Key Developments: Vesuvius PLC (CKSNF.PK)
5.45USD
15 May 2013
$-0.15 (-2.68%)
$5.60
$5.45
$5.45
$5.45
17,100
2,909
$10.55
$5.16
Latest Key Developments (Source: Significant Developments)
Vesuvius PLC Sells Precious Metals Processing Division
Vesuvius PLC announced that it has entered into an agreement to sell its Precious Metals Processing Division (PMP) to Heimerle + Meule GmbH (H + M), a subsidiary of L. Possehl & Co, mbH (Possehl) for a cash consideration of EUR56.8 million, payable on completion. Completion, which is expected by the end of the first half of 2013. Full Article
Vesuvius PLC Comments On FY 2013 Revenue Guidance
Vesuvius PLC announced that for fiscal 2013, it expects the group's revenue to be lower than in fiscal 2012. The Company reported revenue of GBP1.5 billion in fiscal 2012. Full Article
Vesuvius PLC Announces Demerger Of Performance Materials division To Alent plc
Vesuvius PLC announced that the demerger of Performance Materials division to Alent plc has become effective. Admission of the Alent Shares to the premium listing segment of the Official list and to trading on the London Stock Exchange's main market for listed securities, under the ticker ALNT, is expected to occur at 8.00 a.m. on December 19, 2012. Full Article
Cookson Group PLC Updates On Demerger
Cookson Group PLC announced that all the conditions to the scheme of arrangement of Cookson, which was announced on November 1, 2012, in connection with the proposed demerger of the Performance Materials division of Cookson to Alent plc have been satisfied and the Scheme has become effective. In accordance with the terms of the Scheme, the Cookson Shares have been cancelled and Cookson has become a wholly owned subsidiary of Vesuvius plc. Vesuvius plc has issued and allotted one Vesuvius Share for each Cookson Share held by Scheme Shareholders on the Cookson register on December 14, 2012, the Scheme Record Time. The listing of Cookson's Shares on the premium listing segment of the Official List and to trading on the London Stock Exchange's main market for listed securities is expected to be cancelled with effect from on December 17, 2012. The Demerger, which is subject to the satisfaction of further conditions (including Court confirmation of the Vesuvius Capital Reduction), is expected to become effective prior on December 19, 2012. If the Demerger becomes effective, each Vesuvius Shareholder on the register at on December 18, 2012, the Demerger Record Time, will receive one Alent Share in addition to each Vesuvius Share they already hold. Vesuvius will trade with the ticker VSVS once the Demerger becomes effective. Full Article
Cookson Group plc To Split Into Two-Reuters
Reuters reported that Cookson Group plc will separate its performance materials division from its engineered ceramics and precious metals processing divisions, a move welcomed by shareholder Cevian Capital. Shareholders in the Company would receive one share in each of the two new entities for every Cookson share they hold. The performance materials division - which supplies materials and chemicals to the electronics, automotive, industrial and construction markets - would demerge to form a London-listed specialty chemicals company, called Alent Plc. The engineered ceramics division, whose products are used in the glass and solar industries as well as by steelmakers and foundries, would be renamed Vesuvius Plc. Full Article
Cookson Group plc Declares Interim Dividend
Cookson Group plcannounced that the Board is declaring an interim dividend of GBP0.075 per share (2011: interim dividend GBP0.0725) per ordinary share in respect of the year ending December 31, 2012. The dividend will be paid on October 15, 2012 to ordinary shareholders on the register at the close of business on September 14, 2012. Based upon the number of ordinary shares in issue at June 30, 2012, the total cost of the dividend would be GBP20.9 million. Full Article
Cookson Group plc Signs Pension Insurance Buy-In Agreement With Pension Insurance Corporation
Cookson Group plc announced that it has signed a pension insurance buy-in agreement with Pension Insurance Corporation (PIC), a provider of pension insurance solutions to defined benefit pension funds. The transaction covers the UK Plan's pensioner liabilities, approximately 60% of the total liabilities, with an insurance premium of circa GBP320 million met from existing assets of the UK Plan. Full Article
Cookson Group plc Considers Demerger Of Two Main Units-Reuters
Reuters reported that Cookson Group plc started a strategic review to consider options including a potential demerger of its two main divisions, engineered ceramics and performance materials. Full Article
Cookson Group plc Announces Acquisition Of Metallurgica
Cookson Group plc announced that on March 29, 2012, it completed the acquisition of Metallurgica Beteiligungsesellschaft mbH, Metallurgica Gesellschaft fur Huttenwerkstechnik mbH & Co. KG, and Metallurgica North America, LP (Metallurgica). Metallugica, headquartered in Germany, is one of the suppliers of fluxes, and will be integrated into the Engineered Ceramics division. Full Article
Cookson Group plc Comments On Long Term Earnings Guidance-Conference Call
Cookson Group plc announced that it is targeting to improve earnings by 50% over the three years to fiscal 2013. The Company reported EPS of GBP60 in fiscal 2010. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of GBP70 for fiscal 2011; EPS of GBP79 for fiscal 2012; EPS of GBP86 for fiscal 2013. Full Article
BRIEF-Vesuvius says sale of precious metals processing unit for 56.8 mln euros
LONDON, March 27 - Vesuvius PLC : * Disposal * Disposal of precious metals processing division * Cash consideration of 56.8 mln euros, payable on completion * Completion of disposal is expected by the end of the first half of 2013 * Sell its precious metals processing division to Heimerle + Meule GmbH, a unit
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