UK Municipal Bonds Agency

Renewi plc: Response to Rule 2.8 termination announcement from Macquarie Asset Management

Retrieved on: 
Friday, October 27, 2023
Capital market, Policy, Development, FOR, EBITDA, UK Municipal Bonds Agency, NOT, EBIT, The Takeover Code, COVID, Macquarie Group, CPP Investment Board, ROCE, Soil, Recycling, Security (finance), Renewi, Macquarie

As a result, Macquarie is bound by the restrictions set out in Rule 2.8 of the Takeover Code.

Key Points: 
  • As a result, Macquarie is bound by the restrictions set out in Rule 2.8 of the Takeover Code.
  • The Board carefully assessed this Revised Proposal with its advisers and also considered the recent feedback it had received from Renewi shareholders.
  • The Board rejected this Revised Proposal on the basis that it continued to fundamentally undervalue Renewi and its prospects.
  • However, the price level of the Revised Proposal did not provide a basis to provide Macquarie with access to due diligence.

Renewi plc: Further response to possible offer announcement by Macquarie Asset Management (“Macquarie”)

Retrieved on: 
Thursday, September 28, 2023
MAKE, Acceptance, Failure, FOR, Conversion, Code, Financial Conduct Authority, UK Municipal Bonds Agency, Federal Financial Supervisory Authority, NOR, DOES, Capital market, Culture, CITY, Netherlands, Open position, Panel, FIRM, Growth, Disclosure, NOT, Carbon, FCA, Judgement of the German Federal Court of Justice on Google's autocomplete function, Takeover, COVID, Recycling, EBIT, Person, EBITDA, MADE, ANY, ISIN, Mergers and acquisitions, United Kingdom, Property management, Cryptocurrency, Renewable energy, Bank, Security (finance), Tax advisor, Renewi, Berenberg family, Macquarie

These actions will be supplemented by progress in Renewi’s digital agenda, focused on further improving customer related processes, digitising its back offices and upgrading its asset management capabilities.

Key Points: 
  • These actions will be supplemented by progress in Renewi’s digital agenda, focused on further improving customer related processes, digitising its back offices and upgrading its asset management capabilities.
  • Delivery of these initiatives is expected to drive sustainable long-term margin improvement, towards the Company’s target of high single digit % EBIT margin.
  • For the purposes of Rule 2.5(a) of the Code, this announcement has been made without the consent of Macquarie.
  • The content of the website referred to above is not incorporated into and does not form part of this announcement.

Renewi plc: TST-Trading Statement - On track to meet expectations for the full year

Retrieved on: 
Thursday, February 2, 2023
Sand, Special Division, Paper, Certification, UK Municipal Bonds Agency, Carbon, Growth, Investment, MAR, Renewi, Oil, Recycling, Q3, Acht

Renewi, the leading European waste-to-product business, announces its trading update for the third quarter ended 31 December 2022.

Key Points: 
  • Renewi, the leading European waste-to-product business, announces its trading update for the third quarter ended 31 December 2022.
  • “We are on track to meet expectations [1] for the full year.
  • We are continuing to execute our strategic agenda and to build on our leading position as a manufacturer of low carbon secondary materials.
  • Core net debt at 31 December 2022 decreased to €372m (September 2022: €388m), driven by disciplined working capital management.

Renewi plc: Third Quarter Trading update and material upgrade to expectations

Retrieved on: 
Friday, January 28, 2022
TGG, Legislation, Public health, EBIT, MAR, UK Municipal Bonds Agency, Incineration, Special Division, Goal, Group, ESG, Carbon, Board, IFRS 16, Environment, RIVM, IFRS, RWI, Renewi, Innovation, Investment, LSE, Soil, ATM, Oil, Recycling, Acht, EU

Renewi plc (LSE: RWI), the leading European waste-to-product business, announces its trading update for the third quarter ended 31 December 2021 ("third quarter" or the "period").

Key Points: 
  • Renewi plc (LSE: RWI), the leading European waste-to-product business, announces its trading update for the third quarter ended 31 December 2021 ("third quarter" or the "period").
  • Overall trading for the Group in the period has continued to be very strong, driven by continuing high recyclate prices, and the Board today announces a further material upgrade to its expectations for the year ending 31 March 2022.
  • The Commercial Waste Division has continued to perform very well in the third quarter.
  • Volumes in the Netherlands and Belgium in the third quarter were 91% and 93% of prior year respectively.