Cavendish Financial (CAV)

Sector:

Financials

Index:

FTSE AIM All-Share

9.75p
   
  • Change Today:
    -0.35p
  • 52 Week High: 14.30
  • 52 Week Low: 6.05
  • Currency: UK Pounds
  • Shares Issued: 385.69m
  • Volume: 473,052
  • Market Cap: £37.60m

Cenkos and finnCap to merge in all-share deal

By Michele Maatouk

Date: Thursday 23 Mar 2023

LONDON (ShareCast) - (Sharecast News) - Investment banks Cenkos Securities and finnCap have agreed to merge in an all-share deal.
At the market close on Wednesday, both companies had a market value of around £21.1m.

They said in a statement on Thursday that there are "potentially significant cost synergies from common systems, processes, regulatory overlap and infrastructure, as well as clear future revenue potential through broader client reach and collaboration across equity and private capital market disciplines for the combined group".

Under the terms of the merger, Cenkos shareholders will receive 3.19420647 new finnCap shares for each of their shares.

The combined group has more than 210 retained listed or quoted clients and employs more than 230 colleagues. It has more than £50m in proforma combined revenues and in excess of £20m on its balance sheet.

Cenkos chair Lisa Gordon said: "This proactive and mutually-beneficial merger creates a champion for growth and investment companies, both UK-quoted and private entrepreneurial businesses, that are the backbone of our economy.

"The two firms' cultures are very similar, and our client lists and capabilities are complementary. This is good for our clients, our employees, our investors and the UK capital markets as a whole."

The combined company will be led by the existing chief executives of Cenkos and finnCap. Lisa Gordon will become chair of the board, which will comprise equal numbers of finnCap and Cenkos directors.

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

 

CAV Market Data

Currency UK Pounds
Share Price 9.75p
Change Today -0.35p
% Change -3.47 %
52 Week High 14.30
52 Week Low 6.05
Volume 473,052
Shares Issued 385.69m
Market Cap £37.60m

CAV Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
51.36% above the market average51.36% above the market average51.36% above the market average51.36% above the market average51.36% above the market average
23.64% above the sector average23.64% above the sector average23.64% above the sector average23.64% above the sector average23.64% above the sector average
Price Trend
7.53% above the market average7.53% above the market average7.53% above the market average7.53% above the market average7.53% above the market average
1.75% above the sector average1.75% above the sector average1.75% above the sector average1.75% above the sector average1.75% above the sector average
Income
18.79% above the market average18.79% above the market average18.79% above the market average18.79% above the market average18.79% above the market average
18.18% below the sector average18.18% below the sector average18.18% below the sector average18.18% below the sector average18.18% below the sector average
Growth
74.13% below the market average74.13% below the market average74.13% below the market average74.13% below the market average74.13% below the market average
55.77% below the sector average55.77% below the sector average55.77% below the sector average55.77% below the sector average55.77% below the sector average

CAV Dividends

  Latest Previous
  Final Final
Ex-Div 19-Sep-24 22-Sep-22
Paid 15-Oct-24 07-Oct-22
Amount 0.25p 1.15p

Trades for 10-Oct-2024

Time Volume / Share Price
15:23 152,955 @ 9.78p
14:16 5,656 @ 9.51p
13:22 15,000 @ 9.53p
13:20 4,615 @ 9.53p
12:14 32,597 @ 9.51p

CAV Key Personnel

Chair Lisa Gordon
CFO Ben Procter

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