A cheeky website about deals, dealmakers and anything else I find interesting. Edited by Ben Harrington. If you have a tip or want to discuss a story please feel free to email Betaville at ben@betaville.co.uk. Betaville can also be reached at Whats App, Signal or Telegram. Betaville's Twitter handle is @bharringtonw11 and you can message me via Twitter with stories.
Betaville's UNCOOKED ALERT about Christopher Mills building a stake in Aim-listed property lender Urban Exposure has been confirmed.
Below is a link to an regulatory news announcement from Oryx Internatinal Growth Fund declaring a 3.8pc shareholding in Urban Exposure...
Small cap enthusiasts will be watching to see how shares of Aim-listed Tiziana Life Sciences reacts this morning after its US ADR stock shot up 10pc on Friday evening on large volume.
Last week, Tiziana unveiled the details of a Royal Marseden trial for StemPrintER, its stem cell biology-based genomic tool for the prediction of disease recurrence in breast cancer patients, at the ASCO conference...
Last night's scoop from the FT about BT selling Opeanreach to Macquarie is getting a serious poo-pooing this morning from analysts, hacks and spinners.
Indeed, Jim "Armo" Armitage, City editor of the Evening Standard, pisses on the story from a high height. Below is a link to his column and a follow up "EXCLUSIVE" containing a "denial" in a leaked memo to Opeanreach staff:..
It would appear scribblers at Citigroup have a direct line into Betaville's brain.
On Wednesday evening I wrote in "Cash Calls - who is next? - Part 8" that Stagecoach was to be added to the Cash Calls list. Below is the link:
https://www.betaville.co.uk/news/cash-calls-who-is-next-part-8/..
The Pink 'Un has just published a rather good tale about BT Group starting talks about a sale of Openreach as part of a deal that would value the business at up to £22 billion...
There will be plenty of small cap punters watching Tiziana Life Sciences this morning after it released details of a new study on StemPrintER, its stem cell biology-based genomic tool for the prediction of disease recurrence in breast cancer patients, at the ASCO conference last night.
Below is a link to an interview with Tiziana's chief executive Gabriele Cerrone, who has been working on the test over the last seven years...
There are couple of new additions to the cash call list Betaville has been running over the last few weeks. They are: equipment rental company Ashtead and Stagecoach, the bus and rail operator. Below is the updated list:
1. International Consolidated Airlines Group
2. InterContinental Hotels Group
3. Compass
4. Mitchells & Butlers
5. Kingfisher
6. Marstons
7. Provident Financial
8. Travis Perkins..
An investor that specialises in activism and private equity is rumoured to have built up a secret shareholding in Aim-listed Urban Exposure, the controversial residential development finance company at the centre of a takeover tussle for its loan book.
Christopher Mills - who runs Harwood Capital Management Group and the North Atlantic Smaller Companies Investment Trust - is thought to have bought a substantial stake Urban Exposure, said people following the situation...
Intrepid hack Tom "Tommy" Teodorczuk has discovered Crispin Odey's flagship fund is down 9.5pc in April following the stockmarket rally over the month. Below is a link to Tom's piece in Financial News:
Syed Shah got a big fright the other day - a $9 million fright to be exact.
When US oil prices crashed last month Shah bought a bunch of futures contracts at what he thought was one cent a barrel, hoping to pick the bottom of the rout.
However, little did he know that at the time he was buying through his $77,000 account at one cents the real price of oil was actually minus $3.70 a barrel...
Hyve Group, the London-listed events and exhibitions company, has finally launched its heavily discounted £120 million rights issue, confirming Betaville's from scoop several weeks ago.
Below is the link to the Hyve Group statement:..
Just when you thought things couldn't get weirder at Wirecard: along comes Deka.
The German investor, which owns a 1.6pc, shareholding in the controversial payments company is calling for the removal of Markus Braun, chief executive. Below is a link to Deka's quotes:
https://www.nasdaq.com/articles/deka-demands-removal-of-wirecard-ceo-2020-05-06..
Another day, another equity placing in the London market. This time it's FTSE 250-listed National Express, which has just announced an accelerated bookbuild to raise up 20pc (around £240 million) of its market capitalisation.
Embattled Lloyd's of London insurer Hiscox also announced the results of its equity fundraising, tapping shareholders for £375 million...
Citigroup is today telling clients easyJet will have to launch a major cash call to raise between £700 million and a £1 billion.
Mark Manduca - airlines analyst at Citigroup, and son of City grandee and Prudential chairman Paul Manduca - reckons there is now a "high" probability the budget airline will have to carry out a rights issue in the coming weeks or months...
Vin Murria has just announced she and her family own a sizeable shareholding in M&C Saatchi, the advertising agency that has been beset by accountancy issues since last year.
According to this morning's statement, Indian-born Murria - who made millions when Advanced Computer Software Group was sold to Vista Equity Partners in 2015 - now has a 13.25pc shareholding in M&C Saatchi, which was founded by adworld celebrities Maurice and Charles Saatchi. Below is the link:..
City wags reckon Kingfisher is working with bankers at Credit Suisse on "liquidity options".
What that means exactly remains unclear but one can presume it would involve the owner of B&Q, Screwfix and Castorama raising cash in some shape or form...
Does anybody else think the juxtoposition of Sir Chris Hohn taking a short position in Wirecard and his very public call for the removal of the German company's chief executive a bit odd?
You could understand why the German company's surpervisory board might acquiesce to The Childrens' Investment Fund if the firm had pursued its usual method of buying a sizeable stake in the company...
Hat tip to Phil Aldrick to landing another cracking economics scoop in The Times business section today about how a Gilt auction almost failed during the March stockmarket sell off. Below is the link:
Quelle surprise: Tim Martin's JD Wetherspoon is issuing new stock to raise £141 million ahead of a move to reopen the pub business. Below is the link:
I have had a few enquiries about whether Tiziana's new new combinational therapy was the one announced just a few hours after the publication of Betaville's piece on Monday.
People familiar with the matter have confirmed the announcement on Monday lunchtime is the new combinational therapy referred to in my piece on Monday. I have pasted the link to the company announcement below:..
[Disclaimer - the information on Betaville does not consitute any form of investment recommendation and is not intended to be relied upon by readers in making, or refraining from, any investment decisions].