DMGT has reduced its holding in Euromoney from 67% to 49%, meaning results will no longer be consolidated and removing a major barrier to investment in ERM for some potential shareholders. Of the 32.2m shares involved, 13.0m have been placed with investors and 19.2m bought back for cancellation, all at 975p, a discount of 13% to last night’s close. The reduced share capital mechanistically boosts the EPS and management has also indicated a review of the dividend payout ratio. We will fo
09 Dec 2016
DMGT reduces stake
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DMGT reduces stake
- Published:
09 Dec 2016 -
Author:
Fiona Orford-Williams -
Pages:
2
DMGT has reduced its holding in Euromoney from 67% to 49%, meaning results will no longer be consolidated and removing a major barrier to investment in ERM for some potential shareholders. Of the 32.2m shares involved, 13.0m have been placed with investors and 19.2m bought back for cancellation, all at 975p, a discount of 13% to last night’s close. The reduced share capital mechanistically boosts the EPS and management has also indicated a review of the dividend payout ratio. We will fo