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Prices & Quotes - UK Markets - Ascential (ASCL)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 406.00p
Change Today:
1.60p
Market Cap:
1,635.93m
Sector:
Media

Ascential sells Groundshare in 170m deal

By Josh White

Date: Wednesday 20 Jan 2021

LONDON (ShareCast) - (Sharecast News) - Information, data and analytics company Ascential has sold Groundsure to a subsidiary of legal technology, software and information services group ATI Global in a deal worth 170m, it announced on Wednesday.
The FTSE 250 firm said the disposal would allow capital to be allocated to its core areas of focus, in particular the "fast-growing" digital commerce segment, including organic investments and potential merger and acquisition opportunities.

In the financial year ended 31 December 2019, Groundsure generated revenue of 20m and adjusted EBITDA before allocation of central costs of 12.4m.

Following the disposal, central costs allocated to Groundsure totalling 1.8m in 2019 would be mitigated through a transitional services agreement and cost savings over the coming year.

The gross assets of Groundsure as at 30 June totalled 8.2m, and a further 1.5m of acquired goodwill and intangibles was held on consolidation.

Ascential's board said the purchase price of 170m comprised initial cash of 140m, subject to customary closing adjustments, and a 30m interest-bearing vendor loan note repayable on or before the end of 2023.

"We are delighted that Groundsure has found new owners who will continue to nurture its strong team, product and potential as an independent standalone business," said chief executive officer Duncan Painter.

"For us, today's transaction brings into even clearer focus our strategy and core customer proposition: enabling our customers to design and create the right products, maximising their marketing impact and optimising their digital commerce performance."

At 0854 GMT, shares in Ascential were up 2.99% at 365p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Ascential Market Data

Currency UK Pounds
Price 406.00p
Change Today 1.60p
52 Week High 408.40p
52 Week Low 267.00p
Volume 1,235,938
Shares Issued 402.94m
Market Cap 1,635.93m

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What The Brokers Say

Strong Buy 6
Buy 0
Neutral 5
Sell 0
Strong Sell 0
Total 11
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Ascential Dividends

  Latest Previous
  Interim Final
Ex-Div 29-Aug-19 16-May-19
Paid 27-Sep-19 14-Jun-19
Amount 1.80p 3.90p

Trades for 22-Jun-2021

Time Volume / Share Price
16:35 230,859 @ 406.00p
16:29 2 @ 405.60p
16:29 12 @ 406.18p
16:29 15 @ 406.20p
16:29 583 @ 405.60p

Ascential Key Personnel

Chair Scott Forbes
CEO Duncan Painter
CFO Mandy Gradden