Melrose Industries Plc #MRO announced that the company has now agreed amended arrangements with its banking syndicate including improved financial covenants to 31 December 2022. Beyond that date the Group reverts to the original covenants for the balance of the facilities' term. These amendments cover all the Group's primary borrowing arrangements that contain financial covenants. The Group's committed £3.2 billion revolving credit facility is repayable in January 2023 and the Group's committed term loan of £0.9 billion can be extended to April 2024 at company’s option.
£3.2 billion revolving credit facility is repayable in January 2023 and the Group's committed term loan of c. £0.9 billion can be extended to April 2024 at Melrose's option. In addition to these committed banking lines the Group has two bonds: a £450 million bond maturing in September 2022 and a £300 million bond maturing in May 2032, neither of which...
Melrose Industries Plc #MRO announced the following trading update for the half year period ended 30 June 2020 (the Period) prior to the publication of its interim results. All numbers are calculated at constant currency. The Period covered by the trading update has been extraordinary. For part of this Period the Automotive and Powder Metallurgy businesses had factories that were largely closed in Europe and the Americas, and the Aerospace and Nortek businesses had factories which were largely open but with hugely reduced requirements. As a consequence, its Board cancelled the final dividend due in May 2020, negotiated waivers for its EBITDA to net debt covenant for June and December 2020, and focused the Group on cash generation. In the Period Group revenue declined by 27% which was reflective of trading in line with expectations until mid-March 2020 followed by a steep decline in the second quarter. The focus on cash and reducing working capital has some detrimental effect on profitability for the year. While the COVID-19 crisis has been challenging for all its businesses, the Group has sought to protect investment in R&D and continue to develop world leading technologies.
For part of this Period the Automotive and Powder Metallurgy businesses had factories that were largely closed in Europe and the Americas, and the Aerospace and Nortek businesses had factories which were largely open but with hugely reduced requirements. £200 million of free cash flow, before restructuring costs and the acquisition of Forecast 3 D in...
RNS Number: 0099 P Melrose Industries PLC 04 June 2020 4 June 2020. Notification of Transactions of Persons. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 1175 O Melrose Industries PLC 28 May 2020 28 May 2020. The Company announces that it was informed that Charlotte Twyning, Non-executive Director, bought 14,000 Ordinary Shares of 48/ 7 pence each in the Company on 26 May 2020 at a price of 101.77 pence per share. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in...
RNS Number: 8305 M Melrose Industries PLC 14 May 2020 14 May 2020. The Company announces that it was informed that Liz Hewitt, Non-executive Director, bought 23,000 Ordinary Shares of 48/ 7 pence each in the Company on 13 May 2020 at a price of 87.24 pence per share. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the...
RNS Number: 3044 M Melrose Industries PLC 07 May 2020 7 May 2020. Results of Annual General Meeting. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Melrose Industries Plc #MRO Announced, in its trading update for the four months from 1 January 2020 to 30 April 2020, that the group traded in line with expectations from 1 January 2020 until mid-March 2020. Further, COVID-19 caused significant disruption, resulting in many factories being shut or remaining only partially open. Also, group sales in the period were down approximately 20% versus the same period last year.
RNS Number: 1884 M Melrose Industries PLC 07 May 2020 7 May 2020. Capital expenditure and trade working capital actions alone are forecast to deliver approximately £200 million of cash savings in the second quarter.. Melrose started the year with approximately £1 billion of committed bank facility headroom and due to the excellent results of the cash...
RNS Number: 1790 M Melrose Industries PLC 06 May 2020 The following amendment has been made to the holdings in company announcement released on 5 May 2020 at 16:10 under RNS No 0155 M.. The filing incorrectly stated the number of shares as being below 5% and as such the correct position has now been identified as 5.27%.. RNS is approved by the Financial Conduct...
RNS Number: 0155 M Melrose Industries PLC 05 May 2020 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 0154 M Melrose Industries PLC 05 May 2020 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 7376 L Melrose Industries PLC 04 May 2020 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 7256 L Melrose Industries PLC 01 May 2020 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 2233 L Melrose Industries PLC 28 April 2020 28 April 2020. In accordance with Listing Rule 9.2. 6 E, Melrose Industries plc has uploaded to the National Storage Mechanism a copy of its Articles of Association, which set out amongst other things the principal rights and restrictions attached to its ordinary shares. RNS is approved by the Financial...
RNS Number: 7382 J Melrose Industries PLC 15 April 2020 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 4714 J Melrose Industries PLC 14 April 2020 TR-1: S tandard form for notification of major holdings. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
The Company's AGM will be held at 11.00 a.m. on 7 May 2020 at Leconfield House, Curzon Street, London W1J 5 JA. PLEASE NOTE THAT IN LINE WITH UK GOVERNMENT GUIDANCE AT THE TIME OF PUBLICATION OF THE NOTICE OF AGM, THE COMPANY URGES ALL SHAREHOLDERS NOT TO ATTEND THE AGM IN PERSON, BUT TO MAKE USE OF PROXIES TO EXERCISE THEIR VOTING RIGHTS AND TO SUBMIT ANY QUESTIONS PRIOR...
Melrose maintained the Melrose Group headquarters in the UK by Melrose occupying a designated area in one or more buildings in the UK, one of which buildings was publicly designated as the Melrose Group headquarters and was the registered office of Melrose;. the Melrose Shares remained listed on the Official List maintained by the UKLA and admitted to trading...
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Company Profile

Melrose, a specialist manufacturing investor, first floated on AIM in 2003 with the strategy of acquiring businesses whose operational performance can be improved to create shareholder value. The group moved to London's main exchange in December 2005.

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