Shaftesbury and CapCo Proposed Merger Makes Logical Sense

0653 GMT - Shaftesbury's possible proposed merger with Capital & Counties Properties is a logical transaction that has been a long-time coming, Goodbody Research says. U.K. real-estate investor Shaftesbury has been particularly likely to merge ever since CapCo bought Samuel Tak Lee's strategic stake in Shaftesbury at 540 pence a share in May 2020, Goodbody real estate analyst Colm Lauder says in a research note. "The merger would create a prime West End retail and leisure portfolio of considerable scale and influence, controlling some of the most significant, and highly trafficked retail and leisure pitches in central London," the Irish research firm says. As of Friday, Shaftesbury's shares trade at a 6% discount to its last published EPRA net tangible asset value, at 577.0 pence. (joseph.hoppe@wsj.com) 


 
Companies News:

Shaftesbury, Capital & Counties in All-Share Merger Talks

Shaftesbury PLC and Capital & Counties Properties PLC said Saturday that they are in talks over a possible all-share merger, but that full terms haven't been finalized and there is no certainty any deal will be struck.

---

Ideagen Agrees to GBP1.06 Bln Takeover by Hg Pooled Management

Ideagen PLC said Monday that it has agreed to a 1.06 billion pound ($1.31 billion) takeover from private equity company Hg Pooled Management Ltd.

---

Rightmove CEO Peter Brooks-Johnson to Step Down in February 2023

Rightmove PLC said Monday that Chief Executive Officer Peter Brooks-Johnson has decided to step down from the board and leave the company, effective from February 2023.

---

4basebio Loss Widened in 2021 on Higher Costs

4basebio PLC on Monday reported a widened loss for 2021 and said that it will continue to be lossmaking in 2022.

---

Made.com Buys Trouva, Increases FY Total Expected Costs

Made.com Group PLC said Monday that it has acquired Trouva, an online platform for independent stores, and that the company is increasing its total expected costs for the year.

---

Cerillion 1H Revenue, Pretax Profit Rose Thanks to Strong Demand

Cerillion PLC said Monday that revenue and pretax profit increased for the first half of its fiscal 2022 amid strength in demand for its services.

---

Pure Gold Mining to Raise Around $23.3 Mln in Private Placing

Pure Gold Mining Inc. said Monday that it will raise gross proceeds of 30 million Canadian dollars ($23.3 million) from a non-brokered private placing, which will be used to complete near-term business plans and for general corporate purposes.

---

Water Intelligence 1Q Pretax Profit Fell on Exceptional Costs, Sales Rose

Water Intelligence PLC said Monday that pretax profit fell in the first quarter, reflecting exceptional costs, but sales rose.

---

NCC Group Expects to Post Higher 2H Revenue; Mike Maddison Appointed as New CEO

NCC Group PLC said Monday that the board expects to report a significant rise in revenue for the second half of the year compared to the year-earlier period and the first half of 2022.

---

Chill Brands to Raise Around GBP484,000 in Open Offer

Chill Brands Group PLC said Monday that it plans to raise around 484,000 pounds ($597,256) to ensure the company is well capitalized for further growth.

---

K3 Capital Isn't Aware of Any Reason for Share Price Decline; Makes Strong Start to 2H

K3 Capital Group PLC said Monday that it isn't aware of any reason for the recent decline in its share price and that it has made a strong start to the second half of the year.

---

i3 Energy Raises 2022 Income, Capex Guidance

i3 Energy PLC on Monday raised operating income guidance for 2022, which will be used to expand the drilling exploration program and increase the dividend.

---

Mincon Group Says 1Q Performance Was Strong, Marked by Growth Across All Sectors

Mincon Group PLC said Monday that its performance in the first quarter was strong as revenue momentum from the last half of the prior year continued, and that it experienced significant growth across all sectors.


Contact: London NewsPlus, Dow Jones Newswires; Dow Jones Newswires; paul.larkins@wsj.com

(END) Dow Jones Newswires

05-09-22 0322ET