publishing

(ShareCast News) - Publisher Future has agreed the acquisition of periodicals and 'bookazines' specialist Imagine Publishing to strengthen its magazine portfolio for £14.2m of newly issued shares. The purchase will give the owners of Imagine, who expect to make to report £16.4m revenue and generate

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17 Jun 2016 12:37

Record Plc's FY profit falls as firm-wide wage hike lifts expenses

(ShareCast News) - Currency manager Record Plc has booked a lower full year pre-tax profit after implementing a firm-wide pay hike of 10%, also flagging the potential of a special dividend for shareholders going forward. The results -- set against a challenging backdrop of hesitant global economic g

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16 Jun 2016 15:26

Axa Property Trust sells German property; extends credit facility

(ShareCast News) - AXA Property Trust said it has contracted for the sale of its property at Dasing, Germany at a sales price in line with an undisclosed valuation and added that it was in "advanced" talks on a short term extension to its debt facility. Sales proceeds after disposal costs will be us

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13 Jun 2016 12:26

Triad Group shares surge on improved FY profit, revenue

(ShareCast News) - Shares in Triad Group are up almost 25% after the software development and consultancy improved its full year pre-tax profit to £0.86m, from £0.35m. Revenue was ahead at £28.3m, from £23.5m, while gross profit as a percentage of revenue firmed to 15.0%, from 14.1%. "We have start

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10 Jun 2016 14:11

Directors dealings: NAIT boosts stake in EKF Diagnostics to 14.1%

(ShareCast News) - Harwood Capital, acting as investment manager on behalf of North Atlantic Smaller Companies Investment Trust PLC, picked up another large batch of shares in EKF Diagnostics. Christoper Mills, who was named to the post of non-executive chairman at the global point-of-care medical d

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10 Jun 2016 10:54

Dee Valley Group's full year profits fall slightly as revenue drops

(ShareCast News) - Dee Valley Group, a water company supplying north east Wales and parts of north west England, reported a slight drop in annual profit compared to the previous year on a fall in revenue. The company reported profit before tax of £4.2m for the year to 31 March 2016, down from £4.5m

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9 Jun 2016 11:55

ScS Group sees FY profit ahead of market views

(ShareCast News) - Upholstered furniture and floorings company ScS Group has completed a hat-trick of upbeat trading statement this year, its latest stitching in the prospect of full-year profits ahead of market views. Shares in the company were up more than 8% on the news. Chief executive David Kn

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3 Jun 2016 12:00

Source BioScience gets potential 18p a share offer

(ShareCast News) - Shares in Source BioScience are up more than 15% after it received a potential but firm 18p a share cash offer from Continental Investment Partners SA and Harwood Capital LLC. The potential offer was, subject to due diligence, expected to include an unlisted securities alternative

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17 May 2016 15:30

Haynes Publishing warns on FY profit, begins restructuring

(ShareCast News) - Haynes Publishing's shares plunged more than 12% after it warned full-year pre-tax profits before exceptional costs will come in up to 30% below market views for £2.6m, and also outlined restructuring and job-cut plans. Haynes cited a weak Q4 in its US & Australian markets, noting

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16 May 2016 13:48

Palm oil giant REA Holdings selling stake in Borneo operation

(ShareCast News) - Palm oil company REA Holdings announced on Monday that is had reached a conditional agreement with PT Dharma Satya Nusantara (DSN), in which DSN subsidiary PT Swakarsa Sinarsentosa (SWA) will acquire 15% of REA's principal operating subsidiary in Indonesia, PT REA Kaltim Plantatio

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16 May 2016 13:48

Microgen acquires Infoscreen (Cyprus) Ltd

(ShareCast News) - Microgen's financial systems business has acquired Infoscreen of Cyprus for €1.8m, its fourth deal in the trust and fund administration sector since December 2014. Cyprus-based Infoscreen and its subsidiary booked revenue of €1.0m in the last calendar year and an operating profit

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28 Apr 2016 12:38

Harvey Nash annual profit up but UK market slowing

(ShareCast News) - Recruiter Harvey Nash posted a rise in full-year profit but said concerns over a possible Brexit have contributed to a slowdown in the UK. In the year to the end of January, pre-tax profit rose 7% to £9.1m on broadly flat revenue of £676.5m. Earnings per share increased to 9.42p

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1 Apr 2016 10:28

Director dealings: Bell buys first stake at Greatland Gold

(ShareCast News) - Greatland Gold's non-executive chairman Andrew Bell bought a 2.39% stake in the Tasmanian exploration tiddler days after the company stated its much improved confidence new strategy. Bell snapped up 23.7m Greatland shares at a bargain basement price of 0.132p per share. While thi

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1 Apr 2016 09:13

Creston non-executive chairman steps down

(ShareCast News) - Marketing communications group Creston has confirmed its non-executive chairman Richard Huntingford has stepped down from the board in 31 March. The development was initially revealed on 18 February. Creston said it has made "good progress" in the process to appoint a new non-exe

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15 Mar 2016 09:47

French Connection full year loss widens

(ShareCast News) - Full year operating losses at retailer French Connection widened on the back of a disappointing trading performance in the first half of the year as the spring collection failed to impress. For the year ended 31 January 2016, the underlying operating loss came in at £4.7m compared

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