Member Info for ms_moneypenny

Property investor Grainger PLC acquired a 261 home build-to-rent scheme in Buckinghamshire for GBP63.0 million from Peveril Securities Ltd. Grainger has conditionally agreed to buy the project in Milton Keynes which will be developed into a 261 home private rented sector site. The scheme has planning consent but the deal depends on the completion of a new YMCA building adjacent to the site. This will be part of the first phase of the wider development of the area. THe YMCA building is expected to complete in the third quarter of 2019. Grainger said it expects the home to be completed by the second half of 2021. On completion, it expects the investment to have a yield on cost of 6.3%.

Accrol Group Holdings said it intends to raise GBP8.0 million through a placing of 53.3 million shares at a price of 15.0 pence per share. Proceeds will go towards ensuring the restructuring programme to improve operational efficiencies can continue, paying the costs associated with the placing and support future working capital requirements. The shares raised are expected to reflect a 29% interest in Accrol's enlarged share capital. Executive Chairman Daniel Wright will purchase 1.3 million shares for GBP200,000, giving him 1.7 million shares in total, or a 1.0% stake. Chief Executive Officer Gareth Jenkins will acquire 500,000 shares for GBP75,000, meaning he will hold 600,000 shares, or a 0.3% interest. Interim Chief Financial Officer Martin Leitch will buy 266,666 shares for GBP40,000, which makes up his entire shareholding. Non-Executive Director Joanne Lake is expected to purchase 33,333 shares for GBP5,000, giving her 68,333 shares in total. In addition, Accrol has proposed an open offer to raise a further GBP2.0 million from shareholders by issuing 13.3 million shares at the same price.

RBS to close 162 branches with loss of 800 jobs as a result of a deal made with the European Union last year that meant the Edinburgh-based bank would no longer be forced to sell 300 branches. Instead 60% of them will be shut down. The EU had demanded the sale, to increase competition, as a condition of the RBS taxpayer bailout in 2009. RBS is still 71%-owned by taxpayers. The TSB computer systems crash last week has demonstrated without question that the banking system needs its branch network more than it ever has.The bank pledged to increase telephone banking services and improve online and app messaging services.

Tony Yarrow manager of the �105 million Wise Multi-Asset Income fund said that was a tactical move, hailing the �mightily sensible� deal. He highlighted the strength of Asda�s balance sheet, which he said was �massively stronger� than Sainsbury�s, as it owned around three-quarters of its store space and held virtually no debt. Sainsbury�s, by contrast, has around �1.3 billion of debt, and �1.8 billion if the supermarket�s preference shares are included in the calculations. The effective price of �7.3 billion Sainsbury�s will be paying for Asda, in the form of �3 billion in cash and Asda owner Walmart taking a 42% stake in the combined business, also represented good value given Asda�s �7.4 billion in net assets, Yarrow said. This is a deal that has been put together by 2 CEO friends, based upon a common problem ... desperation. Walmart bought ASDA in the UK, however, it has been losing market share to ALDI and LIDL for the last two years and the problem is growing in the discounter sector. Walmart has taken approx $2 Billion hit on this ''desperation deal'' to hand their problem to Sainsburys to sort out. Walmart wil come out of it with much needed $4 Billion cash to help with their home turf competition with Amazon and expansion plans in China and India. After 18 months, the competion & mergers will give the go-ahead and both Sainsburys and Asda will trade with their own identities having sold stores which overlap. Around 5 years from now, the 2 headquarters will become 1 (Asda will lose out). �It�s getting Asda for nothing,� he said. �The management have worked together, know each other very well, and there are lots of purchasing synergies. The geographical fit is fantastic. �Why did Sainsbury�s go up 20% yesterday? It�s because this looks like a really good deal for them.�

A sensitivity to working capital in US veterinary hospitals has necessitated a different approach, with the sensitivity leading to a reduction in both the rate of clinic sign up and of pet sign ups. Another 12 months maybe be needed to achieve volumes previously envisaged in the US, and as such, it expects sales and profits to be below expectations next year.

Chief executive Ian Smith joined three years ago as chairman and has overseen six acquisitions, four of which since he moved to take the CEO role last year, when profits before tax and exceptional items rose 24% to �4.3m and are forecast to grow to roughly �8m in the year to next May. The group's combined asset and loans portfolio stood at a value of �89.5m, an increase of 32%, with bad debts accounted for a charge of �0.9m, or only 1% of the total. Smith is focused on ensuring all acquisitions are integrated and aims to more than double the market cap from �42m to �100m.

The unaudited results for the six months ended 30 June 2017 with EBITDA increasing by 26% to £1.27m. New contracts signed in the half with the likes of Money Advice Service and the Social Workers Union, plus renewals with Udsaw and Prospect trades unions helped keep the company debt free and walk away from the period with £8.1m in cash and equivalents.

FirstGroup-MTR consortium is facing the threat of strike action over the role of guards on its trains.

Having successfully placed 3,626,118 new ordinary shares at a price of 35p per share to raise £1.27m in January 2017 Chelverton Equity Partners (CEPS) which is an industrial holding company continues making good progress. The Company is engaged in acquiring majority stakes in entrepreneurial companies. Its segments include Aford Awards, CEM Press, Davies Odell, Friedman's and Sunline. The Aford Awards segment operates as a sports trophy and engraving company. Its products include trophies, awards, medals and glass and crystal awards and gifts for all events, sports and occasions. The CEM Press segment manufactures fabric and wallpaper pattern books, swatches and shade cards. The Davies Odell segment manufactures and distributes protection equipment, matting and footwear components. Its main markets are equestrian, motorcycle, ski and snowboarding. The Friedman's segment converts and distributes specialist Lycra. It is a specialist textile importer, converter and distributor of plain to swimwear and dancewear manufacturers within the textile industry.

With double-digit increase in its first half sales and the recent acquisition of Grease Management (GMG) for up to £1.11m in cash. Over 75% of GMG's revenue is recurring in nature, with work typically being carried out quarterly under scheduled maintenance programmes. The company's customer base, which includes restaurants, supermarkets and airports, is similar to Filta's. The rise of take-away and eat out facilities can only benefit Filta!

Secured further growth and an increase in the number of properties it has under management following 12 franchisee led acquisitions during 2017. Of the 12 acquisitions, six were secured by Belvoir, five by Northwood, and a further one by Newton Fallowell. It now represents 57,637 properties under management, following the addition of 1,310 from these latest acquisitions. With more people renting than buying going forward, this will benefit the company.

Sold off its entire holding in laser diode and LED systems manufacturer ProPhotonix for £1.5m, which results in a £1m profit in the consolidated income statement, howver, proceeds will be used to reduce the debt.

PowerPax UK, is the fifth value adding acquisition made by the group in the last five years. Based in Theale, Berkshire, PowerPax is a specialist value-added manufacturer and distributor of a wide range of power supplies, battery chargers and LED products, including AC-DC switch mode power supply units and DC-DC converters. Formed in 2000, the business has well established relationships with suppliers and is recognised as a specialist in the low to medium power space.

Under a new agreement with an existing customer replacing all pre existing annual and three year term contracts the preferred supplier of back office workforce optimisation solutions for a minimum of five years along with new licence subscription sales made in the last month which will continue through the five year term. The total contract value over the term will be a minimum of £8.12m including £1.4m incremental revenue.This will add value in the next financial year and years to come.

McColl’s has also just agreed to take some Co-op branded items in place of Nisa branded products. Consolidation continues in the convenience sector with Sainsbury's pulling out and the Co-operative Group (Co-op) turning out to be the frontrunner to acquire store chain Nisa with a revised offer of £140m.

Manchester based debt recovery specialist, has announced plans to enter with Irish market with a £15.5m acquisition of Mars Capital’s Irish mortgage servicing business. It has also announced a strategic partnership in the UK and Ireland with Oaktree Capital Management, a global asset manager with around $100bn assets under management. Underlying pre tax profit has grown 35.5 per cent to £25.8m and revenue grew 47.6 per cent to nearly £150m.

Its manufacturing divisions performed well in the year to date, with an increasing order load in the Precision Machined Components and Engineered Products divisions, and a solid order book in the Cylinders segment, however, the Alternative Energy division is expected to post a result below market expectations. Full year results to be released on 12 December 2017.

Expects to report earnings for 2017 below expectations, blaming terrorist incidents in London and Manchester which led to some live events being cancelled. Additionally, it has been involved in fewer new theatre productions. David Stoller, chief executive officer is to step down at the end of September.

On a positive note dividend on 1.2p Ex dividend date 07/09/2017 to be paid 03/10/2017

Supplier of products and services to the agricultural industry and the rural economy. The Company's segments include Agriculture, which is engaged in manufacturing and supply of animal feeds, fertilizer, seeds and associated agricultural products; Specialist Retail, which supplies to a range of specialist products to farmers, smallholders and pet owners, and Other. Its Feed division, which operates approximately two compound feed mills and one blending plant, offers a range of animal nutrition products to the agricultural market. It operates approximately 50 Wynnstay Stores, which provide a range of products for farmers and rural dwellers. Its Just for Pets, which is based in Hartlebury in Worcestershire, has over 20 specialist pet product stores operating on retail sites throughout the West Midlands. Its Youngs Animal Feeds manufactures equine and small animal feeds from its production facility at Standon.