ISG.L Share News (ISG)

ISG.L Information

There is currently no data for ISG

ISG Switches Position, Advises Shareholders To Accept Cathexis Bid

Wed, 17th Feb 2016 08:42

LONDON (Alliance News) - Construction services company ISG PLC on Wednesday switched its recommendation on the takeover offer made for the company by Cathexis UK Holdings Ltd, saying it now appears in the best interests of shareholders to accept the offer.

ISG said it still considers the terms of the offer, by which Cathexis is offering 171.00 pence per share for the group, valuing it at around GBP84.6 million, undervalues the business and its prospects.

However, due to the significant shareholding Cathexis and related parties would have in the business should the offer fail to become unconditional and lapse, which would be around 48%, ISG said it now thinks accepting the offer is in the best interests of shareholders.

It said that, given the large minority holding Cathexis would have in the business, it would make it "difficult and unlikely" for other shareholders to have influence over any votes on company business, adding Cathexis may take actions which could be to the "potential detriment" of ISG shareholders.

Shares in ISG were down 2.8% to 168.00 pence on Wednesday morning.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

More News

28 Oct 2011 16:53

Interior Service acquires Alpha

Construction firm Interior Service group has completed the acquisition of the business assets of the French branch of Alpha International SARL for an initial consideration of £1.5m. A maximum further consideration of around £5.9m is payable after the two financial years to 30 June 2013, depending

6 Sep 2011 08:41

Interior Services shows signs of recovery

Construction firm Interior Services is showing signs of recovery, with revenue rising by 23% for the year to 30 June. Revenue climbed from £972m to £1,196m, which led to an increase in pre-tax profits from £8.7m to £9m. Chief executive officer David Lawther said: "We are very pleased with these

8 Mar 2011 07:40

Small caps round-up: Independent Media Distribution, AZ Electronic...

Bid target Independent Media Distribution achieved record sales and profits in 2010. turnover rose to £10.14m in 2010 from £8.08m while normalised profit before tax, which strips out one-off items, climbed to £2.41m from £1.68m. The TV commercials distributor had a positive cash balance at the en

8 Sep 2010 15:36

Interior Services bouncing back

The order book at construction services group Interior Services is heavily weighted towards the private sector, the company was keen to point out as it announced a set of full year results that were in line with management expectations. The company, seeking to play down concerns about the impact o

1 Jul 2010 09:29

Small caps round-up: Zotefoams, TT electronics, Cape...

Foam maker Zotefoams said trading is ahead of the expectations for the first six months of the 2010."Although we remain cautious that trading conditions in the remainder of the year may be more challenging, we expect profit before tax to be above market expectations for the year as a whole. The gr

1 Jul 2010 07:41

Interior Services FY Trading In Line, To Halts Japan Operations

LONDON (Dow Jones)--Interior Services Group PLC (ISG.LN), a construction and project management services company said Thursday trading for the year ended June 30 has remained resilient in-line with management expectations, adding that the Japanese market has shown no sign of recovery in the investme

21 Jun 2010 16:00

UK SMALLCAP ROUNDUP: Eckoh Sees Return To 1H 2011 Profit

Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps ECKOH PLC (ECK.LN), a voice recognition specialist, expects to return to a profit in the first half of fiscal 2011 after posting a narrowed pretax loss f

21 Jun 2010 12:30

UK SMALLCAP ROUNDUP: Photo-Me Fined GBP500,000 By FSA

Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps PHOTO-ME INTERNATIONAL PLC (PHTM.LN), a photo booth operator, was Monday fined GBP500,000 by the U.K. Financial Services Authority for failing to keep in

21 Jun 2010 08:53

UK SMALLCAP ROUNDUP: GW Pharm Seeks More EU Sativex Approvals

Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps GW PHARMACEUTICALS PLC (GWP.LN), a drug company, Monday said it will apply to sell multiple sclerosis medicine Sativex in other European countries during

21 Jun 2010 07:53

Interior Services Group Buys Moscow Fit-Out Firm Olson

LONDON (Dow Jones)--U.K.-based new-build, refurbishment and fit-out company Interior Services Group PLC (ISG.LN) Monday said it has acquired specialist Moscow-based fit-out company Olson Enterprises CJSC for a nominal amount as it looks to expand its market share in the Russian capital. Interior

21 Jun 2010 07:00

Interior Serv. Grp. Acquisition Of Moscow Fit Out Company

TIDMISG RNS Number : 9079N Interior Services Group PLC 21 June 2010 ? Interior Services Group plc ("ISG") Acquisition of Moscow Fit Out company ISG is pleased to announce that it has acquired Olson Enterprises CJSC ("Olson"), a specialist Fit Out company based in Moscow, Russia. Olson, establis

10 Jun 2010 08:40

Interior Services Group European Order Book GBP32M At April 30

LONDON (Dow Jones)--Interior Services Group PLC (ISG.LN) said Thursday its customers have continued to invest across Europe, and the company has encountered some further slippage of activity into the next financial year. MAIN FACTS: -The order book for the company's European business as at A

25 May 2010 08:39

Small caps round-up: Surgical Innovations, Hydro Int'l, European Inv Tst , ...

Surgical Innovations, the designer and manufacturer of surgical devices, is trading in line with expectations and said it is extremely confident for the year ahead. "We are extremely confident for the year ahead and look forward to providing a further update at the interim results in September," sa

11 Dec 2009 16:37

Galliford Try chief exec builds up stake

Greg Fitzgerald, chief executive of Galliford Try, has lifted his stake in the construction group. He took 13,490 shares at 296.5p a time, paying a total of about £40,000, and now has 585,008. Shares in the company have jumped by about 40% in the past year. Last week it announced its acquisitio

4 Dec 2009 08:14

Small caps round-up: Lees, Pubs 'n' Bars, Parity...

Scottish cake and sweet maker Lees Foods has reached an 'amicable settlement' with the former directors of Patisserie UK after a dispute over the disappointing performance of the pastry supplier following its acquisition by Lees. Under the terms of the settlement, Lees will receive about £225,000,

Latest Share Chat

ISG.L Share News (ISG)

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

ISG Switches Position, Advises Shareholders To Accept Cathexis Bid

Login to your account

Quickpicks are a member only feature

Login to your account