Here is a summary of regulatory news releases from the London Stock Exchange on Friday, 29th November. Please refresh for updates.
Ocado (LON:OCDO) said it signed up a big new international customer for its Ocado Smart Platform technology.
It’s agreed a strategic partnership with Aeon, Japan’s largest retailer, to develop the latter’s online grocery business in Japan. It intends to build a network of fulfilment and service centers with a sales capacity around 600 billion yen ($5.5 billion) by 2030, growing to approximately 1 trillion yen by 2035.
Aeon will pay Ocado (LON:OCDO) certain upfront fees upon signing and during the development phase, then ongoing fees linked to both sales achieved and installed capacity within each new fulfilment center and service criteria.
The company expects some 25 million pounds in additional operating costs and “minimal” additional capital spending next year as a result, with most of the associated capex coming in the 18 months leading up to the opening of each fulfilment center.
Estate agent Countrywide (LON:CWD) said it had agreed to sell its commercial business Lambert Smith Hamption for 38 million pounds, a deal it said that will sharpen its focus on the core residential business and “materially” reduce its net debt.
Investec (LON:INVP) said it expects its common equity tier 1 ratio, a key measure of financial strength, to rise by around 1.3 percentage points to 12.0% as a result of spinning off its asset management division.
The spin-off is expected to happen in March 2020, with the new company trading under the name of Ninety One on both the London and Johannesburg stock exchanges.
Investec PLC shareholders will receive 55.9% of the total issued share capital of Ninety One PLC, while up to 8.3% will be placed with news investors in a secondary offering on the same day as the listing, with Investec pocketing the proceeds. Investec itself intends to retain some 15.8% of Ninety One.
Future PLC (LON:FUTR) said it had issued 686,497 shares to fund the acquisition of Barcroft Studios that it announced earlier this month. That represents some 0.7% of the expanded capital base.
IG Group (LON:IGG) said it has reappointed PriceWaterhouseCoopers as its auditor.