22 Jul 2014 11:34
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Don't have an account? Click here to register.Bagir recommends shareholders approve Shandong Ruyi investment
Mon, 03rd Sep 2018 12:27
(Sharecast News) - Tailoring company Bagir Group said on Monday that, further to its announcement on 23 November last year, it had agreed terms with Shandong Ruyi Technology Group for a proposed investment and strategic partnership, under which Shandong Ruyi will invest $16.5m into the company in return for 359,560,310 new ordinary shares, representing 53.7% of its enlarged share capital.The AIM-traded firm's board said it considered the proposals and the passing of the required resolutions to be in the best interests of the company, its shareholders and its depositary interest holders for a number of reasons.It said that the use of the investment by Shandong Ruyi, to directly target expediting the development and expansion of the manufacturing facility in Ethiopia, would "significantly" accelerate the timetable for the operational potential in Ethiopia to be realised, enabling the facility to attract and compete for major apparel manufacturing contracts from large international retailers which generate an acceptable level of return to Bagir.Shandong Ruyi, as a result of its "significant" international textile and retail investments, was said to be "well-positioned" to provide the group with significant new commercial opportunities.The strategic partnership had the potential to have a "transformational" effect on the operations and the prospects of the group, the board added, from which all shareholders and depositary interest holders would benefit.Bagir also said the strategic partnership with Shandong Ruyi would increase the company's own profile and reputation.Accordingly, the directors unanimously recommended that shareholders voted in favour of the resolutions to be proposed at the extraordinary general meeting as the directors, who had an interest in ordinary shares, had irrevocably undertaken to do in respect of their own and connected persons beneficial shareholding."We are delighted to be putting this proposal to our shareholders as we believe it to be transformative, creating a platform from which Bagir has the potential to become a significant player in our market of apparel manufacturing," said Bagir chief executive officer Eran Itzhak.
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22 Jul 2014 11:18
Bagir Group warns on half year figures
Shares in tailoring firm Bagir Group lost more than a fifth of their value on Tuesday after it warned it would deliver an annual pre-tax loss of around $2m, with revenue coming in at the lower end of its expectations at $48m. The group had previously predicted full-year revenue would total between
Read more22 Jul 2014 07:32
2 Jun 2014 11:18
Bagir Group Agrees Revised Banking Covenants
LONDON (Alliance News) - Bagir Group Ltd Monday said it has now agreed revised banking covenants for 2014 after discussions with its banks, which were announced on May 15. The formal wear tailoring company which listed on AIM in April, saw its valuation tumble by over half during May after
Read more16 May 2014 10:47
DIRECTOR DEALINGS: Bagir Non-Executive Buys Shares
LONDON (Alliance News) - Bagir Group Ltd Friday said Non-Executive Director Tessa Laws bought 24,390 shares at a price of 20.5 pence per share, which represents her only holding in the clothing company. Shares were up 2.0% at 20.90 pence Friday morning. By Arvind Bhunjun; arvindbhunju
Read more15 May 2014 15:57
Wife of Beazley CEO sells 200,000 shares
The wife of David Horton, the Chief Executive Officer of Beazley, has sold 200,000 shares in the global specialist risk insurance and reinsurance business, thereby reducing his interest to 1.58m shares. Sophie Horton sold the shares at 244.50p a piece, giving the deal a trade value of £489,000.
Read more15 May 2014 12:48
UK MIDDAY BRIEFING: "Dixons Carphone" Shares Hit By Merger Deal
LONDON (Alliance News) - Shares in Carphone Warehouse Group and Dixons Retail took a hit Thursday after the companies announced a GBP3.6 billion merger that will create the UK's biggest retailer of mobile phones and electrical goods.
The new firm,
15 May 2014 12:37
DIRECTOR DEALINGS: Bagir Non-Executive Buys 133,333 Shares
LONDON (Alliance News) - Bagir Group Ltd Thursday said non-executive Director Samuel Vlodinger bought 133,333 shares at a price of 22.5 pence per share. Following this transaction, Vlodinger holds 8.9 million shares, which represents 17.66% stake in the firm. The formal wear tailoring
Read more15 May 2014 11:35
UK WINNERS & LOSERS: LSE And Aviva Top And Tail FTSE 100
LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Thursday.
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FTSE 100 - WINNERS
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London Stock Exchange Group, up 2.4%. The group said its full-year revenue r
15 May 2014 09:23
Bagir Group Tumbles As Largest Customer Reduces Orders
LONDON (Alliance News) - Bagir Group Ltd, the formal wear tailoring company which listed on AIM just last month, Thursday saw its valuation tumble by over half after warning that it had been hit by an unexpected reduction in orders from its largest customer and was talking with its lenders about
Read more15 Apr 2014 10:57
Bagir Raises GBP20.0 Million, Begins Trading On AIM
LONDON (Alliance News) - Formal wear tailoring company Bagir Group Ltd became the latest company to begin trading on the AIM market Tuesday, amid a flurry of new initial public offerings since the beginning of 2014. The company raised GBP20.0 million in its initial placing, at a price of 56
Read more15 Apr 2014 10:12
Bagir Group joins AIM
Formalwear tailor Bagir Group on Tuesday began trading on AIM on the London Stock Exchange. The company raised about £20m though the placement of 35,714,285 new shares at a placing price of 56p each. The total number of ordinary shares in issue at admission is 50,223,210, giving the group a market
Read more