7 Dec 2016 16:09
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Don't have an account? Click here to register.Powerflute Oyj takeover goes unconditional
Mon, 14th Nov 2016 11:10
(ShareCast News) - Nordic Packaging and Container Finland Holdings declared its recommended cash offer for Powerflute Oyj wholly unconditional on Monday, having received acceptances to the offer representing more than 90% of the issued and to be issued shares in Powerflute.As a result, Powerflute announced on Monday morning that - in accordance with the requirements of Rule 41 of the AIM Rules for Companies, and as set out in the offer document relating to the offer dated 26 September - that at the request of Nordic it has applied for cancellation of admission to trading on AIM of its shares and depositary interests."Cancellation of admission to trading on AIM is likely to reduce significantly the marketability and transferability of any Powerflute shares or depositary interests in respect of which the offer has not been accepted," Powerflute's board warned in a statement."Holders of securities in Powerflute wishing to effect transfers of their securities should be aware that the procedure for acceptance of the offer is set out in the offer document."The cancellation is expected to take effect from 0700 GMT on or shortly after 13 December.
More News
15 Sep 2016 15:25
Powerflute agrees 90p a share takeover offer
(ShareCast News) - Powerflute has received a £268m offer from an affiliate of US private equity firm Madison Dearbon Partners. The offer from Nordic Packaging and Container Holdings (Bidco) is for 90p in cash per share, which is a premium of around 22% to the closing price of 73.75p on Wednesday. B
Read more15 Sep 2016 08:46
Paperboard firm Powerflute says to be bought for $354 mln
HELSINKI, Sept 15 (Reuters) - Finnish paperboard company Powerflute Oyj recommended cash offer from private equity firm Madison Dearborn Partners LLC for 268 million pounds ($354 million), it said on Thursday. Powerflute, founded by Dermot Smurfit from the family behind Ireland's packaging
Read more16 Aug 2016 14:27
Revenue down and earnings stable at Powerflute Oyj
(ShareCast News) - Powerflute Oyj announces its unaudited interim results for the six-month period to 30 June on Tuesday, with revenues excluding non-recurring items decreasing to €176.1m from €179.7m a year ago. The AIM-traded firm said EBITDA from operating activities was €26.5m on the same basis,
Read more19 Jul 2016 11:32
UPDATE 1-John Menzies bows to investor demands for new chairman
(Adds comments by John Menzies, investor) LONDON, July 19 (Reuters) - UK airport services and logistics group John Menzies has appointed Irish paper and packaging industry tycoon Dermot Smurfit as its new chairman, answering a key demand from new activist investor Shareholder Value Manageme
Read more19 Jul 2016 07:03
John Menzies bows to investor demands by appointing new chairman
LONDON, July 19 (Reuters) - Britain's John Menzies said on Tuesday it had appointed paper industry executive Dermot F Smurfit as independent chairman, answering a key demand from new activist investor Shareholder Value Management (SVM). SVM, which holds more than 7 percent of the distribut
Read more14 Jun 2016 15:02
26 May 2016 13:04
Powerflute sees more challenging trading in H2
(ShareCast News) - Powerflute OYJ continues to perform well in the first four months of 2016, with trading results broadly in line on the year, but expects the second half to be more challenging. Shares in the paper and packaging group were down a little more than 12% this afternoon. "In Coreboard
Read more18 May 2016 08:53
8 Mar 2016 14:58
Powerflute Oyj reports on stellar year
(ShareCast News) - Powerflute Oyj reported a stellar 2015 on Tuesday, with revenue and earnings growing significantly during the calendar year. The AIM-traded company saw group revenues rise 137.9% in its preliminary results, to €357.2m (£278m) from €150.1m. EBITDA, excluding non-recurring items was
Read more