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Liberum named Joint Corporate Broker to The AA plc

21 April 2015 | Corporate Brokerships

Liberum has today been named Joint Corporate Broker to The AA plc (Ticker: AA/ LN), one of UK's best known and most trusted brands and the country's largest breakdown cover organisation.

AA

The AA has a market capitalisation of £2.35bn.

With more than 40% of the market, the AA responds to an average of 10,000 breakdowns a day.

Personal Members demonstrate loyalty to the brand with an average tenure of approximately 11 years. In addition, retention rates increase with membership tenure; approximately 1.5 million Personal Members had been with the AA for more than 10 years, of which some 800,000 had been Personal Members for more than 20 years as at 31 January 2014.

It also operates the largest driving school in the UK and has a market-leading position in the provision of fleet training services and administration of speed awareness courses for police forces in the UK.

The AA is one of the leading insurance brokers in the UK with a long history of distributing motor, home and other insurance products to Personal Members and non-members. It had some 2.3 million policies in force as of 31 January 2014.

> AA Investor Relations website

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Liberum named Joint Broker to Utilitywise plc

21 April 2015 | Corporate Brokerships

Liberum has been appointed Joint Broker to Utilitywise plc (Ticker: UTW LN), a leading independent utility cost management consultancy.

> PDF release here

The Newcastle-based business was founded in 2006 and brought to market in 2012.

It provides energy and water management products and services to both SME and large corporate customers, principally in the UK but also in Europe.

These services are focused on helping businesses reduce their energy and water consumption and achieve savings from their utility contracts.

Utilitywise now has 1,010 staff and revenue has climbed more than four-fold since 2011 to £48.6m  in 2014, driven principally by organic growth.

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Opinion: BBC divides. In Scotland, who will rule?

15 April 2015 | analyst insight

LIBERUM OPINION: Ian Whittaker, Media Analyst & CItyAM Analyst of the Year

Email Ian or call him on: +44 (0) 20 3100 2089

One difference that has emerged from the main parties’ manifestos is their approach to the future of the BBC. There may be some significant developments here, depending of course on who forms the core of the next government.

Ian Whittaker (1)

On face value, a Labour government might seem best for the BBC. It flagged the current TV system as “one of Britain’s greatest strengths” and that the BBC “makes a vital contribution to the richness of our cultural life, and we will ensure that it continues to do so while delivering value for money”.

More fundamentally, Labour backs the £145.50 licence fee and would presumably be open to modest increases.

Yet there may be a fly in the ointment for the BBC under a Labour-led government: BBC Scotland.

The Scottish National Party sees it as a nest of Unionist vipers and has demanded that authority over the BBC in Scotland be transferred to the Scottish Parliament.

That bodes ill for the BBC.

The Conservatives, on the other hand, have pledged to freeze the licence fee at its current levels, with some suggesting this would mean a 25% cut in real terms if it was extended over Parliament’s lifetime.

This would presumably mean more cost cuts at the BBC.

However, it has left open the prospect of changes to the BBC’s funding structure pending Charter renewal.  

Finally, on Channel 4, Labour has committed to keeping it within state ownership, while the Conservatives are silent on the matter.

Do not be surprised if a Conservative-led government tries to privatise Channel 4. 

http://liberum.com/equities/research-disclaimer

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Town Centre Securities names Liberum Corporate Broker

13 April 2015 | Corporate Brokerships

Town Centre Securities PLC (Ticker: TCSC LN), a Leeds-based Real Estate Investment Trust with a market capitalisation of £167m, has named Liberum as its sole Corporate Broker.

Town Centre Securities 1

The company, listed on the premium segment of the Main Market, is a property investor and car park operator providing residential, office and commercial accommodation through a high-quality portfolio of over £300m that delivers an annual income of more than £22m.

Town Centre Securities 3

It creates mixed use developments close to transport hubs and has a regional focus in Leeds, Manchester and Scotland. 

The Company was floated on the LSE in 1960.

> Company web site

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Liberum Sole Bookrunner on £45m placing for Real Estate Investors plc

26 March 2015 | Corporate Brokerships

Liberum was Sole Bookrunner Thursday on a £45m placing of new ordinary shares in West Midlands property group Real Estate Investors plc (Ticker: RLE LN), the proceeds of which are to help it purchase property across the region.

Real Estate Investors (1)

“The new capital will allow us to grow the company further, continue with our progressive dividend policy and secure capital growth in a robust regional economy,” Paul Bassi, Real Estate Investors Chief Executive, said in a statement.

Admission and settlement takes place April 14.

Liberum is sole broker to the company.

> Real Estate Investors website

> Liberum's fundraising successes

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Head of Content: Adam Smallman +44 (0) 20 3100 2177 

Twitter: @LiberumToday

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Press Enquiries: Redleaf Polhill

Emma Kane 
George Parrett
Karl Wiseman 

+44 (0)20 7382 4747

Liberum Joint Bookrunner on £50m placing for fastjet plc

01 April 2015 | Advisory Work

Liberum is Joint Bookrunner and Global Co-ordinator on today's £50m placing of new ordinary shares in AIM-listed low-cost African airline fastjet plc (Ticker: FJET LN).

Fastjet

The proceeds are to be used to grow fastjet's operations in Tanzania and launch new ones, first in Zambia and Zimbabwe followed by Kenya and South Africa.

The company plans to grow its fleet of leased and owned aircraft to 34 by 2018 from three currently and the new funds raised will help purchase used Airbus A319 aircraft.

Admission and settlement of placing shares is expected April 22 subject to a General Meeting on April 20.

> fastjet investor relations website

> Liberum's fundraising successes

Follow or Contact Liberum

Head of Content: Adam Smallman +44 (0) 20 3100 2177 

Twitter: @LiberumToday

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Press Enquiries: Redleaf Polhill

Emma Kane 
George Parrett
Karl Wiseman 

+44 (0)20 7382 4747