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Pin to quick picksDesign Group Share News (IGR)

Share Price Information for Design Group (IGR)

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Share Price: 114.00
Bid: 110.00
Ask: 118.00
Change: -1.00 (-0.87%)
Spread: 8.00 (7.273%)
Open: 117.50
High: 117.50
Low: 112.50
Prev. Close: 115.00
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IG Design To Become "Global Leader" After GBP90 Million US Acquisition

Mon, 20th Jan 2020 17:03

(Alliance News) - Gift packaging and stationery firm IG Design Group PLC on Monday said it has acquired CSS Industries Inc in a deal which values the US-based company at GBP89.7 million.

CSS, which produces seasonal gift products, will be earnings enhancing in its first full-year post acquisition, as it is expected to report net sales between USD346.0 million and USD352.0 million in the year ending March.

IG Design Chief Executive Paul Fineman said: "As well as doubling the scale of our US business, the combination of CSS and Design Group further strengthens our position as the global leader in consumer gift packaging and establishes us as a major supplier to the creative craft market.

"We are delighted to have once again identified a compelling opportunity that meets our clear criteria, whilst maintaining prudent levels of average leverage. This acquisition is not only earnings enhancing, it also provides us with tremendous prospects to create further value for our shareholders."

IG Design also proposed a placing to raise GBP120.0 million. It will price the placing shares at 694.0 pence each and it will be conducted through a bookbuild process.

Shares in the company closed 3.2% lower at 687.00p each in London on Monday.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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25 Oct 2023 13:42

IG Design shares rise as backs full-year expectations

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Canaccord Genuity reiterates 'buy' rating on IG Design

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20 Jun 2023 09:50

IN BRIEF: IG Design swings to annual loss as revenue down

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IN BRIEF: IG Design jumps as refinances lending facilities

IG Design Group PLC - Newport Pagnell, England-based designer and manufacturer of celebrations products, including greetings cards, gift wrap, Christmas crackers, gift bags and partywares - Negotiates a three-year refinancing of its lending facilities with HSBC Holdings PLC and NatWest Group PLC for USD125 million. Company also extends its overdraft facility with HSBC. The new facility replaces its previous revolving credit facilities agreed in 2019. Says the facility provides "more than sufficient" headroom to fund its working capital needs over the three years.

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IN BRIEF: IG Design hires Devro CFO Rohan Cummings as new finance head

IG Design Group PLC - Milton Keynes, England-based manufacturer and designer of gift packaging, stationery, and craft-related products - Hires Rohan Cummings as chief financial officer starting July 3. Cummings has been CFO of Devro Ltd since 2020. Devro provides collagen casings for food and had been a London-listed firm as Devro PLC. He will be replacing Paul Bal, who was promoted to IG Design's chief executive officer in April.

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(Alliance News) - IG Design Group PLC on Friday said its interim chief operating officer will step down, effective Friday next week.

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