21 Jan 2016 12:13
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Don't have an account? Click here to register.Premier Asset Management float allows Electra to cash in
Tue, 04th Oct 2016 07:12
(ShareCast News) - Premier Asset Management Group completed its initial public offering in London on Tuesday, allowing Electra Partners to partially realise an investment by its Electra Private Equity vehicle.Premier AM, a UK retail asset management group, placed 35.9m new and 12.4m existing shares at a price of 132p apiece, raising a gross £63.7m, of which £47.4m will go to the company.After the float, Electra and fellow investor Queripel Partners will still own just over 54%, of which Queripel will hold 33%, with both parties and Premier's directors and some senior management agreeing 'lock-up' arrangements not to sell shares for a specified period.Based on the offer price, Electra's investment in Premier has a value of £46m - an uplift of £13m or 39% on the valuation at 31 March, implying an increase in net asset value per share of 26p."On admission, Electra is expected to receive cash proceeds of £36m from the redemption of preference shares and sale of ordinary shares in Premier," Electra said."In addition Electra will hold approximately 8% of the issued ordinary share capital of Premier with a valuation at the offer price of £10m; these shares are subject to a six-month lock-up."Shares in Electra Private Equity finished Monday up 0.16% at 4,322p, prior to the announcement.
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20 Jan 2016 11:11
Electra board not independent enough - shareholder advisor PIRC
* PIRC rejects Bramson, Brindle as non-executive directors * Follows successful election to the board on Nov. 5 * Calls for investors to reject both at Jan. 25 AGM By Simon Jessop and Freya Berry LONDON, Jan 20 (Reuters) - The board of Electra Private Equity is not indepen
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14 Jan 2016 16:19
4 Jan 2016 07:55
Grainger to sell equity release division
(ShareCast News) - Grainger was expecting a cash boost on Monday, with the announcement it was selling its equity release division. The FTSE 250 landlord - the UK's largest listed residential lessor - reported it had exchanged contracts with Turbo Group Holdings to sell its Retirement Solutions busi
Read more30 Dec 2015 14:41
Watchstone Group chairman buys shares
(ShareCast News) - Richard Rose, non-executive chairman of Watchstone Group - formerly Quindell - bought 100,000 shares in the insurance technology company at 257.88p each. This marked Rose's first purchase and gives him a 0.2% interest in Watchstone's issued share capital. Watchstone shares rocket
Read more11 Nov 2015 10:30
Electra Private Equity completes Park Resorts merger
(ShareCast News) - Investment trust Electra Private Equity has completed the merger of Parkdean Holidays and Park Resorts Group. The latter comprises Electra's portfolio companies Park Resorts, South Lakeland Parks and Southview and Manor Park and the FTSE 250 group said the merger will combine two
Read more6 Nov 2015 17:39
5 Nov 2015 15:23
UPDATE 2-Activist investor Bramson wins battle for UK's Electra
* Bramson's Sherborne wins two board seats * Electra Chairman Roger Yates resigns * Sherborne to conduct strategic review (Recasts, adds Electra chairman resignation, detail) By Freya Berry LONDON, Nov 5 (Reuters) - Activist investor Edward Bramson staged a dramatic coup
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