Mothercare calls for £100m cash September 23, 2014 BABY goods retailer Mothercare is raising £100m from shareholders to pay for store closures, revamp its business and pay off debt. Shares fell 1.7 per cent to 244p yesterday on the news. The business will issue £100m worth of new ordinary shares at 125p, a 34.2 per cent discount on Monday’s closing price. Around £40m [...]
Mothercare share price plunges on news of £100m rights issue September 23, 2014 Mothercare's share price has plunged after revealing plans to launch a £100m rights issue as it looks to fund a wide-ranging turnaround strategy. The business, which saw its share price fall by as much as 12 per cent this morning, will issue £100m worth of new ordinary shares at 125p, underwritten by Numis Securities, [...]
Mothercare share price tumbles 11pc as £266m Destination Maternity takeover bid ruled out July 28, 2014 Mothercare’s share price has taken a tumble this morning after a takeover bid by US chain Destination Maternity was ruled out. Shares opened 11 per cent down after the struggling babywear retailer said it was now “fully focused on the company's plan to turnaround the UK business and to continue its strong international growth. The [...]
Mothercare share price slumps as new boss warns chain needs nursing July 17, 2014 Shares in Mothercare slumped 8.7 per cent yesterday after the baby product group’s new boss warned that it was in need of an overhaul to compete with rivals. Mark Newton-Jones, who was made chief executive last week after four months serving as interim chief, said many of its practices were “outdated” when compared with other [...]
Mothercare’s American bidder Destination Maternity rattled by profit warning July 10, 2014 Destination Maternity saw its share price tumble more than eight per cent yesterday, weakening its proposal to take over Mothercare, after it issued a profit warning following weak third quarter sales. The US-based baby retailer, which made two attempts to take over British business Mothercare last week, warned that quarterly takings were “considerably weaker than [...]
Top Mothercare investors back rejection of Destination Maternity bid July 7, 2014 Two major shareholders in Mothercare have thrown their weight behind the baby products chain after it rebuffed a £270m takeover from US firm Destination Maternity last week. Fidelity – Mothercare’s second largest shareholder with a 12 per cent stake – and Allianz, which owns around four per cent have both spoken out against bid, describing [...]
Mothercare shares jump on £266m takeover bid July 2, 2014 US RETAILER Destination Maternity yesterday said that it would seek to hold talks with Mothercare’s board after revealing that it has had two takeover proposals rejected by the mother and baby products chain. Destination Maternity said Mothercare had rebuffed its first two written proposals and had “refused to engage” with the firm on its latest [...]
Mothercare share price surges 12pc after Destination Maternity takeover bid rejection July 2, 2014 Shares in baby goods retailer Mothercare have jumped by 11.8 per cent on the news that it rejected two takeover proposals from Destination Maternity. The US firm's latest offer was worth 300p per share, a 29 per cent premium on the company's closing price of 232.5p on 1 July. Destination Maternity first approached Mothercare in [...]
Shares jump at Mothercare but baby shop’s revenue still poorly May 22, 2014 MOTHERCARE shares jumped almost 17 per cent yesterday after the struggling baby products retailer posted slightly better than expected full-year profits. The company reported underlying profits before tax of £9.5m in the year to 29 March compared with £5.9m the previous year. However, this is still dramatically lower than the £17m that was previously forecast [...]
Mothercare share price jumps as profits beat expectations May 22, 2014 Shares in baby goods retailer Mothercare have surged by 15 per cent after the company reported earnings above expectations. Mothercare's lenders, HSBC and Barclays, also agreed to enlarge the company's debt facility to £100m – an increase of £10m. Profit before tax jumped 61 per cent to £9.5m for the year ended 29 March. 35 [...]