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EI Group PLC (EIGE.L)

EIGE.L on London Stock Exchange

282.00GBp
20 Aug 2019
Change (% chg)

-1.40 (-0.49%)
Prev Close
283.40
Open
283.40
Day's High
283.40
Day's Low
281.00
Volume
714,878
Avg. Vol
1,461,224
52-wk High
289.00
52-wk Low
148.40

Latest Key Developments (Source: Significant Developments)

Ei CEO Says Multiple Takeover Approaches Earlier This Year By Stonegate Were Rejected
Thursday, 18 Jul 2019 

July 18 (Reuters) - EI Group PLC ::EI GROUP CEO SAYS MULTIPLE TAKEOVER APPROACHES EARLIER THIS YEAR BY STONEGATE WERE INITIALLY REJECTED.EI GROUP CEO SAYS STONEGATE'S INITIAL APPROACHES WERE REJECTED BECAUSE PRICE OFFERED WAS NOT SATISFACTORY.EI GROUP CEO SAYS THERE MIGHT BE SMALL REDUCTION IN HEADCOUNT AFTER TAKEOVER GOES THROUGH.EI GROUP CEO SAYS COMPANY WILL BE DELISTED ONCE TAKEOVER BY STONEGATE GOES THROUGH.EI GROUP CEO SAYS CO'S BOARD WILL STEP ASIDE AFTER TAKEOVER BY STONEGATE GOES THROUGH.  Full Article

Stonegate Pub To Buy EI Group For Enterprise Value Of 2.97 Bln Stg
Thursday, 18 Jul 2019 

July 18 (Reuters) - Stonegate Pub::RECOMMENDED CASH OFFER FOR EI GROUP PLC.UNDER TERMS OF ACQUISITION, EACH EIG SHAREHOLDER WILL BE ENTITLED TO RECEIVE: FOR EACH SCHEME SHARE: 285 PENCE IN CASH.SAYS ACQUISITION VALUES EIG'S ENTIRE ISSUED, AND TO BE ISSUED, ORDINARY SHARE CAPITAL AT ABOUT £1,272.7 MILLION.PROPOSED DEAL FOR ENTERPRISE VALUE OF £2,969.7 MILLION.CASH CONSIDERATION TO BE FINANCED BY EQUITY TO BE INVESTED BY STONEGATE & TDR FUNDS, COMMITTED FINANCING FROM ALBACORE FUNDS, OTHER BANKS.EIG DIRECTORS CONFIRM THEY INTEND TO RECOMMEND UNANIMOUSLY EIG SHAREHOLDERS VOTE IN FAVOUR OF RESOLUTIONS RELATING TO ACQUISITION.  Full Article

Ei Group Announces Share Buyback Programme
Friday, 15 Mar 2019 

March 15 (Reuters) - EI Group PLC ::ANNOUNCES A SHARE BUYBACK PROGRAMME OF UP TO GBP35 MILLION.BUYBACK PROGRAMME IS CURRENTLY EXPECTED TO END NO LATER THAN 30 SEPTEMBER 2019.  Full Article

EI Group Sees FY Interest Costs Of 136-138 Mln Stg
Friday, 15 Mar 2019 

March 15 (Reuters) - EI Group PLC ::COMPLETION OF SALE OF COMMERCIAL PROPERTY PORTFOLIO.EXPECTED AGGREGATE CONSIDERATION IN RESPECT OF SALE OF 370 COMMERCIAL PROPERTIES IS £348.0 MILLION, OF WHICH £336.6 MILLION HAS NOW BEEN RECEIVED.COMPLETION OF SALE OF REMAINING 22 COMMERCIAL PROPERTIES, PROCEEDS OF WHICH WILL AMOUNT TO £11.4 MILLION, SUBJECT TO SUPERIOR LANDLORD CONSENT.PROCEEDS WILL THEREFORE BE USED IN FULL PREPAYMENT OF CLASS A3 NOTES, PART PREPAYMENT OF CLASS A4 NOTES AND IN MEETING ASSOCIATED COSTS.PROCEEDS WILL BE USED IN MEETING ASSOCIATED COSTS OF APPROXIMATELY £14.0 MILLION ARISING ON EARLY PREPAYMENT OF CLASS A3 AND CLASS A4 NOTES.INTENDS TO USE £35 MILLION OF REMAINING NET PROCEEDS TO REPAY AND CANCEL OUTSTANDING BALANCE ON GROUP'S £50 MILLION TERM LOAN FACILITY AGREEMENT.INTENDS TO USE APPROXIMATELY £115 MILLION TO REPAY AMOUNTS DRAWN UNDER GROUP'S £150 MILLION REVOLVING CREDIT FACILITY AGREEMENT.APPROVED RETURN OF UP TO AN ADDITIONAL £35 MILLION TO SHAREHOLDERS VIA A FURTHER SHARE BUYBACK PROGRAMME.370 COMMERCIAL PROPERTIES COMPRISING PORTFOLIO CONTRIBUTED £26 MILLION TO GROUP EBITDA IN FINANCIAL YEAR TO 30 SEPTEMBER 2018.ESTIMATE THAT, PRIOR TO THEIR SALE, THESE 370 PROPERTIES WILL HAVE CONTRIBUTED £12.2 MILLION TO GROUP EBITDA IN CURRENT FINANCIAL YEAR.FOLLOWING COMPLETION OF DISPOSAL, PORTFOLIO WILL MAKE NO CONTRIBUTION TO GROUP EBITDA IN FINANCIAL YEAR TO 30 SEPTEMBER 2020.  Full Article

Ei Group Says Proposed Disposal Of 370 Properties Was Approved At GM
Thursday, 7 Feb 2019 

Feb 7 (Reuters) - Ei Group PLC ::SHAREHOLDER AT GM APPROVE PROPOSED DISPOSAL OF 370 PROPERTIES FOR EXPECTED GROSS AGGREGATE CASH CONSIDERATION OF £348 MILLION.  Full Article

EI Group Says Trading In Jan. Remained In Line With Expectations
Thursday, 7 Feb 2019 

Feb 7 (Reuters) - EI Group PLC ::TRADING IN JANUARY REMAINED IN LINE WITH OUR EXPECTATIONS.LIKE-FOR-LIKE NET INCOME GROWTH OF 2.0% IN 18 WEEKS TO 2 FEBRUARY 2019.CHRISTMAS TRADING PERIOD WAS PARTICULARLY STRONG.ANTICIPATING ABOUT 460 MANAGED PUBS WILL BE TRADING IN OUR ESTATE BY 30 SEPTEMBER 2019.  Full Article

Ei Group Divests 370 Commercial Properties For £348 Mln
Friday, 11 Jan 2019 

Jan 11 (Reuters) - EI Group PLC ::EI GROUP PLC - DISPOSAL OF 370 COMMERCIAL PROPERTIES.EI GROUP PLC - PROPOSED DEAL FOR EXPECTED GROSS AGGREGATE CASH CONSIDERATION OF £348 MILLION..EI GROUP PLC - PORTFOLIO IS BEING SOLD ON A DEBT FREE BASIS FOR EXPECTED GROSS AGGREGATE CASH CONSIDERATION OF £348 MILLION.EI GROUP PLC - DISPOSAL OF PORTFOLIO REPRESENTS A SUCCESSFUL OUTCOME OF PREVIOUSLY ANNOUNCED SALE PROCESS.EI GROUP PLC - SALE VALUE REPRESENTS A 13 TIMES MULTIPLE OF EARNINGS AND IS IN LINE WITH NET BOOK VALUE OF ASSETS.EI GROUP PLC - A SIGNIFICANT PROPORTION OF DISPOSAL PROCEEDS WILL BE USED TO REDUCE LEVEL OF GROUP'S OUTSTANDING DEBT.EI GROUP PLC - DISPOSAL PROVIDES BOARD WITH OPPORTUNITY TO CONSIDER MORE IMMEDIATE RETURNS TO SHAREHOLDERS.EI GROUP PLC - ROTHSCHILD & CO ACTED AS SOLE FINANCIAL ADVISER TO EI GROUP ON DISPOSAL.  Full Article

Ei Group Announces Share Buyback Programme
Tuesday, 20 Nov 2018 

Nov 20 (Reuters) - EI Group PLC ::EI GROUP PLC - SHARE BUYBACK PROGRAMME.EI GROUP PLC - SHARE BUYBACK PROGRAMME OF UP TO GBP20 MILLION.  Full Article

Ei Group FY Underlying Pretax Profit Of 122 Mln Stg
Tuesday, 20 Nov 2018 

Nov 20 (Reuters) - EI Group PLC ::FY UNDERLYING PROFIT BEFORE TAX OF £122 MILLION (2017: £121 MILLION).EXPECT TO ADD A FURTHER 20-25 PUBS IN CURRENT FINANCIAL YEAR.TRADING PERFORMANCE OF PORTFOLIO OF BUSINESSES IS PROGRESSING IN LINE WITH OUR EXPECTATIONS.  Full Article

Ei Group Posts FY Underlying Pretax Profit Of 122 Mln Stg
Tuesday, 20 Nov 2018 

Nov 20 (Reuters) - Ei Group PLC ::FY UNDERLYING PROFIT BEFORE TAX OF £122 MILLION (2017: £121 MILLION).EXPECT TO ADD FURTHER 20-25 PUBS IN CURRENT FINANCIAL YEAR IN MANAGED INVESTMENTS BUSINESS.TRADING PERFORMANCE OF PORTFOLIO OF BUSINESSES IS PROGRESSING IN LINE WITH OUR EXPECTATIONS.  Full Article

UPDATE 2-Worries over global trade, Italy lead FTSE 100 lower

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