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07 October 2010 Grainger plc Director Shareholdings Grainger plc announces that it has received a notification dated 7 October 2010 from Standard Life Investments Limited that, following a transaction on 6 October 2010, they now have a total interest in 32,760,205 ordinary shares of the company representing 7.869% of the total voting rights. For and on behalf of Grainger plc M P Windle Assistant Company Secretary
I guess we have to trust the management on this and I assume that the sale is to reduce debt. Comes across as a bit of a fire sale but who knows they may have an even better investment opportunity in the wings. I'm happy long on this one and will tolerate the short term ups and downs. I was even able to build it into my ISA which is worth considering due to both potential capital gains and dividends. Good Luck All.
Grainger plc ('Grainger'/ the 'Company'/ the 'Group') Grainger strengthens its management team with the appointment of three executive directors to its Board Grainger plc, the UK's largest listed specialist residential property owner and manager, today announces the appointment of three new executive directors to its Board. Nick Jopling will join Grainger as Executive Director responsible for property and real estate matters. Nick is currently Head of Residential at CB Richard Ellis where he also chairs the UK Development Board and the European Residential Group. Prior to joining CB Richard Ellis in 2004, Nick was Managing Director of Allsop & Co Residential Investment Management Business for five years growing it to manage a portfolio of some 4,500 units. He is a well known figure in residential circles, was a founding member of the IPD Residential Index Committee and is a member of the British Property Federation Residential Committee. Mark Greenwood will join the Board as Finance Director. Mark has worked in finance since 1982 and held a number of senior positions within Alfred McAlpine Plc from 1989 to 2008. In particular from 1999 he served as Finance Director of the Special Projects Division and subsequently the Project Services Business team which included joint venture relationships and PFI investments. He acted as Group Finance Director from 2007 until its takeover in 2008. The Board is also pleased to announce that Peter Couch is appointed to the Board, effective 1 June 2010, as Executive Director responsible for Grainger's Retirement Solutions business. He will continue to act as Chief Operating Officer, a position he was appointed to in 2009. Peter joined Grainger in 2005 and since that time he has grown the Retirement Solutions business to become a market leader with some £480 million of assets. The business has been Mortgage Solutions Best Home Reversion Provider for four successive years. Prior to joining Grainger, Peter spent most of his career in the financial services sector and held several senior roles within the AMP Group including Managing Director of 'In Retirement Services' at NPI and Sales Director at AMP Bank. The commencement dates for Nick and Mark will be confirmed in due course. All appointments are subject to final FSA approval. Peter Couch currently owns 72,542 shares in the Company. There is no further information required to be disclosed pursuant to Listing Rule 9.6.13R. Commenting, Andrew Cunningham, Chief Executive, said; "We are very pleased to be welcoming people of such strong calibre to the Grainger Board. These are proven, experienced individuals who will provide a great combination of residential, financial and operational expertise to the Company." Robin Broadhurst, Chairman, said; "Grainger's recent refinancing and successful rights issue has put the Group in a stron
Good article Kelster. Something of a shake up of investors yesterday with the fall. Back up again today for those that held on and did not worry about their profits. For those that bailed, with caution suggest reviewing this investment again; lots going in this companies favour DYOR
Grainger plc (“Grainger”/ the “Company”) GRAINGER ACQUIRES TENANTED RESIDENTIAL PORTFOLIO IN £15.3 MILLION OFF-MARKET TRANSACTION Grainger plc, the UK’s largest specialist quoted residential property company, today announces that it has acquired PHA Limited for a total consideration of £15.3m. The company owns 162 residential properties located in Devon. The purchase price reflects a cash on cash yield of 5.7%. The properties, the majority of which were developed in the 1950’s and 1960’s, comprise 146 houses, 16 purpose built flats and 73 garages. Fifty of the units are subject to regulated tenancies, twelve are subject to assured tenancies and the remainder are let on Assured Shorthold Tenancies, together with a vacant property, a commercial tenancy and two development sites. The portfolio currently generates a total rent roll of more than £876,000 per annum. Grainger estimates the portfolio value to be £17.2m. Whilst the portfolio has been very well maintained over the years there remain numerous opportunities to enhance income and extract the reversionary value through selective refurbishment and modernisation. Commenting on the transaction, Andrew Cunningham, Chief Executive said; “Following our successful rights issue, we have been reviewing various acquisition opportunities that fit with our existing holdings and our ongoing asset management strategy, and that will benefit from the activities and expertise of our residential management team. “This is a significant portfolio, in the south west of the UK, which we have acquired in an off-market transaction. We have a strong presence in this area, understand the local market well, and therefore believe that this acquisition offers a number of opportunities for us to deploy our property and asset management expertise, creating value over the medium to long term.” For further information: Grainger plc Andrew Cunningham/Dave Butler Tel: +44 (0) 20 7795 4700 Tel: +44 (0) 191 261 1819
I am quite happy with the rights issue and will be taking up my share of them. I believe that it is the right thing to do to put the company on a sound footing moving forward. As I am the only shareholder (with a voice) my vote will go unchallenged. How powerful am I?
PROPOSED 2 FOR 1 RIGHTS ISSUE TO RAISE GROSS PROCEEDS OF APPROXIMATELY £250 MILLION Strengthened financial position will enable the Group to make compelling acquisitions The Board of Grainger plc today announces the details of a fully underwritten Rights Issue to raise gross proceeds of approximately £250 million (approximately £238 million net of expenses) by the issue of up to 277,628,724 New Shares through a 2 for 1 Rights Issue at 90 pence per New Share. Grainger's audited results for the year ended 30 September 2009 have been released today in an accompanying announcement. Summary •Fundraising totalling £249.9 million (gross) by way of a fully underwritten rights issue made on the basis of: 2 New Shares at 90 pence per New Share for every 1 Existing Share held by Qualifying Shareholders at the close of business on the Record Date •Issue of up to 277,628,724 New Shares (representing 200.0 per cent. of the existing issued share capital and 66.7 per cent. of the enlarged issued share capital immediately following completion of the Rights Issue) The Issue Price represents a 40.2 per cent. discount to the theoretical ex-rights price based on the closing middle-market price of 271.4 pence per Ordinary Share on 4 November 2009 (being the last business day before the announcement of the terms of the Rights Issue) and a 39.7 per cent. discount to the theoretical ex-rights price based on that closing pri
investors by Arbuthnot Securities Limited. The Placing Shares will, when issued, rank pari passu with the Company's existing issued ordinary shares, and dealings are expected to commence in the Placing Shares on Monday, 19 October 2009 ("Admission"). Alan O'Brien, Chief Executive Officer for Sabien said: "I am very pleased by the support we have received from existing and new shareholders. The funds raised through this placing provide Sabien with the resources to pursue its growth strategy in the European and US markets and to repay its loan to TVI 2 leaving the company completely debt free. Early repayment of the TVI 2 loan means that approximately 50 per cent. of the warrants issued to TVI 2 will be cancelled. I would also like to thank all our advisers for a job well done." Total Voting Rights Following Admission, the total number of issued ordinary shares of 5 pence each in the Company (the "Ordinary Shares") will be 31,486,511. The Company does not hold any Ordinary Shares in treasury. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules. For further information: Sabien Technology Group plc Alan O'Brien, CEO Tel: +44 (0) 20 7993 3700 Gus Orchard, CFO www.sabien-
RNS Number : 7162A Sabien Technology Group PLC 14 October 2009  14 October 2009 Sabien Technology Group plc ("Sabien" or "the Company") GBP1.475 million Placing Placing of 4,916,000 Ordinary Shares at 30 pence per share to raise approximately GBP1.475 million from institutional and other investors Placing to support the Company's growth and working capital requirements Funds raised will also allow the Company to repay the TVI 2 Limited ("TVI 2") loan early thereby reducing the number of warrants issued to TVI 2 from 2,952,279 to 1,518,356 and leaving the Company debt free Sabien, the manufacturer and supplier of M2G, an energy efficiency technology, is pleased to announce that it has conditionally placed 4,916,000 new ordinary shares of 5 pence each (the "Placing Shares") at a price of 30 pence per share (the "Placing Price"), raising approximately GBP1.475 million (before expenses) for the Company from a number of institutional and other investors (the "Placing") through Arbuthnot Securities. The funds raised from the Placing will provide Sabien with the capital necessary to support the Company's working capital requirements and will allow it to continue to grow its prospective pipeline for the installation of M2G devices, which currently stands at c. 3,000 devices. The Placing Shares have been conditionally placed with institutional and oth
I don't quite understand the position today- the finance seems sorted, the share price goes up by 7% earlt on, the markets are generally up and yet I find the share price is now down 8%. Can anybody explain-is there news that I've missed?
and £425 million of term loans maturing in June 2013. As a result of the above, the Group now has no core debt facilities maturing in its financial year to September 2010, with only £109 million maturing in its financial year to September 2011 and only £57 million in its financial year to September 2012.The Group continues to be highly cash generative. The method of calculation and limits under the Group’s existing financial covenants remain unchanged by the negotiation of these new facilities. The Group’s headroom as at 30 September was approximately £170 million. Following this successful refinancing, Grainger’s average cost of debt (based on current LIBOR rates) is 5.5% (previously 4.6%). This would reduce to 5.2% should the Loan to Value ratio on the facilities fall below 60% (67% as at 30 June 2009). Andrew Cunningham, Grainger’s Finance Director and Acting Chief Executive Officer, commented: “This refinancing results in Grainger having far greater certainty over its medium term financing. Under the old facilities there were aggregate debt repayments of about £900 million to be made by June 2011. These are now reduced to about £110 million on 30 June 2011 and a minimal amount in the 18 months after that.” For further information: Grainger plc Andrew Cunningham/Nick On/Dave Butler Tel: +44 (0) 191 261 1819 +44 (0) 20 7795 4700
Grainger plc (“Grainger” or the “Group”) GRAINGER SIGNS NEW BANKING FACILITIES WITH EXTENDED MATURITIES Grainger signs £615 million of Forward Start Facilities, significantly strengthening the Group’s liquidity profile until December 2012 In its Interim Management Statement of 12 August 2009, Grainger stated that it was in discussions with its lending banks regarding the planned refinancing of certain of its credit facilities. Grainger now announces that it has successfully signed two new forward start credit facilities totalling £615 million which will provide extended liquidity for the Group at the time that certain of its existing facilities expire. These two new facilities comprise a £250 million committed term loan which will become available in June 2010 and a £365 million committed term loan available in June 2011. They will, on those dates, be used to refinance existing revolving credit facilities of £400 million and £475 million that mature on those dates. As a separate matter, those facilities have now been reduced to £250 million and £445 million respectively, which the Group has been able to do by utilising excess short-term committed but undrawn facilities. Both the new forward start facilities will mature in December 2012. The other facilities under Grainger’s core borrowing agreement are a £228 million revolving credit facility maturing in December 2012 an