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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Aldermore Group PLC    ALD   GB00BQQMCJ47

ALDERMORE GROUP PLC (ALD)
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Aldermore Appoints Pat Butler Chairman Upon Completion of FirstRand Takeover

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12/13/2017 | 09:03am CEST
   By Ian Walker 
 

Aldermore Group PLC (>> Aldermore Group PLC) said Wednesday that it will appoint Pat Butler as chairman once its 1.1 billion-pound ($1.47 billion) takeover by FirstRand Ltd. (FSR.JO) completes.

The specialist lender said Mr. Butler will become a non-executive director and chairman designate on Jan. 1, 2018. Danuta Gray will continue in her role as interim chairman until Mr. Butler's appointment, the company said, adding that she will then resume her role as senior independent director.

Aldermore said on Nov. 6 that it had accepted an offer of 313 pence a share from FirstRand. The deal was approved by the court and shareholders on Dec. 8.

Completion of the acquisition is still subject to certain conditions, and is expected in the first quarter of 2018.

Mr. Butler currently serves as an independent non-executive director of Bank of Ireland Group (BIRG.DB) and Bank of Ireland (U.K.), where he chairs the remuneration committee; of Hikma Pharmaceuticals (>> Hikma Pharmaceuticals), where he is chairman of the audit committee; and of the Ardonagh Group, where he chairs the risk committee.

Write to Ian Walker at [email protected]; @IanWalk40289749

Stocks mentioned in the article : Aldermore Group PLC, Hikma Pharmaceuticals
Stocks mentioned in the article
ChangeLast1st jan.
ALDERMORE GROUP PLC 0.00%-End-of-day quote.0.68%
FIRSTRAND LIMITED 1.98% 66 End-of-day quote.-1.86%
HIKMA PHARMACEUTICALS 4.30% 1614.5 Delayed Quote.42.37%
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Financials (GBP)
Sales 2017 305 M
EBIT 2017 167 M
Net income 2017 108 M
Debt 2017 -
Yield 2017 1,08%
P/E ratio 2017 7,51
P/E ratio 2018 6,38
Capi. / Sales 2017 3,54x
Capi. / Sales 2018 3,26x
Capitalization 1 080 M
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 11
Average target price 2,94  GBP
Spread / Average Target -5,8%
EPS Revisions
Managers
NameTitle
Philip Monks Chief Executive Officer & Executive Director
Patrick Noel Butler Chairman
Dana Cuffe Chief Operating Officer
James Mack Chief Financial Officer & Executive Director
Danuta Gray Senior Independent Director
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