Upstream Share Discussion Threads

[master rsi] 19/6/2025 13:31:49

UPS

GGP 15.90p ( 15.80 v 16p )

Has come down close to the placing/open offer 15.80p, so time to take into the UPS. The mine plan targeting 258,000 ounces of gold equivalent per year over a 20-year mine life, starting in 2027"
--------------- Intraday ----------------------------------- 2 months --------------------------------------- 1 year ---------------
INDICATORS

[master rsi] 19/6/2025 13:12:08

MARKET REPORT
LONDON MARKET MIDDAY: Stocks red, Bank of England votes for rate hold

(Alliance News) - London stocks were mostly lower at midday on Thursday, after the Bank of England left its key rates unchanged at 4.25%. However, three Monetary Policy Committee members voted for a 25 basis point cut.

The FTSE 100 index was down 18.56 points, 0.2%, at 8,824.91. The FTSE 250 was down 121.26 points, 0.6%, at 21,169.00, and the AIM All-Share was down 1.90 points, 0.3%, at 761.46.

The Cboe UK 100 was down 0.3% at 879.17, and the Cboe UK 250 was down 0.6% at 18,694.69. But the Cboe Small Companies was up 0.6% at 17,024.47.

"Central banks are in a 'wait and see' mood with regards to interest rates, despite broad concerns about a weaker economic outlook," AJ Bell's Russ Mould said ahead of the BoE rate call and noting that no change was widely expected. "This [hold] won't be a shock to markets as it's too early to assess the true impact of tariffs and their economic impact...Markets have plenty of other things to focus on, namely the Middle East conflict which shows no sign of easing."

On the FTSE 100, Whitbread lost 1.0%.

The Bedfordshire, England-based Premier Inn and Brewers Fayre owner reported that total UK sales were down 5.4% to GBP648.2 million and revenue per available room fell 2.4% to GBP62. In Germany, total sales rose 16% to GBP62.7 million.

""How much does it matter if you're doing better than the wider market and still struggling? That's the question in front of the market as Whitbread updates on its first-quarter trading," Mould said, noting "the weak backdrop for the UK hotels market as a whole amid an uncertain economic backdrop".

Mould continued: "With visibility limited, all the company can do is control what it can and hope that it comes out of this difficult period with its competitive position enhanced thanks to weaker players and independent operators falling by the wayside...Investors will be pleased about the progress being made in Germany, where its operations are enjoying strong growth, albeit from a lower base than in the UK, and where it remains on track to achieve a maiden profit in 2026."

On the FTSE 250 Syncona continued to lead, up 4.0%, while NCC was the worst performer with a 12% fall.

The Manchester, England-based cybersecurity company reported pretax profit of GBP16.6 million for the six months that ended March 31, up from GBP8.4 million a year earlier.

However, revenue fell 6.0% to GBP156.8 million, led by its Cyber Security division, where revenue fell 7.8% to GBP123.5 million. NCC noted a decline in higher-volume, lower-value testing and compliance engagement, owing to client reactions to economic uncertainties in autumn and spring.

On AIM, Quantum Blockchain soared 60%.

The London-based, blockchain sector-focused investor said it is in talks with two unnamed firms over the potential use of its Bitcoin mining technology, and is in talks with two chip manufacturers to use its Method C software.

Speaking of AIM, the head of London's junior stock market has called on the government to help halt an exodus of companies listed in the City, PA reported.

Marcus Stuttard, head of AIM and UK primary markets at the London Stock Exchange, urged the government to reinstate "financial incentives" for AIM investors after last autumn's budget revealed plans to slash inheritance tax relief on AIM-listed stock from 100% to 50% from April next year.

AIM has suffered a raft of firms quitting the market in recent years as part of a wider shift away from London towards overseas rivals and as firms are bought out by foreign competitors or taken private.

On AQSE, Smarter Web jumped 16%.

The Surrey, England-based web design provider has purchased an additional 104.28 Bitcoin at an average price of GBP77,751 for a total of GBP8.1 million each as part of its ongoing treasury policy of acquiring Bitcoin under its 10-year plan.

Smarter Web now holds 346.63 Bitcoin in total, worth GBP27.2 million.

In European equities on Thursday the CAC 40 in Paris was down 0.6%, while the DAX 40 in Frankfurt was down 0.3%.

The eurozone returned to both monthly and annual construction output growth as Spain's construction industry booms, Eurostat data showed.

Construction output climbed 3.0% on-year in April, after a fall of 1.3% in March. The sharpest annual growth was in Spain with 15%, followed by Belgium with 6.6%.

On a monthly basis, construction output rose 1.7% in April, following a decline of 0.2% in March.

Meanwhile, Norway's central bank announced a surprise interest rate cut.

Norges Bank lowered its policy rate by a quarter point to 4.25% and said it could make another cut this year "if the economy evolves broadly as currently projected".

"The inflation outlook for the coming year indicates lower inflation than previously expected," said Governor Ida Wolden Bache. "A cautious normalisation of the policy rate will pave the way for inflation to return to target without restricting the economy more than necessary."

The pound was quoted at USD1.3435 at midday on Thursday in London, lower compared to USD1.3472 at the equities close on Wednesday. The euro stood at USD1.1474, lower against USD1.1526. Against the yen, the dollar was trading higher at JPY145.52 compared to JPY144.65.

In the US, financial markets are closed on Thursday to mark Juneteenth National Independence Day.

Brent oil was quoted higher at USD77.16 a barrel at midday in London on Thursday from USD75.06 late on Wednesday.

"Oil prices have shot up in recent days and any disruptions to Middle East supplies could put them even higher and stoke inflation," AJ Bell's Mould said. "Remember that central banks fight inflation by putting up interest rates, not cutting them, which muddies the water in terms of trying to second guess what will happen next to borrowing costs.

"Rates staying higher for longer is bad news for investors and so the more intense the Middle East conflict gets, the greater the potential for increased market volatility."

Gold was quoted lower at USD3,376.42 an ounce against USD3,387.84.

[master rsi] 19/6/2025 12:34:25

BoE leaves rates unmoved but vote split more divided than expected

(Alliance News) - The Bank of England left interest rates unmoved on Thursday, though the vote split had a more dovish tilt than expected.

The BoE left bank rate unmoved at 4.25% on Thursday, as expected. According to the central bank, six policymakers, Governor Andrew Bailey included, backed the move.

Three would have preferred a 25 basis point cut to 4.00%, namely Swati Dhingra, Dave Ramsden and Alan Taylor.

"There has been substantial disinflation over the past two years, as previous external shocks have receded, and as the restrictive stance of monetary policy has curbed second-round effects and stabilised longer-term inflation expectations.

"This has allowed the MPC to withdraw gradually some degree of policy restraint, while maintaining bank rate in restrictive territory so as to continue to squeeze out existing or emerging persistent inflationary pressures," the BoE said.

The BoE said there are "two-sided risks to inflation". It once again affirmed a "gradual and careful approach to the further withdrawal of monetary policy restraint remains appropriate".

Numbers on Wednesday showed UK consumer prices index rose by 3.4% in May from a year before, slowing from annual growth of 3.5% that was reported for April. The May inflation figure was in line with FXStreet consensus.

[master rsi] 19/6/2025 12:22:11

How the UPS are performing during last month

[master rsi] 19/6/2025 12:09:12

How the UPS are performing today

[master rsi] 19/6/2025 10:45:45

LONDON BROKER RATINGS: Kepler says 'hold' Bunzl, 'buy' Diploma

FTSE 100

Kepler Cheuvreux starts Bunzl with 'hold' - price target 2,230 pence

Kepler Cheuvreux starts Diploma with 'buy' - price target 5,350 pence

UBS raises Aviva price target to 700 (670) pence - 'buy'

UBS raises J Sainsbury price target to 306 (279) pence - 'buy'

FTSE 250

Bank of America initiates Rathbones with 'buy' - target 2,250 pence

Berenberg raises Morgan Sindall price target to 5,000 (4,500) pence - 'buy'

RBC cuts Breedon price target to 575 (625) pence - 'outperform'

JPMorgan raises Johnson Matthey price target to 1,860 (1,600) pence - 'neutral'

SMALL CAP

Berenberg starts Stelrad with 'buy' - price target 200 pence

Berenberg starts M&C Saatchi with 'buy' - price target 240 pence

JPMorgan cuts Synthomer price target to 200 (245) pence - 'neutral'

[master rsi] 19/6/2025 08:40:29

KKR gets European Commission clearance for Assura takeover offer

(Alliance News) - Kohlberg Kravis Robert & Co Inc on Thursday said it has received clearance from the European Commission to acquire Assura PLC.

The US private equity firm leads a consortium, called Sana Bidco Ltd, that also includes property investor Stonepeak Partners LP, both New York-based.

KKR said the only regulatory condition to the Assura takeover offer that remains outstanding is foreign direct investment clearance in Ireland.

The consortium offer remains subject to the satisfaction of the remaining conditions, private equity firm said.

On Wednesday last week, Assura accepted the offer from Sana Bidco.

Approval from the European Commission comes days after Primary Health Properties PLC revised the terms of its own takeover offer for Assura. Assura said on Monday it was reviewing this revision.

The revised terms include the potential acceleration of Assura's third-quarter dividend without a corresponding reduction in the value of the PHP offer. PHP also lowered the acceptance condition for its offer to a threshold more than 50%, the same acceptance condition as the cash offer from the KKR group and down from 75% previously.

In May, PHP, a London-based healthcare facility investor, made a cash and shares bid for Assura. It offered 12.5 pence cash and 0.3769 of a new Primary Health share for each Assura share, valuing Assura at the time at 51.7p per share.

Primary Health Properties said on Friday last week it would ask its shareholders to vote on its takeover offer for Assura at a general meeting on July 1. It also said then Assura shareholders have up to August 12 to accept its offer.

Shares in Assura were down 0.2% to 50.04p in London on Thursday morning. Primary Health Properties was down 0.3% at 103.20p.

[master rsi] 19/6/2025 08:06:10

FTSE

31 points lower at the start of the day

[master rsi] 18/6/2025 23:57:24

SFOR

Cannes Lions Festival 2025 - Sir Martin Sorrell "Wer oder was ist Kreativität im Jahr 2025?" - June 18, 2025

In an era where artificial intelligence, automation, and data-driven marketing are rewriting the rules, the question of the value of creative work is fundamentally re-examined. How does creativity change when scale, precision, and speed become the decisive competitive advantage? And who or what is creative? Human? Machine, or both?

Sir Martin Sorrell, founder of WPP and now Executive Chairman of S4 Capital, discusses how technology is transforming the industry. With his model of the "new agency structure," he rethinks creative performance: integrated, digital-first, AI-supported. What does creative excellence look like when it has to be scalable? What happens to the price of ideas when processes are increasingly automated? A lecture on the economic, strategic, and technological value of creativity and how the agency model of the future will be defined.

[master rsi] 18/6/2025 23:18:56

Thursday preview: Bank of England, SNB, Norges Bank in focus
(Sharecast News) - The market spotlight on Thursday will be on the Bank of England.

Rate-setters in the UK are expected to stand pat on Bank Rate, keeping it at 4.25%.

However, economists at Bank of America believe that the vote on the Monetary Policy Committee might be more dovish than the last time around.

For his part, City analyst Michael Hewson said: "No changes in policy are expected from this week's meeting as policymakers digest this week's May inflation numbers as well as last week's wages and unemployment data, which saw the unemployment rate rise to a new 4-year high of 4.6%, while the UK economy saw a -0.3% contraction in April.

"Today's surge in oil prices, due to Israel's attack on Iran, will also complicate the inflation picture, if sustained, over the next few days."

On 7 May Bank announced a 25bp reduction, with five MPC members having supported the cut, but another two supported a larger reduction and a further two said the BoE should not lower rates.

Earlier during the same session, the Swiss National Bank is expected to lower rate by 25 basis points to 0.0%, while Norway's central bank is expected to keep them unchanged at 4.50%.

Thursday 19 December

FINALS

First Property Group, Syncona Limited NPV, Cordiant Digital Infrastructure Limited NPV, XPS Pensions Group

INTERIMS

LPA Group, NCC Group

AGMs

International Consolidated Airlines Group SA (CDI), Angling Direct, Partners Group Private Equity Limited. (EUR), Novacyt S.A. (CDI), Clean Power Hydrogen, ASA International Group, Aterian, Baillie Gifford China Growth Trust, Aquila European Renewables (GBP), Star Energy Group, Pantheon Infrastructure, Octopus Titan VCT, Aurrigo International, Futura Medical, Informa, Anpario, Xeros Technology Group, Everyman Media Group, ICG-Longbow Senior Secured UK Property Debt Investments Ltd, Frenkel Topping Group, Maven Renovar Vct, Card Factory, Tortilla Mexican Grill

GMs

Fidelity Japan Trust, Honye Financial Services Limited (DI)

FINAL EX-DIVIDEND DATE

Anglo-Eastern Plantations, GB Group, Animalcare Group, Tatton Asset Management, Advanced Medical Solutions Group, VP, NewRiver REIT, Airtel Africa, Maven Income & Growth VCT, Fidelity China Special Situations, Canal+ S.A (CDI), 3i Group, Concurrent Technologies, United Utilities Group, Baillie Gifford China Growth Trust, British Land Company, TotalEnergies SE, Inspired, Persimmon, Mears Group, Vianet Group, Tate & Lyle, Mitie Group

FINAL DIVIDEND PAYMENT DATE

M. P. Evans Group, Gamma Communications, Yu Group, RELX plc

INTERIM EX-DIVIDEND DATE

Compass Group, Barings Emerging Emea Opportunities, Schroder Real Estate Investment Trust Ltd, Diverse Income Trust (The), Gooch & Housego

TwentyFour Select Monthly Income Fund Limited, Experian, VPC Specialty Lending Investments

INTERIM DIVIDEND PAYMENT DATE

Fidelity Special Values, Scottish American Inv Company

SPECIAL EX-DIVIDEND DATE

Fidelity China Special Situations

QUARTERLY EX-DIVIDEND DATE

Patria Private Equity Trust

[master rsi] 18/6/2025 22:30:59

NatWest rules itself out of race for Sabadell's TSB - FT

(Alliance News) - NatWest Group PLC has ruled itself out of bidding for UK high-street bank TSB Banking Group PLC, the Financial Times reported on Wednesday.

The formerly state-owned bank has decided not to pursue an acquisition of the Banco de Sabadell SA owned retail lender, and is not actively bidding for it, according to FT sources.

On Tuesday, Sabadell, the Catalonia-based lender, said it had received "preliminary non-binding expressions of interest" for TSB from unnamed bidders, and will assess any potential binding offer.

"Any transaction would be subject to the satisfaction of all legal obligations," the bank added.

Sabadell acquired TSB from Lloyds Banking Group PLC for GBP1.7 billion in 2015. At the time, the lender wanted to expand outside Spain.

However, the bank, founded in 1881, has been locked in a prolonged takeover battle with Banco Bilbao Vizcaya Argentaria SA for more than a year, casting uncertainty over TSB’s future.

Other potential bidders for TSB include Barclays PLC, the UK arm of Banco Santander SA and HSBC Holdings PLC.

Earlier on Wednesday, Sky News said Santander has approached its fellow Spanish banking group about a takeover of TSB.

But Sky sources said Santander had not tabled a formal offer for TSB, and was not certain to do so.

Shares in NatWest closed up 0.8% at 522.00 pence each in London.

[master rsi] 18/6/2025 22:09:37

LST 3.60p = / Light Science Technologies achieves milestone as Injectaclad passes 50-year test /18 Jun 2025 12:10
- Light Science Technologies Holdings PLC (AIM:LST) CEO Simon Deacon talked with Proactive's Stephen about a major development for the company’s fire safety division, following rigorous testing of its Injectaclad product. Deacon confirmed that Injectaclad has now achieved a 50-year lifespan certification, doubling its previous 25-year rating. This milestone, he said, was to ASTM F1980 standards and offers significant appeal to fire officers, architects, and building owners evaluating long-term remediation solutions.

"This really gives it the longevity everybody's looking for in our product," Deacon stated. Compared to competitors offering 15- to 20-year solutions, Injectaclad’s certification aligns more closely with the lifecycle of building materials in tall structures.

Deacon highlighted the scale of the market opportunity, pointing to over 44,000 buildings in the UK requiring remedial fire safety work, representing a sector potentially worth £50 billion. He noted that government legislation, while moving slower than expected, supports a long-term growth trajectory. “We see a sort of a hockey stick type growth in this industry,” he said.

On scalability, he emphasised Injectaclad’s easier and more cost-effective installation process versus traditional facade removal. He also revealed plans to expand the Passive Fire Protection (PFP) division by acquiring more pumps and developing an early warning system for fires starting within cavities—particularly crucial for high-rise safety.

Visit Proactive's YouTube channel for more videos, and don't forget to give the video a like, subscribe to the channel and enable notifications for future content.

[master rsi] 18/6/2025 21:37:07

MARKET REPORT
LONDON MARKET CLOSE: FTSE 100 nudges up ahead of Fed after in line CPI

(Alliance News) - London's FTSE 100 posted modest gains on Wednesday amid ongoing Middle East tensions, as investors weighed broadly in line UK inflation data ahead of rate calls on either side of the pond.

The FTSE 100 index closed up 9.44 points, 0.1%, at 8,843.47. The FTSE 250 ended 53.21 points higher, 0.3%, at 21,290.26, and the AIM All-Share rose 2.71 points, 0.4%, at 763.36.

The Cboe UK 100 closed up 0.1% at 881.41, the Cboe UK 250 ended 0.2% higher at 18,806.60, but the Cboe Small Companies declined 0.4% at 16,918.47.

The oil price fluctuated, with the Israel-Iran conflict entering its sixth day, as Iran's supreme leader, Ayatollah Ali Khamenei, rejected US President Donald Trump's call for an "unconditional surrender".

Brent oil traded lower at USD75.06 a barrel late on Wednesday from USD75.45 on Tuesday. It had earlier traded above USD77.00 per barrel.

Khamenei warned of "irreparable damage" if the US launches military action against Iran.

Of particular concern to markets is the possibility of Iran shutting off the Strait of Hormuz, through which around one fifth of global oil supply is transported.

Trump said he was considering whether the US will join Israeli strikes on Iran and said that Tehran had reached out to seek negotiations on ending the conflict.

"I may do it, I may not do it. I mean, nobody knows what I'm going to do," Trump told reporters when asked if he had decided whether to launch US air strikes.

"I can tell you this, that Iran's got a lot of trouble, and they want to negotiate."

In European equities on Wednesday, the CAC 40 in Paris closed down 0.3%, while the DAX 40 in Frankfurt gave up 0.5%.

Stocks in New York were green across the board at the time of the London close. The Dow Jones Industrial Average was up 0.5%, as was the S&P 500 and Nasdaq Composite.

The Federal Reserve announces its interest rate decision at 1900 BST.

According to the CME FedWatch Tool, it is near-certain that the Fed will maintain rates at the 4.25%-4.50% range this week. The Fed held in each of the first three meetings this year. Its last cut was in December, a 25 basis point trim to the federal funds rate range.

Ahead of that, figures showed seasonally adjusted initial jobless claims stood at 245,000 in the week that ended June 14, down by 5,000 from 250,000 a week earlier, which was revised up from 248,000. The most recent figure was in line with the FXStreet-cited consensus.

The four-week moving average of initial claims, which smooths weekly volatility, increased by 4,750 to 245,500.

Michael Pearce at Oxford Economics said both initial and continuing unemployment claims are "trending higher, consistent with a gradual softening in labor market conditions."

"Even so, with inflation risks looming, we do not think the economy is weakening by enough to force the Federal Reserve into rate cuts in the coming months."

In the UK, the Bank of England's Monetary Policy Committee announces its rate call at 1200 BST on Thursday. It too is expected to back the status quo, with interest rates staying unchanged at 4.25%.

Inflation figures on Wednesday provided food for thought for the BoE ahead of the decision.

The consumer prices index rose by 3.4% in May from a year before, slowing from annual growth of 3.5% in April. The May inflation figure was in line with FXStreet consensus.

Consumer prices rose 0.2% on a monthly basis in May, slowing from 1.2% in April and in line with FXStreet-cited market consensus.

Earlier in June the ONS reported that the UK's headline inflation figure was 0.1 percentage point too high for April due to an error in the vehicle tax data collected. As is standard practice, the April figure has not been revised, the ONS explained.

Excluding this adjustment, the headline rate of inflation would have been unchanged in May from April.

Core CPI, which excludes energy, food, alcohol and tobacco, eased to 3.5% on an annual basis in May, against the prior month's 3.8% figure and below the consensus estimate of 3.6% growth.

Growth in closely watched services inflation decelerated to 4.7% in the 12 months to May from 5.4% in April, and was below 4.8% consensus.

Barclays thinks the MPC will "take comfort" from progress on underlying services measures, especially given that these now encompass two months after the increase in firms' costs via the National Living Wage and National Insurance changes, made in the UK government's autumn budget.

"However, high levels, combined with strong food inflation, will keep the MPC cautious around the outlook for inflation over the coming months. This will only be exacerbated by recent moves in commodity prices," it said.

"Taken together, we continue to expect the MPC to be on a quarterly rate cutting path from here until it reaches 3.5% in February next year," the broker added.

Final figures in Europe from Eurostat showed annual inflation in the euro area cooled to 1.9% in May, dipping below the European Central Bank's 2% target for the first time in over three years.

The May rate of consumer price inflation slowed from 2.2% in April and marked a significant cooling from 2.6% a year earlier. The final reading confirmed a flash estimate released at the beginning of this month.

The pound was quoted down at USD1.3472 at the time of the London equities close on Wednesday, compared to USD1.3502 on Tuesday. The euro stood a touch higher at USD1.1526 against USD1.1522. Against the yen, the dollar was trading at JPY144.65, down compared to JPY145.07.

The yield on the US 10-year Treasury was quoted at 4.36%, narrowed from 4.42%. The yield on the US 30-year Treasury was quoted at 4.86%, trimmed from 4.93%.

On the FTSE 100 Melrose rose 2.6% as positive musings emerged from the Paris Air Show.

RBC Capital Markets reiterated an 'outperform' rating after what it termed a "supportive meeting" with Melrose management who continue to see attractive growth opportunities in defence markets amongst others.

Whitbread firmed 0.4% ahead of Thursday's trading statement, but Howden Joinery fell 3.0% as Citi said it expects first-half performance to be "somewhat underwhelming" limiting the scope for upgrades.

"We add a negative short term view on the stock as we think the underlying demand softness near term may dampen investor sentiment," the broker said.

On the FTSE 250, Rathbones Group climbed 5.2% as Bank of America slapped a 'buy' rating on the London-based investment firm and wealth manager.

"We think the current valuation does not price in the transformational acquisition of IW&I," BofA said, calling Rathbones "highly undervalued".

Gold was quoted higher at USD3,387.84 an ounce against USD3,381.51.

The biggest risers on the FTSE 100 were Melrose Industries, up 12.40 pence at 486.60p, IAG, up 6.80p at 319.80p, Aviva, up 11.80p at 616.40p, Entain, up 16.00p at 853.60p, and Intermediate Capital Group, up 34.00p at 1,971.00p.

The biggest fallers on the FTSE 100 were Howden Joinery, down 26.50p at 848.50p, Ashtead Group, down 99.00p at 4,465.00p, GSK, down 31.00p at 1,449.00p, WPP, down 9.60p at 521.60p and Compass Group, down 45.00p at 2,501.00p.

Thursday's global economic calendar has interest rate decisions in the UK, Switzerland and Norway, plus Australian jobs data.

The domestic corporate calendar on Thursday has a trading statement from Premier Inn owner Whitbread.

US financial markets are closed for Juneteenth National Independence Day.

[master rsi] 18/6/2025 21:20:13

DOW

AFTER BEING ALMOST ALL DAY UP
IT FINISHED 44 POINTS DOWN

[master rsi] 18/6/2025 16:50:51

How the UPS are performing during last month

[master rsi] 18/6/2025 16:24:55

How the UPS are performing today

[master rsi] 18/6/2025 16:05:45

SFOR

The ups and downs of the stock in the space of a couple of days.

It looks like the down is over 24.70 v 24.90p, and now it's time to move up again

[master rsi] 18/6/2025 15:11:27

Buckthorn Partners, One Equity abandon pursuit of Renold

(Sharecast News) - A consortium of private equity firms Buckthorn Partners and One Equity said on Wednesday that they were not planning to make a firm offer for AIM-listed industrial chain maker Renold.

The company announced last Friday that it had agreed to be bought by MPE - the owner of Webster Industries - in a £186.7m deal. The price of 82p per share in cash represents a 50% premium to the closing share price of Renold on 19 May, which was the last business day prior to the start of the offer period.

Renold chairman David Landless said at the time: "Renold is a leading designer, engineer, manufacturer and supplier of premium, high specification industrial chain and torque transmission products with a large number of international customers, across a broad range of industrial power transmission and conveyor system markets.

"The Renold board believes that the offer not only represents a significant premium and provides shareholders with the certainty of a cash consideration but also provides an opportunity to deliver on our strategy more quickly."

Renold announced in May that it had received two separate unsolicited proposals, one from the consortium and one from MPE.

The consortium's proposal at the time was 81p per share, while Webster's was 77p a share and each followed several previous proposals.

At 1505 BST, Renold shares were down 3.3% at 82p.

[master rsi] 18/6/2025 14:45:11

DOW

34 points UP at the start