Edison Investment Research

Euromoney Institutional Investor (ERM); sells Mining Indaba for £30.1mn

Stock flat at 1,340p at 08:04

ERM announced a binding agreement to sell the assets of its Mining Indaba business to ITE Group PLC (ITE) for £30.1mn.

Revolution Bars Group (RBG): first half 1.9% like-for-like growth gave way to 3.2% decline in H2

Adjusted operated profits of £8.5m, down £1.1m from last year

Following management change and takeover speculation, Revolution Bars’ new management has had an unpalatable cocktail of issues to work through: the uncertainty following corporate activity, management change, extremes of weather and the FIFA World Cup.

Treatt(TET); trading update: expects revenue on like-for-like basis to be up 9% YoY

Stock down 6.11% to 452.54p at 8:26

TET has announced that its expects profit before tax and exceptional items for the year ended 30 September 2018 to be in line with its earlier expectations despite facing foreign exchange headwinds. Group expects revenue on a like-for-like basis (excluding Earthoil) to be up by approximately 9% YoY.

Ebiquity (EBQ); appoints Kevin McNair as interim CFO

Stock flat at 50.50p at 8:05

EBQ announced the appointment of Kevin McNair as Interim Chief Financial Officer (CFO) effective from today. He replaces Andrew Noble, who has been the CFO for the past two years.

OnTheMarket (OTMP); listing agreements with over 11,000 agent branches

Stock up 1.04% to 145.0p at 8:05

OTMP signed listing agreements with UK estate and letting agents with over 11,000 offices, as of 1 October. The traffic to the property portal reached a historic high of 17.4m visits during September 2018.

Raven Property Group (RAV); secondary listing in Moscow Stock Exchange

Stock flat at 39.9p at 8:00

RAV has received approval for secondary listing of its ordinary shares.

Palace Capital (PCA); signs 20-year lease with Aldi for Gosport property at 17.4% higher rental

Stock up 3.28% to 313.98p at 8:12

PCA will now receive an annual rent of £291,000 vs £247,800 earlier.

Caledonia Mining Corp (CMCL); declares quarterly dividend of 6.875 US cents per share

The record date will be 12 October 2018 and the dividend payment date will be 26 October 2018.

Fresenius (SE): wins ruling to pull out of $4.3bn Akorn deal

Akorn stock down 47% after court rules Fresinus “properly exercised” its rights

A ruling came down today that Fresinus, a German based medical company, had proper grounds for cancelling a $4.3bn buyout of liquid generic drug maker Akorn Inc. Fresnius originally backed out of the deal after it claimed to find breaches of FDA data integrity requirements in Akorn’s operations.

Banca Sistema (BST): announces binding aggrement to purchase Atlantide S.p.A

The carrying value CQS/CQP loans on Banca Sistema’s balance sheet as of 30 June 2018 was €571m.

Banca Sistema signed a binding agreement for the purchase of 100% of Atlantide S.p.A., a registered financial intermediary providing salary/pension-backed loans (CQS/CQP) across Italy since 2010. The agreement is consistent with Banca Sistema’s growth targets and its 2018-2020 Strategic Plan for CQS/CQP, a market it is already operating in through agreements to purchase loan portfolios with other intermediaries.