Numis at a glance

Latest Transactions
Arrow Global
£563m
Recommended £563m cash offer from Sherwood Acquisitions Limited (a newly formed company owned by investment funds managed by TDR Capital LLP)
March 2021
Fuller Smith and Turner
c.£53.6m Placing
ABB of new ‘A’ Ordinary Shares for Fuller, Smith & Turner Plc, to raise gross proceeds of c.£53.6m (c.20% of issued ‘A’ share capital)
March 2021

Articles

01
Apr 2021
Debt Advisory Update
It was my father’s 80th birthday yesterday and, as we couldn’t have a proper party, we were talking on Zoom about how the world has changed in his lifetime.
He spent his career in computing and appropriately 1941 saw the invention of the Z3, the first ‘real’ computer.  This was invented in Germany but dismissed by the Nazis as not “war-important”, and then unfortunately destroyed in a Berlin air raid in 1943.  Not every good idea is recognised straight away, as Clive Sinclair found out in 1985 with his forerunner to the now-ubiquitous electric scooters.
I also listened to Epsilon Theory’s podcast about leverage in Archegos, Gamestop / Melvin Capital and Greensill – highly recommended.
 
25
Mar 2021
Debt Advisory Update
I’m hoping at least someone has noticed the slight delay to this ‘weekly’: in a busy week, I’ve made Voltaire’s mistake of letting the best be the enemy of the good (or at least, ‘something acceptable’), otherwise known as forgetting the 80:20 rule.
This week: be glad you’re not the pilot of the Ever Given ship, currently impossibly stuck in the Suez Canal like Douglas Adams’ sofa.
17
Mar 2021
The Children's Challenge
The inaugural London to New York Virtual Challenge ran between the 22nd February to the 7th March and was a huge success.
15
Mar 2021
Debt Advisory Update
On the anniversary that the pandemic was declared by the WHO, the ONS changed its inflation basket this week.  In: hand sanitiser, men’s jogging bottoms and dumbbells.  Out: work canteen sandwiches, ground coffee and white chocolate.
08
Mar 2021
Debt Advisory Update
Today marks the end (for now at least) of homeschooling, proof that teachers have more effective authority over children than their parents.
Something a little different this week: the Greensill / GFG story has been front page news of the FT for 5 days out of 6, and I’ve been fascinated by Greensill for years, so I thought I’d focus on this.