ITV

Tag: shares

  • Havas gets listed independently on Euronext Amsterdam

    Havas gets listed independently on Euronext Amsterdam

    MUMBAI: It’s got its independence at last. Advertising and marketing services giant Havas today announced the successful listing of its ordinary shares on the regulated market of Euronext in Amsterdam under the ticker HAVAS. This follows the completion of its spin-off from Vivendi and the distribution of Havas’s ordinary shares to Vivendi shareholders on a one-for-one basis, approved by them  at the combined general shareholders’ meeting  on 9 December 2024. 

    Havas chairman & CEO Yannick Bolloré said: “The successful completion of Havas’s spin-off and listing on Euronext Amsterdam marks a pivotal step towards the realisation of our long-term vision. It gives us additional flexibility to accelerate our growth across our key business lines and strengthens our unique position within the dynamic marketing and communications industry. Our converged strategy, enhanced by exceptional talent, data-driven insights, cutting-edge technology, and targeted acquisitions, places us in the best possible position to be even more creative and strategic, and deliver robust financial performance, creating long-term value for our shareholders. I would like to thank our talented teams for all their hard work and commitment throughout this process, and all our clients for their trust.” 

    Through its converged strategy, has drawn up a three pronged way forward to drive growth, creativity and innovation by focusing on three key priorities: 

    1. Strategic acquisitions: Continue its disciplined approach to acquisitions, targeting high-growth markets and expanding its expertise in data analytics, digital transformation, and AI. 
    2. Investment in innovation: Prioritise the development of capabilities in data, technology, and AI to deliver cutting-edge solutions, ensuring it remains at the forefront of the industry. 
    3. Increased Collaboration: Implement a group-wide operating system to fuse all Havas’ global expertise, tools and capabilities and further integrate its networks and agencies worldwide. 

    As disclosed at the capital markets day held on 19 November  2024: 
    * Havas is aiming to achieve an Adjusted EBIT margin ranging between 14 per cent  and 15 per cent by no later than the financial year ending 31 December 2028. Havas is also aiming to generate contributions to net revenue from new acquisitions averaging between €40 million and €50 million per year over the medium term, driven by the execution of the group’s acquisition strategy. 

    * Havas believes it can achieve the following as of and for the year ending 31 December 2024: 
    o A change in net revenue on an organic basis ranging between a decrease of one per cent  and no change, compared to the year ended 31 December 2023; 
    o Adjusted EBIT in excess of €330 million, reflecting management of operating expenses (such as personnel and travel expenses); 
    o Net cash and cash equivalents (excluding lease liabilities and earn-out and buy-out obligations) of around €150 million.

    * For the year ending 31 December, 2025, Havas believes it can achieve the following: 
    o Net revenue on an organic basis growth in excess of two per cent, compared to the year ending 31 December 2024; 
    o Adjusted EBIT margin ranging between 12.5 per cent and 13.5 per cent 

    Regarding its dividend policy, Havas says it intends to provide a regular return on capital to its shareholders through an annual dividend payment. This payment is expected to represent around 40 per cent of the net income (group share) for the relevant financial year, starting in 2025 for the financial year ending 31 December 2024. 

  • Goldman Sachs picks shares in Hathway worth Rs 52.6 crore

    Goldman Sachs picks shares in Hathway worth Rs 52.6 crore

    MUMBAI: The new year has started on a good note for multi system operator (MSO) Hathway Cable and Datacom. Hathway, which became the first MSO to have crossed the $1 billion mark in terms of enterprise valuation, has now attracted Goldman Sachs, which picked up 4.8 per cent stake in the company.

     

    After investing Rs 600 crore in DEN Networks in 2013, this is Goldman Sachs second investment in Indian cable TV industry.

     

    The company bought 80,93,268 shares of Hathway at Rs 65, amounting to Rs 52.6 crore on the National Stock Exchange (NSE).

     

    The highest shareholder in the MSO is Macquarie Bank with 9.11 per cent stake. Other shareholders in the company include Reliance Capital (5.23 per cent), P6 Asia (Providence Equity Partners) (10.85 per cent) and CLSA Global (4.02 per cent) among others.

     

    The news comes at the back of the MSO seeking shareholder’s approval for increasing its total foreign investment by Foreign Institutional Investors (FII) and Foreign Portfolio Investors (FPI) to 74 per cent from the current 49 per cent.

     

    While Hathway had on 8 January got Board approval for increasing the foreign investment limit, subject to approval from the Foreign Investment Promotion Board of India, Ministry of Finance and/or the Reserve Bank of India, the MSO is now seeking the shareholders nod.

     

    The Hathway Board has appointed Rathi and Associates Himanshu S Kamdar as scrutiniser for conducting the voting process through postal ballot. The company has also offered e-voting facility as an alternative. The last date for the ballots to reach Kamdar is 5 pm on 13 February.

     

  • Few shareholders tender Network 18 and TV18 shares against Reliance open offer

    Few shareholders tender Network 18 and TV18 shares against Reliance open offer

    BENGALURU: A small fraction of the shareholders tendered their shares to the Reliance Industries led Independent Media Trust (IMT), in its bid to acquire over 90 per cent stake in the two companies – TV18 Broadcast and Network 18 Media & Investments.

    Only 54 lakh TV18 Broadcast shares representing 0.32 per cent were tendered against the 44.65 crore shares representing 26 per cent that Reliance proposed to buy , and a meager 2.6 lakh Network 18 shares representing just 0.2 per cent of the shareholding were tendered. IMT spent just Rs 16.43 crore for the TV 18 tendered shares and Rs 1.06 crore for the Network 18 shares. IMT’s offer was Rs 30.18 per TV18 Broadcast equity share and Rs 41.04 per Network 18 equity share.

    The new acquisitions brought IMT/Reliance group’s stake in TV18 Broadcast to 60.29 per cent and to 78.07 per cent in Network 18.

    Reliance may have to sell off some Network 18 shares to meet the minimum shareholding norms of 25 per cent. At present, the public shareholding in the company stands at 20.27 per cent.

     

  • Eros International Announces Pricing of Follow-on Equity Offering

    Eros International Announces Pricing of Follow-on Equity Offering

    MUMBAI: Eros International, a leading global company in the Indian film entertainment industry, today announced the pricing of an underwritten public offering of 7,000,000 A ordinary shares at a price of $14.50. The offering consists of 7,000,000 A ordinary shares offered by Eros and certain existing shareholders, which consists of 6,675,000 shares offered by Eros and 325,000 shares offered by the selling shareholders. Eros will not receive any proceeds from the sale of shares by the selling shareholders. In addition, Eros and an existing shareholder have granted the underwriters a 30-day option to purchase up to an additional 1,050,000 A ordinary shares in total, which will be equally split between Eros and the existing shareholder at the offering price less underwriting discounts and commissions. The offering is expected to close on 15 July 2014.

     

    BofA Merrill Lynch, Jefferies, Wells Fargo Securities and Macquarie Capital are acting as joint book running managers and EM Securities is acting as co-manager for the offering.

     

    Copies of the prospectus may be obtained from BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, or via email, at dg.prospectus_requests@baml.com and from Jefferies LLC, Attn: Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or via e-mail at Prospectus_Department@Jefferies.com .

     

    A registration statement relating to the offering has been filed with, and has been declared effective by, the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.