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Assetco Information
Share Price Information for Assetco (ASTO)
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Share Price:
35.50
Bid:
35.00
Ask:
36.00
Change:
0.00 (0.00%)
Spread:
1.00 (2.857%)
Open:
35.50
High:
35.50
Low:
35.50
Prev. Close:
35.50
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Mon, 21st Mar 2011 18:00
AIM-quoted AssetCo has adjourned its general meeting until tomorrow after chief executive John Shannon said that he wanted to vote against resolutions that would enable the outsourced fire services provider to raise the additional cash that it requires.Shannon says that he is not bound by his irrevocable undertaking to vote in favour of issuing the shares for the £16m placing. Shannon owns 29.7% of the company. That would be enough to block the special resolutions at the general meeting. AssetCo is considering its options. The meeting will now be held at 10am on 22 March. Shannon has provided a personal guarantee for the company's overdraft. AssetCo argues that if the placing does not happen then its banks are likely to withdraw their support for the company. Trading in the shares had been suspended at 15.5p at the beginning of the day. The company said that it requires a £3m-£4m working capital facility on top of the £16m that would be available from the share placing if the general meeting votes to issue the shares. AssetCo has not been able to secure that facility from the bank as it would prefer. North Atlantic Value, Gartmore and Utilico Investments are willing to provide up to £3.33m each in return for shares at 10p each - the latest placing price. This support would be available for up to 12 months or as long as it is required but AssetCo does not have to ask for all of the potential funding. These investors may ask the company to redeem £15m of preference shares in AssetCo Abu Dhabi Ltd in exchange for shares at 10p each and the cancellation of warrants related to the preference share issue. Tudor Davies will replace Tim Wightman as chairman. This is a condition of the additional financial support. North Atlantic and Utilico can each appoint another director.
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6 Apr 2022 15:53
UK shareholder meetings calendar - next 7 days
| Thursday 7 April | |
| RM PLC | AGM |
| Friday 8 April | |
| Path Investments PLC | GM re DG Innovate purchase and name change |
| Rio Tinto PLC | AGM |
| Monday 11 April | |
| MC Mining Ltd | EGM |
| Gore Street Energy Storage Fund PLC | GM re investment and dividend policy |
| TruFin PLC | GM re equity raise |
| Tuesday 12 April | |
| abrdn China Investment Co Ltd | AGM |
| Phoenix Copper Ltd | AGM |
| Wednesday 13 April | |
| AssetCo PLC | GM re River & Mercantile reverse takeover |
| DP Eurasia NV | EGM re takeover protection |
| Smith & Nephew PLC | AGM |
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25 Mar 2022 13:28
IN BRIEF: River & Mercantile widens half-year loss, ups revenue
River & Mercantile Group PLC - London-based advisory and asset management company - More than doubles its loss in the first half of its 2022 financial year. It posts a loss of GBP13.4 million for the half-year ending on December 31, widening from GBP6.0 million a year ago. Revenue grows 4.2% to GBP13.5 million from GBP12.9 million. As previously reported, subject to shareholders' approval and change of control permission being granted by the Financial Conduct Authority, River & Mercantile will soon be part of AssetCo PLC, Chair Jonathan Dawson says.
Read more4 Mar 2022 20:53
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Read more18 Feb 2022 14:44
AssetCo performa well as it plans River and Mercantile takeover
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River & Mercantile completes sale of solutions arm to Schroders
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River & Mercantile agrees to GBP99 million AssetCo takeover
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UPDATE 2-Acquisition vehicle AssetCo to buy UK investment firm River & Mercantile
(Adds RMG's sale of U.S. Solutions business, updates share move)Jan 25 (Reuters) - UK-based acquisition vehicle AssetCo said on Tuesday it will buy investment and consulting firm River & Mercantile Group (RMG), in a deal, which along with a plann...
Read more25 Jan 2022 14:28
UPDATE 1-Acquisition vehicle AssetCo to buy UK investment firm River & Mercantile
(Adds detail, chairman comment, shares)Jan 25 (Reuters) - UK-based acquisition vehicle AssetCo said on Tuesday it will buy investment and consulting firm River & Mercantile Group (RMG), in a deal, which along with a planned capital return, will va...
Read more25 Jan 2022 12:45
AssetCo to buy River and Mercantile in £98.8m deal
(Sharecast News) - Acquisitions vehicle AssetCo has agreed to buy asset management firm River and Mercantile in an all-share £98.8m deal.
Read more24 Jan 2022 19:04
PRESS: AssetCo close to agreeing deal to buy River & Mercantile
PRESS: AssetCo close to agreeing deal to buy River & Mercantile
Read more18 Jan 2022 14:51
IN BRIEF: River & Mercantile extends deadline for AssetCo offer
IN BRIEF: River & Mercantile extends deadline for AssetCo offer
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