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Liberum advises on Matchtech’s £58m recommended cash, share offer for Networkers International

28 January 2015 | Mentions of Liberum

Matchtech Group plc (Ticker: MTEC) announced today a £58m recommended cash and share offer for Networkers International plc (Ticker: NWKI).

Liberum is acting as Rule 3 Independent Adviser to Networkers International and is now its nominated adviser, or Nomad. 

Both companies operate in the professional staffing sector and the combined Group will be a leading specialist recruiter in engineering and technology markets in the UK and internationally. 

The offer of 34p in cash and 0.63256 Matchtech shares for each Networkers International share represents an implied premium of 22.5% to last night’s close of 55p. 

Networkers website: http://www.networkersplc.com/ 

Matchtech website: http://www.matchtechgroupplc.com/investors

The Liberum Investment Banking Team 

Tom Fyson

Steve Pearce

Robert Morton

Josh Hughes

Natalia Lipecka

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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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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 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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More names announced at Spectator Energy Forum

24 November 2014 | events

Greencoat Capital Managing Partner Richard Nourse, Joan MacNaughton, Executive Chair of the World Energy Trilemma for the World Energy Council, and Cheniere Energy Director James Ball are among a raft of new names set to speak at The Spectator Energy Conference, sponsored by Liberum, and taking place in the City of London on December 1.

Political leaders, investors, analysts and advisors involved in energy policy and business will meet to explore how to fix Britain’s energy market and understand what is happening to the geopolitics of energy. Those wishing to attend can go here to book >

The day will be chaired by BBC presenter and Spectator Chairman Andrew Neil and other confirmed speakers include Shadow Energy Minister Tom Greatrex, National Grid’s Director of UK Regulation Mark Ripley, Lord Hutton, the chairman of the Nuclear Industry Association, Peter Lilley MP, Oxford Institute of Energy Studies’ Chris Le Fevre and Liberum Utilities Analyst Peter Atherton (pictured below). 

Peter Atherton

Other speakers include Tom Howes, Deputy Head of Unit, Energy Policy and Monitoring, European Commission, Rt Hon David Lidington MP, Minister for Europe, Rhian  Kelly, Director for Business Environment, CBI, David Clark, Chair, Russia Foundation and Stephen Tindale, Associate Fellow, Centre for European Reform.

The afternoon session sets the scene for the domestic energy debate in the UK ahead of the May 2015 general election and it will cover just how broken the energy market is here, what market reform would produce the best energy mix, supply options such as shale gas and nuclear power and the promise new technologies hold. 

The morning session is devoted to the geopolitics of energy and will discuss European energy policy, supply flow threats and the US energy revolution.

To stay ahead of who’s attending, follow us on Twitter @LiberumToday