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Share Price:
35.50
Bid:
35.00
Ask:
36.00
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0.00 (0.00%)
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1.00 (2.857%)
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Don't have an account? Click here to register.Tuesday tips round-up: Premier Foods, WS Atkins, AssetCo...
Tue, 05th Oct 2010 06:56
At the weekend Premier Foods confirmed reports that it had received approaches to buy Quorn and the other component of its meat-free division, Cauldron.Pretty much everything in the Premier portfolio is up for grabs; in the board's words, it is "open-minded" about disposals. Speculation has centred around Hovis bread, while United Biscuits nearly walked away with Mr Kipling cakes last year. The worry for the bears is that even if everything is sold, the proceeds may not cover the outgoings. One for gamblers, although it might just come good says the Times.The Independent adds that Premier Foods is paying for loading up its balance sheet with debt to fund an acquisition binge that in recent years has included the UK and Irish operations of Campbell's Soups, and RHM, the maker of Hovis bread. While Premier Foods now trades on a meagre price-to-earnings ratio of 3.6, it is not out of the woods yet. In addition to all that debt, the company has to reduce its bulging pensions deficit of £431m, and sorting out both will be severely testing. Sell.Engineering and design outfit WS Atkins became the latest to enter the M&A fray yesterday, confirming that it is spending $280m on its US peer PBSJ - a company that provides a whole host of engineering services. The stock is still inexpensive and the yield of more than 4% is also healthy. Buy says the Independent.AssetCo supplies equipment for the London and Lincolnshire fire services, including engines, hoses and other paraphernalia required for putting out fires and for rescuing people. It is also mandated to step in and supply staff and equipment in the event of major incidents. On a modest multiple of 7.6 times full-year earnings, with a yield of 4.7%, buy says the Independent.Waterman Group, an engineering consultant, takes three quarters of its workload from private property development and 70% from Britain. Clearly, the next fear is the public spending cuts. The company helps local authorities on highway projects and the like and has limited exposure to schools and hospitals. It will be a long crawl back and pre-tax profits, £6.9m at their peak a couple of years ago, will struggle to much exceed £1m this year. Hold says the Times.Brokers are suggesting pub group Enterprise Inns could afford a minimum dividend of 6½p for the next financial year, and at the current share price there is not much point in paying less. This would cost about £33m, out of forecast pre-tax profits of about £170m, and would leave the shares yielding just north of 6%. An interesting punt says the Times.Please note: Digital Look provides a round-up of news, tips and information that is impacting share prices and the market. Digital Look cannot take any responsibility for information provided by third parties. This is for your general information only as not intended to be relied upon by users in making an investment decision or any other decision. Please obtain a copy of the relevant publication and carry out your own research before considering acting on any of this information.
More News
8 Sep 2022 10:07
AssetCo shares soar in nod to Parmenion stake sale rumours
(Alliance News) - AssetCo PLC shares jumped on Thursday morning after it confirmed it is in talks to sell some or all of its stake in Parmenion Capital Partners LLP.
Read more7 Sep 2022 21:19
PRESS: Blow for abrdn as former unit may fetch premium - Sky News
(Alliance News) - A large stake in one-time abrdn PLC unit Parmenion may be sold in a deal which values it a significant premium to what the London listing sold it for last year, Sky News reported on Wednesday.
Read more12 Aug 2022 11:41
IN BRIEF: R&M chief executive buys GBP350,000 in AssetCo shares
AssetCo PLC - London-based advisory and asset management firm - Elizabeth Hoctor-Duncan, a connected person to Alex Hoctor-Duncan, buys 472,972 shares at GBP0.74, worth GBP350,000, in London on Thursday. Elizabeth Hoctor-Duncan now is interested in 695,742 shares. Alex Hoctor-Duncan is chief executive officer of River & Mercantile Group, which was acquired by AssetCo earlier this year.
Read more8 Aug 2022 12:00
IN BRIEF: AssetCo completes USD8.8 million River & Mercantile US sale
AssetCo PLC - London-based advisory and asset management firm - Completes the sale of River & Mercantile US Holdings Ltd for USD8.8 million to Agilis Holdings Company LLC.
Read more5 Aug 2022 12:25
AssetCo completes Revera purchase at reduced price of GBP1.1 million
(Alliance News) - AssetCo PLC on Friday said that its acquisition of Revera Asset Management Ltd has received approval from the Financial Conduct Authority.
Read more3 Aug 2022 15:55
UK shareholder meetings calendar - next 7 days
| Thursday 4 August | |
| Glantus Holdings PLC | AGM |
| Investec PLC and Ltd | AGM |
| STM Group PLC | AGM |
| Starcrest Education Ltd | AGM |
| Friday 5 August | |
| JPMorgan Global Core Real Assets Ltd | AGM |
| San Leon Energy PLC | EGM |
| San Leon Energy PLC | GM |
| Trian Investors 1 Ltd | EGM re removal of three current directors |
| Trian Investors 1 Ltd | AGM |
| Verditek PLC | AGM |
| Monday 8 August | |
| Altus Strategies PLC | GM re merger with Elemental Royalties Corp |
| Bushveld Minerals Ltd | AGM |
| Essentra PLC | GM re unit sale |
| Go-Ahead Group PLC | GM regarding takeover by Kinetic and Globalvia |
| Oscillate PLC | AGM |
| Tuesday 9 August | |
| APQ Global Ltd | AGM |
| Goodbody Health Inc | AGM |
| Goodbody Health Inc | GM re delisting from Canadian Securities Exchange |
| Wednesday 10 August | |
| AssetCo PLC | GM re share split |
| Cadence Minerals PLC | AGM |
| CML Microsystems PLC | AGM |
| Foresight Group Holdings Ltd | AGM |
| Mountview Estates PLC | AGM |
| Unbound Group PLC | GM re open offer |
| Copyright 2022 Alliance News Limited. All Rights Reserved. | |
22 Jul 2022 09:46
IN BRIEF: AssetCo plans 1-into-10 share split and dividend payments
AssetCo PLC - London-based advisory and asset management - Plans share split and cancellation of share premium account in order to make share price more affordable for retail investors and clear the way for dividend payments. Each existing ordinary share will be replaced by 10 new ones. AssetCo notes recent increase in number of retail investors holding its shares. The sub-division will make smaller-sized dealings more efficient, improving trading liquidity, it says. The cancellation of the share premium account will allow for the payment of 13.0 pence per share dividend, or 1.3p after the 1-into-10 split, in the fourth quarter. Afterwards, AssetCo says it intends to adopt a progressive dividend policy.
Read more8 Jul 2022 18:14
IN BRIEF: Connected person of AssetCo Non-Executive buys shares
AssetCo PLC - Middle East-focused provider of management and resources to the fire and emergency services - Anne Dawson, a connected person to Non-Executive Director Jonathan Dawson, buys 19,000 shares at 793 pence each on Thursday, in a deal worth GBP150,670. Jonathan Dawson now holds a beneficial interest in 34,781 shares.
Read more21 Jun 2022 15:40
AssetCo to buy asset manager SVM for £10.7m
(Sharecast News) - AIM-listed asset and wealth management company AssetCo said on Tuesday that it had agreed to buy Edinburgh-based asset manager SVM for around £10.7m.
Read more21 Jun 2022 11:59
Martin Gilbert's AssetCo buys Edinburgh-based SVM Asset Management
(Alliance News) - AssetCo PLC on Tuesday said it has reached an agreement to buy Edinburgh-based SVM Asset Management Holdings Ltd, building its Scottish presence.
Read more15 Jun 2022 11:21
AssetCo swings to half-year loss; in "sound shape" as R&M deal closes
(Alliance News) - AssetCo PLC on Wednesday said it swung to a half-year loss in a busy period for the firm as it bought River & Mercantile Group PLC.
Read more14 Jun 2022 20:27
IN BRIEF: River & Mercantile shares suspended as takeover complete
River & Mercantile Group PLC - London-based advisory and asset management company - Shares suspended from trading on Tuesday at request of company with takeover by AssetCo PLC complete. Shares to be cancelled from trading on London Main Market on Wednesday.
Read more19 May 2022 18:06
IN BRIEF: AssetCo's takeover of River & Mercantile gains FCA approval
River & Mercantile Group PLC - London-based advisory and asset management company - Receives change in control approval from the UK Financial Conduct Authority for takeover by AssetCo PLC.
Read more19 May 2022 16:51
LONDON MARKET CLOSE: Dour day in Europe as New York struggles again
(Alliance News) - European equities slumped on Thursday, after deep sell-offs in New York on Wednesday as retailers across the Atlantic faced heavy selling pressure following a series of warnings on costs, margins and profits.
Read more