PV Crystalox Solar PLC - the silicon wafers manufacturer - Says it will proceed to return up to GBP2 million of surplus capital to shareholders by way of a tender offer at a price of 55 pence per share. The tender offer will open on Friday. The tender price represents a premium of 17% to the closing price of 47.2p per share on Monday. The maximum number of shares that may be acquired under the tender offer is 3.6 million, representing 50% of PV Crystalox's issued share capital. The tender offer will close on September 9. The company also announced that it will request the cancellation of the listing of its shares on the standard segment of the London Stock Exchange's Main Market.
Current stock price: 53.50 pence
Year-to-date change: down 16%
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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