HomeServe (HSV) shares tick up 10.54% to 1,163p as Brookfield makes £4.1bn cash bid
HomeServe, the British multinational home emergency repairs and improvements business, has agreed today to be taken over by Canadian investment giant Brookfield for nearly £4.1bn.
Last month, it told investors that it was in talks with Brookfield Infrastructure after receiving a number of proposals, after the Toronto-based firm first made its interest public on 24 March. Today, the company confirmed that the board has agreed to a 1,200p-per-share cash deal.
The price of the acquisition represents a 71% premium to the closing price per share on 23 March and a 52% premium to the six-month average, and below share prices seen in 2020.
Knights Group Holdings (KGH) shares rise 43.71% to 135p as it publishes 2022 guidance
In a trading update released today for the full year ended 30 April 2022, Knights Group said it anticipates revenue for the full year of around £125.5m, up by 22% compared to £103.2m in the prior year, while underlying PBT is anticipated to be a minimum of £18.1, up from £18.4m.
Net debt is expected to be £29m, £2m ahead of analyst expectations. Knights said its strong position in its markets,increased scale, national reputation, differentiated model and unique culture is enabling it to attract high quality talent, increasingly so from Top 40 law firms.
In a separate statement, Knights said it has agreed to acquire Coffin Mew, an independent law firm, providing entry into new key markets, including Portsmouth, Southampton, Brighton and Newbury, and significantly expanding the Group’s presence in the South of England.
Great Western Mining (GWMO) shares jump 18.85% to 0.145p as it starts drilling campaign
Great Western Mining, which explores and develops gold, silver and copper targets in Nevada, announced to investors today that it has initiated its 2022 drilling campaign.
To kick-start the drilling campaign, the company has contracted a reverse circulation (RC) rig for a drill programme of approximately 11,000 ft (3,350 m). Three initial holes are planned at the Southern Alteration Zone (SAZ) to follow up on the encouraging results from last year.
In 2021, the best intercepts were recorded as (1) 1.52 metres at 8.02 g/t gold from 97.53 metres downhole in hole RHRC006 and (2) 1.52 metres at 2.29 g/t gold from 28.95 metres downhole in hole RHRC007. Drilling is targeting the continuation of veins already identified.
Amur Minerals (AMC) shares tick up 12.90% to 0.97p following sale of Russian nickel project
Earlier this month, the nickel-copper sulphide mineral exploration and resource development firm which is focused on the far east of Russia, together with its wholly owned subsidiary Irosta Trading, sold its interest in Irosta’s Russian subsidiary, AO Kun-Manie for US$105m.
For a total consideration of US$105m, Stanmix Holding Limited purchased AO KM and the benefit of all amounts owed by AO KM to Amur under intra-group loans, it told investors.
The AO KM subsidiary holds the exploration and mine production mineral licence for the Kun-Manie nickel-copper sulphide project located in Amur Oblast of the Russian Federation.