Page 63 - Guy Hands News Today

By Dave Rogers2021-05-13T09:28:00+01:00 Contractor announces promised details of £241m cash call The final stage of Kier’s plan to be debt free in the next couple of years was announced this morning with the firm telling the City it hopes to raise £241m in new equity by the middle of next month. Chief executive Andrew Davies said last month that its £436m debt pile could be a thing of the past as proceeds from the equity raise and the £110m sale of its housing arm, Kier Living, which is...

Kier Group climbs after £241mln fundraising plans A look at the major movers on the London market on Thursday Kier Group PLC (LON:KIE) has built up a good gain after boosting its balance sheet. The construction company plans to raise £241mln with a placing and open offer at 85p a share. Together with the proceeds of the recent sale of housing division Kier Living to a company owned by financier Guy Hands, that will give the company funds of around £351.4mln. Chief executive Andrew Davies s...

By Dave Rogers2021-05-13T16:14:00+01:00 Firm to use money to eat into £436m debt pile Kier has completed the £241m equity raise it only announced this morning, the firm has confirmed in a Stock Exchange announcement this afternoon. It said 284 million shares have been issued at a price of 85 pence per share raising approximately £241m. Andrew Davies wants Kier to be in a net cash position within three years The firm only announced details of the plans at 7AM today with the lightning quick ...

This means they work as a third party with software suppliers and their customers. Suppliers can periodically put software codes into NCC’s physical or virtual vaults, which can then be accessed by their customers. This keeps the products safe and means they can be accessed in an emergency. Stock Watch - Kier Group Construction contractor Kier Group has kicked off a £241million share sale. Boss Andrew Davies said the fundraising – announced in April – would be the ‘final milestone’ ...

Share On May 31, Tamara Comolli will step down from her role as managing director and creative director of the namesake brand she founded. Luxury executives Sophia Friedl and Tobias Marquardt will jointly take over as co-CEOs of her company, Tamara Comolli Fine Jewelry. Both have extensive experience in the luxury and retail industries. Marquardt joined the company as co-CEO on May 1. He has previously served as managing director of the luxury department store E. Breuninger. Friedl will join th...

By Dave Rogers2021-05-05T06:53:00+01:00 New faces to report to chief executive and CFO respectively Kier has added two new names to its executive committee with the appointment of a corporate affairs director and corporate development director. Sophie Timms is promoted to the role of corporate affairs director and will report to chief executive Andrew Davies. Sophie Timms joined Kier last October She will have responsibility for government relations and communications, having only joined the ...

Dan Whelan The construction group made a £9m pre-tax profit for the six months ended 31 December 2020 and is planning a £240m equity raise to tackle its high debt levels, according to a stock market filing.  Kier, which is behind the £200m mixed-use Pall Mall scheme in Liverpool, has returned to profit in the second half of 2020 after reporting a £225m loss for the 12 months ended 30 June 2020.  The company is now embarking on a strategy to whittle down its £353m debt pile, which will ...

Government contractor Kier has sold off its housebuilding arm to private equity baron Guy Hands in a cash deal worth £110million.   The construction company announced the deal on Friday, saying it had agreed to sell its Keir Living business to a newly formed company called Foster BidCo owned by the billionaire investor. Hands, the founder and boss of private equity firm Terra Firma whos been living in Guernsey for tax reasons since 2009, said he was delighted to buy the business, which has...

Kier Group To Sell Kier Living To Foster BidCo LONDON (dpa-AFX) - Kier Group Plc (KIE.L) said that it agreed to sell Kier Living Limited to Foster BidCo Limited, a newly formed company, ultimately owned by Guy Hands, the Founder, Chairman and Chief Investment Officer of Terra Firma. The consideration payable by the Buyer for Kier Living is 110 million pounds, payable in cash on completion of the Transaction. The completion of the deal is expected before mid-June. There will be additional paymen...

IN BRIEF: Kier Group sells Kier Living unit for GBP110 million Fri, 16th Apr 2021 18:16 Kier Group PLC - Manchester-headquartered construction firm - Sells Kier Living unit to Foster BidCo Ltd for GBP110 million. Newly-formed Foster BidCo is owned by Guy Hands, chair and investment chief at private equity firm Terra Firma. Buyer pays non-refundable deposit of GBP40 million. Sale need approval from Kier shareholders at general meeting planned for early-May. Kier says sale will "facilitate a mate...