LONDON (Alliance News) - Bioquell PLC on Thursday said it expects to return up to GBP44.0 million to shareholders in its tender offer which opened on Thursday, and noted it was in preliminary discussions with several parties over a potential offer for the company.
Bioquell, which provides specialist microbiological control technologies to the healthcare, life science and defence markets, said under the tender offer, it is proposing to repurchase one in every two shares held by shareholders for a price of 200.00 pence per share.
Shares in Bioquell were up 0.2% at 171.90p on Thursday morning.
If the maximum number of shares under the tender offer is acquired, and all shareholders wish to participate, Bioquell will be returning around GBP44.0 million to shareholders, it said.
Bioquell added that it is engaged in preliminary discussions with several parties regarding a potential offer for the company, but said these discussions are at an early stage and there can be "no certainty that an offer will be made, nor as to the terms on which an offer might be made".
"Shareholders should note that the board considers it unlikely that, in the event that an offer for the company is received, it will be at a price per share which is greater than the tender price," Bioquell said.
The tender offer opened on Thursday, and will close on June 20.
Results of the offer will be announced on June 21.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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