Co-founders of Game PLC expected to gain $53.5 million in flotation

Article Abstract:

Game PLC's flotation on the London, UK, stock market in the first week of June 1998 will make the company's three co-founders gain 32.7 million pounds sterling, or $53.5 million. The UK computer games retailer's three co-founders, led by its chairman, Neil Taylor, will sell an estimated 50% of their existing 48.6% interest in a placement of 200-pence-per-share. A holding of 22.65% in Game PLC will be retained by the three co-founders, assessing the retained holding at 33.5 million pounds sterling at the placing value. The planned flotation will make Game PLC generate 8.5 million pounds sterling, which will be used to fund the company's expansion programs.

Comment:

Its flotation on the London stock market in first week of 6/98 will make this co's 3 co-founders gain GBP32.7 mil, or $53.5 mil

Management development, Hobby, Toy & Games Stores, Hobby, Toy, and Game Stores, Game PLC

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Harvey Nichols posts 17% gain in pretax profit

Article Abstract:

Harvey Nichols Group PLC listed an increase of 17% in full-year pre-tax profit to 14.1 million pounds sterling for the year ended Mar. 28, 1998 from 12.1 million pounds sterling a year before. The upscale retailer also listed a 13% sales increase to 128.5 million pounds sterling for the same period from the year before, indicating that its search for a Scotland, UK, store site is nearly ending. Harvey revealed in its earnings statement that its two new operations which surpassed internal projections contributed to the gains.

Comment:

Listed a full-year pre-tax profit gain of 17% to GBP14.1 million for the year ended 3/28/98 from GBP12.1 million a year before

Harvey Nichols and Company Ltd.

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Debenhams posts 3% gain in pretax profit

Article Abstract:

Debenhams PLC posted a 3% rise in its pretax profits for the six-month period ending on February 27, 1999. The company's profits were higher than what analysts had predicted. Debenhams is a department store chain based in the UK. The company's profits rose to 79.4 million pound sterling ($127.9 million) for the first half of the year. During the same period in 1998, Debenhams posted 77.1 million pound sterling.

Comment:

Posts 3% rise in pretax profits for six-month period ending February 27, 1999

Finance, Abstract, Debenhams PLC

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