Frasers Group commences new share buyback programme

Tess Egginton
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Frasers Group commences new share buyback programme

Shirebrook-based Frasers Group has launched a new share buyback programme.

The aggregate purchase price of all shares acquired under the programme will be no greater than £80m.

The maximum number of shares that may be purchased under the programme will be 10m ordinary shares.

Frasers Group says the purpose of the programme – for the period up to and including the last trading day prior to the company’s financial year end on 30 April 2023 – is to reduce the share capital of the company.

Nuclear industry develops £20m plant in to Derby

Stuart Pearcey
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Nuclear industry develops £20m plant in to Derby
Later this year, the Sheffield-based Nuclear Advanced Manufacturing Research Centre will open a Nuclear AMRC Midlands facility at Infinity Park, Derby. The £20 million facility will focus on new technology areas to deliver the maximum impact for the UK’s nuclear manufacturers, and supply chain development across the Midlands region. Meanwhile, it has signed Tamworth-based Brown & Holmes, which is also developing a dedicated facility for clean assembly in Derby, to collaborate on technology development and expand its presence in the nuclear sector. The Nuclear Advanced Manufacturing Research Centre (Nuclear AMRC), based at the University of Sheffield and part of the UK’s High Value Manufacturing Catapult, collaborates with companies of all sizes to help them innovate and win work in the nuclear supply chain. Kevin Ward, managing director of Brown and Holmes, says: “The opportunity to sit alongside and collaborate with industry leaders will help us build on our past experiences working in the sector. We firmly believe this will be a major growth area in supporting the world achieve its goals for clean energy and sustainability, and one we wish to be a part of.” Sean Murphy, strategic relationship manager for the Nuclear AMRC, says: “We are pleased to welcome Brown and Holmes as members of the Nuclear AMRC. We look forward to supporting their continued exploration of the nuclear market, building on the exceptionally strong base they have today. “I was personally very impressed with the operations at Brown and Holmes, and feel that the Nuclear AMRC has much to gain from collaborating. Their expertise in fixturing, assembly and machining will enhance our research board and other areas of work, and I see us working together to jointly solve problems or innovate with new ideas.” As part of its tier two membership, Brown & Holmes will provide specialist design and technical services to support projects at the Nuclear AMRC, including consultancy on workholding solutions for the centre’s array of production-scale machining and fabrication cells at its research factory in Rotherham.  

Chesterfield-based commercial law firm appoints new employment director

Tess Egginton
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Chesterfield-based commercial law firm appoints new employment director
CMP Legal, a niche commercial law firm that specialises in corporate, commercial, dispute resolution and employment, has expanded its team with the appointment of a new employment director. The Chesterfield-based law firm that delivers services to clients in Derbyshire, Sheffield and across the UK, has welcomed Lauren Pickard as its new employment director. Lauren is a specialist employment law solicitor and joins CMP Legal from national law firm Knights plc where she worked as a senior associate, previously based in Sheffield. She has a wealth of knowledge and employment law experience from managing performance, disciplinary and grievance matters to redundancy and restructuring advice, delivering training, drafting contracts and much more. Lauren Pickard, employment director at CMP Legal, says: “I am delighted to join CMP Legal at such an exciting time for the firm in terms of growth. CMP Legal has swiftly established itself as a niche practice offering high quality advice. The lawyers at CMP Legal have a wealth of experience and this, combined with their desire to do things in a dynamic and progressive way, works strongly to the benefit of clients.” Lauren takes a practical and pragmatic approach to ensure that clients can take a commercial approach to employment law problems and CMP Legal looks forward to clients benefitting from her support as the employment team is further strengthened with her appointment Neil Brown, co-founder at CMP Legal, says: “Lauren has an excellent reputation in the region and will be a fantastic asset to both our business and our clients. We are delighted to welcome her into our expanding team as we continue to deliver exceptional service to our clients.” Anna Cattee, co-founder of CMP Legal, adds: “Having Lauren onboard not only strengthens our already highly regarded employment law offering, but strengthens our corporate acquisitions and mergers process for all things employment. She’s so personable that I know she’ll fit right in and our clients will reap the benefits of her knowledge.” Lauren will head up CMP Legal’s Employment Team working in conjunction with CMP Legal’s co-founder Neil Brown.

Rail hub consultation is inadequate says Council

Tess Egginton
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Rail hub consultation is inadequate says Council
Blaby District Council has submitted its first response following the submission of the application for the Hinckley National Rail Freight Interchange. The application, from developers Tritax Symmetry, was lodged with the Planning Inspectorate on 3 February 2023. The Council had two weeks to comment on whether it believed consultation on the proposals had been adequate. This Adequacy of Consultation Representation has now been sent into the Planning Inspectorate highlighting significant concerns and setting out the Council’s belief that the consultation was not adequate and falls short of the standard expected. The scheme, earmarked for 660 acres of land between the M69 and the Leicester to Birmingham railway line, falls mainly within the boundary of Blaby District Council, south-west of Elmesthorpe village. While Blaby District Council can comment on the application it does not make the final decision – the scheme is considered of such scale and national importance it is determined by the Secretary of State. The Council’s Adequacy of Consultation Representation says:
  • Incomplete, inaccurate, and vague information has been provided and requested information remains outstanding
  • The Applicant’s approach is inconsistent with government guidance and the legal principles of consultation
  • While the Statutory Consultation began in January 2022, the highways modelling inputs were not agreed until March 2022 and the impacts and mitigation are still not agreed and may change. There has been premature and inadequate consultation in this regard
  • There is incomplete information on the need for and operation of the development as a rail freight interchange
  • The impacts of increased barrier down time at Narborough Level Crossing, including detrimental air quality for residents, have not been satisfactorily considered
  • The landscape impacts have not been adequately mitigated
Councillor Terry Richardson, leader of Blaby District Council, said: “For any consultation exercise to be effective, there must be genuine dialogue between the parties and meaningful consideration of the consultation responses by the applicant. “The information provided by the applicant also needs to set out the justification for the scheme and be capable of being fully understood by stakeholders and members of the public. While reviewing the consultation documents, we found essential evidence and information were simply not there or were presented before they were ready. “This is the case despite the Council’s frequent requests for extra information made in both writing and verbally during working groups and at other meetings between the Council and the applicant. “Our conclusion is that incomplete, inaccurate and vague information has been provided and information requested remains outstanding.” The Planning Inspectorate has until Monday 6 March to decide whether to accept the application. If the application is accepted, the Planning Inspectorate will begin assessing the developer’s plans. There will be a six-month-long examination phase, including hearings, towards the end of the year and a decision is expected by the middle of next year.

Nottingham eCommerce marketing agency hires viral star

Tess Egginton
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Nottingham eCommerce marketing agency hires viral star
Nottingham-based eCommerce marketing agency Contrast, founded by former professional athlete Elliott Davidson, has hired Mark Rofe as Head of Digital PR to launch a new Digital PR service. Mark Rofe, who most recently worked at Sheffield’s Rise at Seven agency, gained widespread media coverage in 2020 after purchasing a billboard to advertise himself for a date. He received more than 2,000 applications from potential suitors and appeared on the likes of ITV’s This Morning, The Late Night Show, and The Ellen DeGeneres Show. Mark leveraged his expertise to launch his own eCommerce brand, providing and delivering real Christmas trees to people’s homes. Under his guidance, the business secured coverage in hundreds of news outlets including Sky News, ITV, and The Guardian. Now, Mark aims to utilise his skills at Contrast to help other eCommerce businesses achieve similar media exposure. Mark said: “It’s a privilege to join the talented team at Contrast and play a role in introducing Digital PR as a new offering. I have long been impressed by Contrast’s unwavering commitment to delivering results for their clients. “Their reputation as a small yet mighty eCommerce agency precedes them, and I am eager to leverage my passion and expertise to help take their services to the next level. I am thrilled to embark on this exciting new chapter with such a dynamic and innovative company.” Elliott Davidson, founder and director, said: “With Mark’s background as an eCommerce owner and operator, this is a perfect match of DNA and knowledge. I’m excited about the future of Contrast for our current and future clients, the creative campaigns we will end up running with Mark at the helm of the department, and how we will grow.”

Purpose Media appoints second senior account manager

Tess Egginton
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Purpose Media appoints second senior account manager
Full service marketing agency Purpose Media has further strengthened their team following the appointment of Tania Garland as a senior account manager. Tania, who lives in Mansfield, joins Purpose Media from the print and advertising industry having previously worked as a project manager for a UK supermarket brand. She was responsible for all of their UK stores specialising in point of sale, front of house advertising and promotional materials. She also worked on large scale campaigns for seasonal events such as Christmas, Diwali and Easter. In her new role Tania will be advising on marketing strategy and acting as the account manager for a client portfolio that will include businesses in the tech, sporting, retail apparel and recruitment sectors. Tania said: “Whilst print and point of sale is an important part in the marketing mix I was eager to get more involved in digital marketing as this area of marketing is so much more trackable. As a company, Purpose Media is very client focused, forward thinking and innovative in the ways they ensure our client marketing strategies are focused, objectives are met and campaigns deliver an return on investment.”

Digital marketer gets best of both worlds after embarking on job share role between PR company and marketing and design agency

Tess Egginton
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Digital marketer gets best of both worlds after embarking on job share role between PR company and marketing and design agency
Derbyshire’s Penguin PR has gained the experience of a digital marketing executive, Esme Wade, in a secondment with marketing and design agency MacMartin. Digital marketing executive Esme has recently completed a level 3 apprenticeship with Derby-based EMA Training and is now dividing her time between Penguin PR’s offices in Duffield Road and MacMartin’s base in Church Broughton. In 2022 she was named a finalist in the Apprentice of the Year category in the prestigious Enterprising Women Awards, run by East Midlands Chamber. The two companies, having worked closely together on several projects in the past, are looking to collaborate and expand their skillsets through the transfer of knowledge that Esme will give and acquire. Penguin has worked on campaigns for MacMartin, which has in turn designed the Derby PR company’s website. With plans to increase the speciality knowledge in writing at MacMartin, and further the digital marketing offer at Penguin PR, both companies hope the secondment will grow and improve the services at both businesses. MacMartin brought Esme onto the team in 2021 as a digital marketing executive. Having noticed a passion for copywriting develop in Esme over the course of her employment, MacMartin co-director Claire MacDonald approached Penguin PR about providing further training through a secondment. In return for the skills exchange, Penguin PR will use Esme’s experience in marketing to bring more services to the table and uplift their clients’ marketing efforts, such as email marketing and social media. Esme said: “I’m ambitious to refine my writing style and skills over the course of my career. Being given the chance to work amongst experienced writers at Penguin PR is an opportunity that really excites me. “I’ve been building knowledge in digital marketing over the last 18 months with the brilliant team at MacMartin, so I hope to bring some valuable insights and skills to Penguin PR, both to assist with their own marketing and boost marketing for their clients.” Esme, who was inspired to start her apprenticeship with MacMartin after undertaking an online course following her drama degree, is the first member of the team to trial a new way of learning through the secondment. Splitting her time equally between the companies, she hopes to learn more about the art of copywriting whilst delivering her own marketing expertise. Penguin PR director Sarah Newton said: “We’re eager to get Esme started, as we know that MacMartin have fantastic marketers and Esme will be no exception. At the same time, I embrace the opportunity to get the Penguin team teaching and helping an aspiring writer learn and grow.” Claire said: “Following the completion of Esme’s apprenticeship, we were looking at her next steps in regards to personal development when the idea of a secondment was born. “Esme is very keen to develop her copywriting skills further and we knew the talented team at Penguin would be our ideal partner, enabling Esme to learn from the best. We know how powerful collaboration can be and believe this secondment will be beneficial not only to Esme, but to both businesses as well.”

Health insurance intermediary makes two acquisitions

Tess Egginton
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Health insurance intermediary makes two acquisitions
Premier Choice Healthcare (PCH), the Towcester-based health insurance intermediary owned by GRP, has made two acquisitions, Visibly Financial Services (trading as Visibly Health) and, separately, a book of business controlled by Gill Nicholson, a self-employed consultant. The deal follows similar dual acquisitions for PCH, with two in August and two in November last year. The two businesses operate in the health insurance space, and PCH is buying the portfolios of customers for both. Visibly Health, which is Cambridge-based, is led by Debbie Jones and focuses on private medical cover for SME businesses. Debbie will join PCH post-completion as a brand ambassador to enable her to assist PCH with customer retention as well as sales growth. Gill Nicholson is based in County Durham and has been a consultant for PCH for the previous 11 years. After completion, Gill will step back from the day-to-day management of her portfolio but, like Debbie Jones, will also become a PCH brand ambassador post-completion. Stephen Hough, PCH Managing Director, explained that a PCH consultant will manage the Visibly Health SME portfolio and an adviser within Equity Health Solutions (Specialist Consumer PMI division of PCH) will look after the private clients: “Visibly Health is a well-run, successful private healthcare intermediary with an experienced leader in Debbie Jones. I’m pleased that she will continue to support the portfolio in the future. “This is an important acquisition for PCH, and we are keen to talk to other entrepreneurs in our sector looking to take some value from their life’s work.” Turning to Gill Nicholson’s portfolio, which comprises PMI insurance and employee benefits, of which 93% relates to SME businesses, Mr Hough said: “This deal fits with our broader strategy of buying businesses and portfolios from within our existing network. Moreover, it’s great that we are able to capitalise on Gill’s skills, experience and track record in building a successful portfolio in the PMI sector. “We are keen for self-employed consultants and ARs to see PCH as the best possible home for them as a platform on which to grow. In addition, once they are looking to step back and retire, they can optimise the value for their business through a seamless sale to PCH.”

Development work begins on Nottingham Trent University workshops

Tess Egginton
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Development work begins on Nottingham Trent University workshops
Home Farm, Nottingham Trent University’s (NTU) Brackenhurst Campus hub for agricultural studies, is set to undergo a makeover. The original workshops, constructed in 1953, were part of the original Brackenhurst College site which merged with NTU in 1999. The construction’s features are typical of a building of its age: a single storey building with a concrete structural frame, clad in brick, incorporating a corrugated asbestos roof. Wear and tear over the years, as well as the building’s asbestos roof reaching its end of life are some of the reasons behind development works which began in January 2023. The Home Farm workshops are currently used by over 700 students across the School of Animal, Rural and Environmental Sciences’ (ARES) Further and Higher Education portfolio. The investment in upgrading the existing space will support the School’s targets for current students and future recruitment, enabling growth in the numbers of students able to study agricultural science at NTU. The planned development will refurbish the current facilities and reconfigure up to 400 sqm of the existing 1,000 sqm workshop space to create more effective, flexible and enhanced teaching and ancillary facilities. The concept for the development has been designed by Evans Vettori Architects, who designed Brackenhurst’s most recent flagship Lyth building. Existing classrooms are to be reconfigured to create two flexible teaching rooms that can be joined to form one large space for larger capacity teaching and events. In addition, there will be creation of a new foyer, a new practical teaching space, and a new student locker room. This will not only improve the student experience and enable potential student growth; it will also facilitate the development of industry and enterprise opportunities to enhance student employability. Augmenting existing facilities is preferable, both in terms of value for money and sustainability. These works will not only allow the building to be occupied and used but will also remove asbestos-related health and safety risks and prolong the life of the building by a minimum of 15 – 20 years. Being able to effectively recycle the existing building meets NTU’s sustainability ethos and the building designs are sympathetic to the rural landscape of Brackenhurst campus. Cat Sanderson, Head of School Operations (ARES) and sponsor for the project, says of the development: “We are thrilled that this development has been approved. The building refurbishment and the reconfiguration of the internal space will enhance our students’ learning experience and support the School’s portfolio refresh and recruitment of new students. “In addition, it will enable more engagement with industry and the skills sector, underpinning student employability and future careers.” The development works are due to be complete in September, ready for the start of the Further Education term.

HMRC ‘nudges’ 2,000 companies to clamp down on R&D tax fraud and error

Tess Egginton
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HMRC ‘nudges’ 2,000 companies to clamp down on R&D tax fraud and error
HMRC has written to more than 2,000 companies as part of its ever-increasing compliance activity to crack down on fraudulent and inaccurate R&D tax relief claims. The ‘nudge’ letters encourage recipients to check that their previous R&D tax relief claims are complete and correct, and where inaccuracies are identified, companies are urged to make amendments to their company tax return. HMRC has also warned companies that they may face formal tax enquiries and rejected claims if their returns are found to be incorrect. There has been growing concern about a rise in R&D tax relief fraud in recent years. In January this year, the Lords Finance Bill sub-committee published a report which highlighted an escalation in the abuse of R&D tax relief, noting that the relief was subject to large-scale organised criminal attacks and the activities of rogue advisers. In its latest annual report and accounts, HMRC estimated that £469m was lost through fraud and error in its two R&D schemes in 2021-22, equivalent to 4.9% of Corporate Tax R&D reliefs. To address these concerns, the government has increased compliance resource and activity, and the specialist R&D team focused on SME compliance has more than doubled in size. Commenting on the nudge campaign, Carrie Rutland, Innovation Incentives partner at BDO, said: “Companies that have been nudged by HMRC may face higher tax penalties if their claims contain errors. Getting an expert review of past claims by a specialist is the best way to identify and rectify any mistakes in past years’ tax relief claims – both for returns that are in date to amend and for any previous years where voluntary disclosures are required. “However, it’s important for all businesses to review their past R&D claims to make sure there are no potential skeletons in the company closet. It’s always better to make a voluntary disclosure for errors before you are nudged by HMRC, as this should be treated as an ‘unprompted’ disclosure which carries a much lower penalty – if any. I would expect HMRC to keep on issuing these nudge letters, so the window of opportunity to get past claims put right at a lower cost could be closing soon. “Past R&D claims often come up whenever a potential purchaser is doing due diligence, so management considering a sale will want to make sure there are no barriers to getting a successful transaction over the line.” The government is currently consulting on reforms to R&D tax relief regime to ensure taxpayers’ money is spent as effectively as possible through a simplified, single relief.
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