Melrose Industries - GKN Aerospace (Seite 4)

[Oginvest]

Industrial investor Melrose takes new flight path as aerospace-focused group

Melrose Industries will reposition itself as a pure-play aerospace group in a trading update on Wednesday that will fuel speculation about its founders' future, Sky News learns.

Melrose Industries will on Wednesday announce the most significant shift in its strategy since its creation 20 years ago by telling investors that it is repositioning itself as a pure-play aerospace company.

Sky News has learnt that in a scheduled trading update to the City, Melrose will announce that it is putting its well-worn 'buy, improve, sell' approach on hold while it focuses on the performance of its remaining business.

City sources said the company was likely to commit to shareholders that it will not pursue any material acquisitions, either in or outside the aerospace sector, over the next 12 months.

One long-standing Melrose investor said they anticipated the company's management, led by chief executive Simon Peckham, would seek to create substantial value from both GKN Aerospace's engines and structures units during that period.

They also speculated that the company would consider renaming itself Melrose Aerospace, with an announcement potentially coming as soon as a capital markets day event next week.

Wednesday's trading update will follow the recent demerger of GKN's automotive division, which has since been renamed Dowlais Group and has been listed as a standalone business on the London Stock Exchange.

Following the disposal of other industrial companies in recent years, Melrose has now been left owning only the vast GKN aerospace operation it bought as part of a fractious £8bn takeover in 2018.

The company's board is said to believe that the revival of investor appetite for aviation-related stocks should prompt a material re-rating in the short-to-medium term.

On Tuesday, Melrose shares were trading at about 425p, giving the company a market capitalisation of £5.7bn and an enterprise value - which includes its debt - of £6.2bn.

One industrials sector banker said they believed that at that valuation, Melrose was likely to draw interest from both strategic and financial buyers, particularly if conditions in debt financing markets improved in the coming months.

....
https://news.sky.com/story/industrial-investor-melrose-takes…

[Oginvest]

UK's Melrose to shift strategy to focus on aerospace - Sky News

May 9 (Reuters) - British engineer Melrose Industries (MRON.L) will reposition itself into a purely aerospace focused group, Sky News reported on Tuesday, citing sources.

The company will make the announcement in its trading update on May 10, the report added.

The report said Melrose was likely to commit to shareholders that it will not pursue any material acquisitions, either in or outside the aerospace sector, over the next 12 months.

...
https://www.reuters.com/markets/europe/uks-melrose-shift-str…

[Oginvest]

Die für Melrose Industries relevante GKN Aerospace Seite: https://www.gknaerospace.com/

Der Link auf der Melrose Seite ist leider, zumindest heute, nicht korrekt verknüpft: https://www.melroseplc.net/businesses/aerospace/

[Oginvest]

Die Melrose 2022 Full Year Results Presentation:

Zitat von Oginvest: Im Zusammenhang Melrose und Dowlais ist die folgende Melrose Präsentation ebenfalls informativ, mit Vergleich der beiden alten/neuen Bereiche, sowie auch in Bezug auf die nach der Trennung erwarteten Aussichten:

2022 Full Year Results Presentation
https://www.melroseplc.net/media/3041/fy2022-results-present…

[Oginvest]

Die Melrose Präsentation zum Dowlais (GKN Automotive) Demerger:

Zitat von Oginvest: Folgend die Präsentation vom September 2022 in Bezug auf Gründe für ein Melrose / Dowlais de-merge:

Intention to demerge Automotive and Powder Metallurgy, 2022 Interim Results
https://www.melroseplc.net/media/2988/june-2022-results-pres…

[Oginvest]

Antwort auf Beitrag Nr.: 73.717.880 von Oginvest am 23.04.23 14:10:04

Den neuen Thread "Dowlais - Innovative and transformative Engineering" zu Dowlais (GKN Automotive) findet man hier:
https://www.wallstreet-online.de/diskussion/1368485-11-20/do…

[Oginvest]

Die Presse schrieb dazu:

Melrose spin off leaves us where we started but was it worth it?

“Buy, Improve, Sell” is the Melrose Industries PLC (LSE:MRO, OTC:MLSPF)’s motto but is the ‘turnaround’ business merely an asset stripper looking for a short-term buck?

The firm today completed the demerger of the GKN Automotive, GKN Powder Metallurgy and GKN Hydrogen businesses into a new company, Dowlais Group PLC (LSEWL).

...
https://www.proactiveinvestors.com/companies/news/1012764/me…

[Oginvest]

Den alten Thread "Melrose Industries - neue Runde mit Nortek" findet man weiterhin hier:
https://www.wallstreet-online.de/diskussion/1244273-1-10/mel…

[Oginvest]

Infolge neuer ISIN von Melrose Industries, nach dem Dowlais (GKN Automotive) Demerger, mit Verbleib des Bereichs GKN Aerospace bei Melrose Industrie, wurde dieser Thread eröffnet. Folgend die offizielle Mitteilung:

Completion of the Demerger of Dowlais and Melrose Share Consolidation

20 April 2023 Melrose Industries PLC (“Melrose” or the “Company”) has today completed the demerger of the GKN Automotive, GKN Powder Metallurgy and GKN Hydrogen businesses from the Company into Dowlais Group plc (“Dowlais”) (the “Demerger”).

Prior to the Demerger, the Company undertook a three for one consolidation of the existing Melrose ordinary shares after 6:00 p.m. on 19 April 2023 (the “Melrose Share Consolidation”). In order to ensure that no outstanding fractional amount of a new Melrose ordinary share existed following the Melrose Share Consolidation, two existing Melrose ordinary shares were allotted and issued to Investec Bank plc after close of trading on 19 April 2023 at a price of 163.125 pence per existing Melrose ordinary share, being the closing middle-market price on 19 April 2023. Admission and dealings in the new Melrose ordinary shares on the London Stock Exchange commenced at 8.00 a.m. (London time) today (20 April 2023).

The ISIN for the new Melrose ordinary shares is GB00BNGDN821. The SEDOL for the new Melrose ordinary shares is BNGDN82.

As a result of the Melrose Share Consolidation and in accordance with the requirements of the Financial Conduct Authority’s Disclosure Guidance and Transparency Rule 5.6.1A, Melrose hereby notifies the market that Melrose’s issued share capital as at 8.00 a.m. on 20 April 2023 consists of 1,351,475,321 Melrose ordinary shares of 160/7 pence. Melrose does not hold any Melrose ordinary shares in treasury. Therefore, the total number of voting rights in Melrose as at 20 April 2023 is 1,351,475,321.

The above figure may be used by shareholders and others with notification obligations as their denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Melrose under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

The ordinary shares of Dowlais (ticker “DWL.L”) have been admitted today (20 April 2023) to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange’s main market for listed securities.

Simon Peckham, Chief Executive Officer of Melrose, commented: “We are very happy to complete today the demerger of Dowlais. We thank shareholders for their support. We are confident that Dowlais will have a very successful independent future led by Liam and his team. It has been a pleasure to be involved in the improvement of the Dowlais businesses.

For Melrose, the focus is now on the continued development of the Aerospace business which over the next few years has the opportunity to clearly establish itself as a leading focussed aerospace business making £1 billion of EBITDA.”[/i]

https://www.melroseplc.net/media/announcements/2023/completi…[/quote]