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LONDON (Alliance News) - Peter Jones has taken another step forward in his acquisition of Expansys PLC, according to a stock market filing Thursday.
The filing showed that PDJ Bidco, the limited liability company Jones established to make the offer, has received valid acceptances from 15.91% of the issued share capital of Expansys, while Medical Debenture Investments has undertaken to accept Jones' offer for a further 117.0 million shares, about 10.07% of the company's issued share capital, as previously announced.
In February Jones increased his offer to 0.65 pence a share, valuing Expansys at GBP7.6 million.
Jones, a panelist on the BBC television programme Dragons' Den, had originally offered 0.54 pence but increased in to 0.62 pence in mid-February, before upping it again.
Jones originally moved to acquire Expansys, a company for which he is deputy chairman, in mid-January, when he acquired 110.3 million shares from a large institutional shareholder at 0.525 pence a share, taking his stake to above 50%. Under takeover rules, he was obliged to make an offer for the rest of the shares.
Expansys shares were midday Thursday quoted at 0.640 pence, up 0.015 pence, or 2.4%.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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