WANdisco plans $30m equity fundraise

Tess Egginton
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WANdisco plans $30m equity fundraise

Sheffield-based WANdisco, the data activation platform, is planning to launch an equity fundraise of $30 million.

In a statement to the London Stock Exchange, the company said that it is considering a range of funding options as it works towards the resumption of trading in the company’s shares on AIM.

It added: “Having reviewed the various options, the Board believes the most appropriate strategy is to launch an equity fundraise towards the end of June of $30 million to build balance sheet strength in order for the company to take advantage of the significant opportunities ahead.”

The company will commence a consultative process with investors to assess the potential for the proposed fundraise, balancing all the different priorities and risks.

WANdisco noted that the resumption of trading in the company’s shares on AIM will occur as soon as practicable, following careful consideration by the Board and in discussion with AIM Regulation, but that this will be after the completion of the proposed fundraise.

Ken Lever, chairman of WANdisco plc, said: “We have been working at pace to deal with the issues the company has faced and create a positive path forward. A lot has been achieved and I am particularly pleased to now have a world class CEO and CFO in place, who are both energised to see the company through this difficult period.

“Having now been in the business for some six weeks, there is no doubt in my mind that the company should have a very bright future given its differentiated technology. However, improvements across sales and marketing need to be made to properly take advantage of the opportunity.

“To do this, the business needs to be urgently properly capitalised and so today we are announcing our desire to raise $30 million towards the end of June. Unfortunately, much of this capital requirement is a direct result of the issues that led to our announcement on 9 March. On completion of the fund raise I believe that the company can have a bright future.”

In March, “significant, sophisticated and potentially fraudulent irregularities with regard to received purchase orders and related revenue and bookings, as represented by one senior sales employee, [were] discovered.” Earlier this month WANdisco revealed that it is undertaking a reorganisation and review process that will reduce the company’s global headcount by approximately 30%.

£12m awarded to fund new green energy scheme at Goole

Tess Egginton
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£12m awarded to fund new green energy scheme at Goole
A grant of £12m has been awarded to East Riding of Yorkshire Council to help fund a new green energy centre at Goole. The project could see the construction of the Goole Green Heat Network which will allow homes and businesses to ditch their oil and gas boilers in favour of cleaner, cheaper energy. The council’s scheme is one of seven low carbon projects across the country to be given a share of £91m in the Government’s biggest ever drive to fund greener ways to heat and power buildings. The Goole Green Heat Network is designed to extract waste heat from a nearby manufacturing plant and pump it to residents and businesses in the area. The network will provide heat to homes and businesses, including local council buildings, from 2024, cutting the town’s carbon emissions by 322,000 tonnes over 40 years and creating new skilled jobs during the construction stage. If approved by the council, construction could begin as early as next year. Alan Menzies, executive director of planning and economic regeneration at East Riding of Yorkshire Council, said: “We declared a climate emergency back in 2021 which has placed a significant focus on sustainability and climate change across the organisation. “The supply of cleaner, lower cost heat will not only reduce the council’s carbon emissions through the supply to a number of our buildings but also allow for residents and businesses to receive a financial saving, which at such a difficult time in the energy market, is vital. “The Green Heat Network Fund award is warmly received by the council and will ensure that our taxpayers’ money goes further.”

Yorkshire & Humber business activity growth quickens in April

Tess Egginton
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0
Yorkshire & Humber business activity growth quickens in April
The headline NatWest Yorkshire & Humber PMI® Business Activity Index – a seasonally adjusted index that measures the month-on-month change in the combined output of the region’s manufacturing and service sectors – rose to 52.5 in April, from 50.7 in March, signalling a stronger expansion in private sector business activity across Yorkshire & Humber. That said, the region was one of the weakest performers across the UK in April, lagging behind the national average once again. In fact, compared to the 11 other monitored parts of the UK, only the East Midlands and Wales registered weaker expansions. April survey data signalled a third successive monthly increase in new business received by private sector companies in Yorkshire & Humber. The improvement strengthened slightly and was the quickest since last August, but only marginal overall. The rise in new orders seen across the region continued to lag behind the UK as a whole. Compared to the other 11 parts of the UK monitored by the survey, only the East Midlands and Northern Ireland saw slower upturns. Private sector companies across Yorkshire & Humber remained firmly upbeat towards growth prospects over the coming 12 months, latest survey data showed. Furthermore, the level of positive sentiment strengthened slightly to an 11-month high. New product launches, investment plans and expectations of a gain in market share supported firms’ growth projections, according to anecdotal evidence. The seasonally adjusted Employment Index posted above the 50.0 no-change mark in April, signalling an expansion in staffing levels across Yorkshire & Humber. The rate of job creation quickened markedly since March to a solid pace that was the fastest since last September. Surveyed companies commented on the replacement of leavers and efforts to boost capacity. Private sector companies in Yorkshire & Humber registered a second straight monthly decline in the volume of outstanding business at the beginning of the second quarter. According to surveyed firms, subdued demand and increased capacity supported the catch-up on unfilled orders. Private sector businesses in Yorkshire & Humber were faced with another steep monthly rise in their operating costs during April. Salary expenses were noted as a key source of inflation by survey respondents. That said, the rate at which overall input prices increased was the slowest in just over two years, with downward pressures reportedly coming from raw material costs. Prices charged for goods and services by private sector firms in Yorkshire & Humber continued to increase at the start of the second quarter. Output prices were reportedly lifted to offset the impact of rising costs. The rate of inflation was steep and accelerated slightly from March’s 25-month low. Wales was the only monitored part of the UK to record a faster increase in charges than Yorkshire & Humber. Malcolm Buchanan, chair of the NatWest North Regional Board, said: “There were positive developments for Yorkshire & Humber businesses in April, with activity growth quickening and confidence improving. There was even a modest strengthening in demand conditions, and firms responded by boosting their staffing capacities. “That said, compared to other parts of the UK, the region’s performance is not so impressive. Growth was notably weaker than seen for the UK as a whole in April, with only the East Midlands and Wales recording weaker rates of expansion in business activity. “Meanwhile, although cost pressures eased further, they remained substantial, reportedly due to higher wage demands in response to the cost-of-living crisis.”

Keyland secures planning permission to transform North Bierley former water treatment works into industrial space

Tess Egginton
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Keyland secures planning permission to transform North Bierley former water treatment works into industrial space
Keyland Developments Ltd, the property trading arm of Kelda Group and sister company to Yorkshire Water, has secured planning permission from Kirklees Council for a circa 130,000 sq ft industrial development at its North Bierley Water Treatment works site in West Yorkshire. This second phase of work will see the southern end of former Water Treatment Works site transformed into a new commercial development. When combined with the Phase One development, which secured permission in 2016, the site will deliver just over 500,000 sq ft of new industrial and employment space. The scheme has the potential to deliver some 700 new jobs for the region, helping to address job shortages across West Yorkshire. After securing planning consent for Phase One, Keyland’s regeneration ambitions for the site resulted in a successful land sale to Opus North, who are currently on site delivering the ‘Interchange 26’. Located in a strategic position at the Chain Bar junction of the M62 and M606, the site is a significant element of the Kirklees economic strategy. This latest permission continues to reflect Keyland’s commitment to the regeneration of brownfield land. Matthew Turnbull, planning & development manager at Keyland Developments Ltd, said: “Securing planning permission for phase two at the North Bierley site is a major achievement. “This site will make a significant contribution to addressing the major shortfall in employment land across West Yorkshire, which is particularly acute in the western districts where a lack of land allocations and challenging levels make it harder for local businesses to find the space we need. “We are committed to making best use of the region’s brownfield resource to address local needs and this development will bring a number of economic advantages to the North Kirklees and South Bradford area.”

Men in Sheds gets £5,000 from John Good Group

Stuart Pearcey
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The John Good Group’s Grants for Good Fund has given £5,000 to Men in Sheds Hull, a charity working to reduce social isolation for older men, thanks to an employee vote.

The growing charity beat over 400 entries to be shortlisted in the top five, before capturing the hearts of John Good Group employees to attract the most votes.

Men in Sheds Hull aims to avoid detrimental health impacts of social isolation on older men by providing a safe and inclusive space for members to come together to undertake woodworking projects, offering social interaction and a sense of purpose in the community. As well as selling the products they create, the group regularly help other community organisations in the city, a recent project seeing them build garden furniture for a local community garden. The charity was started in 2014 by Barry Cooper, a retired chef from Hull who had suffered from multiple strokes, after he saw a documentary on TV about a project called Men in Sheds in Australia. After struggling through the pandemic, they recovered well, increasing their services, updating their board of trustees, and employing a new manager – Nick Todd. As result of their success, they have recently secured a grant from the National Lottery Community Fund that will help keep their doors open for the next three years. However, the services of the shed are in extremely high demand. Currently they are open four days a week with 46 active members, and 30 people on their waiting list. Equipment also regularly becomes worn and needs to be replaced or serviced, and there are ongoing costs for supplies such as wood, glue, screws and other equipment. Looking for help with these costs, they applied to Grants for Good. Donna Jackson, a Trustee of the charity, said: “We are so honoured to receive this funding and it’s really touching that so many of the John Good Group employees voted for us and made us this round’s winners. It will make such a difference to our members and volunteers. Our members are made up of people from all walks of life but with one thing in common, the shed. Some members are recently bereaved, others retired, many with physical and mental health issues. After the pandemic and its affects, there is now huge demand in the city of people who have and still do feel isolated and vulnerable.” Grants for Good is a charitable fund from the John Good Group that grants £60,000 annually to small community groups, charities or social enterprises that have a positive impact on people or planet. It is just one of the many CSR initiatives managed for the Group by the Matthew Good Foundation, whose mission is to amplify small charitable causes doing high-impact work that is often unseen and underfunded. Every quarter, the fund receives around 400 applications to receive a share of £15,000, with just five making the shortlist. John Good Group employees then vote on the final five to decide which organisations get the biggest share, with the winner of the employee’s vote receiving £5,000.  

Company joins North East Lincolnshire Council’s trusted trader scheme

Stuart Pearcey
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Company joins North East Lincolnshire Council’s trusted trader scheme
Grimsby firm GCW Flooring & Beds is the latest business to join North East Lincolnshire Council’s trusted trader scheme, approved and run by Trading Standards officers. Founded in 1945, the business has been passed through the generations as brothers Harvey, Myles and Andre Shaw have taken the reins from their father who took over from his father in 1975. “I have grown up in the business from a young age,” said Harvey. “From climbing and jumping on rolls of carpet after school, to working myself up from labourer, sales, manager to director. “We are proud to be a family business with strong values and trust, alongside a long history of proving quality flooring to our customers. We have always been dedicated to providing exceptional customer service and maintaining high standards.” As well as providing quality carpets and flooring, their bed department launched in 2022, which includes all sizes and qualities of mattresses, bed frames, headboards, ottomans and divans. Furthermore, Harvey explains that they will be launching their new sofa department in the summer. “Our customers will soon be able to find the perfect sofa to complement their new flooring,” he said. “We’re dedicated to providing customers with high quality and stylish home furnishings that will make their space feel like home and make GCW the one stop shop for all flooring, beds and sofas.” Asked why he decided to join the Buy With Confidence scheme, Harvey added: “I wanted to demonstrate our commitment to customer service and ethical business practices. I saw this as an opportunity to increase consumer confidence in our brand. “Being part of a trusted trader scheme means that our business has undergone a thorough vetting process to ensure that we meet the high standards of customer service and business practice. It gives our customers peace of mind, knowing they can trust us to provide an honest and quality service. “To other businesses thinking about signing up to the scheme, I would highly recommend it. Joining a trusted trader scheme like Buy With Confidence can differentiate your business from competitors and demonstrate your commitment to customer service. It’s an excellent way to build trust.”

York and North Yorkshire Chamber to launch award in memory of former President

Stuart Pearcey
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York and North Yorkshire Chamber to launch award in memory of former President
York & North Yorkshire Chamber of Commerce is to launch a prestigious new award in memory of its former president Andrew Digwood. Andrew died suddenly aged 46 in November last year after a short illness. His passing led to an outpouring of tributes from the region’s business community and his funeral at York Minster was attended by hundreds of well-wishers. To honour his legacy, the Chamber will launch the Andrew Digwood Award at the forthcoming York & North Yorkshire Chamber Annual Dinner on Wednesday May 24 at York Racecourse. The award will be given to a business or individual who has shown themselves to be inspirational and transformative in the region and an example to the next generation of young York leaders. Laurence Beardmore, president of York & North Yorkshire Chamber of Commerce, said: “Andrew’s passing left a void that the region can never replace. We as a Chamber felt it vital that we honoured his legacy for future generations to come. “The Andrew Digwood Award will be presented each year by the York & North Yorkshire president and, as the current holder of that position, it is my honour to announce that the official first recipient will be Andrew himself.”

Sheffield opens financial support scheme for firms replacing vehicles for Clean Air Zone

Stuart Pearcey
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Sheffield opens financial support scheme for firms replacing vehicles for Clean Air Zone
The retrospective financial support scheme for residents and businesses who have already upgraded their most-polluting vehicles is now live. The scheme is open to those who have already replaced a polluting vehicle, which would have been charged in the Clean Air Zone, for a low emissions alternative. This vehicle must have been purchased after October 26, 2021, when the decision to introduce a CAZ was formalised, and before the launch of the retrospective scheme on May 9 this year. Further details about the scheme, eligibility criteria, how much may be available to an applicant and a breakdown of who is unable to apply for financial support can be found on the Sheffield City Council website. The retrospective scheme will be open to applications for eight weeks and will close on Thursday 29 June. Applications for the retrospective scheme will be treated on a first-come-first-served basis. Vehicle owners of older non-compliant vehicles, based in Sheffield and Rotherham, who have yet to upgrade their vehicle can still apply for financial support to upgrade or replace a vehicle to meet Clean Air Zone standards. To be eligible for support applications must be submitted to and approved by the CAZ team prior to ordering or purchasing of the CAZ compliant vehicle. Local exemptions for Light Goods Vehicles and Hackney Carriage Taxi vehicles until June 2023 are ending soon. From Monday 5thJune, charges will apply to enter the CAZ unless the vehicle is compliant or has an alternative exemption, e.g. has a compliant vehicle on order and is waiting delivery.

York firm wins four awards at Energy Efficiency Event

Stuart Pearcey
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York firm wins four awards at Energy Efficiency Event
Another award-winning night for Green Building Renewables saw its East Midlands team collect four accolades at the Energy Efficiency Awards regional finals, with recognition in every category it entered. Regional Branch Manager Matthew Young won the region’s Business Development Manager of the Year, replicating Alex Walmsley’s success in the East of England Awards. The company also won recognition in three other categories with Commended awards in the East Midlands Solar Installer of the Year, East Midlands Heat Pump Installer of the Year and small-scale project for our ground source heat pump installation at Cheyney’s Lodge. The awards hosted at the Radisson Blue Airport Hotel in Derby were attended by over 150 industry professionals from across the region. Green Building Renewables was represented at the awards by colleagues from our regional office in Daventry. The awards celebrate those companies and individuals leading energy efficiency work across the UK, whether that be companies leading the way in renewable technologies and services or businesses installing energy efficient products that improve the fabric of buildings. MD Chris Delaney said: “This is another fantastic achievement for Green Building Renewables. It demonstrates perfectly that our local approach to building a nationwide network of regional experts in renewables is working. We succeed and deliver excellent customer service locally, and we can replicate this high-quality work nationwide. The success of the local team in the East Midlands follows on from the success we had in the East of England too. “The team in the East Midlands should be incredibly proud of their achievements. Matthew and his team continue to offer exceptional service and high-quality work to local customers. The feedback the team regularly receives in reviews on platforms like Trustpilot is outstanding. Congratulations to everyone involved. “Award ceremonies, like the Energy Efficiency awards, are a fantastic way to celebrate the people working in the industry. We hope to see further local success for the company at these and other awards in the future.”

Government needs to invest to restrain inflation, says BCC

Stuart Pearcey
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Government needs to invest to restrain inflation, says BCC
Reacting to the Bank of England decision to raise the base rate to 4.5%, BCC Head of Research, David Bharier has said the Govermen should invest in infrastructure, skills training, and global trade. He said: “The decision to raise the interest rate for the 12th consecutive time to the highest rate since 2008 shows the Bank is continuing to pull this lever hard as the rate of inflation remains stubbornly high. “The unprecedented and prolonged spike in inflation has been devastating for many small firms who have been struggling to absorb continued price rises. “But interest rate rises can also have serious negative effects too, particularly for firms looking to borrow to manage their cash flow problems. Our most recent Quarterly Economic Survey found that interest rates were a concern for 47% of hospitality firms. The combination of high interest rates and high inflation would mean the worst of both worlds for many small firms. “The UK Government should consider further action to break this vicious cycle by boosting economic growth.”
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