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John Menzies PLC (MNZS.L)

MNZS.L on London Stock Exchange

695.50GBp
21 Aug 2017
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Latest Key Developments (Source: Significant Developments)

John Menzies declares interim dividend of 6 pence/shr
Tuesday, 15 Aug 2017 02:22am EDT 

Aug 15 (Reuters) - JOHN MENZIES PLC ::H1 PRETAX PROFIT 500,000 STG VERSUS 3.0 MILLION STG YEAR AGO.H1 REVENUE 1.217 BILLION STG VERSUS 1.002 BILLION STG YEAR AGO.INTERIM DIVIDEND 6 PENCE PER SHARE.FIRMLY ON TRACK TO MEET BOARD'S EXPECTATIONS FOR FULL YEAR​.‍HAS CONTINUED TO TRADE WELL SINCE PERIOD END​.  Full Article

John Menzies comments on DX statement
Friday, 14 Jul 2017 04:06am EDT 

July 14 (Reuters) - DX (Group) Plc :Response to DX (Group) Plc announcement.Will continue to work with DX to establish impact, if any, of DX's announcement on proposed combination of DX and John Menzies' distribution division.  Full Article

Menzies says considering position after DX probe news
Friday, 9 Jun 2017 03:00am EDT 

June 9 (Reuters) - John Menzies Plc ::Response to DX (Group) Plc announcement.‍Board of John Menzies is considering its position and will make a further announcement as and when appropriate.  Full Article

DX, John Menzies ‍boards announce agreed revised terms of transaction​
Monday, 5 Jun 2017 02:00am EDT 

June 5 (Reuters) - DX (Group) Plc : :John Menzies' distribution division - update.‍update on proposed combination of DX and John Menzies' distribution division​.‍boards of DX and John Menzies today announce agreed revised terms of transaction​.DX (group) - ‍based on a joint assessment, boards estimate that combination would generate cost synergies of around £10 million per annum​.‍envisaged that DX would acquire Menzies distribution for consideration, on a cash and debt free basis, comprising £40 million in cash​.Co would also ‍issue new DX ordinary shares representing 65% of DX's issued share capital as enlarged by transaction​.‍cash consideration would be satisfied by new borrowings by enlarged group​.‍current DX shareholders would therefore own, in aggregate, 35% of DX's enlarged issued share capital​.DX (group) - ‍proposed that approximately 17% of john Menzies' defined benefit pension scheme would transfer to enlarged group as part of transaction​.DX (group) - ‍john Menzies intends to raise gross proceeds of about £30 million by way of a conditional cash placing of new shares, largely to institutional investors​.‍proceeds of placing would be retained by john menzies post completion of transaction​.dx (group) - ‍in light of revised terms, gatemore, owner of 21.3% of DX, has entered into an irrevocable undertaking to vote in favour of resolutions​.‍boards of DX and John Menzies continue to anticipate transaction will be completed during summer of 2017​.  Full Article

John Menzies says confident of DX deal completing during summer
Friday, 12 May 2017 02:14am EDT 

May 12 (Reuters) - John Menzies Plc :Says group has had a positive start to year, continuing to make good progress against our strategic objectives..Says at Menzies Aviation, underlying business is performing well with solid revenue growth in period of 12 percent on a constant currency basis..Menzies Distribution overall sales decline of 3.1 percent in first four months of year, against year ago, is broadly in line with forecasts..Says rate of decline within magazine market is sharper than expected..Says proposed deal to combine Menzies Distribution with DX continues to move forward positively..Says remains confident of a conclusion to deal during summer..Source text for Eikon: [ID:].  Full Article

UK's CMA accepts undertakings in Menzies-BBA aviation deal
Tuesday, 25 Apr 2017 02:30am EDT 

April 25 (Reuters) - UK's Competition and Markets Authority (CMA)::Accepted undertakings in lieu of reference to phase 2 given by Menzies Aviation Plc and Menzies Aviation Inc.Merger between Menzies and ASIG Holdings Limited and ASIG Holdings Corp will therefore not be referred to phase 2 investigation.  Full Article

DX confirms top investor Gatemore withdraws EGM requisition
Friday, 7 Apr 2017 08:50am EDT 

DX (Group) Plc : Dx confirms that it has received a further notice on behalf of Gatemore withdrawing this requisition. . Board will continue to progress its discussions with John Menzies over a potential combination with distribution division .Further announcements will be made in due course regarding progress of proposed transaction..  Full Article

DX Group says in talks to merge with John Menzies' distribution unit
Friday, 31 Mar 2017 02:00am EDT 

DX(Group) Plc : Potential combination of DX And John Menzies' distribution division . They are in discussions regarding potential combination of dx and john menzies' distribution division . Boards of dx and john menzies believe that combination has strong strategic logic for all stakeholders . Based on a preliminary joint assessment, boards of dx and john menzies estimate combination would generate cost synergies in range of £8 million to £12 million per annum . It is currently envisaged that transaction would be effected by dx acquiring menzies distribution for consideration, on a cash and debt free basis . Dx (group) - consideration comprising £60 million in cash and issue of new dx ordinary shares representing 80% of dx's issued share capital as enlarged by transaction . Cash consideration will be satisfied by new borrowings by enlarged group . As part of transaction, it is proposed that approximately 17% of john menzies' defined benefit pension scheme would transfer to enlarged group . Enlarged group would comprise a new chairman and new independent non-executive directors . Dx (group) - greg michael and paul mccourt, currently managing director and finance director, respectively, of menzies distribution, would become group ceo and cfo of dx . Daljit basi, currently finance director of dx, will become an executive director. . Anticipate transaction will be completed during summer of 2017..  Full Article

UK's CMA says served initial enforcement order on Menzies-ASIG deal
Thursday, 2 Feb 2017 02:19am EST 

:Competition and Markets Authority serves initial enforcement order under section 72(2) of Enterprise Act 2002 on Feb. 1, in relation to completed acquisition by anticipated acquisition by Menzies Aviation Plc and Menzies Aviation Inc. Of Asig Holdings Limited and Asig Holdings Corp.  Full Article

UK's CMA to consider undertaking in John Menzies ASIG deal
Tuesday, 3 Jan 2017 02:30am EST 

UK's Competition and Markets Authority :To look at Menzies' undertakings offer in detail on anticipated acquisition of ASIG Holdings Limited and ASIG Holdings Corp..  Full Article

DX Group, John Menzies end merger talks

Aug 14 British mail delivery company DX Group said on Monday talks for a potential merger with John Menzies Plc's distribution unit had been terminated due to unsuitable terms.