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EXECUTIVE CHANGES: Mode Global and Omega Diagnostics lose CEOs

Wed, 19th Jan 2022 15:18

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Wednesday and not separately reported by Alliance News:

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Mode Global Holdings PLC - bitcoin banking app based in London - Ryan Moore resigns immediately as chief executive officer. Mode Global provides no reason for Moore's departure but says Executive Chair Jonathan Rowland will take over the day-to-day duties of CEO. "I would like to thank Ryan for his contribution to Mode over his time as CEO. I wish him well in all his future endeavours," Rowland says.

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Omega Diagnostics Group PLC - Alva, Scotland-based medical diagnostics company - CEO Colin King resigns immediately, having served for six and a half years. Promotes Jag Grewal, currently managing director of the Health & Nutrition division, to CEO. Notes Grewal has 25 years' commercial experience in the fields of in vitro diagnostics, life science research and drug discovery. Additionally, Bill Rhodes resigns as non-executive director, departing at the end of February. Omega will look for a new non-executive director.

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M&C Saatchi PLC - London-based advertising agency - Mickey Kalifa resigns as chief financial officer for "personal reasons". A search for a replacement has begun, and Kalifa will remain for a handover and to complete the 2021 audit. Earlier this month, M&C Saatchi received a takeover approach from London-listed acquisition vehicle AdvancedAdvT Ltd, but M&C Saatchi directors have expressed scepticism about the all-share proposal.

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Dialight PLC - London-based industrial LED lighting - Confirms Clive Jennings as permanent CFO, having been interim CFO since May last year. Jennings, who previously served as CFO of casino operator Rank Group PLC and interim CFO of cleaning and hygiene products maker McBride PLC, had replaced Wai Kuen, who had stepped down as CFO to return to Singapore.

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XLMedia PLC - Henley-on-Thames-headquartered marketing firm operating in online gaming, personal finance and sports - Non-Executive Chair Christopher Bell will step down from the board after a transfer to a new chair, having served for eight years. Bell is due to become non-executive chair of Nueva Codere, a gaming operator.

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Go-Ahead Group PLC - Newcastle-based passenger transport company - Says recount of vote at annual general meeting held on December 21 showed that Senior Independent Director Adrian Ewer had received fewer than 50% of votes in favour of his being re-elected as a director. Therefore, Ewer, who already was scheduled to depart at the end of his nine-year term, is stepping down immediately from the board. David Blackwood, who previously was announced as the new senior independent director, will take over immediately.

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By Tom Waite; thomaslwaite@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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16 Nov 2022 15:29

DIRECTOR DEALINGS: Darktrace CTO and outgoing Grafton CEO sell shares

(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced in the past week and not separately reported by Alliance News:

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31 Oct 2022 19:54

IN BRIEF: Next 15 looks to future with confidence as ends M&C pursuit

Next Fifteen Communications Group PLC - London-based digital marketing firm - Voters at court meeting do not accept Next Fifteen's bid to buy London-based advertising agency M&C Saatchi PLC. M&C says over 89% of voters decide against the proposal. The outcome was expected. "As a result of the failure to pass the required resolution at the M&C Saatchi reconvened court meeting, the scheme has lapsed and the acquisition of M&C Saatchi PLC by Next 15 has terminated," Next 15 says. Company adds: "Next 15 will always maintain pricing discipline when pursuing its M&A strategy, which may result in certain transactions not proceeding. The board remains highly confident in the Next 15 group's future prospects."

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31 Oct 2022 15:22

Next Fifteen ends bid for M&C Saatchi

(Sharecast News) - Next Fifteen said on Monday that it has terminated its bid for advertising firm M&C Saatchi after failing to get shareholder support.

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25 Oct 2022 15:31

Next Fifteen not hopeful of winning over M&C Saatchi shareholders

(Alliance News) - Next Fifteen Communications Group PLC on Tuesday said its own shareholders backed the acquisition of M&C Saatchi PLC, though it expects the advertising company's investors to reject it when they have their say later this month.

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24 Oct 2022 15:50

UK shareholder meetings calendar - next 7 days

Tuesday 25 October 
Hammerson PLCGM re proposed capital reduction
International Consolidated Airlines Group SAEGM 
Next Fifteen Communications Group PLCGM cash and share acquisition
Rio Tinto PLCGM re China Baowu Steel Group deal
Tritax EuroBox PLCGM Investment Management Agreement
Vertu Capital LtdGM readmission of ordinary shares
Wednesday 26 October 
JPMorgan Global Growth & Income PLCAGM
KCR Residential REIT PLCAGM
International Consolidated Airlines Group SAEGM aircraft purchase
Mid Wynd International Investment Trust PLCAGM
Mirada PLCAGM
Omega Diagnostics Group PLCAGM
Thursday 27 October 
Alumasc Group PLCAGM
Anglesey Mining PLCAGM
Brooks Macdonald Group PLCAGM
City Of London Investment Trust PLCAGM
Filtronic PLCAGM
Hargreaves Services PLCAGM
National Milk Records PLCAGM
Ovoca Bio PLCAGM
PCI-PAL PLCAGM
Provexis PLCAGM
Real Good Food PLCAGM
South32 LtdAGM
TheWorks.co.uk PLCAGM
TruSpine Technologies PLCAGM
Tufton Oceanic Assets LtdAGM
Wesfarmers LtdAGM
Friday 28 October 
ITM Power PLCAGM
Kibo Energy PLCAGM
Mattioli Woods PLCAGM
Shepherd Neame LtdAGM
Tirupati Graphite PLCAGM
The Investment Co PLCAGM
Monday 31 October 
Aberforth Split Level Income Trust PLCAGM
B&M European Value Retail SAGM appointment of directors
Brown Advisory US Smaller Cos PLCAGM
City of London Investment Group PLCAGM
GSTechnologies LtdAGM
London Finance & Investment Group PLCAGM
M&C Saatchi PLCGM re takeover offer from Next Fifteen Communications
Springfield Properties PLCAGM
Superdry PLCAGM
Tavistock Investments PLCAGM
Time Finance PLCAGM
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

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21 Oct 2022 12:09

IN BRIEF: Next Fifteen says M&C Saatchi offer will not be approved

Next Fifteen Communications Group PLC - London-based digital marketing firm - Admits that takeover offer for London-based advertising agency M&C Saatchi PLC is unlikely to be approved by M&C Saatchi shareholders at a general meeting called for October 31. London-listed takeover vehicle AdvancedAdvT Ltd and its chair Vin Murria, who together hold 22% of M&C Saatchi shares, are bound to vote against the scheme, due to a previous statement, Next 15 notes. AdvancedAdvT's rival offer for M&C Saatchi lapsed at the end of last month. While the board of M&C Saatchi at first had favoured Next Fifteen's offer, a decline in the Next Fifteen share price caused the M&C Saatchi board in June to withdraw support for the offer, which was a mix of cash and shares.

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14 Oct 2022 12:58

AdvancedAdvt loss widens as incurs costs from failed M&C Saatchi deal

(Alliance News) - AdvancedAdvt Ltd on Friday reported a significantly widened loss after its failed attempt to acquire advertising agency M&C Saatchi PLC, but it retained significant cash for further acquisitions.

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6 Oct 2022 17:18

TRADING UPDATES: Nostra revenue rises; Synergia eyes Cambay farm-out

(Alliance News) - The following is a round-up of updates by London-listed companies, issued last week and not separately reported by Alliance News:

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6 Oct 2022 17:17

TRADING UPDATES: Nostra revenue rises; Synergia eyes Cambay farm-out

(Alliance News) - The following is a round-up of updates by London-listed companies, issued last week and not separately reported by Alliance News:

Read more
6 Oct 2022 17:17

TRADING UPDATES: Nostra revenue rises; Synergia eyes Cambay farm-out

(Alliance News) - The following is a round-up of updates by London-listed companies, issued last week and not separately reported by Alliance News:

Read more
26 Sep 2022 15:33

IN BRIEF: M&C Saatchi rejects AdvancedAdvT offer again before deadline

M&C Saatchi PLC - London-based advertising agency - Board continues to unanimously reject takeover offer from AdvancedAdvT Ltd, as Friday deadline for acceptances looms. AdvancedAdvT is M&C Saatchi's largest shareholder, and it is chaired by Vin Murria, a former member of M&C Saatchi's board. Under AdvancedAdvT's offer, shareholders in M&C Saatchi would receive 2.043 new shares in AdvancedAdvT and 40p in cash, or receive 2.530 new AdvancedAdvT shares.

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15 Sep 2022 15:10

AdvancedAdvT urges M&C Saatchi shareholders to accept final offer

(Alliance News) - AdvancedAdvT Ltd on Thursday urged shareholders in M&C Saatchi PLC to accept the final offer made in an acquisition attempt as it issued an update on acceptance levels.

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13 Sep 2022 14:01

IN BRIEF: M&C Saatchi rejects "derisory" AdvancedAdvt takeover offer

M&C Saatchi PLC - London-based advertising agency - Unanimously recommends that M&C Saatchi shareholders reject an offer by AdvancedAdvt Ltd by taking no action in relation to it. Explains that the company has a strong standalone future with record results for 2021, and strong results for the first half of 2022. Further, it believes that the original offer price is to low and fails to reflect its growth and opportunities. Adds that the offer has a high risk of damaging its culture, triggering a talent exodus, and could potentially lead to revenue loss and value destruction.

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13 Sep 2022 10:12

M&C Saatchi reiterates rejection of 'derisory' ADV offer

(Sharecast News) - M&C Saatchi reiterated its rejection on Tuesday of what it called a "derisory" takeover offer from largest shareholder Advanced Advt.

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8 Sep 2022 19:15

AdvancedAdvT ups ante in bid to take control of unwavering M&C Saatchi

(Alliance News) - Advertising agency M&C Saatchi PLC on Thursday once again called on its shareholders to reject a takeover bid by AdvancedAdvT Ltd, after the latter moved to expedite proceedings.

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