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Summit Germany names Liberum joint corporate broker

16 January 2015 | Corporate Brokerships

German commercial real estate company Summit Germany Ltd (Ticker SMTG LN) has appointed Liberum as joint corporate broker, our 66th brokership. 

The AIM-listed company with a market capitalisation of €350m manages a diversified €600m German commercial property portfolio. Its 50-strong team seeks to identify value-added investment opportunities. 

Below: Rahmhof. Schillestrasse 5, Frankfurt

 Sf191 Rahmhof Shillestrasse 5 Frankfurt 2

It has been in the German commercial property market since 2004 and its investments are focused on multi-let commercial office, retail and logistics properties situated mainly in the country’s financial centres. It generates its income letting to commercial, governmental/public sector and industrial tenants. 

Summit Germany website: http://www.summitgermany.com/

The Liberum Team

Investment Banking: Chris Bowman and Jill Li

Sales: James Bouverat and Anastasia Mikhailova

Research: Rob Jones

Corporate Access: Regan Connor

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Emma Kane 
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Liberum named Joint Corporate Broker to 4imprint Group plc

12 January 2015 | Corporate Brokerships

4imprint (Ticker: FOUR LN), a £225m-market capitalised direct marketer of promotional products in the USA, Canada, the UK and Ireland, has named Liberum as Joint Corporate Broker.

It is the No.1 direct marketer in the North American promotional products market, with its direct marketing business headquartered in Oshkosh, Wisconsin, USA and with 96% of its revenue generated in the USA and Canada. The business serves UK and Irish customers out of its base in Manchester, England.

The business supplies an extensive range of customised promotional products to individual customers in a variety of businesses and organisations, using targeted direct mailing and a strong internet presence.

> 4imprint website

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Shortlisted in UK Stock Market Awards

09 January 2015 | Mentions of Liberum

(LONDON) THE initial public offering of GAME Digital plc in 2014, on which UK independent investment bank Liberum acted as joint bookrunner, is among the nominations for the 2015 UK Stock Market Awards. 

Liberum is broker to four companies on the shortlist: Workspace, Ted Baker, Manx Telecom and GAME Digital. 

It is also nominated as Best Adviser – Corporate Sponsors.

The nominations are made by the public and “is testament to the huge value that UK PLC brings to Britain”, according to Awards co-sponsor KPMG. 

Judges meet in February to chose the winners in 23 categories and the Awards take place on March 26 in London.

http://www.stockmarketawards.com/

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UK consumer is cautious yet upbeat in latest Liberum sentiment survey

10 December 2014 | Mentions of Liberum

In the face of job and tax worries and a softening housing market, 'cautious yet upbeat’ best captures the feedback in Liberum's latest UK consumer sentiment survey carried out through Oct/Nov.

Click on the image below to see a four-minute video from this year's City AM Analyst of the Year, Ian Whittaker, that puts the survey in context.

Singletrack Card Ian Whittaker Consumer Survey

Striking is the rising appetite for home improvements, house moves, flexible hours and overtime, with bonus expectations rebounding.

Polled before the sharpest falls in the price of oil, the British consumer also expects inflation to ease further and even appears less hostile to utilities.

> Click here for an infographic overview of the key findings

The sense of job security has slipped but expectations of more flexible hours, overtime and bonus payments have improved markedly. This underpins the improved mood toward disposable income and spending power.  The continued fall in the costs of essentials and fuel prices has helped.

The British consumer expected an interest rate rise within around eight months back in the summer. That’s now pushed out to more than nine months. More than a quarter of those polled expect it over a year hence, up from a fifth in the past two quarterly surveys.

It will come as no surprise to find that the most popular answer to the question on whom you would vote for as Prime Minister was "none of these". However as we approach the general elections we see this percentage decreasing.

Whilst David Cameron’s support increased, Boris Johnson's support inched back. Nigel Farage’s polls have increased in this quarter shortly followed by Ed Miliband. Similar to previous quarters’ trends Ed Miliband keeps double the vote of his brother, David.

The remaining votes were equally split in between Alex Salmond, Ed Balls, who both have gained share since the previous quarter and Nick Clegg.

The survey has been running since September 2009 and our index is derived through weightings applied to the net positive scores of the factors. Job security (20%), Mortgage Payment Outlook (15%), Tax Outlook (12%) and Housing (20%) are key factors which we place a greater weight on. The index has been on an upwards trajectory since October 2012, peaked in Q2 14 at 13.3% and eased since then to 9.9 %.

Methodology 1,005 respondents were asked their views in October/November 2014. The respondents were evenly distributed by gender (males: 49%, females: 51%), across age groups and throughout the social classes (A-B: 27%, C1-C2: 47% and D-E: 27%). 

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Media-land: structural risks everywhere

28 November 2014 | Mentions of Liberum

City AM Analyst of the Year 2014, Liberum's Ian Whittaker, explains in this six-minute video how structural risks in media are shaking up television, academic & educational publishing and advertising agencies. Click on the image below to see the video.

Non Investors Title Card

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UK energy policy: Atherton's 10 thoughts after 10 years

28 November 2014 | Mentions of Liberum

Liberum Utilities Analyst Peter Atherton will speak Monday at The Spectator Energy Forum where political leaders, investors, analysts and advisors involved in energy policy and business will meet to explore how to fix Britain’s energy market. Those wishing to attend can click on the image below to book tickets.

Capture (1)

Here's Peter's overview in advance of the event.

IN 2003 the EU, including the UK, decided to lead the world in decarbonising its economy in an attempt to combat climate change. To achieve this, the UK has adopted a radical energy policy that seeks to move from a power system that is today overwhelmingly based on fossil fuels, with some nuclear and a small amount of renewables, to one overwhelmingly based on renewables and nuclear power. 

What’s more this transformation is to be achieved by the year 2030 – a breakneck pace for an industry such as power generation.
 
The UK’s climate change-focused energy policy has now been in place for over a decade and there are 10 conclusions that can be drawn from the experience.

  1. UK/EU policy makers grossly underestimated the engineering, financial, and economic challenges posed by the drive to de-carbonise the electricity sector by 2030.
  2. Policy makers have failed to take into account the huge changes in the economic, commodity and financial environments since 2003 and adjust policy accordingly.
  3. The policy framework does not, and cannot, take proper account of security of supply and energy affordability.
  4. The gigantic £350bn investment needed by 2030 cannot be financed at a cost that the public is willing to bear.
  5. The policy requires the building of fundamentally uneconomic assets and therefore the government has had to intervene in the market in ever-more aggressive ways. Intervention has begotten intervention.
  6. It is now impossible for any power station to be built unless government underwrites the economics.
  7. The economic case for being in the vanguard of decarbonisation looks very poor and was based on two false premises, namely a) that fossil fuels prices would rise to unaffordable levels, b) being first mover would result in considerable industrial benefits. Both of these assertions have been found to be wrong so far.
  8. The worst effects of the policy lie in the future.
  9. A client state of rent seekers has been created by the over-€50bn per annum of largely renewable subsidy stream across the EU. The lobbying power of the rent seekers greatly outweighs that of the consumer, meaning that necessary policy corrections are not made.
  10. To deal with the affordability issue, either the policy needs to be restructured to lower costs, or the British public need to be convinced this is a price worth paying."

 © Liberum Capital Limited, 2014

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