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Pin to quick picksM&C Saatchi Share News (SAA)

Share Price Information for M&C Saatchi (SAA)

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Share Price: 208.00
Bid: 207.00
Ask: 208.00
Change: 0.00 (0.00%)
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Open: 208.00
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AIM WINNERS & LOSERS: M&C Saatchi soars on Next Fifteen buyout offer

Fri, 20th May 2022 11:19

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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AIM - WINNERS

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M&C Saatchi PLC, up 35% at 222.00 pence, 12-month range 119.07p-227p. Digital marketing services firm Next Fifteen Communications waded into M&C Saatchi's takeover drama by making a GBP310.1 million cash-and-shares offer. The company is offering 0.1637 of a Next Fifteen share and 40p in cash for each M&C Saatchi share, valuing M&C Saatchi shares at 247.2p each. This deal represents a 48% premium to M&C Saatchi's closing price of 167.5p on January 4, the last business day before London-listed acquisition vehicle AdvancedAdvT said it has taken a minority stake. M&C Saatchi was already the target of a hostile takeover attempt by AdvancedAdvT. Under AdvancedAdvT's most recent offer, shareholders in M&C Saatchi will for each share held either receive 2.043 new shares in AdvancedAdvT and 40p in cash, or receive 2.530 new AdvancedAdvT shares. At the time the offer was made, this valued each share of M&C Saatchi at 207.5 pence and GBP253.6 million in total. However, M&C Saatchi rejected the offer, calling it "derisory". Instead, the board is recommending Next Fifteen's takeover offer and urged shareholders to take no action in respect of AdvancedAdvT's offer. Next Fifteen was up 1.4% and AdvancedAdvT up 4.4%.

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Eagle Eye Solutions Group PLC, up 12% at 472.00p, 12-month range 384p-675p. Expects full-year earnings to be ahead of market expectations as a result of its strong trading performance and a number of "significant" new customer wins in the year. The London-based marketing solutions provider says it now expects revenue for the year ending June 30 to be 7% ahead of market expectations of GBP28.1 million and adjusted earnings before interest, tax, depreciation and amortisation to be 10% of market expectations of GBP5.2 million. In its most recently ended financial year, revenue stood at GBP22.8 million and adjusted Ebitda totalled GBP4.2 million.

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AIM - LOSERS

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Tintra PLC, down 6.1% at 126.80p, 12-month range 33p-375p. Says proposed sale of lottery administration business has taken "far longer to complete" than either party expected. Transaction expected to close "broadly as originally anticipated." Comes up with solution to achieve dual goal of completing the transaction with Sterling and freeing up company to complete its funding round. Sets up special purpose acquisition to allow for continued operation of Prize Provision Services. "The nature of the structure is such that once the transaction with Sterling completes, the eventual proceeds of the sale will be received by the company after settling the liabilities of PPS. The board expects the proceeds received from the transaction, will be equal to, or materially the same as, that outlined in the announcement of 21 October 2021," it says.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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M&C Saatchi suitor AdvancedAdvT makes fresh offer with cash alternative - Sky News

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