RWI Renewi

Renewi plc: Holding(s) in Company

Renewi plc (RWI)
Renewi plc: Holding(s) in Company

25-March-2021 / 15:32 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


TR-1: Standard form for notification of major holdings

1. Issuer Details

ISIN

GB0007995243

Issuer Name

RENEWI PLC

UK or Non-UK Issuer

UK

2. Reason for Notification

An acquisition or disposal of voting rights

3. Details of person subject to the notification obligation

Name

Sterling Strategic Value Fund S.A., SICAV-RAIF

City of registered office (if applicable)

Luxembourg

Country of registered office (if applicable)

Grand Duchy of Luxembourg

4. Details of the shareholder

Is the shareholder the same as the person subject to the notification obligation, above?

Yes

Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above

 

City of registered office (if applicable)

 

Country of registered office (if applicable)

 

5. Date on which the threshold was crossed or reached

23-Mar-2021

6. Date on which Issuer notified

25-Mar-2021

7. Total positions of person(s) subject to the notification obligation

.

% of voting rights attached to shares (total of 8.A)

% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights held in issuer

Resulting situation on the date on which threshold was crossed or reached

5.96%

 

5.96%

47,656,231

Position of previous notification (if applicable)

6.06%

 

6.06%

 

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

8A. Voting rights attached to shares

CLASS/TYPE OF SHARES ISIN CODE(IF POSSIBLE)

NUMBER OF DIRECT VOTING RIGHTS (DTR5.1)

NUMBER OF INDIRECT VOTING RIGHTS (DTR5.2.1)

% OF DIRECT VOTING RIGHTS (DTR5.1)

% OF INDIRECT VOTING RIGHTS (DTR5.2.1)

GB0007995243

47,656,231

 

5.96%

 

Sub Total 8.A

47,656,231

5.96%

8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

TYPE OF FINANCIAL INSTRUMENT

EXPIRATION DATE

EXERCISE/CONVERSION PERIOD

NUMBER OF VOTING RIGHTS THAT MAY BE ACQUIRED IF THE INSTRUMENT IS EXERCISED/CONVERTED

% OF VOTING RIGHTS

 

 

 

 

 

Sub Total 8.B1

 

 

 

8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))

TYPE OF FINANCIAL INSTRUMENT

EXPIRATION DATE

EXERCISE/CONVERSION PERIOD

PHYSICAL OR CASH SETTLEMENT

NUMBER OF VOTING RIGHTS

% OF VOTING RIGHTS

 

 

 

 

 

 

Sub Total 8.B2

 

 

 

9. Information in relation to the person subject to the notification obligation

1. Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.

Ultimate Controlling Person

Name of controlled undertaking

% of voting rights if it equals or is higher than the notifiable threshold

% of voting rights through financial instruments if it equals or is higher than the notifiable threshold

Total of both if it equals or is higher than the notifiable threshold

 

 

 

 

 

10. In case of proxy voting

Is there proxy voting?

No

Name of the proxy holder

 

The number and % of voting rights held

 

The date until which the voting rights will be held

 

11. Additional Information

 

12. Date of Completion

25-Mar-2021

13. Place Of Completion

LUXEMBOURG



ISIN: GB0007995243
Category Code: HOL
TIDM: RWI
LEI Code: 213800CNEIDZBL17KU22
Sequence No.: 96317
EQS News ID: 1178595

 
End of Announcement EQS News Service

fncls.ssp?fn=show_t_gif&application_id=1178595&application_name=news&site_id=research_pool
EN
25/03/2021

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Renewi

Renewi: 1 director

A director at Renewi bought 19,500 shares at 7.735EUR and the significance rating of the trade was 55/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing...

Joren Van Aken
  • Joren Van Aken

Renewi - Hoping for a tender offer

We downgrade from Buy to Hold as in our view management did not deliver on their promises and destroyed shareholder value in recent yearsThe company overpaid on the UK Municipal divestment in our view and the ramp up at ATM is going slower than previously guided. We also expect Renewi to miss its FY28 revenue target by 30%The best outcome for shareholders therefore would be a takeover by either a PE player or strategic acquirer. As hoping for a tender offer is not really the foundation for a sol...

Joren Van Aken
  • Joren Van Aken

Renewi - Results slightly below, but ATM & UK more important

Results were slightly below expectations on revenue & EBIT levelUK Municipal to be sold at EUR 154m, a value-destructive price in our viewATM TGG inventory going down slower than expectedReinitiation of dividend at EUR 0.05 p/s, below CSS and DPeOverall we are quite disappointed. We do not believe the EUR 154m is an attractive price and expect investors to be disappointed. We put our rating and TP under review. We also remove Renewi from our Preference List.

Joren Van Aken
  • Joren Van Aken

Renewi - FY24 trading update but nothing new on UK Municipal or TGG

• Renewi issued its trading update confirming it “remains on track for announcement by 30 June 2024” for the UK Municipal business. A ‘modest' dividend will be proposed for FY24, as guided at H1• Management confirmed that results would be in line with consensus. We are slightly below consensus currently. No info on progress of TGG sales, which may be disappointing• Overall, the trading update had nothing in it that impacts the investment case of Renewi. Our investment case is based on 1) a ...

Joren Van Aken
  • Joren Van Aken

Renewi - Challenging market conditions forcing warning

Market conditions continued to be challenging, especially in the Netherlands which could not be fully offset by mitigating actions Consequently, Renewi warned that FY24 results would be below market expectations. We were already below market expectations. Hence, we expect to change our estimates only modestlyWe maintain our Buy rating, as our investment case is based on the expected actions, which could double profitability   

ResearchPool Subscriptions

Get the most out of your insights

Get in touch