Latest news with #RicardoPLC
Yahoo
12-06-2025
- Business
- Yahoo
Dimensional Fund Advisors Ltd. : Form 8.3 - RICARDO PLC
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BYA PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORERule 8.3 of the Takeover Code (the 'Code') 1. KEY INFORMATION (a) Full name of discloser: Dimensional Fund Advisors Ltd. in its capacity as investment advisor and on behalf its affiliates who are also investment advisors ('Dimensional'). Dimensional expressly disclaims beneficial ownership of the shares described in this form 8.3. (b) Owner or controller of interests and short positions disclosed, if different from 1(a):The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. (c) Name of offeror/offeree in relation to whose relevant securities this form relates:Use a separate form for each offeror/offeree Ricardo PLC (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: (e) Date position held/dealing undertaken:For an opening position disclosure, state the latest practicable date prior to the disclosure 11 June 2025 (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?If it is a cash offer or possible cash offer, state 'N/A' N/a 2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security. (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any) Class of relevant security: 25p ordinary (GB0007370074) Interests Short Positions Number % Number % (1) Relevant securities owned and/or controlled: 889,716 1.43 % (2) Cash-settled derivatives: (3) Stock-settled derivatives (including options) and agreements to purchase/sell: Total 889,716 * 1.43 % * Dimensional Fund Advisors LP and/or its affiliates do not have discretion regarding voting decisions in respect of 7,529 shares that are included in the total above. All interests and all short positions should be of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions). (b) Rights to subscribe for new securities (including directors' and other employee options) Class of relevant security in relation to which subscription right exists: Details, including nature of the rights concerned and relevant percentages: 3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt currency of all prices and other monetary amounts should be stated. (a) Purchases and sales Class of relevant security Purchase/sale Number of securities Price per unit (b) Cash-settled derivative transactions Class of relevant security Product description e.g. CFD Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position Number of reference securities Price per unit (c) Stock-settled derivative transactions (including options) (i) Writing, selling, purchasing or varying Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit (ii) Exercise Class of relevant security Product description e.g. call option Exercising/ exercised against Number of securities Exercise price per unit (d) Other dealings (including subscribing for new securities) Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable) 4. OTHER INFORMATION (a) Indemnity and other dealing arrangements Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state 'none' None (b) Agreements, arrangements or understandings relating to options or derivatives Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:(i) the voting rights of any relevant securities under any option; or(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:If there are no such agreements, arrangements or understandings, state 'none' None (c) Attachments Is a Supplemental Form 8 (Open Positions) attached? NO Date of disclosure 25 June 2025 Contact name Thomas Hone Telephone number +44 20 3033 3419 Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service. The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129. The Code can be viewed on the Panel's website at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
11-06-2025
- Business
- Globe and Mail
Montreal's WSP strikes deal to buy Britain's Ricardo for $670-million
Canadian engineering giant WSP Global Inc. WSP-T has struck a deal to buy British transport and energy consulting firm Ricardo PLC as it steams ahead with a growth strategy that shows no signs of slowing. WSP is offering to pay 430 pence per share in a deal worth 363.1-million pounds including debt (about $670-million at current exchange rates), the Montreal-based company said in a statement Wednesday. That's a takeover multiple of 10.4 times earnings before interest, taxes, depreciation and amortization in 2024 for Ricardo's continuing operations, WSP said. WSP said it has won support for the deal from all of Ricardo directors as well as major shareholders representing about 48 per cent of Ricardo's issued share capital. It will pay for the takeover with a new 230 pound ($425-million) loan facility arranged by Royal Bank of Canada as well as cash on hand and existing credit. The acquisition is only the latest in a wave of deals by the WSP as chief executive Alexandre L'Heureux reshapes what was once a boutique engineering business into a company with a global reputation and multipronged capability. Its market capitalization now stands at about $36-billion. The industry is consolidating as projects become larger and more complex while design companies – which include engineering and architecture outfits and planners – navigate technological change, the CEO has said. That could present more opportunities, he said. Ricardo, which employs about 2,700 people, has been shifting its business in recent years toward a focus on environment and energy services such air quality and water management in addition to rail and mass transit. It also has another business unit in automotive and industrial services that will likely be sold, WSP said. 'We are constructive on the proposed transaction at first blush as it is set to accelerate WSP's expansion in targeted high-growth areas,' Raymond James analyst Frederic Bastien said. Ricardo also comes at a reasonable price and appears to match up well with WSP's existing operations, he said. WSP, perhaps best known for its transportation projects and super-skinny skyscrapers, last year won the largest contract in its history. It will provide its expertise for Britain's Great Grid Upgrade, the biggest overhaul of the electricity network in England and Wales in decades.
