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ConvaTec Group PLC (CTEC.L)

CTEC.L on London Stock Exchange

190.50GBp
13 Dec 2019
Change (% chg)

3.10 (+1.65%)
Prev Close
187.40
Open
191.25
Day's High
193.70
Day's Low
189.85
Volume
1,314,766
Avg. Vol
3,135,882
52-wk High
211.60
52-wk Low
113.25

Latest Key Developments (Source: Significant Developments)

Convatec Says Board Was "Disappointed" With Overall Outcome Of 61.55% Votes In Favour Of 2018 Directors' Remuneration Report
Thursday, 7 Nov 2019 

Nov 7 (Reuters) - ConvaTec Group PLC ::BOARD WAS "DISAPPOINTED" WITH OVERALL OUTCOME OF 61.55% VOTES IN FAVOUR OF 2018 DIRECTORS' REMUNERATION REPORT.ENGAGED IN DIALOGUE WITH NUMBER OF SHAREHOLDERS & VOTING ADVISORY AGENCIES TO DISCUSS QUESTIONS AND CONCERNS IN ADVANCE OF VOTE AT AGM.REMUNERATION COMMITTEE CONTINUES TO EVALUATE MOST APPROPRIATE STRUCTURE FOR EXECUTIVE DIRECTOR REMUNERATION.COMMITTEE WILL BE CONSULTING FURTHER WITH SHAREHOLDERS AND VOTING ADVISORY AGENCIES ON POLICY FOR FEEDBACK ON PROPOSALS.  Full Article

Convatec Affirms FY 2019 Outlook
Wednesday, 30 Oct 2019 

Oct 30 (Reuters) - ConvaTec Group PLC ::Q3 TRADING UPDATE.QTRLY GROUP REVENUE FOR WAS $462.9 MILLION, 2.4% HIGHER ON A REPORTED BASIS AND 4.6% HIGHER ON AN ORGANIC BASIS.TRADING IN Q3 WAS IN-LINE WITH MANAGEMENT EXPECTATIONS AND FULL YEAR GUIDANCE REMAINS UNCHANGED..OUTLOOK FOR GROUP FOR FY 2019 IS UNCHANGED.ON 24 OCT, COMPLETED A REFINANCING OF DEBT PUT IN PLACE AT TIME OF IPO IN OCTOBER 2016.DEBT PUT IN PLACE AT TIME OF IPO HAS BEEN REPLACED WITH COMMITTED 5-YEAR BANK FACILITY OF $1.5 BILLION TERM DEBT & $200 MILLION CREDIT FACILITY.TRANSFORMATION INITIATIVE REMAINS ON TRACK.  Full Article

Convatec Appoints John McAdam As Chairman
Monday, 19 Aug 2019 

Aug 19 (Reuters) - ConvaTec Group PLC ::JOHN MCADAM APPOINTED CHAIRMAN OF CONVATEC.JOHN MCADAM HAS BEEN APPOINTED CHAIRMAN OF BOARD OF CONVATEC WITH EFFECT FROM 30 SEPTEMBER.RICK ANDERSON TO STEP DOWN FROM HIS CURRENT INTERIM ROLE AS EXECUTIVE CHAIRMAN TO RESUME HIS ROLE AS A NON EXECUTIVE DIRECTOR OF CONVATEC.  Full Article

ConvaTec Group Maintains Its FY Guidance
Thursday, 1 Aug 2019 

Aug 1 (Reuters) - ConvaTec Group PLC ::CONVATEC GROUP PLC - CONVATEC GROUP PLC FIRST HALF RESULTS 2019.CONVATEC GROUP PLC - GROUP REPORTED REVENUE OF $888.9 MILLION IN FIRST HALF WAS 3.5% LOWER YEAR ON YEAR AND FLAT ON AN ORGANIC BASIS.CONVATEC GROUP PLC - Q2 SAW AN IMPROVING REVENUE TREND.CONVATEC GROUP PLC - TRANSFORMATION INITIATIVE ON TRACK.CONVATEC GROUP PLC - REPORTED OPERATING PROFIT / EBIT OF $93.6 MILLION, 23.3% LOWER YEAR ON YEAR.CONVATEC GROUP PLC - ADJUSTED OPERATING PROFIT / EBIT OF $165.2 MILLION, 18.8% LOWER YEAR ON YEAR.CONVATEC GROUP PLC - INTERIM DIVIDEND 1.717 CENTS MAINTAINED.CONVATEC GROUP PLC - GUIDANCE FOR FULL YEAR MAINTAINED.CONVATEC GROUP PLC - THROUGHOUT SECOND HALF OF YEAR, OUR PRIORITY REMAINS IMPROVING EXECUTION.CONVATEC GROUP PLC - EXPECT TO SEE FURTHER REVENUE GROWTH FOR GROUP IN SECOND HALF.  Full Article

Scapa Tapes Files Complaint Against ConvaTec, Claiming Damages Over $83.8 Mln
Thursday, 11 Jul 2019 

July 11 (Reuters) - Scapa Group Plc ::ON 10 JULY, SCAPA TAPES NORTH AMERICA, A US SUBSIDIARY OF SCAPA GROUP, FILED A COMPLAINT AGAINST CONVATEC INC.COMPLAINT FOR BREACH OF CONTRACT WITH REGARD TO A MASTER SUPPLY AGREEMENT BETWEEN CONVATEC, SCAPA TAPES.SCAPA TAPES IS CLAIMING DAMAGES IN EXCESS OF $83.81M AND A DECLARATORY JUDGEMENT .CO, SCAPA TAPES FILED A MOTION TO DISMISS COMPLAINT FILED BY CONVATEC WITH REGARD TO MSA BETWEEN CONVATEC AND SCAPA TAPES.  Full Article

Scapa Group Says CEO Heejae Chae Retracts His Intention To Step Down
Monday, 10 Jun 2019 

June 10 (Reuters) - Scapa Group PLC ::SCAPA GROUP PLC - HEEJAE CHAE HAS AGREED TO RETRACT HIS INTENTION TO STEP DOWN AND WILL REMAIN AS GROUP CHIEF EXECUTIVE OF COMPANY.SCAPA GROUP PLC - CONTINUES TO PREPARE ITS RESPONSE AND PURSUE ALL APPROPRIATE RIGHTS AND REMEDIES AGAINST CONVATEC INC..SCAPA GROUP PLC - TAKEN STEPS TO REDUCE ESTIMATED IMPACT ON REVENUES AND TRADING PROFIT IN FY20.SCAPA GROUP - REFUTE THAT CONVATEC HAS ANY LEGITIMATE GROUNDS TO TERMINATE MASTER SUPPLY AGREEMENT WITH SCAPA TAPES NORTH AMERICA LLC.SCAPA GROUP PLC - ESTIMATED EXPOSURE TO REVENUE AND TRADING PROFIT IN FY20 COULD BE C£28.0M AND C.£13.0M, RESPECTIVELY..SCAPA GROUP PLC - WILL CONTINUE TO ASSESS FURTHER REVENUE OPPORTUNITIES AS WELL AS REVIEWING ITS ONGOING COST BASE..  Full Article

Convatec Q1 Rev Dips, Affirms FY Forecast
Friday, 3 May 2019 

May 3 (Reuters) - ConvaTec Group PLC ::CONVATEC Q1 TRADING UPDATE.FY2019 GUIDANCE UNCHANGED.TRADING IN Q1 WAS IN-LINE WITH EXPECTATIONS, WHICH REFLECT CHALLENGES WE OUTLINED AT OUR FULL YEAR RESULTS IN FEBRUARY.REVISED ACCOUNTING METHODOLOGY TO ESTIMATE EXPECTED DISCOUNT CLAIMS BY DISTRIBUTORS IN US.GROUP REVENUE OF $430.6 MILLION INCLUDED AN ADDITIONAL ONE-OFF PROVISION IN QUARTER OF $8.9 MILLION.ACCOUNTING METHODOLOGY THIS RESULTED IN ADDITIONAL ONE-OFF PROVISION OF $8.9 MILLION , WHICH REDUCED Q1 GROUP REVENUE GROWTH BY 190 BPS.IN UK DESPITE STOCKING INITIATED BY NHS IN PREPARATION FOR BREXIT, CONTINUED TO SEE NEGATIVE YEAR ON YEAR CHANNEL INVENTORY MOVEMENTS IN Q1.IN INFUSION DEVICES HIGHER THAN ANTICIPATED CUSTOMER ORDERS IN QUARTER RESULTED IN GOOD PERFORMANCE VERSUS STRONG PRIOR YEAR COMPARATOR.CONTINUE TO SEE CHALLENGING MARKET DYNAMICS IN UK.HAVE MADE GOOD PROGRESS WITH OUR TRANSFORMATION INITIATIVE, ANNOUNCED IN FEBRUARY.  Full Article

Convatec Group Appoints Genus Plc's Karim Bitar As CEO
Monday, 25 Mar 2019 

March 25 (Reuters) - ConvaTec Group PLC ::CONVATEC GROUP PLC - APPOINTS KARIM BITAR AS CHIEF EXECUTIVE OFFICER.  Full Article

Genus Plc Says CEO Stepping Down, To Take Top Job At Convatec
Monday, 25 Mar 2019 

March 25 (Reuters) - Genus PLC ::GENUS - GENUS CHIEF EXECUTIVE TRANSITION.GENUS PLC - KARIM BITAR, CHIEF EXECUTIVE OFFICER, WILL BE STEPPING DOWN FROM BOARD FROM 16 SEPTEMBER 2019.GENUS PLC - COMMENCED A SEARCH TO IDENTIFY BITAR'S SUCCESSOR.GENUS PLC - BITAR WILL BE TAKING CHIEF EXECUTIVE OFFICER POSITION AT CONVATEC GROUP PLC FROM 30 SEPTEMBER 2019.  Full Article

Convatec Will Appoint New CEO, Announce Exit Of Chris Gent As Chairman - Sky News
Monday, 25 Mar 2019 

March 24 (Reuters) - :CONVATEC WILL APPOINT A NEW CEO AND ANNOUNCE EXIT OF CITY VETERAN CHRIS GENT AS CHAIRMAN - SKY NEWS.CONVATEC WILL SAY THAT KARIM BITAR, CURRENTLY CHIEF EXECUTIVE OF GENUS‎, WILL JOIN IT IN AS CEO - SKY NEWS.  Full Article