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IWG Plc (IWG.L)

IWG.L on London Stock Exchange

411.80GBp
1:57pm BST
Change (% chg)

-1.60 (-0.39%)
Prev Close
413.40
Open
413.80
Day's High
414.90
Day's Low
410.07
Volume
394,206
Avg. Vol
2,027,337
52-wk High
428.70
52-wk Low
199.00

Latest Key Developments (Source: Significant Developments)

IWG Says Completes Divestment Of Japanese Operations To TKP
Friday, 31 May 2019 

May 31 (Reuters) - IWG Plc ::COMPLETION OF STRATEGIC PARTNERSHIP TRANSACTION.DIVESTMENT OF ITS JAPANESE OPERATIONS TO TKP COMPLETED ON 31 MAY 2019.TKP HAS EXCLUSIVE RIGHTS TO USE OF REGUS, SPACES AND OPENOFFICE BRANDS IN JAPAN.  Full Article

IWG Qtrly Group Rev Up 10.6 Pct At Constant Currency
Wednesday, 1 May 2019 

May 1 (Reuters) - IWG Plc ::TRADING STATEMENT.IN THREE MONTHS ENDED 31 MARCH 2019, REVENUE GROWTH ACROSS ALL OUR OPEN CENTRES INCREASED STRONGLY BY 15.1% AT CONSTANT CURRENCY.STRONG GROWTH TREND CONTINUES.QTRLY GROUP REVENUE INCREASED 10.6% AT CONSTANT CURRENCY, CONTINUING POSITIVE TREND.PRE-2018 REVENUE GROWTH OF 6.3% AT CONSTANT CURRENCY IN QUARTER.PRE-2018 OCCUPANCY UP 4.2PPT TO 75.4% IN QUARTER FROM 71.2% IN Q1 2018.QTRLY GROUP REVENUE INCREASED TO £658.3M FROM £583.9M IN CORRESPONDING PERIOD LAST YEAR.GROUP HAD NET DEBT AT 31 MARCH 2019 OF £534.1M (31 DECEMBER 2018: £460.8M).Q1 PERFORMANCE IN LINE WITH EXPECTATIONS.NEW 2018 AND 2019 LOCATION OPENINGS ARE DEVELOPING IN LINE WITH EXPECTATIONS..  Full Article

IWG Plc Enters Into Strategic Partnership With TKP Corp In Japan
Monday, 15 Apr 2019 

April 15 (Reuters) - IWG Plc ::STRATEGIC PARTNERSHIP TRANSACTION IN JAPAN.ENTERED INTO A STRATEGIC PARTNERSHIP WITH TKP CORPORATION IN JAPAN.IWG WILL DIVEST ITS JAPANESE OPERATIONS TO TKP.PARTIES HAVE AGREED AN EXCLUSIVE MASTER FRANCHISE AGREEMENT FOR COUNTRY.IWG WILL RECEIVE GROSS CONSIDERATION OF £320 MILLION PAYABLE IN CASH.IWG AND TKP HAVE ENTERED INTO A DEFINITIVE SALE AND PURCHASE AGREEMENT IN RELATION TO 100% OF SHARES OF REGUS JAPAN HOLDINGS K.K..DEAL COMPLETION IS EXPECTED TO OCCUR IN MAY 2019.IWG AND TKP HAVE ALSO ENTERED INTO A LONG TERM MASTER FRANCHISE AGREEMENT.UNDER MASTER FRANCHISE AGREEMENT, IWG (AS MASTER FRANCHISOR) HAS COMMITTED TO PROVIDE ON-GOING SERVICES AND SUPPORT TO TKP.DIVESTED BUSINESS CONTRIBUTED £94.4 MILLION TO GROUP REVENUE AND GENERATED EBITDA OF £20.6 MILLION IN 2018.TOTAL GROSS ASSET VALUE OF DIVESTED BUSINESS AS AT 31 DECEMBER 2018 WAS £98.3 MILLION..IWG PLC - PROCEEDS FROM DIVESTMENT WILL BE USED FOR GROUP'S GENERAL CORPORATE PURPOSES.IWG PLC - MARK DIXON WILL JOIN BOARD OF DIRECTORS OF TKP AS A NON-EXECUTIVE DIRECTOR.TRANSACTION CONSTITUTES A CLASS 2 TRANSACTION FOR PURPOSES OF UK FINANCIAL CONDUCT AUTHORITY'S LISTING RULES.  Full Article

IWG Names Eric Hageman Chief Financial Officer
Monday, 24 Dec 2018 

Dec 24 (Reuters) - IWG Plc ::APPOINTMENT OF CHIEF FINANCIAL OFFICER.APPOINTED ERIC HAGEMAN AS CHIEF FINANCIAL OFFICER WITH EFFECT FROM 1 JANUARY 2019.ERIC HAS ACTED AS INTERIM CFO FOR GROUP SINCE 12TH SEPTEMBER 2018.  Full Article

IWG Expects To Deliver FY Result In Line With Management's Expectations
Tuesday, 6 Nov 2018 

Nov 6 (Reuters) - IWG Plc ::QTRLY REVENUE GROWTH ACROSS ALL OUR OPEN CENTRES (EXCLUDING CLOSED CENTRES) INCREASED 13.2 % AT CONSTANT CURRENCY.FOR TOTAL GROUP Q3 REVENUE INCREASED TO £637.9M COMPARED WITH £585.7M IN SAME PERIOD LAST YEAR.MATURE BUSINESS REVENUE INCREASED 3.9% AT CONSTANT CURRENCY TO £565.1M FOR THREE MONTHS ENDED 30 SEPTEMBER 2018, (Q3 2017: £549.8M).BOARD REMAINS CONFIDENT THAT GROUP WILL DELIVER A FULL YEAR RESULT IN LINE WITH MANAGEMENT'S EXPECTATIONS.IN DISCUSSIONS WITH A NUMBER OF INTERESTED PARTIES WHO WISH TO PARTNER WITH US ACROSS ENTIRE COUNTRIES.  Full Article

TDR Capital Does Not Intend To Make An Offer For IWG
Monday, 6 Aug 2018 

Aug 6 (Reuters) - TDR CAPITAL ::NO INTENTION TO MAKE AN OFFER FOR IWG PLC.  Full Article

IWG Posts FY Pre-Tax Profit 149.4 Mln Stg
Tuesday, 6 Mar 2018 

March 6 (Reuters) - Iwg Plc ::FY PROFIT BEFORE TAX OF 149.4 MILLION STG VERSUS 173.7 MILLION STG YEAR AGO.FY GROUP REVENUE OF £2,352.3M, WITH REVENUE GROWTH IMPROVING IN Q4 AND SINCE PERIOD END.SAYS BOARD IS RECOMMENDING AN 11 PERCENT INCREASE IN FINAL DIVIDEND TO 3.95P PENCE.INCREASE IN FULL-YEAR DIVIDEND OF 12% TO 5.70P (2016: 5.10P).  Full Article

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Breakingviews - WeWork value shrinks even further without an IPO

LONDON (Reuters Breakingviews) - Adam Neumann is in a bind. The WeWork founder needs to raise at least $3 billion through an initial public offering to unlock another $6 billion of bank credit. But The We Company has shelved its float due to weak demand from investors. Without the cash, growth will dip, potentially pushing the office-sharing startup’s value even lower.