Market News - Page 792

A good performance in changing times….

“Good performance despite challenging trading conditions”
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The Boards of Dee Valley and Severn Trent are pleased to announce that they have reached agreement on the terms of a recommended acquisition of the entire issued and to be issued voting and non-voting ordinary share capital of Dee Valley by Severn Trent Water.
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M.P. Evans Group PLC (“M. P. Evans” or the “Company”)
Rejection of revised offer from Kuala Lumpur Kepong Berhad (“KLK”)
The Board of M.P. Evans (the “Board”) notes the announcement by KLK of a revised unsolicited final offer to acquire the entire issued share capital of the Company at a price of 740 pence per M.P. Evans share (the “Revised Offer”). The Revised Offer is final save as set out below.
The Board received a non-binding proposal from KLK on the same terms as the Revised Offer (other than in respect of it being declared final) on 11 November 2016 which it considered, together with its financial adviser Rothschild, and unanimously rejected on the basis that it very substantially undervalues the Company, its unique position and its future growth potential.
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KUALA LUMPUR KEPONG BERHAD (“KLK”)
through its wholly-owned subsidiary, KL-KEPONG INTERNATIONAL LTD (“KLKI”)
Summary
— On 25 October 2016, the board of directors of KLK, through its wholly-owned subsidiary, KLKI, announced the terms of a cash offer at 640 pence per share for MP Evans by KLKI to acquire the entire issued and to be issued share capital of MP Evans (the “Initial Offer”).
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McKay Securities PLC, the Real Estate Investment Trust (REIT) specialising in South East and London office and industrial property, today announces its half year results for the six months ended 30 September 2016. …

Mark Cropper, Chairman, commented:

“Innovation, driven from research & development activities, continues to be a major focus across the

Group, delivering new products, solutions and technologies to the market.

The full year is expected to deliver in line with the Board's expectations and the outlook for the business this year remains encouraging.”…

AGM Statement November 2016

A & J Mucklow Group Plc, the Midlands specialist Real Estate Investment Trust, announces a trading update for the period from 1 July 2016 to 14 November 2016 to coincide with its Annual General Meeting this morning….