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Fidessa Group PLC (FDSA.L)

FDSA.L on London Stock Exchange

3,855.00GBp
13 Jul 2018
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89,679
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4,190.00
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2,020.00

Latest Key Developments (Source: Significant Developments)

UK's Takeover Panel Sets May 4 Deadline For SS&C To Make An Offer For Fidessa
Monday, 23 Apr 2018 

April 23 (Reuters) - UK'S TAKEOVER PANEL -:UK'S TAKEOVER PANEL -IN ACCORDANCE WITH PANEL STATEMENT 2018/3, DEADLINE REFERRED TO FIDESSA OFFER CEASED TO APPLY IN RELATION TO SS&C.UK'S TAKEOVER PANEL - SS&C MUST, BY 5.00PM ON 4 MAY, EITHER ANNOUNCE A FIRM INTENTION TO MAKE AN OFFER FOR FIDESSA OR SAY IT DOES NOT INTEND TO DO SO.  Full Article

Ion Capital Says Agreed With Fidessa On Offer
Friday, 20 Apr 2018 

April 20 (Reuters) - ION CAPITAL UK LTD::RECOMMENDED CASH OFFER FOR FIDESSA GROUP PLC.BOARDS OF ION AND FIDESSA ARE PLEASED TO ANNOUNCE THAT THEY HAVE REACHED AN AGREEMENT ON TERMS OF A RECOMMENDED ALL CASH OFFER.DEAL FOR APPROXIMATELY £1.5 BILLION.OFFER IMPLIES AN ENTERPRISE VALUE MULTIPLE OF APPROXIMATELY 4.7X FIDESSA'S RECURRING REVENUE AND 25.9X CASH EBITDA FY ENDED DEC 31.QUALIFYING FIDESSA SHAREHOLDERS WILL RECEIVE £39.50 FOR EACH FIDESSA SHARE, COMPRISING CASH CONSIDERATION AND DIVIDEND.ION CAPITAL UK LTD - FIDESSA DIRECTORS INTEND TO RECOMMEND UNANIMOUSLY THAT FIDESSA SHAREHOLDERS ACCEPT, OR PROCURE ACCEPTANCE OF, OFFER.FIDESSA HAS WITHDRAWN ITS RECOMMENDATION OF TEMENOS OFFER AND PROPOSES TO ADJOURN FIDESSA SHAREHOLDER MEETINGS CONVENED FOR 27 APRIL.ION BIDCO HAS RECEIVED SUPPORT FOR OFFER FROM FIDESSA SHAREHOLDERS REPRESENTING ABOUT 25.1 PER CENT. OF FIDESSA'S SHARE CAPITAL.FIDESSA BOARD, WHICH HAS BEEN SO ADVISED BY ROTHSCHILD AS TO FINANCIAL TERMS OF OFFER, CONSIDERS TERMS OF OFFER TO BE "FAIR AND REASONABLE".  Full Article

ION Group Investment Ltd Says Possible Cash Offer For Fidessa Group
Friday, 20 Apr 2018 

April 20 (Reuters) - ION Group Investment Limited: :POSSIBLE CASH OFFER FOR FIDESSA GROUP PLC .STATEMENT REGARDING A POSSIBLE OFFER FOR FIDESSA GROUP PLC.APPROACHED FIDESSA'S BOARD OF DIRECTORS AND SOME FIDESSA SHAREHOLDERS WITH PROPOSAL TO BUY FIDESSA FOR £38.703 PER SHARE IN CASH.FIDESSA SHAREHOLDERS WOULD ALSO BE ENTITLED TO RECEIVE AND RETAIN FY FINAL AND SPECIAL DIVIDEND AMOUNTING TO 79.7 PPER SHARE.  Full Article

UK's Takeover Panel Sets April 20 PUSU Deadline For ION & SS&C On Fidessa Offer
Tuesday, 10 Apr 2018 

April 10 (Reuters) - UK'S Takeover Panel ::ION AND SS&C MUST BY APRIL 20, EITHER ANNOUNCE FIRM INTENTION TO MAKE OFFER FOR FIDESSA OR SAY THEY DO NOT INTEND TO DO SO.  Full Article

Trading and investment services firm Fidessa to benefit from regulatory changes
Thursday, 26 Oct 2017 

Oct 26 (Reuters) - Fidessa Group Plc :FIDESSA - REMAINS UNCLEAR EXACTLY HOW CUSTOMERS WILL BE AFFECTED BY REGULATORY, STRUCTURAL, POLITICAL CHANGES, EXPECTS OPPORTUNITIES TO DEVELOP​.FIDESSA GROUP PLC - ‍"WELL POSITIONED TO BENEFIT FROM OPPORTUNITIES THAT WILL ARISE IN MARKETS AS A RESULT OF REGULATORY AND STRUCTURAL CHANGE​".FIDESSA - SEEMS CLEAR MIFID II WILL GO AHEAD AS PLANNED ALTHOUGH FIDESSA BELIEVES THAT THERE WILL BE SOME PHASING IN WAY IT IS IMPLEMENTED DURING 2018​.FIDESSA GROUP PLC - ‍"EXPECT THAT 2017 CONSTANT CURRENCY REVENUE GROWTH WILL BE AROUND LEVELS SEEN DURING 2016​".  Full Article

Fidessa says FY pretax profit up 25 pct to 48.8 mln stg
Monday, 13 Feb 2017 

Fidessa Group Plc : Says preliminary results for year ended Dec. 31 2016 . Says 64 pct of total revenue accounted for outside of Europe, with 73 pct denominated in non-sterling currency. . Says good international spread providing stability against uncertainty following Brexit vote and U.S. election. . Says solid revenue growth across all regions. . Says recurring revenue representing 87 pct of total revenue. . Says strong cash generation, with 95.2 mln stg cash balance after dividend payments of 32.5 mln stg. . Says final and special dividends declared, bringing total 2016 payout to 92.5 pence per share. . Says expect headwind seen in 2016 as a result of consolidations and closures within our customer base will now start to reduce. . Says continue to believe that we are well positioned to benefit from opportunities that will arise in markets as a result of regulatory and structural change . Says revenue of 331.9 mln stg which represents growth on a reported basis of 12 pct (2015: 295.5 mln stg and 7 pct growth) . Says on a constant currency basis, revenue growth of 3 pct compares with 4 pct in 2015. . Says recurring revenue of 287.8 mln stg grew 14 pct and represents 87 pct of total revenue (2015: 252.5 mln stg, 85 pct of total revenue). . Says revenue for sell-side business of 308.9 mln stg grew 13 pct (2015: 273.6 mln stg and 4 pct growth).  Full Article

Fidessa says there is a degree of uncertainty as a result of Brexit
Monday, 1 Aug 2016 

Fidessa Group Plc : Interim dividend up 9 percent to 14.3 penceper share . Says for six months to 30th june 2016, fidessa achieved revenue of £158.3 million, represents growth on a reported basis of 9% . Says h1 recurring revenue of £136.4 million grew 8% and represents 86% of total revenue . Says h1 diluted earnings per share have increased by 9% to 40.9 pence . Says fidessa continues to believe that it will benefit from opportunities that will arise as a result of changes in regulation . Says fidessa expects that 2016 constant currency growth will be around levels that it has seen in first half . Says on a constant currency basis, revenue growth of 4% compares with 3% growth for six months ended 30th june 2015 . Says h1 revenue for sell-side business grew 9% and for buy-side business grew 5% . Says h1 derivatives revenue of £18.9 million grew 30% . Says total h1 operating expenses for six months ended 30 th june 2016 grew 8% to £136.5 million . Says h1 operating profit has increased 15% to £22.0 million . Says closed H1 with a cash balance of £66.9 million (2015: 61.6 mln stg) and no debt .Says Fidessa continues to see structural and regulatory drivers within market, there is a degree of uncertainty as a result of brexit.  Full Article

UK competition watchdog to examine Ion's takeover of Fidessa

Britain's Competition and Markets Authority said on Monday it would examine whether Ion Capital's proposed acquisition of financial systems firm Fidessa will stifle competition.