LONDON (Alliance News) - Bonmarche Holdings PLC on Thursday said that Cavendish Asset Management Ltd now owns 9.72% stake in the company.
Prior to a deal completed on Wednesday, Cavendish's holding in the fashion retailer, if any, was not disclosed.
Bonmarche shares were trading up 7.6% at 13.99 pence each on Thursday afternoon.
The retailer on Tuesday received a takeover offer by Spectre Holdings Ltd, valuing the company at GBP5.7 million.
However on the same day, Bonmarche advised its shareholders to take "no action" in relation to the offer priced at 11.445 pence per share, a 34% discount to Bonmarche's GBP8.7 million market value Monday's close.
