(Alliance News) - Braveheart Investment Group PLC on Wednesday said it has made a private all-share offer to Paraytec Ltd shareholders for the remaining stake it does not already hold.
Shares in Braveheart were up 4.4% at 11.75 pence in London in afternoon trading.
Braveheart already holds a 56% stake in Paraytec, developer of specialist detectors for used in analytical and life sciences instruments, and plans to issue 995,191 of new Braveheart shares - worth around GBP111,652.
Fund management and strategic investor Braveheart said shareholder accepting its offers must approve a drag-along right, agreeing that if over 75% of shareholders agree to Braveheart's offer then all other shareholders must sell their shares as well at the same price.
The offer remains open until September 30, before lapsing.
Braveheart Inv (BRH)