TT Electronics (TTG)

Sector:

Electronic and Electrical Equipment

Index:

FTSE Small Cap

79.00p
   
  • Change Today:
    -3.40p
  • 52 Week High: 179.00
  • 52 Week Low: 78.20
  • Currency: UK Pounds
  • Shares Issued: 177.74m
  • Volume: 708,303
  • Market Cap: £140.41m
  • RiskGrade: 186

Stadium Group surges on TT Electronics deal

By Michele Maatouk

Date: Thursday 15 Feb 2018

LONDON (ShareCast) - (ShareCast News) - Shares in Stadium Group surged on Thursday after it agreed to be bought by TT Electronics for 120p per share in cash, or around £45.8m.
The price represents a premium of around 44% to Stadium's closing price of 83.50p on Wednesday and the deal, which is expected to be immediately earnings-enhancing for TT, will be funded entirely from existing cash resources and committed bank facilities.

The Stadium directors advised by N+1 Singer, consider the terms of the transaction to be fair and reasonable and intend to unanimously recommend that shareholders vote in its favour.

This is the first acquisition by TT following the disposal of its transportation sensing and control division last year, and follows its stated strategy to focus on areas of structural growth where there is increased electronic content and greater product differentiation.

TT said the deal will give it a greater presence in attractive segments of the industrial, medical, aerospace and defence and transport sectors and will enhance its product capabilities in power electronics and connectivity, adding more scale to the respective businesses of both TT and Stadium.

It will also enable extended research and development capabilities, building on Stadium's R&D resources to leverage new product innovation and accelerating new product launches to market.

TT chief executive officer Richard Tyson said: "The acquisition of Stadium is an important step to accelerate our strategy of building leading positions in sectors where increasing electrification is fuelling demand for our highly engineered electronic solutions.

"We look forward to welcoming Stadium's employees and combining power electronics capabilities and R&D expertise to drive growth for the combined business. Stadium will add complementary technologies including connectivity offerings, in industries we already know well. We remain committed to deploying our resources to accelerate growth through capital investments and acquisitions to enhance TT's potential and create value for our shareholders."

At 1000 GMT, Stadium shares were up 43% to 119.02p and TT Electronics was up 2.4% to 215p.

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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.

 

TT Electronics Market Data

Currency UK Pounds
Share Price 79.00p
Change Today -3.40p
% Change -4.13 %
52 Week High 179.00
52 Week Low 78.20
Volume 708,303
Shares Issued 177.74m
Market Cap £140.41m
RiskGrade 186

TT Electronics Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
99.18% above the market average99.18% above the market average99.18% above the market average99.18% above the market average99.18% 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
Price Trend
79.75% below the market average79.75% below the market average79.75% below the market average79.75% below the market average79.75% below the market average
67.57% below the sector average67.57% below the sector average67.57% below the sector average67.57% below the sector average67.57% below the sector average
Income
98.93% above the market average98.93% above the market average98.93% above the market average98.93% above the market average98.93% 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
4.84% below the market average4.84% below the market average4.84% below the market average4.84% below the market average4.84% below the market average
3.03% above the sector average3.03% above the sector average3.03% above the sector average3.03% above the sector average3.03% above the sector average

What The Brokers Say

Strong Buy 4
Buy 3
Neutral 2
Sell 0
Strong Sell 0
Total 9
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

TT Electronics Dividends

  Latest Previous
  Interim Final
Ex-Div 12-Sep-24 11-Apr-24
Paid 15-Oct-24 15-May-24
Amount 2.25p 4.65p

Trades for 31-Oct-2024

Time Volume / Share Price
14:16 899 @ 79.95p
14:16 1,121 @ 79.95p
14:16 2,344 @ 79.95p
14:16 2,125 @ 79.95p
14:16 14,015 @ 79.95p

TT Electronics Key Personnel

CFO Mark Hoad
Chair Warren Tucker

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