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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Renovo Grp | RNVO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 15.625 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 15.625 | 15.625 |
| Top Posts |
|---|
Posted at 16/7/2014 07:54 by cwa1 Trading Update and Proposed Change of Name H1 growth reflects early stages of transformation into a large scale, full service SME lender Proposed new name - Inspired Capital plc Renovo Group plc (AIM: RNVO), a leading provider of customer-focused financial solutions to SMEs, is pleased to provide a trading update for the six months ended 30 June 2014. Growth across the product suite has been strong in the first half of the year and particular interest is being seen in the newer products. Key metrics: 30 June 2014 30 June 2013* Growth Number of clients 1,085 870 24.7% Loans and other receivables GBP48.6m GBP38.1m 27.6% *These figures are those of Ultimate Finance Group plc and are prior to its acquisition by Renovo but are shown here for comparative purposes. Renovo has increased its number of clients by 24.7% to 1,085 and increased the total loans and other receivables by 27.6% to GBP48.6m, in comparison to 30 June 2013. Strong growth has been seen in our tailored offerings for construction, trade and retail finance. These are relatively new products, designed to meet specific customer needs, and represent the Company's first steps in diversifying its range of SME lending products. As at 30 June 2014, Renovo has provided GBP9m of funding into its SME finance subsidiaries. The cash has allowed the business to grow its lending to SMEs and to trial new products prior to them being leveraged by alternative debt funding, something that restricted lending whilst Ultimate Finance was an independent business. We continue to receive strong support from our core funding provider and see good interest from new potential funders. Renovo has doubled its invoice finance and asset finance sales forces during the period and we anticipate that this increased presence in the marketplace will drive growth at an even greater rate in our 2015 financial year. We were very pleased during the period to have hired Brian Cole as CEO. Brian's expertise and experience, previously as CEO at the GBP500m turnover UK subsidiary of Capital One, has benefited the Company significantly and he has begun the process of recruiting world class talent to join the existing senior team, rebranding the business, expanding the sales and marketing functions and setting the future technology strategy. A further update on progress will be provided in the interim results, due to be released in September 2014. Matt Cooper, Chairman of Renovo Group, commented: "We are pleased that our core business continues to show strong growth and it is very encouraging that the new products are seeing good demand. With Brian joining as CEO in April 2014, our development of the team, brand, and infrastructure required to deliver growth, both inside this business and beyond, continues as planned." Brian Cole, Chief Executive of Renovo Group, commented: "Our growth during the first half of this year reflects the early stages of the transformation of Renovo into a large scale, full service SME lender. We have made good progress against our stated strategy, launching diversified products and successfully doubling the invoice finance and asset finance sales force in order to seize the growth opportunities we see in the market over coming periods. We look to the future with confidence." Proposed change of name and requisition of General Meeting Renovo also announces its intention to change the name of the Company to Inspired Capital plc. The change requires shareholder approval and a Notice convening a General Meeting will be issued to shareholders today. The Company believes the new name is more representative of its current activities as opposed to those previously undertaken by Renovo. The General Meeting will be held at 12pm on 5 August at the offices of Henderson Global Investors, 201 Bishopsgate, London. |
Posted at 15/8/2013 14:28 by sbs I've discussed the amount of text that prospectuses have with the government. They say it is to protect investors - but how can it if no one reads it? |
Posted at 19/7/2013 18:52 by alimo You'd think that a merger with XEN would have more mileage than a complete change in direction to UFG. Are they saying that 20 years of skin/scar bio-research isn't worth anything - I've only heard of one fire sale of Prevescar; what about all the rest of the IP. If none of it has any residual value, then we have to start questioning the ability/motives/inteAll the major shareholders have professional reputations to maintain and lets see them flex their muscle to ensure that the smallest private investor gets good value out of any takeover. There are still officials within our company that owe a high degree of fiduciary duty to shareholders to ensure the accountants don't just wash their hands of Renovo. |
Posted at 12/9/2011 13:27 by bobbarker RESULTS OF GENERAL MEETING12 September 2011: Renovo Group plc (LSE: RNVO) announced that all resolutions proposed were duly passed at its General Meeting (GM), held today in London. In accordance with Listing Rule 9.6.18, the following resolutions are those which were passed by way of a poll at the meeting concerning special business including Resolution 1 which was passed as special business in accordance with Listing Rule 5.2.5 (4): -- Resolution 1: to cancel the listing of the ordinary shares in the capital of the Company on the Official List of the UKLA and to remove such ordinary shares from trading on the London Stock Exchange's Main Market for listed securities and to apply for admission of the ordinary shares to trading on AIM; -- Resolution 2: to authorise the Company to create sufficient distributable reserves by means of a capital reduction; -- Resolution 3: to adopt new articles of association to take account of the Company's move to AIM; -- Resolution 4: to permit the Company to purchase up to 25 per cent. of the ordinary shares in issue by way of an on-market share buy back. In addition, the following ordinary resolution was also passed having been taken by a poll amongst Independent Shareholders only: -- Resolution 5: to approve the waiver, granted by the Panel on Takeovers and Mergers of any requirement under Rule 9 of the City Code on Takeovers and Mergers, for Henderson Global Investors to make a general offer to the shareholders of the Company. |
Posted at 18/8/2011 16:28 by bobbarker Any thoughts:'Renovo Group plc ("Renovo" or the "Company") Following the announcement on 17 June 2011, Renovo is pleased to announce the publication today of a circular to shareholders regarding the Company's proposed restructuring plans (the "Circular"). On 3 March 2011, the Board announced that following the Phase III trial for Juvista® failing to meet its primary or secondary end points the Board was actively exploring all options to maximise shareholder value of the Company's cash and assets, including the possible sale of its clinical and preclinical programmes. In light of the above strategy, the Board is asking that shareholders vote on the resolutions set out in the Notice of General Meeting contained in the Circular to: · cancel the listing of the Ordinary Shares on the Official List of the UKLA and to cancel trading on the London Stock Exchange's Main Market for listed securities (the "Delisting") and to seek admission to trading on AIM; · adopt New Articles of Association that are more appropriate for a company admitted to trading on AIM; · reduce the Company's capital by cancelling the amount standing to the credit of the share premium account and capitalising the amount standing to the credit of the merger reserve account by way of the issue of Capital Reduction Shares, and to cancel the Capital Reduction Shares, so as to create distributable reserves ("Capital Reduction"); and · approve the buyback of Ordinary Shares by the Company in the market ("Share Buy Back") and waive the requirement that Henderson Global Investors, as a result of the Share Buy Back, be obliged to make an offer for the Company pursuant to Rules 9 and 37 of the Takeover Code ("Rule 9 Waiver"). |
Posted at 13/7/2011 23:22 by holly_dog Great to see some new investors (both institution and PI)Welcome aboard |
Posted at 26/6/2011 21:43 by cumnor Ignore a loser who has lost out big time elsewhere and is feeling agrieved at a poster on here. On a seperate note Rnvo's relative value is going up by the days as markets tumble and financing becomes even harder to come by, either through placings, ipos or traditional bank lending. Listed companies with bags of cash, practically no expenditure, valuable ip and tax credits (we are not just a cash shell) can pick and chose and tbh I would be happy enough if they considered an intelligent move on something with definite assets and low market cap as one of their options. A bit of life in another cash rich bombed out bio (asm) last week should encourage investors here. imo |
Posted at 17/6/2011 08:55 by cumnor I bought into this as a safe bet for my cash circa 15p-15.5 avg several months back and now i am glad I did. Unusual for an aim company to do exactly as it said it would and is a credit to the Prof. Given how the market and aim in particular has performed since this has been a wise investment, although no major deals, take out occured. Unlike the mgmts of many aim companies winding up Mgt have watched money, controlled costs and the involvement of a couple of big funds is very positive as they will ensure this will be the case and yet the potential remains for a merger/to given how the value of some really good aim companies with real assets have collapsed, thus in effect doubling what you can now get for money. The IP and anticipated trials, in effect paid for, are worth a few million and much more if they surprise. So i am happy, esp given the collapse of Aim, and would'nt be surprised to see new directors/investors take advantage of the cash pile while companies are cheap. I would be happy with that, esp as you can trust mgmt, a rare thing on aim. Given the impossibility for small companies to raise cash at present, either from banks or investors, 33ml cash, ip, a listing, ownership of a few clinical trials, minimal cash burn and a mgmt team with flair you can trust is worth a lot more than 14p per share. Happy to hold. imo |
Posted at 15/6/2011 16:52 by holly_dog I think of the large investors you have two distinct camps, those that bought for the news last year, and those that are interested in it as a distressed assetJP, UBS and RA Capital were the large buyers anticipating positive P3, and I think it's one of these that are selling down for whatever reason (maybe the guy who took out the position was booted and they are closing down the position with someone new - one of the large holders in my company recently dumped just because he was new and had a different strategy irrespective of prospects) Second camp of Kestrel and Gartmore have bought in while distressed and both recently so doubt their investment case would have changed that much since. I suspect Kestrel have been adding, or a new fund as Gartmore have too much and would trigger a takeover offer. According to sharepirce.co.uk, every single trade today was at 13.5p...not sure what that means but there is clearly a buyer and a seller with an agreement at this price |
Posted at 10/6/2011 13:35 by holly_dog the_doctor - no question that it is 90 days rather than 90 working days and an announcement should come soon. I sent this to David Blain 'I was wondering if you could provide any guidance on the date from which the consultation period finishes, thereby allowing you to provide investors with an update? I had estimated that given you announced the consultation period on the 3rd of March, 90 days from that equates to the 1st of June, is this correct? If so would it be fair to say an update should be imminent?' 'In our interim results announced on 26 May 2011 we confirmed that we will update shareholders with our plans following the completion of the statutory consultation period. We also said that the consultation period ends in early June. So you are right to expect an announcement soon. We have not been specific on the date of the update but it will be issued in due course. Sorry I can't be more help.' I think it seems they may drag out other trials, but could still sell Juvidex and other IP to generate some value, as well as value of listed vehicle and cash. As you say, very low risk at this price |
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