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ITE Group acquires portfolio of events in Africa

Fri, 06th Mar 2015 14:33

Exhibitions group ITE has acquired a major stake of a portfolio of events for £16m, funded by a placing of new shares.ITE now holds 50.1% of the portfolio, which includes the Africa Oil Week event, while GPP Energy Advisors holds the remaining stake.The group said put and call options were in place over the next ten years to entitled it to acquire the remaining shares for an overall consideration of £50m.Broker Numis Securities led £12m a fundraising with the placing of 7.2m shares at a price of 167.5p apiece to help fund the acquisition.Chief executive Russell Taylor said the acquisition will expand the business in Africa, where "economic growth rates are expected to be high and the exhibition industry is currently at an early stage of development".The deal is expected to increase earnings in the first twelve months.Shares were up 5.95% to 185.68p on Friday at 14:34.
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3 Oct 2016 11:25

ITE Group endures slump as events turn geopolitical

(ShareCast News) - Events and exhibitions organiser ITE Group warned that its bookings for next year were slightly behind this year due to challenging conditions in several markets, especially Turkey. For the current year, although like-for-like revenues fell 8% in the fourth quarter, 52-week sal

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3 Oct 2016 08:10

BUZZ-ITE: shares dive after bookings hit by Turkey coup attempt

** Shares in exhibition organiser ITE Group down as much as 6.6 pct, poised for their worst day since late July ** Co says recent attempted coup in Turkey has significantly affected international travel to the region, hurting its bookings on Turkish events ** Co says rev for 3 months

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19 Jul 2016 15:44

Ebiquity CFO to join ITE Group

(ShareCast News) - ITE Group said it has appointed Andrew Beach as chief financial officer. Beach is currently CFO at Ebiquity plc, the AIM listed marketing analytics specialist. He will join ITE by the beginning of January 2017. Des McEwan will continue as interim group finance director until this

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19 Jul 2016 07:33

ITE Poaches Andrew Beach From Ebiquity As New Chief Financial Officer

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12 Jul 2016 07:00

ITE Group Revenue Declines 21% In Third Quarter But On Track For Year

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5 Jul 2016 15:04

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17 May 2016 07:48

ITE Group Says GPP Energy Sells Entire Stake Via Placing (ALLISS)

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16 May 2016 16:58

GPP To Sell Shares In ITE After Exercising Put Option Over Africa Oil (ALLISS)

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9 May 2016 07:57

ITE Group H1 profit up, new CEO appointed

(ShareCast News) - Events company ITE Group posted a rise in first-half pre-tax profit as it announced the appointment of a new chief executive. For the six months to the end of March, pre-tax profit was up 36% to £10.6m as revenue grew to £63.6m from £56.1m. Chief executive Russell Taylor said:

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9 May 2016 06:37

ITE Names New CEO As Interim Profit Rises But Dividend Trimmed

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4 Apr 2016 15:57

Broker tips: M&S, Kingfisher, ITE Group

(ShareCast News) - Ahead of Marks & Spencer's results on Thursday, Berenberg reiterated its 'sell' recommendation and cut its earnings forecasts for the next three years due to the continuing decline in clothing sales. Thursday's fourth-quarter results for the three months to 31 March 2016, coming a

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4 Apr 2016 13:00

Canaccord leaves ITE Group at 'hold' after trading update

(ShareCast News) - Canaccord Genuity has kept its 'hold' rating and target price of 145p unchanged for ITE Group after the exhibitions organiser reported its first half trading update. The company on Monday reported a 12% increase in first half revenue to £63m, lifted by strong performances from acq

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4 Apr 2016 06:34

ITE Group Trading In Line With Total Revenue Up But Like-For-Like Down

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