Equals Group (EQLS)

Sector:

Financials

Index:

FTSE AIM All-Share

104.00p
   
  • Change Today:
    -0.50p
  • 52 Week High: 131.50
  • 52 Week Low: 93.00
  • Currency: UK Pounds
  • Shares Issued: 187.63m
  • Volume: 682,795
  • Market Cap: £195.13m
  • RiskGrade: 292

Equals Group extends deadline as it courts two takeover offers

By Josh White

Date: Wednesday 17 Apr 2024

LONDON (ShareCast) - (Sharecast News) - Financial services provider Equals Group updated the market on its strategic review process on Wednesday, including an extension of the 'put up or shut up' (PUSU) deadline.
The AIM-traded company launched the review on 1 November, to explore potential avenues for enhancing shareholder value.

It said the review involved engaging with Madison Dearborn Partners (MDP) and other potential counterparties to assess proposals that could potentially outperform the company's standalone strategy.

On 20 March, Equals received an indicative non-binding proposal from a consortium comprising Embedded Finance (Railsr) and TowerBrook Capital UK regarding a possible offer for its entire share capital.

Acknowledging the time elapsed since the start of the strategic review and the receipt of proposals from both MDP and the consortium, the board said on Wednesday that it was in the best interests of shareholders to allow further time for the review to reach its conclusion.

Regarding the PUSU deadline, which determines when potential offerors must either declare a firm intention to make an offer or state their intention not to, Equals had previously extended the deadline to 1700 BST on 17 April.

That deadline applied to both MDP and the Consortium.

However, the board said on Wednesday that it had requested a further extension of the PUSU deadline to facilitate ongoing discussions and due diligence with MDP and the consortium.

As a result, the Takeover Panel granted an extension, setting the revised PUSU deadline for both parties at 1700 BST on 15 May.

That deadline could be further extended with the consent of the Takeover Panel.

Equals said there was no certainty regarding whether an offer would be made, or the terms of any potential offer.

At 0832 BST, shares in Equals Group were up 0.97% at 125.2p.

Reporting by Josh White for Sharecast.com.

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.

 

Equals Group Market Data

Currency UK Pounds
Share Price 104.00p
Change Today -0.50p
% Change -0.48 %
52 Week High 131.50
52 Week Low 93.00
Volume 682,795
Shares Issued 187.63m
Market Cap £195.13m
RiskGrade 292

Equals Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
75.12% below the market average75.12% below the market average75.12% below the market average75.12% below the market average75.12% below the market average
77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average
Price Trend
16.79% above the market average16.79% above the market average16.79% above the market average16.79% above the market average16.79% above the market average
6.90% above the sector average6.90% above the sector average6.90% above the sector average6.90% above the sector average6.90% above the sector average
Income
15.44% above the market average15.44% above the market average15.44% above the market average15.44% above the market average15.44% above the market average
15.15% below the sector average15.15% below the sector average15.15% below the sector average15.15% below the sector average15.15% below the sector average
Growth
99.00% above the market average99.00% above the market average99.00% above the market average99.00% above the market average99.00% 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

What The Brokers Say

Strong Buy 0
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 1
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Equals Group Dividends

  Latest Previous
  Final Interim
Ex-Div 06-Jun-24 16-Nov-23
Paid 28-Jun-24 07-Dec-23
Amount 1.00p 0.50p

Trades for 18-Jun-2024

Time Volume / Share Price
16:35 175,000 @ 104.00p
16:05 83,444 @ 103.75p
16:30 89,000 @ 103.77p
16:35 10,441 @ 104.00p
16:35 444 @ 104.00p

Equals Group Key Personnel

CEO Ian Alexander Irving Strafford Taylor

Top of Page