We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for streaming realtime charts, analysis tools, and prices.
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Rpc Group Plc | RPC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 792.60 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 792.60 |
| Top Posts |
|---|
Posted at 18/8/2019 20:01 by bouleversee I also put some of my RPC proceeds into SMDS (down nearly l5% at the moment and I don't think the dividend I captured amounted to that much) and RIO , also down and Morgan Sindall (breaking even). Debating whether to top up SMDS.FWIW psn1, I topped up my Polymetal holding on May 1, 2018 at 714,49 and they are now 1084,50 and I hear gold funds are doing well but unless you are prepared to watch like a hawk you would probably do better with a plodder. As things are at present, it's all even more of a gamble than usual. I see Questor in the Sunday Telegraph is recommending Unilever as a buy, having rated them as a sell in Jan. 2018, since when it has gone up nearly 20%. LOL. Conclusion: you probably have just as good idea as to what to buy as anyone else, including the analysts and financial journalists. Just keep on the right side of Lady Luck. |
Posted at 25/4/2019 23:19 by jeffian That's not going to happen!"If any dividend and/or other form of capital return or distribution is announced, declared, made or paid by RPC in respect of RPC Shares prior to the Effective Date, the Consideration payable in respect of each RPC Share under the Acquisition will be reduced by the amount of all or part of any such dividend and/or other form of capital return or distribution (although RPC Shareholders will be entitled to receive and retain that dividend (or other distribution))." |
Posted at 02/4/2019 18:44 by billywhizz1 Hope this announcememt extract helps:If any dividend and/or other form of capital return or distribution is announced, declared, made or paid by RPC in respect of RPC Shares on or after the date of this Announcement and prior to the Effective Date, the Consideration payable in respect of each RPC Share under the Acquisition will be reduced by the gross amount of all or part of any such dividend and/or other form of capital return or distribution. |
Posted at 20/3/2019 09:38 by bouleversee redartbemud left out the following which was included in the statement:"On 23 January 2019, in connection with the final cash offer for RPC by Rome UK Bidco Limited ("Rome Bidco"), Rome Bidco received irrevocable undertakings from each of Pim and Simon in respect of the shares held by them (and their close relatives) to vote (or to use their reasonable endeavours to procure votes) in favour of Rome Bidco's offer and not to sell or transfer any RPC shares held by them (the "Irrevocable Undertakings"). On 19 March 2019, Rome Bidco agreed to release 240,000 RPC shares beneficially held by Pim and 65,000 RPC shares beneficially held by Simon from the Irrevocable Undertakings. The Irrevocable Undertakings continue to apply in respect of 200,000 retained RPC shares beneficially held by Pim, 28,151 retained RPC shares beneficially held by Simon and all the RPC shares held by Simon's close relatives listed in his Irrevocable Undertaking. For the purposes of Rule 2.10(c) of the Code, Rome Bidco has consented to the release of this announcement." Berry must be very confident of getting a yes vote and that nobody else is on the horizon with a better offer. However, the share price is now below the offer price so what is going on here? What took the price up first thing today? |
Posted at 20/3/2019 08:40 by redartbmud RPC Group plc ("RPC") has been notified by Pim Vervaat, Chief Executive Officer, that he intends on or after 21 March 2019 to sell 240,000 ordinary shares in the capital of RPC. Pim intends to use part of the proceeds of the sale to satisfy payment of capital gains tax in the Netherlands, to possibly finance a residential property purchase and to diversify his portfolio exposure. Following the share sale, Pim will retain 200,000 RPC shares.RPC has also been notified by Simon Kesterton, Group Finance Director, that he intends on or after 21 March 2019 to sell 65,000 ordinary shares in the capital of RPC. Simon intends to use the proceeds to diversify his portfolio exposure and to pay down debt. Following the share sale, Simon (when taken together with his close relatives) will retain 110,592 RPC shares. Big vote of confidence for the Company and the Berry deal:-( What a load of cobblers, as reasons for the sales. |
Posted at 19/2/2019 08:20 by crowdie RPC Group announces publication and posting of Scheme DocumentTuesday, February 19, 2019 07:18:05 AM (GMT) • On 23-Jan, the boards of RPC Group and Rome UK Bidco Limited announced that they had reached agreement on the terms of a recommended cash acquisition by the Bidder of RPC's entire issued and to be issued ordinary share capital , to be effected by way of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 • RPC announces that a circular containing, amongst other things, a letter from the Chairman of RPC, the full terms and conditions of the Scheme, a statutory explanatory statement, an expected timetable of principal events, notices of the Court Meeting and General Meeting and details of the action to be taken by RPC Shareholders, together with the related Forms of Proxy, is being published and sent today to RPC Shareholders |
Posted at 12/2/2019 20:05 by sogoesit From BearBull in the IC:Title: Ignoring Apollo. “When a master of the universe speaks, you listen. It’s not just that the New York-based private-equity firm Apollo Global (US:APO) names itself after Greek mythology’s most important god; it’s more that the $250bn (£192bn) fund manager was founded by a real ‘master of the universe’ – Leon Black, a legendary figure in the US finance industry, although certainly not a mythical one, who was the right hand of Michael Milken, the 1980s junk-bond king. While Mr Milken ended up in prison, Mr Black founded Apollo and became even more fabulously wealthy than his one-time mentor. Thus Apollo spake unto the directors of the UK’s second-biggest packaging group, RPC (RPC), who were keen to sell their company. Apollo said it would make a distinctly low-ball offer – 782p a share in cash; but they had better take it or leave it because it was the only one the firm would make. RPC’s directors gave a breathless “oh yes, please” and recommended Apollo’s offer. This has hacked off some of RPC’s institutional shareholders because the offer does look pretty unexciting. However, there is now a second suitor talking to the maker of stuff such as bottles for Heinz tomato ketchup and tins for Dulux paints – Berry Global (US:BERY), a packaging group floated by Apollo in 2012 and in which it still has a stake. The background is the directors’ conviction that RPC must grow by acquisition. And the clear inference in their unconvincing recommendation of Apollo’s offer is that they feel that listed status shackles the group. Or, as they put it, “differing investor views on the appropriate level of leverage have been a constraint on RPC’s opportunities and growth”. Without a counterfactual, we can never know, yet that statement does not readily tally with the facts. These past five years RPC has binged on acquisitions. It’s hard to imagine that its bosses could have done more without biting off more than they could chew. Spending on acquisitions has dwarfed any other category of capital allocation, especially its internal equivalent, growth by capital spending. In the five years to 2013-18, capex totalled a bit more than depreciation – £680m against £574m – but that compares with almost £2.1bn cash spent on acquisitions. Meanwhile, almost all the funds for this growth were sourced externally. Cumulatively, RPC generated free cash of just £327m in that period while it raised just over £2bn in almost equal amounts of debt and equity. Clearly, this leveraging has had the desired effect on performance. RPC has become a more productive beast – in 2017-18, gross profits per employee were 13 per cent higher than five years earlier even though employee numbers had more than tripled. In the same period, revenues rose by the same proportion while pre-tax profits quintupled to £317m and basic earnings quadrupled to 62p. Even the dividend, whose movements should be comparatively staid yet reliable, doubled to 28p. True, free cash – arguably the best long-term measure of profitability – is lagging. It came in at 35p per share in 2017-18, barely more than half the accounting earnings figure. It is feasible to ascribe that to RPC’s acquisition-driven growth, sucking working capital, interest and cash taxes out of the group. Yet even free cash has been moving strongly in the right direction. In increments of approaching £50m a year, it went from nothing to £145m in the three years to 2017-18. Besides, there is nothing wrong with RPC’s basic aim of growing by acquisition. On the contrary, in a low-growth industry such as packaging, where fixed costs are high and economies of scale especially powerful, it seems the one to pursue. So why do RPC’s bosses seem so miffed? Quite likely because the share price has responded indifferently to their efforts. At its current 793p, it is 26 per cent lower than its peak two years ago. That said, it is still 50 per cent higher than it was five years ago, which compares with a gain of just 11 per cent from the FTSE All-Share index. Not surprisingly, they see the solution in the arms of private equity where they can run RPC “without the costs, constraints and distractions associated with being a listed company”, as they say in the offer document. And there is the point – which somehow doesn’t get mentioned in the document – that they may well have the prospect of making even more moolah with RPC being private-equity owned than as a listed company. Yet this brings little benefit to the people who currently employ them – RPC’s shareholders. All that Apollo’s bid offers them is a miserly 14 per cent uplift on the share price immediately before the directors announced they were in bid talks last September and an exit earnings multiple way below the average of RPC’s global peer group – 10.7 times forecast earnings against 14 times. True, the arrival of Berry Global may improve the exit returns, but don’t expect a bidding war – as Apollo’s offer is final it can’t be raised without special permission from the Takeover Panel. In which case, RPC’s shareholders may have to make the best of a bad job. That would mean persuading New-York-listed Berry Global to include an equity component in any offer it makes, which would allow them to share in the future gains accruing from RPC’s acquisition strategy. Failing that, they should tell RPC’s bosses to stop whingeing, get on with the good work and don’t listen to masters of the universe.“ |
Posted at 07/2/2019 15:04 by billywhizz1 Just by way of further explanation that persuaded me to take the gamble.I spotted that acceptance support for Apollo’s bid was rapidly falling and on the premise that others may now follow this growing trend, I decided to take the risk Some of the larger pension companies like Royal London (1.34% holding), have publicly stated that they would support a Berry bid, and would vote against the Apollo deal. Also, Eminence are in the process of to tanking their ‘letter of intent support’ to Apollo.At the end of January, RPC agreed terms with Apollo Global for a £3.32 billion cash offer for the company. As I say, Apollo previously this letter of intent from Eminence, (one of the main shareholder’s of RPC) to vote in favour of the acquisition in respect of a total of 3.0 million RPC shares. At the beginning of February, Eminence informed Apollo it had sold 726,169 shares. Since then Eminence has sold another 1.1 million RPC shares. Therefore, Apollo's letter of intent from Eminence now remains valid for a total of 1.1 million RPC shares, or 0.3% of RPC's share capital. Big drop aye. However, no matter hope I dress it up, it’s still a gamble and probably a 'Mad One' at that. |
Posted at 01/2/2019 10:53 by whatsyourgame Another interesting piece with some sound advice from Alistair Osborne in today's "Times":"Doing over your former owner is always a laugh. And where better than at RPC? After four months of talks, the plastics maker has rolled over and recommended a 782p-a-share bid from private equity outfit Apollo. And at a skinny premium to boot, only 15.6 per cent, including the interim dividend (report, page 45). Indeed, when RPC chairman Jamie Pike bobbed up with the £3.3 billion deal nine days ago, the verdict was pretty unanimous. As Numis Securities put it: it was a “low” price but “we do not expect competing bids”. Well, now look what’s happened. Berry Global has turned up late to the party, with the news that it is considering a possible offer in cash for RPC; enough to send the shares up 4 per cent to 795p. Who’s Berry? The US plastics outfit — owned for eight years by Apollo. In fact, Apollo was key to building Berry, investing $550 million in 2006, floating it in 2012 and making 3.5 times its money by the time it sold out. The links to Berry continue to this day: its ex-boss Jonathan Rich has been advising Apollo on its offer for RPC. And now Berry’s gatecrashing its bid. How’s that for gratitude? It gets worse because Apollo made its offer “final”. So, unless it finds a miracle way out, it’ll have to sit and watch, powerless to intervene, even if Berry offers a mere 1p a share more. Two RPC shareholders, Aviva Investors and Royal London, had already declared Apollo’s offer too low-ball. So it was no shock to hear Royal London’s Craig Yeaman declare that a putative new bidder “vindicates investor caution”. As he put it: “Apollo were always going to run this risk”, given the bid price. Neither does it reflect brilliantly on the RPC board. Yes, they had an auction — a process that saw rival bidder Bain Capital drop out. And RPC’s five financial advisers tried months ago to lure Berry. But it still doesn’t say much for the directors’ faith in their own skills that they recommended a bid at a 26 per cent discount to peer group valuations. Even so, there’s a long way to go. Who knows if Berry’s just on an opportunistic fishing expedition to get info on rival RPC — always a possibility when the chairman’s a Pike. Or if it’s really serious, cleverly waiting until the buyout house with the best knowledge of the sector, Apollo, had found no hidden nasties at RPC: a sort of due-diligence by proxy. Pouncing when Apollo can’t hit back looks doubly smart. Yet, Berry’s still got to go through both RPC’s books and its 32 sub-divisions. And its investors already seem lukewarm, with its shares falling 2.9 per cent to close at $49.25 in New York. Berry has little business in Europe, too — a boon for regulatory clearance but a possible bar to wringing out those £150 million-plus synergies on JP Morgan Cazenove estimates. Financing a deal looks tricky, too, with Berry almost four times geared. Deliverability must be an issue. So Apollo, which insists it’s paying a full price, may yet win. With RPC shares above the offer price, selling a few now would hedge against that." Fair enough as far as it goes, but Mr Obsorne seems to ignore the very real possibility that PRC may simply decide that Apollo's offer is too mean and choose instead to simply reject it. After all, the level of acceptances so far ar pitifully small |
Posted at 23/1/2019 14:39 by jeffian This is the Hargreaves Lansdown comment (for what it's worth!) -"US private equity group Apollo Asset Management, has made a final bid for RPC of 782p per share. RPC shareholders will also be entitled to the 8.1p dividend due to be paid on 25 January. The deal values RPC at £3.3bn - a 15.6% premium to the offer price the day before a potential deal became public. The RPC board has recommended the offer, which is still subject to approval by RPC shareholders and regulators. The shares rose 4.9% in early trading to 770p. Our view It's taken a while, but Apollo has finally made a firm bid for RPC - one of the worlds' largest manufacturers of plastic packaging. The offer is some way below what analysts had suggested was plausible, meaning it's not impossible for a rival bidder to emerge. Another packaging group would probably be the leading candidate -thanks to the potential for cost savings, and a deal that could be part funded by the issue of new shares. However, with plastic packaging far from popular and with the global economy looking rocky, it might be asking a bit much to expect a rival to fork out the best part of £4bn to keep RPC out of private equity hands. It's a potentially disappointing result for investors - a 15.6% premium is hardly over generous and the shares have traded higher in the last 12 months. But with board backing and minimal regulatory concerns, we'd expect the deal to go through." |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
