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Aldermore Group PLC (ALD.L)

ALD.L on London Stock Exchange

311.20GBp
23 Jan 2018
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Latest Key Developments (Source: Significant Developments)

Aldermore appoints Pat Butler as chairman designate​
Wednesday, 13 Dec 2017 

Dec 13 (Reuters) - Aldermore Group Plc ::SAYS ‍ALDERMORE GROUP PLC IS PLEASED TO ANNOUNCE APPOINTMENT OF PAT BUTLER AS A NON-EXECUTIVE DIRECTOR WITH EFFECT FROM 1 JANUARY 2018 AND AS CHAIRMAN DESIGNATE​.  Full Article

Aldermore says Firstrand acquisition will be effected by means of court-sanctioned scheme of arrangement
Monday, 13 Nov 2017 

Nov 13 (Reuters) - ALDERMORE GROUP PLC ::‍INTENDED THAT ACQUISITION BY FIRSTRAND WILL BE EFFECTED BY MEANS OF COURT-SANCTIONED SCHEME OF ARRANGEMENT.COURT MEETING AND GENERAL MEETING TO APPROVE SCHEME ARE SCHEDULED TO BE HELD AT 11:00 A.M. AND 11:15 A.M. ON 8 DECEMBER 2017​.  Full Article

Firstrand Ltd announces recommended cash offer for Aldermore Group Plc
Monday, 6 Nov 2017 

Nov 6 (Reuters) - FIRSTRAND LTD ::FIRSTRAND, ALDERMORE REACHED AGREEMENT ON RECOMMENDED CASH OFFER TO BE MADE BY FIRSTRAND OFFEROR FOR ALDERMORE​.‍OFFER VALUES ENTIRE ISSUED AND TO BE ISSUED ORDINARY SHARE CAPITAL OF ALDERMORE AT APPROXIMATELY £1.1 BILLION​.‍CONSIDERATION PAYABLE UNDER OFFER WILL BE FUNDED FROM FIRSTRAND GROUP'S EXISTING CASH RESOURCES​.‍ALDERMORE DIRECTORS CONSIDER TERMS OF OFFER TO BE FAIR AND REASONABLE​.‍UNDER TERMS OF OFFER, ALDERMORE SHAREHOLDERS SHALL BE ENTITLED TO RECEIVE FOR EACH ORDINARY SHARE 313 PENCE IN CASH​.  Full Article

Firstrand to not waive due diligence completion condition on Aldermore deal
Monday, 16 Oct 2017 

Oct 16 (Reuters) - FIRSTRAND LTD::CONFIRMS IT WILL NOT WAIVE CONDITION ON COMPLETION OF DUE DILIGENCE, BUT CAN ELECT TO WAIVE CONDITION ON UNANIMOUS BOARD RECOMMENDATION​.  Full Article

FirstRand ‍confirms it approached Aldermore on possible offer​
Friday, 13 Oct 2017 

Oct 13 (Reuters) - FirstRand Ltd :‍CONFIRMS THAT IT HAS MADE AN APPROACH TO ACQUIRE ENTIRE ISSUED AND TO BE ISSUED SHARE CAPITAL OF ALDERMORE​.‍THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE.‍FIRSTRAND IS REQUIRED BY 10 NOVEMBER EITHER TO ANNOUNCE A FIRM INTENTION TO MAKE AN OFFER FOR ALDERMORE​ OR SAY IT DOES NOT INTED TO MAKE AN OFFER​.  Full Article

Aldermore says in talks with South Africa's FirstRand over 313p/shr offer
Friday, 13 Oct 2017 

Oct 13 (Reuters) - Aldermore Group Plc ::ALDERMORE GROUP PLC - STMNT RE SHARE PRICE MOVEMENT.‍RECENTLY RECEIVED AN INDICATIVE PROPOSAL FROM FIRSTRAND LIMITED REGARDING A POSSIBLE OFFER​.ALDERMORE GROUP - ‍ALDERMORE AND FIRSTRAND ARE IN PRELIMINARY DISCUSSIONS ABOUT DETAILS OF POSSIBLE OFFER, WHICH IS SUBJECT TO A NUMBER OF STANDARD CONDITIONS​.ALDERMORE - ‍OFFER FOR ENTIRE ISSUED OF CO AND TO BE ISSUED ORDINARY SHARE CAPITAL OF ALDERMORE OF 313 PENCE PER ORDINARY SHARE IN CASH​.‍BOARD OF ALDERMORE HAS INDICATED TO FIRSTRAND THAT IT IS LIKELY TO RECOMMEND FIRM OFFER AT THIS LEVEL​.‍THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE OR AS TO TERMS ON WHICH ANY OFFER MIGHT BE MADE​.  Full Article

Aldermore Group posts Q1 net loans up 6% to 7.9 billion stg
Thursday, 11 May 2017 

May 11 (Reuters) - Aldermore Group Plc ::Strong customer driven growth with organic new lending of c.£1 billion in Q1.Q1 net loans up 6% to £7.9 billion versus £7.5 billion at end 2016.Q1 loan growth driven by strong levels of new lending up 17% to £949 million.Net interest margin remains stable at 3.5% in quarter.Q1 customer deposits increased 5% to £7.0bln versus £6.7bln at end-2016.CET1 capital ratio stable at 11.5%.Continue to anticipate a lower level of growth for q2 of 2017.Remain on track to deliver loan growth in guided range of 10-15% for full year."Increased our use of bank of england's term funding scheme, with amount drawn now exceeding £750mln".Made a strong start to 2017 and remain on track to deliver financial guidance outlined in march.  Full Article

Aldermore Group says H1 underlying profit before tax up 45 pct
Thursday, 11 Aug 2016 

Aldermore Group Plc : Half year results 2016 . H1 underlying profit before tax (1) up by 45 pct to 63 mln stg (h1 2015: 44 mln stg) . Net interest margin stable at 3.6 pct (h1 2015: 3.6 pct) . Excellent loan origination; up by 26 pct to 1.5 bln stg (h1 2015: 1.2 bln stg). Net loans up by 11 pct to 6.8 bln stg (31 december 2015: 6.1 bn stg) . Asset finance +11 pct; sme commercial mortgages +12 pct; buy-to-let +12 pct; residential mortgages +9 pct . Total capital ratio of 14.0 pct (31 december 2015: 15.1 pct) . Cet1 capital ratio of 11.0 pct (31 december 2015: 11.8 pct) . As a purely uk-focused business, we are not directly exposed to potential changes in access to european markets-ceo . To date, we have seen no direct impact on our business but we continue to monitor situation closely and have a proven ability to react quickly to a changing environment-ceo . H1 reported profit before tax increased by 50 pct to 59 mln stg (h1 2015: £40m) . Underlying cost/income ratio (1) further improved by 8pts to 45% (h1 2015: 53%) . Following eu referendum, we all face a period of heightened political and economic uncertainty-ceo . However, we are exposed to wider economic effects of result-ceo . BOE reduced bank rate by 25bps to 0.25% and market expectations are for a further rate cut, potentially by end of 2016. . We intend to pass full reduction onto both our lending and deposit customers.  Full Article

Aldermore says Q1 net loans to customers up 6 pct
Thursday, 12 May 2016 

Aldermore Group Plc : Excellent loan origination; up by 43 pct to 814 mln stg (Q1 2015: 568 mln stg) . Q1 business finance origination up by 18 pct to 272 mln stg(Q1 2015: 230 mln stg) . Q1 buy-to-let origination very strong at 327 mln stg, up by 144 pct (Q1 2015: 134 mln stg) . Q1 net loans to customers up by 0.4 bln stg or 6 pct to 6.5 mln stg (Dec. 31 2015: 6.1 bln stg) . Cet1 capital ratio (1) of 11.5 pct (Dec. 31 2015: 11.8 pct) . Have made an excellent start to year . Market conditions in q1 of 2016 remain broadly consistent with those experienced last year .Confident of delivering on all of guidance we set out with our recent 2015 full year results.  Full Article

Lender Aldermore appoints Pat Butler as chairman after takeover deal

Dec 13 British bank Aldermore Group, which has agreed to be taken over by South African lender FirstRand, said on Wednesday it had appointed Pat Butler as chairman starting from Jan. 1.