Member Info for rumelt

Primary Health Prop. (UK): Combination with Assura (UK)

Changes in FTSE UK Index Series

13 August 2025

Following the shares and cash offer for Assura (UK, Constituent) by Primary Health Prop. (UK, constituent) being declared wholly unconditional, please see details of affected indexes and effective dates below:

Primary Health Prop. (UK, BYRJ5J1) will remain in the FTSE 250 Index.

Assura (UK, BVGBWW9) will be deleted from the FTSE 250 Index.

Chesnara (UK, B00FPT8) will be added to the FTSE 250 Index and deleted from the FTSE SmallCap Index.

All changes effective from 18 August 2025.

Full details of index changes are available on the FTSE Russell website.

Reuters report that Merck Mercuriadis, who stepped down as CEO to become Chairman in February, will step down as chairman on completion of acquisition.

Instead of using a third party forecasting site's guess (dividendmax) have a look at what M&G publish!

See https://www.mandg.com/investors/shareholder-information/dividends .

According to M&G, dividend will be announced with results on 21 March 2024; ex-div on 28 March, record date on 2 April, payment date 9 May.

Lottie123 09:13 - Anyone investing in a company enters into a partnership with the BoD's.

I think this is a mischaracterisation. Anyone investing in the company owns the company, and as an owner, in concert with all other owners, appoints a Board. If the Board is not performing in line with the majority of owners expectations, then the owners need to change the Board.

Obviously in the real world, without a mechanism to organise, small individual shareholders interests get swamped by better organised institutional or insider shareholders, but bulletin boards enable the organisation of small shareholders. - or they would if petty point scoring posts did not pollute the boards.

Headstrong management without shareholder governance checks will spend shareholders money in building an empire for themselves.

From https://www.rte.ie/news/courts/2023/1220/1423129-insider-trading/ ... Declan Service, of Sunnyvale Avenue, Portrush, Co Antrim, pleaded guilty to engaging in insider dealing on dates between 18 and 22 May 2020, when he used sensitive market information to sell shares before that information was made public.

Gearmáin in ionad Béarla, b'fhéidir. Cé a bhuaigh an Dara Cogadh Domhanda? Na saighdiúirí Meiriceánacha. Buiochas le Dia.

Re Lottie123, I think the Irish government analysed their relationship with the EU and believed it was best to be part of it - the UK Government decided it was best not to be part of it, a choice for sovereign governments to make. The Irish government adopted a tax strategy that suits the resources and needs of its economy; the UK government presumably sets it tax strategy after similar analysis. The Irish adopt a military neutral strategy and so spends little on defence, the UK government prioritises defence spending over say school buildings that don't fall down. These 3 choices are made by elected governments which presumably reflects the majority will of the electorate,

Re Scaffman 2/10/23 23:09 ... the reported problems in the Irish navy are not lack of vessels but lack of crew. Pay rates for naval personnel are reportedly too low, and so difficulty in recruiting. There are also reported problems about level of equipment on the vessels - most obviously a lack of SONAR. To address these problems - hiring and retaining sufficient crew by offering attractive wages and deploying SONAR to existing ships; does not offer any opportunities for H&W I don't think; and once the money is spent on these, it is unlikely there is an appetite within a neutral public for increased defence spending which would involve commissioning new ships.

Energy security ... that could be an opportunity but would require Stormont to work with Dublin

The takeover refers to the security issuer - LondonMetric Property; which has received a £198.6m takeover offer from CT Property Trust; see https://www.londonmetric.com/sites/london-metric/files/2023-05/LMP-FY-Results-2023-Press-Release.pdf. MnG is just a small shareholder in LondonMetric, but is required to notify other market participants of its shareholding because of the proposed takeover.

Alnwick, see https://www.sra.org.uk/solicitors/standards-regulations/accounts-rules/ rule 7.1 and rule 7.2, which requires a firm to account for a fair sum of interest on any client money but allows with consent of client to come to a written agreement to come to a different arrangement.

Does this not allow a firm to retain some element of interest income?

In Sept 2022, hVivo noted press speculation on an insider trading case in the Republic of Ireland. Today rte.ie reports - https://www.rte.ie/news/business/2023/0609/1388341-insider-trading-case/

... businessman has been before Dublin District Court charged with insider dealing, in what is the first prosecution of its type in the history of the state. 62 year old Declan Service, from Portrush in Co Antrim, was released on bail and will be back before the court in September.

.... from irishexaminer.ie, a National regional focussed newspaper in April 2018 ....

https://www.irishexaminer.com/business/arid-30837677.html

Integumen is listed on London’s AIM market and is 25%-owned by Irish drug development company Venn Life Sciences. It raised more than €2.6m via its IPO last year, which followed on from it acquiring Venn Life Sciences’ former healthcare innovation subsidiary. ... Declan Service, Integumen’s existing chief, has resigned with immediate effect.

Re TDF post at 17:23 ; directors dealings on AIM are subject to rule 17 and not rule 13 (related parties) so the 5% threshold is not relevant. Rule 17 states ... An AIM company must issue notification without delay of ... any deals by directors ...

8am - usually!

Indirect voting rights do not imply a purchase of shares.

A possible scenario is, lets say, a significant shareholder holding more than 3%, wants to invest in some other company, but all their money is tied up in HVO. They could raise finance from a financier by pledging say half their shareholding as collateral. If this happened, the financier would now under DTR 5.2.1 notify the market they held indirect voting rights over the shares held as collateral.

Under scenarios for indirect shareholdings exist, and are all equally plausible given the published information.

On the RNS in Panel 8A, it notes that the Voting rights in the shares are Indirect voting rights as defined by DTR5.2.1

https://www.rte.ie/news/business/2022/0914/1323449-man-arrested-in-insider-trading-probe-released/

Update from Irish national broadcaster use rte dot ie if URL domain is missing ....

Gardaí have released without charge a man who was arrested yesterday as part of a probe into alleged insider dealing.

A file is to be prepared for the Director of Public Prosecutions.

Detectives from the Garda National Economic Crime Bureau (GNECB) arrested the man as part of an investigation into insider trading contrary to the European Union (Market Abuse) Regulations 2016.

The inquiry started after a report was given to the GNECB by the Central Bank.

The man was questioned at a south Dublin garda station.

The GNECB said yesterday that the extensive investigation had progressed with the assistance of personnel attached to the Central Bank.

"Their expertise and experience had been invaluable," the statement said.

Clearly my attempt to poke fun at both the rose tinted optimists (the 105% increase) and the equally ridiculous doom mongers (0.1p) even with the addition of the exclamation mark failed to hit its target. I'll stick to the day job and stay out of comedy.

Also the notes on Page 6 explaining the resolutions state ...

The Directors currently have no intention of using their authority to make market purchases. Should this change and the Directors decide to make market purchases, they will only do so if such market purchases are expected to result in an increase in the Company’s earnings per share and are in the best interests of the Company’s shareholders. The Directors must ensure that any market purchases made are made between a minimum price of 0.1 pence per ordinary share and a maximum price equal to 105% of the average of the middle market quotations for the ordinary shares of the Company derived from the London Stock Exchange plc for the five business days immediately preceding the date on which the ordinary share is purchased.

... which you can interpret either positively that the BOD expect the share prices to rise by 105% in five day periods; or negatively that the BOD expect the share price to drop to 0.1p!

I think extrader is right and this is merely a boiler plate resolution and not any indication of intent.

Agree with shandypants2; struggle to see how the comments re the business is cash generative and claimed gross margins align with the actual reported cash balances.

Also bothered by the restatement of 2020 which combined with the proforma display of results for 2019 makes it tedious to work out if real progress is being made or numbers are simply being moved around the statements to paint a picture.

Perhaps someone with a better grasp of accounting can review and give us an opinion on the overall trend shown by the 2019, 2020, 2020 restated and 2021 numbers.

TR1 notifications are not so much a record of shareholdings but instead are a record of voting rights; generally voting rights have a 1 to 1 correspondence with shareholdings but this is not always the case. Assuming that the figures on both TR1s are correct and it is not a clerical cut and paste error, one possible explanation of the TR1s is that the notifier held shares in ORPH (and thus received in specie shares in POLB) and participated in the POLB IPO. The combination of specie and IPO shares push them above the 5% threshold. While the in specie shares were held by Croft, voting rights to the shares could not be exercised and thus the notifiable 5% was not reached, on receipt of shares from Croft at end of lock up, voting rights become exercisable and the 5% notification threshold is passed.

This may not be the reason for the TR1s but is a possibility.