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Pin to quick picksIg Seismic S Share News (IGSS)

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IG Seismic Services Urges Shareholders Not To Accept Synntech Takeover Offer

Thu, 30th Jan 2014 18:31

LONDON (Alliance News) - IG Seismic Services PLC Thursday urged shareholders to decline the takeover offer from UCE Synttech Holdings Ltd, saying it is not in its shareholders' interests.

The company said it was making the recommendation after non-executive chairman Sergey Generalov and non-executive directors Peter O'Brien, Dmitry Lipyavko, Boris Aleshin, Felix Lubashevsky and Maurice Dijols came to the conclusion that it wasn't in shareholders' favour.

"The independent directors recommend that shareholders do not accept the offer and take no action in respect of their shareholding," the company said in a statement.

The response comes after more than two months of deliberation.

On November 27, IG Seismic said it was considering an offer from Synntech, which is owned by IG Seismic Services Chief Executive Nikolay Levitskiy and a number of his family trusts.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

Copyright © 2014 Alliance News Limited. All Rights Reserved.

More News
13 Feb 2014 10:26

IG Seismic Services Independent Directors Again Urge Takeover Bid Rejection

LONDON (Alliance News) - The independent directors of IG Seismic Services PLC Thursday continued to urge shareholders to reject a bid to acquire the company from a company owned by IG Seismic's chief executive, saying they think the bid undervalues the company. UCE Synttech Holdings Ltd, a

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2 Jan 2014 13:20

IG Seismic Considering Options After Synttech Takeover Offer

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27 Nov 2013 09:08

IG Seismic Gets Takeover Approach From UCE Synttech Holdings

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