Today's corporate news saw significant capital market activity, with WPP successfully pricing a €1 billion bond issuance and Futura Medical completing a key fundraise. Major structural changes were also announced, including Petershill Partners' court approval for a substantial return of capital ahead of delisting, and Spectris receiving sanction for a private equity takeover. Operational highlights included Petards Group securing a £2.2 million defence contract and RentGuarantor strengthening its executive team, while Barclays demonstrated robust financial health by comfortably passing the Bank of England's stress test. Separately, Mobile Streams provided an RTO update, though it also disclosed a governance lapse regarding unnotified director bonuses.
WPP WPP, the global advertising and marketing services company, successfully priced a €1,000 million senior unsecured fixed-rate bond issuance. The 5.5-year bonds will carry an annual coupon of 3.625% and saw significant demand, with an order book exceeding €2.9 billion, indicating strong investor confidence. The company plans to use the net proceeds for general corporate purposes, including refinancing existing indebtedness as part of its financing strategy.
Petershill Partners PHLL announced it has received court approval for its US$921 million return of capital, which will be implemented through a UK Court-sanctioned scheme of arrangement. This significant corporate action also includes the cancellation of the company's ordinary shares from both the Official List and trading on the London Stock Exchange. The delisting and capital return represent a major strategic shift, concluding its public market journey in this format.
Spectris SXS announced that its recommended cash acquisition by Project Aurora Bidco, a vehicle associated with KKR investment funds, has received court sanction. The deal offers Spectris shareholders £41.75 per share, including a cash component and an interim dividend. This development marks the final stage for the significant private equity takeover, moving Spectris from public ownership.
Ithaca Energy ITH announced its second interim dividend for 2025, amounting to $133 million, or $0.0804 per ordinary share. Shareholders on the register by 28 November 2025 will receive 6.0757 pence per share on 18 December 2025, following the conversion of the US dollar dividend to Sterling. This declaration underscores the company's commitment to returning value to its investors.
RentGuarantor Holdings RGG, a provider of rent guarantee services, announced a strategic enhancement to its executive team with Chief Financial Officer Kieron Becerra moving to a full-time position. This transition is a direct response to the company's growth plans, which were detailed in a recent fundraising announcement. The appointment aims to bolster leadership capacity for its expansion in the UK private rental sector.
Futura Medical FUM, the consumer healthcare group behind Eroxon, announced that shareholders approved all resolutions at its General Meeting, confirming the proposed placing and subscription. This approval fulfills the necessary conditions for the fundraise, allowing the company to proceed with issuing new shares and securing vital capital. The successful fundraise is expected to support the company's ongoing development and commercialization efforts for its innovative sexual health products.
Mobile Streams MOS provided an update on its Reverse Takeover, confirming that work on the acquisition of Estadio Gana and CMS is progressing. Separately, the company disclosed a breach of AIM Rule 13 by awarding unnotified director bonuses totaling £295,290 in February 2025. Mobile Streams will seek shareholder ratification for these payments, highlighting a governance oversight alongside its strategic ambitions.
Petards Group PEG announced that its subsidiary, Petards Joyce-Loebl, has been awarded a £2.2 million contract by Rheinmetall BAE Systems Land. The contract specifies initial engineering design and obsolescence management services for the British Army's Challenger 3 Upgrade Programme. This substantial order represents the largest defence engineering services contract for Petards in many years, signaling strong future involvement in critical military projects.
Barclays BARC announced it has comfortably passed the Bank of England's 2025 bank capital stress test, confirming its robust and resilient balance sheet. Under the severe hypothetical scenario, Barclays maintained a common equity Tier 1 ratio of 8.8% before strategic management actions, exceeding the minimum requirement of 7.2%. This result demonstrates the bank's strong capital position and its ability to absorb shocks, similar to other major UK banks that also reported passing the same rigorous test.