yes they was on November the 5th,,, but not for the whole company only for their loss making engineering part of the company they have earmarked to sell off as soon as they can.. all in the rns results etc, so wont hurt the company as I can see it,
The market cap is only £28.6M and if I'm correct it is debt free. The deal seems to be OK. They failed to sell for cash and not willing to give away the business for free they gave away controlling share for significant cash injection and recovery of failing company. Also there is preferred interest of US $50M which could be paid to Tanfield providing certain conditions are met. That on its own is more than the current market cap.
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