View Financial HealthIPD Group 配当と自社株買い配当金 基準チェック /36IPD Group配当を支払う会社であり、現在の利回りは2.37%で、収益によって十分にカバーされています。主要情報2.4%配当利回り0%バイバック利回り総株主利回り2.4%将来の配当利回り3.4%配当成長22.4%次回配当支払日n/a配当落ち日n/a一株当たり配当金n/a配当性向50%最近の配当と自社株買いの更新お知らせ • Feb 25Ipd Group Limited Announces Ordinary Fully Franked Dividend for the Six Months Ended December 31, 2025, Payable on April 10, 2026IPD Group Limited announced ordinary fully franked dividend of AUD 0.06800000 for the six months ended December 31, 2025. Record date is March 27, 2026. Ex-date is March 26, 2026. The dividend will be payable on April 10, 2026.お知らせ • Aug 25IPD Group Limited Declares Final Dividend for the Six Months Ended 30 June 2025, Payable on 08 October 2025IPD Group Limited declared a final dividend of 6.2 cents per share fully franked for the six months ended 30 June 2025 with an ex-dividend date of 23 September 2025, record date of 24 September 2025 and payable on 08 October 2025.お知らせ • Feb 25Ipd Group Limited Announces Ordinary Dividend for the Financial Reporting or Payment Period Ending Ended/Ending (Date) December 31, 2024, Payable on April 10, 2025IPD Group Limited announced ordinary dividend of AUD 0.06400000 per share for the financial reporting or payment period ending ended/ending (date) December 31, 2024. Record Date March 28, 2025, Ex Date March 27, 2025 and Payment Date April 10, 2025.すべての更新を表示Recent updatesBoard Change • May 20Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Independent Non-Executive Director Andrew Moffat was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.お知らせ • Feb 25Ipd Group Limited Announces Ordinary Fully Franked Dividend for the Six Months Ended December 31, 2025, Payable on April 10, 2026IPD Group Limited announced ordinary fully franked dividend of AUD 0.06800000 for the six months ended December 31, 2025. Record date is March 27, 2026. Ex-date is March 26, 2026. The dividend will be payable on April 10, 2026.お知らせ • Jan 21IPD Group Limited to Report First Half, 2026 Results on Feb 23, 2026IPD Group Limited announced that they will report first half, 2026 results on Feb 23, 2026お知らせ • Dec 30IPD Group Limited (ASX:IPG) entered into a binding agreement to acquire Platinum Cables Pty Limited for AUD 45 million.IPD Group Limited (ASX:IPG) entered into a binding agreement to acquire Platinum Cables Pty Limited for AUD 45 million on December 30, 2025. Total consideration includes an upfront payment of AUD 37.5 million, consisting of AUD 37 million cash and AUD 0.5 million issued in shares and Contingent cash payment up to a maximum of AUD 7.5 million. Acquisition to be primarily cash and debt funded via new debt facilities, resulting in very limited shareholder dilution and the transaction funding via an expanded core debt facility with a AUD 56.1 million limit. In addition, a new working capital facility with a AUD 10 million limit has been secured. Following the acquisition, Platinum’s current management team will remain and operate the business as a stand-alone entity under earn-out arrangements. The acquisition delivers immediate earnings accretion for shareholders of IPD Group Limited. For the period ending June 30, 2025, Platinum Cables Pty Limited reported total revenue of AUD 44.8 million, EBIT of AUD 7.2 million and EBITDA of AUD 8.2 million. The expected completion of the transaction is December 31, 2025.お知らせ • Oct 24IPD Group Limited, Annual General Meeting, Nov 25, 2025IPD Group Limited, Annual General Meeting, Nov 25, 2025. Location: level 37, 180 george street, sydney nsw 2000 Australiaお知らせ • Aug 25IPD Group Limited Declares Final Dividend for the Six Months Ended 30 June 2025, Payable on 08 October 2025IPD Group Limited declared a final dividend of 6.2 cents per share fully franked for the six months ended 30 June 2025 with an ex-dividend date of 23 September 2025, record date of 24 September 2025 and payable on 08 October 2025.お知らせ • Jul 23IPD Group Limited to Report Fiscal Year 2025 Results on Aug 25, 2025IPD Group Limited announced that they will report fiscal year 2025 results on Aug 25, 2025お知らせ • Feb 25Ipd Group Limited Announces Ordinary Dividend for the Financial Reporting or Payment Period Ending Ended/Ending (Date) December 31, 2024, Payable on April 10, 2025IPD Group Limited announced ordinary dividend of AUD 0.06400000 per share for the financial reporting or payment period ending ended/ending (date) December 31, 2024. Record Date March 28, 2025, Ex Date March 27, 2025 and Payment Date April 10, 2025.お知らせ • Feb 13IPD Group Limited to Report First Half, 2025 Results on Feb 24, 2025IPD Group Limited announced that they will report first half, 2025 results on Feb 24, 2025お知らせ • Nov 27IPD Group Limited Provides Earnings Guidance for the Half-Year Ending 31 December 2024IPD Group Limited provided earnings guidance for the half-year ending 31 December 2024. For the period, the company expects EBIT of $19.2 million - $19.8 million. The Company also notes that Revenue for 1H25 is forecast to exceed the pcp (Pro Forma).お知らせ • Oct 28IPD Group Limited, Annual General Meeting, Nov 26, 2024IPD Group Limited, Annual General Meeting, Nov 26, 2024. Location: suite 4201, level 42, 264-278 george street, sydney nsw 2000, sydney AustraliaRecent Insider Transactions • Oct 17Independent Non-Executive Director recently sold €424k worth of stockOn the 14th of October, Andrew Moffat sold around 142k shares on-market at roughly €2.97 per share. This transaction amounted to 35% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €3.1m. Insiders have been net sellers, collectively disposing of €4.5m more than they bought in the last 12 months.Recent Insider Transactions • Sep 12Board Member recently sold €3.1m worth of stockOn the 5th of September, Mohamed Yoosuff sold around 1m shares on-market at roughly €3.09 per share. This transaction amounted to 8.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €4.0m more than they bought in the last 12 months.Reported Earnings • Sep 03Full year 2024 earnings released: EPS: AU$0.23 (vs AU$0.19 in FY 2023)Full year 2024 results: EPS: AU$0.23 (up from AU$0.19 in FY 2023). Revenue: AU$290.4m (up 28% from FY 2023). Net income: AU$22.4m (up 39% from FY 2023). Profit margin: 7.7% (up from 7.1% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Trade Distributors industry in Europe.お知らせ • Aug 14IPD Group Limited to Report Fiscal Year 2024 Results on Aug 30, 2024IPD Group Limited announced that they will report fiscal year 2024 results on Aug 30, 2024Board Change • Jun 27Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Independent Non-Executive Director Andrew Moffat was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.お知らせ • Feb 01IPD Group Limited (ASX:IPG) completed the acquisition of CMI Operations Pty Ltd. from Excelsior Capital Limited (ASX:ECL).IPD Group Limited (ASX:IPG) entered into a conditional agreement to acquire CMI Operations Pty Ltd. from Excelsior Capital Limited (ASX:ECL) for approximately AUD 100 million on November 28, 2023. Under the terms, consideration comprises an upfront payment of AUD 92.1 million, subject to customary working capital and net debt adjustment, and a maximum contingent payment of AUD 8.9 million depending on CMI’s FY24 results. IPD will fund the acquisition through a combination of a fully underwritten equity raising of AUD 65 million consisting of an institutional placement to raise approximately AUD 40 million along with an accelerated pro rata non-renounceable entitlement offer of new fully paid ordinary to raise approximately AUD 25.0 million and new debt facilities of AUD 40 million. CMI reported net sales of AUD 104.3 million, EBITDA of AUD 17.1 million and EBIT of AUD 15.5 million for the financial year 2023. IPD Group has the right to receive and pay a break fee of AUD 1 million. The acquisition is subject to approval by shareholders of Excelsior. The Board of ECL unanimously recommends that ECL shareholders vote in favor of the transaction. Completion of the acquisition is anticipated to occur by February 2024. ECL intends to use the net proceeds delivered by the transaction to further develop and grow its primary investment portfolio business. The acquisition delivers pro forma FY23A EPS accretion of over 30% for IPD Group. RSM Australia acted as an independent expert, Houlihan Lokey acted as financial advisor and Nicholson Ryan Lawyers acted as legal advisor for ECL. Gordon McCann, Seema Sandhu,Sarah Roettgers,Sarah Gilkes,Charmian Holmes and Veno Panicker of Hamilton Locke acted as legal advisor and Due-diligence provider to IPD Group Limited. IPD Group Limited (ASX:IPG) completed the acquisition of CMI Operations Pty Ltd. from Excelsior Capital Limited (ASX:ECL) on January 31, 2024.お知らせ • Nov 30IPD Group Limited (ASX:IPG) entered into a conditional agreement to acquire CMI Operations Pty Ltd. from Excelsior Capital Limited (ASX:ECL) for approximately AUD 100 million.IPD Group Limited (ASX:IPG) entered into a conditional agreement to acquire CMI Operations Pty Ltd. from Excelsior Capital Limited (ASX:ECL) for approximately AUD 100 million on November 28, 2023. Under the terms, consideration comprises an upfront payment of AUD 92.1 million, subject to customary working capital and net debt adjustment, and a maximum contingent payment of AUD 8.9 million depending on CMI’s FY24 results. IPD will fund the acquisition through a combination of a fully underwritten equity raising of AUD 65 million and new debt facilities of AUD 40 million. CMI reported net sales of AUD 104.3 million, EBITDA of AUD 17.1 million and EBIT of AUD 15.5 million for the financial year 2023. IPD Group has the right to receive and pay a break fee of AUD 1 million. The acquisition is subject to approval by shareholders of Excelsior. The Board of ECL unanimously recommends that ECL shareholders vote in favor of the transaction. Completion of the acquisition is anticipated to occur by February 2024. ECL intends to use the net proceeds delivered by the transaction to further develop and grow its primary investment portfolio business. The acquisition delivers pro forma FY23A EPS accretion of over 30% for IPD Group. RSM Australia acted as an independent expert, Houlihan Lokey acted as financial advisor and Nicholson Ryan Lawyers acted as legal advisor for ECL.決済の安定と成長配当データの取得安定した配当: 配当金の支払いは安定していますが、 IS6が配当金を支払っている期間は 10 年未満です。増加する配当: IS6の配当金は増加していますが、同社は4年間しか配当金を支払っていません。配当利回り対市場IPD Group 配当利回り対市場IS6 配当利回りは市場と比べてどうか？セグメント配当利回り会社 (IS6)2.4%市場下位25% (DE)1.5%市場トップ25% (DE)4.5%業界平均 (Trade Distributors)2.4%アナリスト予想 (IS6) (最長3年)3.4%注目すべき配当: IS6の配当金 ( 2.37% ) はGerman市場の配当金支払者の下位 25% ( 1.54% ) よりも高くなっています。高配当: IS6の配当金 ( 2.37% ) はGerman市場の配当金支払者の上位 25% ( 4.55% ) と比較すると低いです。株主への利益配当収益カバレッジ: IS6の配当金は、合理的な 配当性向 ( 50.1% ) により、利益によって賄われています。株主配当金キャッシュフローカバレッジ: IS6の 現金配当性向 ( 43.4% ) は比較的低く、配当金の支払いはキャッシュフローによって十分にカバーされています。高配当企業の発掘7D1Y7D1Y7D1YDE 市場の強力な配当支払い企業。View Management企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/23 16:19終値2026/05/15 00:00収益2025/12/31年間収益2025/06/30データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋IPD Group Limited 5 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。6 アナリスト機関Joseph HouseBell PotterSam BrandwoodBell PotterMatthew ChenMA Moelis Australia Securities Pty Ltd3 その他のアナリストを表示
お知らせ • Feb 25Ipd Group Limited Announces Ordinary Fully Franked Dividend for the Six Months Ended December 31, 2025, Payable on April 10, 2026IPD Group Limited announced ordinary fully franked dividend of AUD 0.06800000 for the six months ended December 31, 2025. Record date is March 27, 2026. Ex-date is March 26, 2026. The dividend will be payable on April 10, 2026.
お知らせ • Aug 25IPD Group Limited Declares Final Dividend for the Six Months Ended 30 June 2025, Payable on 08 October 2025IPD Group Limited declared a final dividend of 6.2 cents per share fully franked for the six months ended 30 June 2025 with an ex-dividend date of 23 September 2025, record date of 24 September 2025 and payable on 08 October 2025.
お知らせ • Feb 25Ipd Group Limited Announces Ordinary Dividend for the Financial Reporting or Payment Period Ending Ended/Ending (Date) December 31, 2024, Payable on April 10, 2025IPD Group Limited announced ordinary dividend of AUD 0.06400000 per share for the financial reporting or payment period ending ended/ending (date) December 31, 2024. Record Date March 28, 2025, Ex Date March 27, 2025 and Payment Date April 10, 2025.
Board Change • May 20Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Independent Non-Executive Director Andrew Moffat was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
お知らせ • Feb 25Ipd Group Limited Announces Ordinary Fully Franked Dividend for the Six Months Ended December 31, 2025, Payable on April 10, 2026IPD Group Limited announced ordinary fully franked dividend of AUD 0.06800000 for the six months ended December 31, 2025. Record date is March 27, 2026. Ex-date is March 26, 2026. The dividend will be payable on April 10, 2026.
お知らせ • Jan 21IPD Group Limited to Report First Half, 2026 Results on Feb 23, 2026IPD Group Limited announced that they will report first half, 2026 results on Feb 23, 2026
お知らせ • Dec 30IPD Group Limited (ASX:IPG) entered into a binding agreement to acquire Platinum Cables Pty Limited for AUD 45 million.IPD Group Limited (ASX:IPG) entered into a binding agreement to acquire Platinum Cables Pty Limited for AUD 45 million on December 30, 2025. Total consideration includes an upfront payment of AUD 37.5 million, consisting of AUD 37 million cash and AUD 0.5 million issued in shares and Contingent cash payment up to a maximum of AUD 7.5 million. Acquisition to be primarily cash and debt funded via new debt facilities, resulting in very limited shareholder dilution and the transaction funding via an expanded core debt facility with a AUD 56.1 million limit. In addition, a new working capital facility with a AUD 10 million limit has been secured. Following the acquisition, Platinum’s current management team will remain and operate the business as a stand-alone entity under earn-out arrangements. The acquisition delivers immediate earnings accretion for shareholders of IPD Group Limited. For the period ending June 30, 2025, Platinum Cables Pty Limited reported total revenue of AUD 44.8 million, EBIT of AUD 7.2 million and EBITDA of AUD 8.2 million. The expected completion of the transaction is December 31, 2025.
お知らせ • Oct 24IPD Group Limited, Annual General Meeting, Nov 25, 2025IPD Group Limited, Annual General Meeting, Nov 25, 2025. Location: level 37, 180 george street, sydney nsw 2000 Australia
お知らせ • Aug 25IPD Group Limited Declares Final Dividend for the Six Months Ended 30 June 2025, Payable on 08 October 2025IPD Group Limited declared a final dividend of 6.2 cents per share fully franked for the six months ended 30 June 2025 with an ex-dividend date of 23 September 2025, record date of 24 September 2025 and payable on 08 October 2025.
お知らせ • Jul 23IPD Group Limited to Report Fiscal Year 2025 Results on Aug 25, 2025IPD Group Limited announced that they will report fiscal year 2025 results on Aug 25, 2025
お知らせ • Feb 25Ipd Group Limited Announces Ordinary Dividend for the Financial Reporting or Payment Period Ending Ended/Ending (Date) December 31, 2024, Payable on April 10, 2025IPD Group Limited announced ordinary dividend of AUD 0.06400000 per share for the financial reporting or payment period ending ended/ending (date) December 31, 2024. Record Date March 28, 2025, Ex Date March 27, 2025 and Payment Date April 10, 2025.
お知らせ • Feb 13IPD Group Limited to Report First Half, 2025 Results on Feb 24, 2025IPD Group Limited announced that they will report first half, 2025 results on Feb 24, 2025
お知らせ • Nov 27IPD Group Limited Provides Earnings Guidance for the Half-Year Ending 31 December 2024IPD Group Limited provided earnings guidance for the half-year ending 31 December 2024. For the period, the company expects EBIT of $19.2 million - $19.8 million. The Company also notes that Revenue for 1H25 is forecast to exceed the pcp (Pro Forma).
お知らせ • Oct 28IPD Group Limited, Annual General Meeting, Nov 26, 2024IPD Group Limited, Annual General Meeting, Nov 26, 2024. Location: suite 4201, level 42, 264-278 george street, sydney nsw 2000, sydney Australia
Recent Insider Transactions • Oct 17Independent Non-Executive Director recently sold €424k worth of stockOn the 14th of October, Andrew Moffat sold around 142k shares on-market at roughly €2.97 per share. This transaction amounted to 35% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €3.1m. Insiders have been net sellers, collectively disposing of €4.5m more than they bought in the last 12 months.
Recent Insider Transactions • Sep 12Board Member recently sold €3.1m worth of stockOn the 5th of September, Mohamed Yoosuff sold around 1m shares on-market at roughly €3.09 per share. This transaction amounted to 8.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €4.0m more than they bought in the last 12 months.
Reported Earnings • Sep 03Full year 2024 earnings released: EPS: AU$0.23 (vs AU$0.19 in FY 2023)Full year 2024 results: EPS: AU$0.23 (up from AU$0.19 in FY 2023). Revenue: AU$290.4m (up 28% from FY 2023). Net income: AU$22.4m (up 39% from FY 2023). Profit margin: 7.7% (up from 7.1% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Trade Distributors industry in Europe.
お知らせ • Aug 14IPD Group Limited to Report Fiscal Year 2024 Results on Aug 30, 2024IPD Group Limited announced that they will report fiscal year 2024 results on Aug 30, 2024
Board Change • Jun 27Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Independent Non-Executive Director Andrew Moffat was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment.
お知らせ • Feb 01IPD Group Limited (ASX:IPG) completed the acquisition of CMI Operations Pty Ltd. from Excelsior Capital Limited (ASX:ECL).IPD Group Limited (ASX:IPG) entered into a conditional agreement to acquire CMI Operations Pty Ltd. from Excelsior Capital Limited (ASX:ECL) for approximately AUD 100 million on November 28, 2023. Under the terms, consideration comprises an upfront payment of AUD 92.1 million, subject to customary working capital and net debt adjustment, and a maximum contingent payment of AUD 8.9 million depending on CMI’s FY24 results. IPD will fund the acquisition through a combination of a fully underwritten equity raising of AUD 65 million consisting of an institutional placement to raise approximately AUD 40 million along with an accelerated pro rata non-renounceable entitlement offer of new fully paid ordinary to raise approximately AUD 25.0 million and new debt facilities of AUD 40 million. CMI reported net sales of AUD 104.3 million, EBITDA of AUD 17.1 million and EBIT of AUD 15.5 million for the financial year 2023. IPD Group has the right to receive and pay a break fee of AUD 1 million. The acquisition is subject to approval by shareholders of Excelsior. The Board of ECL unanimously recommends that ECL shareholders vote in favor of the transaction. Completion of the acquisition is anticipated to occur by February 2024. ECL intends to use the net proceeds delivered by the transaction to further develop and grow its primary investment portfolio business. The acquisition delivers pro forma FY23A EPS accretion of over 30% for IPD Group. RSM Australia acted as an independent expert, Houlihan Lokey acted as financial advisor and Nicholson Ryan Lawyers acted as legal advisor for ECL. Gordon McCann, Seema Sandhu,Sarah Roettgers,Sarah Gilkes,Charmian Holmes and Veno Panicker of Hamilton Locke acted as legal advisor and Due-diligence provider to IPD Group Limited. IPD Group Limited (ASX:IPG) completed the acquisition of CMI Operations Pty Ltd. from Excelsior Capital Limited (ASX:ECL) on January 31, 2024.
お知らせ • Nov 30IPD Group Limited (ASX:IPG) entered into a conditional agreement to acquire CMI Operations Pty Ltd. from Excelsior Capital Limited (ASX:ECL) for approximately AUD 100 million.IPD Group Limited (ASX:IPG) entered into a conditional agreement to acquire CMI Operations Pty Ltd. from Excelsior Capital Limited (ASX:ECL) for approximately AUD 100 million on November 28, 2023. Under the terms, consideration comprises an upfront payment of AUD 92.1 million, subject to customary working capital and net debt adjustment, and a maximum contingent payment of AUD 8.9 million depending on CMI’s FY24 results. IPD will fund the acquisition through a combination of a fully underwritten equity raising of AUD 65 million and new debt facilities of AUD 40 million. CMI reported net sales of AUD 104.3 million, EBITDA of AUD 17.1 million and EBIT of AUD 15.5 million for the financial year 2023. IPD Group has the right to receive and pay a break fee of AUD 1 million. The acquisition is subject to approval by shareholders of Excelsior. The Board of ECL unanimously recommends that ECL shareholders vote in favor of the transaction. Completion of the acquisition is anticipated to occur by February 2024. ECL intends to use the net proceeds delivered by the transaction to further develop and grow its primary investment portfolio business. The acquisition delivers pro forma FY23A EPS accretion of over 30% for IPD Group. RSM Australia acted as an independent expert, Houlihan Lokey acted as financial advisor and Nicholson Ryan Lawyers acted as legal advisor for ECL.