CITY WHISPERS: Sea lice firm no longer itching to leave London

Benchmark often flies under the radar despite being one of the largest companies on AIM.

It specializes in the world of aquaculture – perhaps its best-known product being medical treatments that kill sea lice in farmed salmon.

Last week it bucked a trend in which a slew of major companies – including building materials suppliers CRH and Kingspan – have exited or are threatening to exit the London stock market.

Benchmark is listed in both the UK and Norway, but was in talks to leave AIM in favor of a single Oslo listing.

In addition to last week’s results, the £300 million group revealed that it is staying put after discussions with shareholders.

The city needs all the help it can get — with companies like Okyo Pharma and iEnergizer being taken off the list last week.

So those on the fence, take heed Benchmark: you can stay anyway.

Deadlines for ‘Shut up or shut up’ loom

Since private equity powerhouse Apollo declined takeover bids for Wood Group and THG earlier this month, there has been more than a hint of skepticism about the deal in the City.

This week will be a critical time, with so-called ‘put up or shut up’ (PUSU) offering deadlines for two FTSE 250 companies. These require bidders to make a formal offer or step back for six months.

A consortium including CVC is circling payment group Network International, with a PUSU on Thursday, while Swedish private equity house EQT has until Friday to lay out its plans for animal drug maker Dechra Pharmaceuticals.

All eyes will be on these would-be private equity buyers in an otherwise relatively quiet four-day week. No pressure.

Lucan isn’t so lucky at Angus Energy

It’s already been a tough year for Angus Energy, the British oil and gas group led by Lord Lucan’s son.

The share price has fallen and it had to raise emergency money.

On the plus side, however, it has made progress on a major project in Lincolnshire, the Saltfleetby gas field.

But hedge fund GSA Capital Partners is betting its share could fall further and last week increased its short position against the £41m AIM-listed company.

This takes Angus’s shorts — albeit still less than 1 percent — to a new all-time high.

Ouch.

Capita would bounce back

Much of the talk about the next FTSE realignment – which will see companies promoted to and relegated from the major leagues of the London Stock Exchange – has focused on the possible fall from grace of online retailer Ocado.

Ocado seems likely to slide from the blue chips to the FTSE 250.

But one company was about to happily return to the mid-cap index: contractor Capita.

Despite a high-profile cyberattack in April that will cost it £20 million, analysts and the company say boss Jon Lewis’ turnaround is paying off.

But after years of being known around town as Cr*pita following a series of profit warnings, will this recast finally help shake off that long-held moniker?