Braemar (BMS)

Sector:

Commercial Transport

252.50p
   
  • Change Today:
      0.50p
  • 52 Week High: 312.50
  • 52 Week Low: 240.00
  • Currency: UK Pounds
  • Shares Issued: 32.92m
  • Volume: 4,403
  • Market Cap: £83.14m
  • RiskGrade: 201
  • Beta: 0.29

Braemar Shipping Services buys up Atlantic Brokers

By Josh White

Date: Friday 02 Feb 2018

LONDON (ShareCast) - (ShareCast News) - Braemar Shipping Services announced the acquisition of an established broker of physical and financial coal products, Atlantic Brokers for a total consideration of £4.8m on Friday.
The London-listed firm described Atlantic as an established introducing broker for ICE coal and CME Clearport coal futures and options, regulated by the Financial Conduct Authority, and a member of the National Futures Association in the US.

It said the acquisition would provided the opportunity to expand the combined Braemar and Atlantic businesses into new markets, using Atlantic's experience and the physical shipping capability and market reach of Braemar.

Additionally, as Atlantic is regulated by the FCA, the acquisition would enable Braemar to move into the growth area of commodity derivatives broking.

The total consideration of £4.8m was made up of £2.7m in cash, and £2.1m to be satisfied by the issue of 804,426 ordinary shares, representing a price of £2.61055 per share.

Braemar said the cash element of the consideration would be financed from funds to be drawn down under the company's existing credit agreement, together with the company's own resources.

Atlantic generated revenue and profit before tax for the year to 30 June 2017 of £4.7m and £0.6m respectively.

"The acquisition of Atlantic marks another step in our stated strategy of growing a diverse maritime business," said Braemar chief executive James Kidwell.

"The board is continually looking for high quality acquisitions to support our business development strategy and I am delighted to welcome the Atlantic team to Braemar.

"We look forward to integrating the teams and growing our combined businesses."

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Braemar Market Data

Currency UK Pounds
Share Price 252.50p
Change Today 0.50p
% Change 0.20 %
52 Week High 312.50
52 Week Low 240.00
Volume 4,403
Shares Issued 32.92m
Market Cap £83.14m
Beta 0.29
RiskGrade 201

Braemar Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
77.15% above the market average77.15% above the market average77.15% above the market average77.15% above the market average77.15% above the market average
60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average
Price Trend
36.27% below the market average36.27% below the market average36.27% below the market average36.27% below the market average36.27% below the market average
45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average
Income
76.96% above the market average76.96% above the market average76.96% above the market average76.96% above the market average76.96% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
3.65% below the market average3.65% below the market average3.65% below the market average3.65% below the market average3.65% below the market average
27.27% below the sector average27.27% below the sector average27.27% below the sector average27.27% below the sector average27.27% below the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Braemar Dividends

  Latest Previous
  Interim Final
Ex-Div 21-Nov-24 01-Aug-24
Paid 13-Jan-25 09-Sep-24
Amount 4.50p 9.00p

Trades for 03-Dec-2024

Time Volume / Share Price
09:13 3,978 @ 251.72p
08:00 425 @ 256.30p

Top of Page