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Regus to set up Swiss holding company outside EU

Thu, 03rd Nov 2016 07:52

(ShareCast News) - Workplace provider Regus is to set up a new holding company outside the EU in Switzerland called International Working Group as part of its plan to provide work solutions across multiple brands.The new holding company will be incorporated in Jersey but have its headquarters in Switzerland, as it has several benefits, instead of Regus' current home in Luxembourg.The FTSE 250 company said that there "continues to be some medium to long term uncertainty surrounding the future shape of the EU and in particular its increasingly complex legislative environment."As Switzerland is outside the EU, the board considers that there may be advantages from being domiciled there."The company said as it develops globally there has been an "increasing presence of senior management located in Switzerland" as the financial control, treasury and procurement functions are all run from the country.It added that all of the directors of Old Regus have been appointed to the IWG's board and maintained that there no changes to corporate governance and investor protection measures which apply to IWG from those that currently apply to Old Regus.Meanwhile, the company reported that its revenue grew 8.1% to £1.6bn for the nine months ended 30 September at a constant currency basis, compared to last year, while post-tax cash returns on net growth investment have also increased further.The company said it is confident of delivering a full year performance in line with expectations.For the quarter ended 30 September, revenue increased 3.8% to £566.9m at constant currency rates, or 18.4% at actual rates.Underlying cash generation increased 52% year-on-year to £208.9m.During the third quarter 56 new locations were added to global network with associated growth capital investment of £43.1m, which included a £12.9m investment on propertiesIn the year to date, 169 new locations were added with net capital expenditure of £126.2m representing over 2.4m square feet of space added to the network, which totals more than 47m square feet, while 54 locations were closed.Net debt narrowed to £158.1m from £173.8m at the end of June.

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4 Nov 2016 16:42

Directors dealings: Regus finance chief picks up shares despite poor technical backdrop

(ShareCast News) - Regus's finance chief, Dominik de Daniel, picked up a large batch of stock despite the shares' daunting technical aspect. Dominik bought 173,000 shares on 4 November at an individual price of 239.7p for a total amount of £414,684.60, Regus said in a statement. The provider

12 Oct 2016 06:33

Bodycote Appoints Ex-Regus CFO Dominique Yates As Finance Director

20 Sep 2016 09:01

Regus CEO places 37m shares

(ShareCast News) - Mark Dixon, the founder and chief executive officer of flexible workspace provider Regus is selling 37m shares, equivalent to a 4% stake in the company, in an accelerated bookbuild. The shares are being placed at 275p each, with JPMorgan Cazenove acting as sole bookrunner. The pla

15 Aug 2016 10:50

Canaccord Genuity cuts Regus target price on uncertainty in UK

(ShareCast News) - Analysts at Canaccord Genuity cut their target price on Regus's shares to reflect part of the risk arising from their worst case scenario for the UK market. The flexible workspace provider's business model was highly sensitive to the macroeconomic health of its markets, analysts M

10 Aug 2016 15:59

LONDON MARKET CLOSE: Stocks Extend Rally Despite Brent Nearing USD44

10 Aug 2016 12:41

Wednesday newspaper share tips: Regus, Standard Life

(ShareCast News) - Regus appears to be on to something with its flexible business model and markets have caught on, the Financial Times´s Lex column said. Its stock was trading near its 2016 high on a price-to-earnings multiple of close to 25. The real estate firm not only owns its properties,

10 Aug 2016 11:44

Numis downgrades Regus, says shares 'up with events'

(ShareCast News) - Regus slumped on Wednesday, suffering a second day of losses as Numis downgraded its stance on the stock to 'hold' from 'buy' following the company's first-half results, saying the shares are up with events. The FTSE 250 workspace provider said on Tuesday that first-half profit ro

10 Aug 2016 11:05

LONDON MARKET MIDDAY: Stocks Consolidate Gains After Four-Day Rally

10 Aug 2016 08:35

BROKER RATINGS SUMMARY: Panmure Raises RSA Insurance To Buy From Hold

9 Aug 2016 09:43

WINNERS & LOSERS SUMMARY: Worldpay Bid Up After Strong First Half

12 Jul 2016 02:39

WeWork CEO sees $1 billion revenue run-rate in 2017

ASPEN, Colo., July 11 (Reuters) - The chief executive of WeWork said on Monday that the co-working office space provider would hit a revenue run-rate of $1 billion next year. WeWork, one of the biggest 'unicorns' - startups worth more than $1 billion - recently raised more than $400 million

7 Jun 2016 15:07

DIRECTOR DEALINGS: Regus Non-Executive Director Buys Shares

25 May 2016 12:04

RBC upgrades Regus after underperformance

(ShareCast News) - Flexible workspace solutions provider Regus got a boost on Wednesday as RBC Capital Markets upped the stock to 'outperform' from 'sector perform' and lifted the price target to 400p from 300p. The Canadian bank said the stock's recent underperformance was a good buying opportunity

25 May 2016 08:11

BUZZ-Regus: RBC upgrades after sell-off

** Office space supplier Regus +3.9%, among top FTSE 250 gainers in decent volume ** RBC Capital Markets - rated at 5 stars for recommendation accuracy on Regus, per StarMine - upgrades stock to "outperform" v "sector perform" ** Cites co's unrivaled market position, significant expan

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