TRADING UPDATES: Minoan in debt talks; Sealand perplexed by share rise
6th Jan 2025 21:34
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Thursday and not separately reported by Alliance News: Read More
(Alliance News) - Oryx International Growth Fund Ltd on Wednesday noted two of its portfolio companies have received takeover offers. Read More
<p>(Alliance News) - Eckoh PLC on Wednesday said it agreed to a takeover from certain funds managed by Bridgepoint Advisers II. <br /><br />Eckoh, a London-based provider of secure payment and customer contact products, said the bid valued it at GBP169.3 million on a fully diluted basis and implies an enterprise value of approximately GBP161.8 million.<br /><br />The buyer will fork out 54p per share in cash, an 11% premium to Eckoh's 48.5p per share closing price on August 21, before the start of its offer period.<br /><br />Eckoh shares jumped 25% to 52.65 pence each on Wednesday morning in London, giving it a market capitalisation of GBP151.1 million.<br /><br />Eckoh expects the takeover to complete in the first quarter of 2025, with shares in the company to be delisted as it plans to re-register as a private company.<br /><br />"This offer represents a strong premium and allows Eckoh shareholders to realise attractive value," said Alan Payne, partner & deputy head of Bridgepoint Development Capital. "Eckoh is an international leader in a niche software sector and at the cutting edge of customer engagement technology, and we are real admirers of the platform. <br /><br />"There is a growing need for businesses to establish secure customer payment solutions as new contact channels, payment methods and compliance regulations emerge and customer requirements evolve."<br /><br />Eckoh said: "Bridgepoint believes that with the right additional investment, Eckoh will be well-placed to succeed. <br /><br />"Bridgepoint will help unlock Eckoh's potential through geographic expansion, product innovation and expansion and targeted acquisitions - enabling Eckoh to grow its customer base and drive long-term profitable growth."<br /><br />Oryx International Growth Fund Ltd, which invests in medium and small quoted and unquoted companies in the UK and US, and is managed by Harwood Capital Management, noted the release. Oryx expects an increase in its net asset value of the September valuation to rise by about 10 pence per share and increase its cash balance by GBP8.1 million, should the offer complete. <br /><br />Oryx shares were down 1.9% at 1,191.50p each on Wednesday morning in London.<br /><br />By Tom Budszus, Alliance News slot editor<br /><br />Comments and questions to [email protected]<br /><br />Copyright 2024 Alliance News Ltd. All Rights Reserved.</p> Read More
(Alliance News) - Stock prices in London opened mixed on Wednesday, ahead of the UK budget announcement later, while GSK hurt the FTSE 100 after a quarter of tepid vaccine sales. Read More
Eckoh PLC - London-based provider of secure payment and customer contact products - Confirms it has successfully settled a legal process related to a historic patent dispute. Eckoh will be paid a total of GBP2.3 million under a settlement agreement, which represents the "substantial majority" of costs incurred over the past two and a half years. The result comes after "a protracted legal and subsequent arbitration process" with an unnamed competitor, and provides legal certainty that the competitor cannot bring about any further litigation against Eckoh relating to the unspecified contested patent family. Read More
(Alliance News) - Stock prices in London opened mixed on Thursday morning, as investors look ahead to three days of looking for clues on the trajectory of US interest rates. Read More
(Alliance News) - Eckoh PLC on Thursday said it has received tentative takeover offer from an unnamed private equity investor, as part of the sale process that it launched back in March. Read More
(Alliance News) - Stocks in London are called to open lower on Thursday, after New York rebounded on hopes of a September interest rate cut. Read More
(Alliance News) - Eckoh PLC on Tuesday said it was confident of progress in the year ahead as it proposed a higher dividend despite a profit decline. Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: Read More
(Alliance News) - Eckoh PLC announced on Wednesday that it has expanded its global Secure Voice Cloud platform footprint, enhancing its availability and geographic reach for its customers. Read More
Eckoh PLC - Abingdon, England-based supplier of technology and services to the education sector - Inks partnership with RingCentral Inc, a "leading provider of AI-first global enterprise cloud communications, video, webinars, hybrid events, and contact centre solutions." Eckoh will provide RingCentral's contact centre security requirements in the US. Read More
(Alliance News) - Eckoh PLC on Tuesday said it has inked a record amount in contracted business in the year-to-date. Read More
(Alliance News) - Eckoh PLC on Tuesday said profit was down in the first half, tracking falling revenue and rising expenses, although it maintained it was still on track to meet expectations for the full-year Read More