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Shawbrook Group PLC (SHAW.L)

SHAW.L on London Stock Exchange

342.00GBp
28 Apr 2017
Change (% chg)

1.00 (+0.29%)
Prev Close
341.00
Open
342.00
Day's High
342.00
Day's Low
339.00
Volume
781,734
Avg. Vol
1,344,439
52-wk High
345.00
52-wk Low
117.30

Latest Key Developments (Source: Significant Developments)

Shawbrook recommends shareholders reject Consortium offer
Friday, 31 Mar 2017 04:29am EDT 

Shawbrook Group Plc : Response to firm offer announcement . Offer price has not changed from proposed terms that were previously rejected by board of Shawbrook on 6 March 2017 . Offer price has not changed from proposed terms that were previously rejected by board of shawbrook on 6 March 2017 . Board has concluded that it is not able to recommend offer . Notes change in transaction structure from scheme of arrangement to a takeover offer with acceptance condition of 50 percent plus one share . Board therefore recommends that shareholders reject offer . Board will in due course be communicating with shareholders to set out its views in more detail . Board is being advised by BofA Merrill lynch and goldman sachs international in respect of offer .Lindsey Mcmurray has not been involved in board's consideration of offer.  Full Article

Shawbrook says Marlin Bidco offers to buyout company at 330p/shr
Friday, 31 Mar 2017 02:22am EDT 

Shawbrook Group Plc : Offer for Shawbrook Group Plc . Marlin Bidco, co jointly owned by funds by Pollen Street capital and funds advised by BC Partners, announces a cash offer . Offer price of 330 pence per Shawbrook share, together with announced dividend, represents a premium of approximately 32.5 per cent . Offer, together with announced dividend, values entire ordinary share capital of shawbrook at £842.4 million . As part of transaction, existing fund investors advised by Pollen Street Capital will be replaced .Depending on level of shareholder support for offer, shawbrook may remain listed as it is today, or may be delisted and return to private ownership.  Full Article

Marlin Bidco says surprised by Shawbrook's rejection of 330p/shr bid
Tuesday, 7 Mar 2017 04:01am EST 

Marlin Bidco Limited: Proposed cash offer for Shawbrook Group Plc . Notes announcement by Shawbrook rejecting its proposed cash offer at 330 pence per Shawbrook share . Believe Shawbrook will benefit from being returned to private ownership . Is surprised by Shawbrook's decision, given that in marlin bidco board's view proposed offer represents an attractive premium for shareholders .Considering its position and there can be no certainty that any transaction will proceed.  Full Article

Shawbrook Group posts 14 pct increase in FY profit before tax
Tuesday, 7 Mar 2017 02:00am EST 

Shawbrook Group Plc : FY net interest margin 5.6 percent versus 6.2 percent year ago . Reiterates confidence in its near and medium term outlook . FY cost-to-income ratio 45.1 percent versus 48.3 percent year ago . 14% increase in FY profit before tax to £91.4 million . 26% increase in FY statutory profit before tax to £88.2 million . As at dec 31, loan to deposit ratio 102.7 percent versus 104.2 percent year ago . As at Dec 31, CET1 ratio 13.3 percent versus 14.4 percent year ago . Continue to proactively monitor risk appetite and underwriting criteria . Remain alert to potential effects of uncertainty in macroeconomic environment following triggering of article 50 .Primary aim in 2017 and beyond is to maintain returns of between 22% and 25%.  Full Article

Shawbrook Group rejects revised proposal on possible offer for Shawbrook
Tuesday, 7 Mar 2017 02:00am EST 

Shawbrook Group PLC : Update regarding possible offer for Shawbrook . Lindsey Mcmurray has not been, and will not be, involved in board's consideration of any proposal made by consortium . Board has concluded that it is not willing to recommend consortium's revised proposal . Revised proposal has therefore been rejected by board .Confirms it carefully reviewed proposed offer made by Pollen Street Capital Limited and BC Partners LLP.  Full Article

Shawbrook says Pollen Street Capital, BC Partners make 330 pence/shr cash offer for co
Friday, 3 Mar 2017 11:27am EST 

Shawbrook Group Plc : Possible offer for Shawbrook Group Plc . Notes share price movement and confirms that it has received a proposal from Pollen Street Capital Limited . Proposal from Pollen Street Capital and BC Partners for entire issued and to be issued share capital of Shawbrook . Under terms of possible offer, Shawbrook shareholders would receive 330 pence per ordinary share in cash . In addition, Shawbrook shareholders would be entitled to retain any final dividend in respect of year ended Dec. 31 2016 .Funds managed or advised by Pollen Street currently hold approximately 38.9 pct of issued share capital of shawbrook.  Full Article

Shawbrook names Dylan Minto as CFO
Tuesday, 7 Feb 2017 06:00am EST 

Shawbrook Group Plc : Appointment of chief financial officer . Appointment of Dylan Minto as chief financial officer and executive director of Shawbrook Group Plc with effect from Feb. 6 .Appointment follows an extensive market search for best candidate following departure of Tom Wood in June.  Full Article

Shawbrook spares savers from Bank of England rate cut
Friday, 12 Aug 2016 06:44am EDT 

Shawbrook Group Plc : Said on friday it has decided not to pass on the full 0.25 percent bank of england rate cut to its savings customers . has not reduced the rates on its new offers with the exception of 3 products, which have seen smaller cuts than the 25bp rate cut, and it has recently increased rates on most of its fixed rate bonds. . has not reduced any of its rates for existing savers, with the exception of certain accounts which track the Bank of England base rate .Steve Pateman, CEO, commented: “We value our saving customers and see them as long term partners, as we do our borrowing customers.”.  Full Article

Shawbrook CEO says Brexit to impact level of lending growth
Wednesday, 27 Jul 2016 06:06am EDT 

Shawbrook Group Plc will have a lower period of growth than the company would have seen if Britain had not voted to leave the EU - CEO For the full story, click on:.  Full Article

Shawbrook Group says H1 pretax profit up 14 pct
Wednesday, 27 Jul 2016 02:00am EDT 

Shawbrook Group Plc : Interim results for the six months ended 30.06.16 . H1 underlying profit before tax up 14 pct from same period in 2015 to 38.0 mln stg, statutory PBT: 35.2 mln stg . Growth in book to 3.8 bln stg as we progressively increased originations by 22 pct to 993 mln stg, with strong growth across all three divisions . At present we are not seeing any material change in activity and indeed some markets that slowed in run up to referendum have picked up - CEO . Will continue to be cautious yet confident in our outlook and we are well prepared for a softer economic environment . Underlying PBT in H1 2016 would have been 41 pct higher when compared to H1 2015, 78 pct on a statutory PBT basis . Cost to income ratio of 47.9 pct, statutory cost to income ratio: 50.2 pct . Reaffirm our previous dividend guidance . Have already seen economic forecasts move from a near certain recession on June 24 to lower but still respectable growth rates for 2017 in latest IMF forecasts .Too soon to fully assess medium term Brexit impacts on broader economy given number of outcomes that remain possible - CEO.  Full Article

More From Around the Web

Shawbrook shares climb on hopes of buyout funds raising offer

British bank Shawbrook Group Plc rejected an 842 million pound ($1.05 billion) buyout bid from a consortium of private equity firms, but its shares climbed on Friday on hopes of a higher offer.