|
Dewhurst Group PLC - London-based supplier of components to the lift, transport and keypad industries - Plans £25 million cash return, about half of its market capitalisation, as part of a plan to cancel its shares from trading on AIM in London and reverting to a private limited company. Dewhurst says the cash return will be via tender offer at £9.00 per ordinary share and £6.65 per ’A’ share, both premiums to the market price. Calls general meeting for August 21 to approve the plans. The decision comes after Dewhurst back in June predicted a ‘challenging’ second half of its financial year ending September 30, amid delays to construction projects in North America. On Tuesday, Dewhurst says it is too small to be of interest to most UK investors. When it has expanded, it has used internally generate funds and has never raised funds on AIM. The tender offer is for shareholders who no long want to be invested in a private company. Current stock price: 835.00 pence, up 5.4% in London on Tuesday 12-month change: down 24% Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
