LONDON (Alliance News) - Minds + Machines Group Ltd on Wednesday said it bought back 100.0 million shares at 13.00 pence per share under its tender offer, and cancelled 57.7 million of those shares.
Shares in Minds + Machines were down 0.8% at 12.28p on Wednesday morning.
Earlier this month the top-level domain registry company said it would be purchasing the shares for a total of GBP13.0 million, with those shares representing around a 13% stake in Minds + Machines. The tender offer completed on Wednesday, and 57.7 million shares were cancelled.
The balance of the shares were subscribed for by Goldstream Capital Master Fund I in a separate transaction this month to raise GBP5.5 million. Goldstream is wholly-owned by Chinese private equity firm Hony Capital.
Following the subscription, Goldstream holds 50.1 million shares or around a 7.17% stake in Minds + Machines.
Minds + Machines issued share capital currently stands at 698.8 million shares.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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