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LSL withdraws from Countrywide takeover talks and confirms ‘no offer’

first_imgThe much anticipated takeover of Countrywide by LSL has been called off following a short statement to the City this morning.After confirming that it had been in discussions with its competitor since February 24th, LSL has said that: “LSL today confirms that it does not intend to make an offer for Countrywide”.The abrupt end to discussions comes a week before the 23rd March deadline when LSL had to make an offer or withdraw under London Stock Exchange takeovers and mergers rules.Several sticking points have emerged in recent days that may have scuppered the deal.These include the collapse of Countrywide’s attempt to sell of its commercial property arm Lambert Smith Hampton, which got in to difficulties after Monaco-based buyer John Bengt Moeller experienced difficulties finding the required finance to complete the deal.And in an interview recorded last week and seen by The Negotiator, former Countrywide lettings boss John Hards suggested one of the other contentious sticking points would have been who sat on the board of the merged entities.Hards also says that LSL would have carried out a comprehensive review of the Countrywide brands and, although he believed it would not have lead to significant brand closures or sell-offs for commercial reasons, The Negotiator understands that it is likely that any ensuing CMA investigation into the merger would have identified many areas where the two organisations were keen rivals.LSL would also have been concerned by Countrywide’s debt. Part of its plan to sell off LSH was to raise £38 million to reduce its reported £100 million debt.Countrywide statement“As announced by Countrywide on the 11th March, the Company has been seeing the benefits from its ‘Back to basics’ turnaround plan, with continuing operations having returned to growth in profitability.  The Board of Countrywide remains confident in the strength of the underlying business as an independent Company. “The Company has seen a positive mood swing in public sentiment through the early part of 2020 which we have seen reflected in a strong start in agreed sales which are ahead of the Board’s expectations through February 2020.  Whilst we have seen some softening in recent days as a result of Covid-19, it is too early to assess that impact.”John Hards LSL Countrywide March 16, 2020Nigel LewisOne commentAndrew Stanton, CEO Proptech-PR Real Estate Influencer & Journalist CEO Proptech-PR Real Estate Influencer & Journalist 16th March 2020 at 8:48 amCountrywide’s demise: be certain that is where we are, has come about in a predictable manner, and can be pinned on one factor mismanagement from the top. For well over 18 months I have been, and many others also have been screaming that someone needed to take the helm and steer this huge vessel away from the rocks. Reaction from the c-suite, carry on as though everything is normal.Well the three year plan for sure is well under way, it is a shame that it was just like its author, misguided, out of step and lacking any merit. Maybe this week will see some long overdue resignations, then again that would take introspection, and ownership of the abject failure that is now Countrywide, the financially wounded Dinosaur that failed to listen, or adopt the Proptech Revolution.Great management coupled with technology digitally transforming processes, creating lasting efficiencies, with 10,000 people in the business, Countrywide should have been a model of modern real estate industry, instead it will stand as a lasting blueprint of how not to do agency.A warning for any other Dinosaur businesses, modernise, and do business in a manner that your clients want to do business, and that starts and ends with a mobile phone, yes it is a people business, but those people are transacting their lives through a digital prism.Log in to ReplyWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Agencies & People » LSL withdraws from Countrywide takeover talks and confirms ‘no offer’ previous nextAgencies & PeopleLSL withdraws from Countrywide takeover talks and confirms ‘no offer’LSL has told the City this morning that it no longer intends to proceed with its plan to make an offer for its rival.Nigel Lewis16th March 20201 Comment2,770 Viewslast_img read more

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HMAS Success Supports Maritime Security Ops

first_img Authorities Share this article Back to overview,Home naval-today HMAS Success Supports Maritime Security Ops HMAS Success Supports Maritime Security Ops The Royal Australian Navy’s oiler and replenishment ship HMAS Success has been very busy lately, not only delivering vital fuel and other goods to warships operating in the Middle East, but also delivering key operational effects under the Canadian-led Combined Task Force 150 (CTF-150).Captain Nick Stoker from the Royal Australian Navy is currently the Deputy Commander of CTF-150. He said:Multi role, highly capable ships such as HMAS Success can undertake a wide range of missions with great efficiency and flexibility.For example, HMAS Success has provided outstanding support to counter-terrorism operations while continuing to deliver in her primary role as a replenishment oiler for Task Force 53.HMAS Success is patrolling the Middle East’s busiest waterways in support of maritime security operations. The ship helps to ensure security, safety and freedom of navigation for commercial shipping in international waters, as well as building positive relations with local fishermen and merchants, developing CTF-150’s understanding of the maritime environment in the region.HMAS Success is contributing to CTF-150’s focused efforts to intensify maritime security and counter-terrorism operations in order to deter and disrupt terrorist organisations from making illicit uses the seas to conceal their movements and funding.Image: CMF View post tag: Australian Navy View post tag: Naval View post tag: Maritime View post tag: Supportscenter_img View post tag: HMAS Success View post tag: Navy February 3, 2015 View post tag: Ops View post tag: Security View post tag: middle east View post tag: News by topiclast_img read more

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Naughty Professor’s Van Stolen In New Orleans, Band Launches GoFundMe Campaign

first_imgOne very small consolation is that Naughty Professor won’t need their tour van all that much for some time. The group plans to spend the month of June working on new music in their hometown, but they do have a few American dates—including a set at Camp Bisco—scheduled for mid-July. After that, the band will embark on its first European tour, though the dates for that have not yet been revealed.Nevertheless, losing van is a huge blow to any group of touring musicians, especially a band like Naughty Professor that makes most of its money on the road. Please consider donating to these talented musicians as they work to recover from this awful theft, and don’t hesitate to report any information on the whereabouts of their van to the band or the proper authorities.Another way can support the band is by purchasing some merch or a copy of their fantastic 2017 album, Identity. Released in the summer of 2017, the 12-track album features guest appearances by Chali 2na, Ivan Neville, Mike Dillon, Eric “Benny” Bloom, members of The Soul Rebels, and many more. And, of course, make sure to check out Naughty Professor when they come to a stage near you. New Orleans jazz-funk sextet Naughty Professor became the latest band to fall victim to thieving assholes when their tour van was stolen early Monday morning. The van, which serves as the group’s primary mode of transportation, was parked along Banks Street in New Orleans’ Mid-City neighborhood at the end of the night on Sunday, June 3rd, following their show at the New Orleans Oyster Festival. Unfortunately, the vehicle was nowhere to be found when the band returned around 7:30 am on Monday, June 4th.Naughty Professor has launched a GoFundMe campaign to help them get back on the road, though they’re optimistic the van can be found and hope to never have to use any of the money they raise (they’ll give it back to their supporters if they find the van).“We got this van in the Spring of 2016 and it has been essential to our growth as a band and our livelihood as individuals,” says Naughty Professor drummer Sam Shahin. “We’ve taken it to all four corners of the country—Bellingham/Seattle, Washington; Burlington, Vermont; San Diego, California; and Key West, Florida—and we’ve probably put a hundred thousand miles on it in the two years we’ve had it.”“There are few silver linings in this,” Shahin adds. “There wasn’t much gear in the van—mostly drum hardware and practice instruments. And the fact that, after Oyster Fest, we don’t have another out of town gig until July feels serendipitous and allows us to focus our efforts on finding it, so we’re optimistic.”Here’s a description of the van, along with a few photos:2012 Ford E-350 15 passenger van (no stickers/identifiers other than slight damage to rear right taillight) License Plate: Louisiana 120 AAH Any information on the whereabouts can be directed to [email protected]ail.com or the NOPD (Police Report #: F-04005-18)last_img read more

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DILG-Bacolod to check road clearing in 61 villages

first_imgDILG city director Ma. Joy MaridethMadayag said she will deploy validating teams to inspect the efforts of villageheads and officials in reclaiming and clearing of roads. “Barangay and city officials must takethe clearing operations seriously,” she stressed. Leonardia earlierreminded all village heads and officials in this city to “impose theirauthority” in implementing the order to reclaim public roads being used forprivate purposes. BACOLOD City – The Department of theInterior and Local Government (DILG) in this city will conduct surpriseinspection of 64 barangays here, to check on their compliance on President RodrigoDuterte’s order to clear the roads within their jurisdictions of obstructions. “We enjoined all local DILG heads toencourage the public to send pictures of illegal structures and other roadobstructions to their official social media page for proper action,” she added. DILG’s regional office, according toMadayag, will closely monitor the highly-urbanized cities first. “We’ve seen significant progress,” themayor added. Executive Assistant Butch Soliguen,who heads the barangay cluster, said the 14 compliant communities did not haveas much to clear as other barangays. Mayor Evelio Leonardia, for his part,said the city’s compliance is now 80 percent. Earlier, the city government reportedat least 14 of the 61 barangays are 100-percent compliant with the roadclearing operation. These villages include Barangays 8, 9, 10, 18, 22, 23, 24,31, 37, Felisa, Mandalagan, Montevista, Villamonte, and Vista Alegre. Sept. 29 is thelast day of the 60-day ultimatum that President Rodrigo Duterte gave localchief executives throughout the country to reclaim all public roads being usedfor private ends./PNlast_img read more

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Great Success of BH Company: Bosnian Football Boots for the World Cup

first_imgThe shoe factory “Sanino” from Prnjavor produced football boots for referees at the World Cup in Russia this year.Football boots are produced in a factory that is doing business with German Adidas for the last 18 years and this is the first time for the world giant to let the entire production of sports footwear to take place in this BH company.A total of 36 main and 63 additional referees will be running in football boots produced in BiH at the World Cup, which will take place from June 14 to July 15.The head of production at Sanino, Sanja Pazurevic, said that 351 pairs of football boots were made for the upcoming World Cup, and that they produced more than 12.5 million pairs of football boots for Adidas so far.This production of football boots for the World Cup was slightly different from previous orders of Adidas, because the entire work was completed in BiH, and there was no complaints.Factory Sanino, a partner of the German Adidas in BiH that is located in Derventa and Prnjavor, employs 900 people.(Source: Radiosarajevo.ba)last_img read more

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