Minds + Machines Group Ltd - London-based top-level domain registry - Buys back GBP19 million in shares, as planned, in tender offer for shares at 10.4 pence each. The tender was fully subscribed. A total of 182.7 million shares, 67.3% of the company's total, will be purchased and cancelled. The offer follows the completion of a GBP58.0 million tender offer at 9.60p per share back in October. Minds + Machines recently sold the majority of its assets for USD120 million, with USD11.9 million held in escrow until March 31. It intends to return as much cash as possible to shareholders and delist from the AIM market in London and has called a general meeting for February 7 to approve the plan.
Current stock price: 9.10p, down 1.6% on Tuesday
12-month change: up 92%
By Tom Waite; thomaslwaite@alliancenews.com
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