A cheeky website about deals, dealmakers and anything else I find interesting. Edited by Ben Harrington. If you have a tip, want to discuss a story or have a subscription enquiry please feel free to email Betaville at [email protected]. Betaville can also be reached at Whats App, Signal or Telegram. Betaville's Twitter handle is @bharringtonw11 and you can message me via Twitter with stories.
Hitting the RNS this morning is some fresh news about how a company backed by Mahmud Kamani has signed a deal to distribute some Covid-19 tests being developed by Avacta...
So, Compass has effectively confirmed it IS carrying out a cash call. Below is the link to this morning's statement:
https://www.investegate.co.uk/compass-group-plc--cpg-/rns/launch-announcement/202005190700053184N/..
The financial commentariat really did get their knickers in a twist about last week's FT scoop about BT Group holding talks with infrastructure investors about a sale of a stake in Openreach.
But I have done a bit preliminary poking around and it would seem there is one very important question: why was the "denial" issued by Clive Selley, the boss of Openreach, through a memo to employees rather the company's chief executive via an RNS?..
Betaville's UNCOOKED ALERT about Christopher Mills building a stake in Aim-listed property lender Urban Exposure has been confirmed.
Below is a link to an regulatory news announcement from Oryx Internatinal Growth Fund declaring a 3.8pc shareholding in Urban Exposure...
Small cap enthusiasts will be watching to see how shares of Aim-listed Tiziana Life Sciences reacts this morning after its US ADR stock shot up 10pc on Friday evening on large volume.
Last week, Tiziana unveiled the details of a Royal Marseden trial for StemPrintER, its stem cell biology-based genomic tool for the prediction of disease recurrence in breast cancer patients, at the ASCO conference...
Last night's scoop from the FT about BT selling Opeanreach to Macquarie is getting a serious poo-pooing this morning from analysts, hacks and spinners.
Indeed, Jim "Armo" Armitage, City editor of the Evening Standard, pisses on the story from a high height. Below is a link to his column and a follow up "EXCLUSIVE" containing a "denial" in a leaked memo to Opeanreach staff:..
It would appear scribblers at Citigroup have a direct line into Betaville's brain.
On Wednesday evening I wrote in "Cash Calls - who is next? - Part 8" that Stagecoach was to be added to the Cash Calls list. Below is the link:
https://www.www.betaville.co.uk/news/cash-calls-who-is-next-part-8/..
The Pink 'Un has just published a rather good tale about BT Group starting talks about a sale of Openreach as part of a deal that would value the business at up to £22 billion...
There will be plenty of small cap punters watching Tiziana Life Sciences this morning after it released details of a new study on StemPrintER, its stem cell biology-based genomic tool for the prediction of disease recurrence in breast cancer patients, at the ASCO conference last night.
Below is a link to an interview with Tiziana's chief executive Gabriele Cerrone, who has been working on the test over the last seven years...
There are couple of new additions to the cash call list Betaville has been running over the last few weeks. They are: equipment rental company Ashtead and Stagecoach, the bus and rail operator. Below is the updated list:
1. International Consolidated Airlines Group
2. InterContinental Hotels Group
3. Compass
4. Mitchells & Butlers
5. Kingfisher
6. Marstons
7. Provident Financial
8. Travis Perkins..
An investor that specialises in activism and private equity is rumoured to have built up a secret shareholding in Aim-listed Urban Exposure, the controversial residential development finance company at the centre of a takeover tussle for its loan book.
Christopher Mills - who runs Harwood Capital Management Group and the North Atlantic Smaller Companies Investment Trust - is thought to have bought a substantial stake Urban Exposure, said people following the situation...
Intrepid hack Tom "Tommy" Teodorczuk has discovered Crispin Odey's flagship fund is down 9.5pc in April following the stockmarket rally over the month. Below is a link to Tom's piece in Financial News:
Syed Shah got a big fright the other day - a $9 million fright to be exact.
When US oil prices crashed last month Shah bought a bunch of futures contracts at what he thought was one cent a barrel, hoping to pick the bottom of the rout.
However, little did he know that at the time he was buying through his $77,000 account at one cents the real price of oil was actually minus $3.70 a barrel...
Hyve Group, the London-listed events and exhibitions company, has finally launched its heavily discounted £120 million rights issue, confirming Betaville's from scoop several weeks ago.
Below is the link to the Hyve Group statement:..
Just when you thought things couldn't get weirder at Wirecard: along comes Deka.
The German investor, which owns a 1.6pc, shareholding in the controversial payments company is calling for the removal of Markus Braun, chief executive. Below is a link to Deka's quotes:
https://www.nasdaq.com/articles/deka-demands-removal-of-wirecard-ceo-2020-05-06..
Another day, another equity placing in the London market. This time it's FTSE 250-listed National Express, which has just announced an accelerated bookbuild to raise up 20pc (around £240 million) of its market capitalisation.
Embattled Lloyd's of London insurer Hiscox also announced the results of its equity fundraising, tapping shareholders for £375 million...
Citigroup is today telling clients easyJet will have to launch a major cash call to raise between £700 million and a £1 billion.
Mark Manduca - airlines analyst at Citigroup, and son of City grandee and Prudential chairman Paul Manduca - reckons there is now a "high" probability the budget airline will have to carry out a rights issue in the coming weeks or months...
Vin Murria has just announced she and her family own a sizeable shareholding in M&C Saatchi, the advertising agency that has been beset by accountancy issues since last year.
According to this morning's statement, Indian-born Murria - who made millions when Advanced Computer Software Group was sold to Vista Equity Partners in 2015 - now has a 13.25pc shareholding in M&C Saatchi, which was founded by adworld celebrities Maurice and Charles Saatchi. Below is the link:..
City wags reckon Kingfisher is working with bankers at Credit Suisse on "liquidity options".
What that means exactly remains unclear but one can presume it would involve the owner of B&Q, Screwfix and Castorama raising cash in some shape or form...
Does anybody else think the juxtoposition of Sir Chris Hohn taking a short position in Wirecard and his very public call for the removal of the German company's chief executive a bit odd?
You could understand why the German company's surpervisory board might acquiesce to The Childrens' Investment Fund if the firm had pursued its usual method of buying a sizeable stake in the company...
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