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FTSE 100 and marketplaces information: Boardroom wars rattle Dignity and Countryside

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FTSE 100 and markets news: Boardroom wars rattle Dignity and Countryside
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he activist shareholders stalking the boardrooms of Countryside Houses and fellow mid-cap inventory Dignity discovered out more about the progress of their campaigns today.

The relations at Countryside seem to be a minimal smoother just after the housebuilder currently declared a new chairman to exchange David Howell, who disclosed ideas to phase down very last yr amid tension to do so from Los Angeles-centered hedge fund Browning West.

Countryside mentioned previous Ferguson manager John Martin will take on the function, a transfer that is described to have the blessing of Browning West following the shareholder experienced previously named for a break-up of the small business and a role for its founder Usman Nabi.

FTSE 250 Countryside even now continues to be underneath strain, nevertheless, after it emerged yesterday that an additional US trader David Cash had improved its individual stake in aid of Browning’s ongoing marketing campaign for change. Shares rose 3.5p to 519.5p.

At Dignity, the funeral operator today provided a organization defence versus the tries by Phoenix Asset Administration to clear away Clive Whiley as chairman.

Proxy voting businesses such as ISS and Glass Lewis have backed Dignity by recommending shareholders vote subsequent 7 days in opposition to resolutions such as the try to set up Phoenix’s personal founder and chief investment officer Gary Channon as govt director.

Dignity mentioned today it was in the greatest interests of all shareholders to make it possible for the recent administration team to finish its perform in devising a new approach for the team.

Shares rose 4% or 25p to 669p today.

The developments arrived in the course of another lacklustre session for the wider London industry, with the FTSE 100 index down just 3.4 points at 6,885.85 and the FTSE 250 index up 42.94 points at 22,196.75. In distinction, bitcoin was at a different record significant following soaring to $62,645.

Recruitment business Hays was amid the risers in the 2nd tier, up 3% or 4.8p to 164.5p, after adhering to Website page Team in reporting greater-than-anticipated the latest buying and selling.

Indicators of additional progress in the turnaround of lender notice printer De La Rue failed to carry its share rate, which slipped 2.6p to 184.2p irrespective of the company revealing that revenue for 2020/21 will be toward the prime finish of the variety indicated in January.

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Citymapper crowdfunding marketing campaign soars previously mentioned £1 million concentrate on elevating £6.7 million in 24 several hours

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Citymapper launches first ever crowdfunding campaign and reveals expansion plans
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ity navigation application Citymapper unveiled on Friday that its 1st at any time crowdfunding round has elevated £6.7 million from retail buyers in just 24 hours.

The app, which ran the exertion on funding web-site Crowdcube, soared previous its £1 million concentrate on, securing the income from 9,000 investors spanning 80 nations around the world.

App basic manager, Bill Earner, who joined the start off-up in 2020 from the app’s London-based mostly VC Connect Ventures, informed the Normal “it was exciting and humbling to actually exceed our expectations”.

The get started-up, released in London in 2011 by former Google worker Azmat Yusuf as a way to locate out the best methods to navigate the funds on general public transportation, operates in 80 cities all over the earth and has over 50 million people.

It has raised £45 million from investors including Index Ventures and Balderton Capital to day, like new money from institutional investors last 12 months, and recorded a decline of practically £9 million on revenues of £5.8 million in 2019.

Its leadership had at first planned to start the crowdfunding spherical past spring, but delayed the shift when the pandemic strike and cities all around the environment ground to a halt. Citymapper admitted to potential buyer traders that at one stage previous yr approximately 90% of its end users stopped travelling.

The crowdfunding webpage explicitly instructed readers to “be sure to be informed that investing in startups is dangerous”.

The app stated its groups experienced spent the pandemic investing “in walking, cycling and micromobility, together with turn by transform instructions and voice navigation” – adding that it believes “it is a subject of time right before mobility will return”.

Ahead of the increase Earner mentioned he felt now was “a superior time to start” a crowdfunding spherical as metropolitan areas like London commence to bounce again, and immediately after executives have viewed metropolitan areas with low Covid prices and limitations, this kind of as Singapore, recover.

Citymapper provides a journey card, which expenditures £33 a month and gives limitless general public transportation in sections of London, and a “Club” perform which prices £2.99 per month.

Earner stated Citymapper ideas to use the newfound cash on many initiatives – including discovering “company alternatives”.

He stated: “We’ll continue on to develop our city protection, what we phone Citymapper Everywhere, with a aim of masking the most sizeable cities in the entire world.

“We have produced greatest-in-course technology in routing, transportation knowledge applications, and person interfaces. We want to make that know-how offered to other companies, so we are going to go on to make out that capability.

“We’ll proceed to make improvements to Pass, introducing options, integrating a lot more transport modes, and discover international expansion and corporate and business possibilities.”

It will come as fellow tech startup Curve also pursues a £1 million Crowdfund. Fintechs together with Monzo and Revolut have also accomplished crowdfunding rounds, which are thought to increase client retention and engagement.

Curve has raised £132million because launching in 2015, with with its Collection C fundraising securing £72.5 million this yr.

This week founder Shachar Bialick informed the Typical crowdfunding “makes it possible for us to improve evangelism in just our purchaser foundation”.

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