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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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26 May 2016 14:30

FTSE 250 movers: Ibstock retreats as Pets at Home accelerates

(ShareCast News) - The FTSE 250 slipped further into the red late as Thursday wore on, despite having peeped its head above water around midday. Leading the index lower, shares in Ibstock subsided as the brick maker reported a slow start to the year for its UK clay business had lasted four months b

26 May 2016 11:05

LONDON MARKET MIDDAY: Stocks Higher But Pound Knocked By Weak UK GDP

26 May 2016 10:36

EXTRA: In Charge, Bramson Serves Notice To Electra Investment Manager

26 May 2016 09:03

Electra Private Equity names activist investor Bramson as interim CEO

* Interim findings of strategic review prompt changes * Seeks CFO, to appoint new non-executive directors * Serves notice on investment manager Electra Partners By Simon Jessop and Anjuli Davies LONDON, May 26 (Reuters) - Electra Private Equity on Thursday appointed activ

26 May 2016 07:26

LONDON BRIEFING: Investor Bramson Named CEO Of Electra Private Equity

26 May 2016 07:14

Electra Private Equity Bows To Bramson, Makes Him Interim CEO

5 May 2016 15:14

Dividends Calendar - Week Ahead

4 May 2016 16:00

LONDON MARKET CLOSE: Miners, Grocers Hit FTSE 100, ICE Drops LSE Bid

4 May 2016 12:30

Electra Private Equity posts strong first-half returns

(ShareCast News) - Electra Private Equity looked to be sitting on solid foundations on Wednesday, as it claimed strong returns in its first half. The FTSE 250 company reported a net asset value per share of 4,405p - a total return of 15% in a period where the FTSE All-Share has returned 4%. Total n

4 May 2016 11:07

LONDON MARKET MIDDAY: Miners And Grocers Depress FTSE 100

4 May 2016 09:36

WINNERS & LOSERS SUMMARY: Deal For London Bus App Lifts Proxama 20%

4 May 2016 07:52

UPDATE 1-UK's Electra makes total return of 15 percent, seeks directors

(Adds comments from chairman, detail) LONDON, May 4 (Reuters) - British private equity firm Electra said on Wednesday it made a total return of 15 percent in the six months ended March, helped by profit growth in its portfolio of companies. The Hotter Shoes owner said it would pay an

4 May 2016 07:35

Electra Private Equity Boasts Strong Investment Performance In Half

4 May 2016 06:15

UK's Electra sees total return of 15 percent

LONDON, May 4 (Reuters) - British private equity firm Electra said on Wednesday it made a total return of 15 percent in the six months ended March, helped by profit growth in its portfolio of companies. The Hotter Shoes owner said it would pay an interim dividend of 44 pence a share and it

29 Apr 2016 10:06

CD&R swallows sausage casings maker Kalle

LONDON, April 29 (Reuters) - U.S. buyout house Clayton Dubilier & Rice (CD&R) has bought German sausage casings maker Kalle from Silverfleet Capital, the companies said on Friday. Terms of the deal were not disclosed, but two sources familiar with the process said the price was towards the

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