(Alliance News) - Shareholders in cyber-security software firm Defenx PLC will be offered the chance to sell their stake in the firm, majority shareholder BV Tech Spa said on Wednesday.
The "exit opportunity" will allow Defenx shareholders to dispose of their shares to BV Tech, which currently has a 67% stake in the firm, at 3.00 pence each. The 3p offer is an 8% premium to Defenx's three-month volume-weighted average price, BV Tech said.
Shares in Defenx more than doubled on Wednesday, leaping to close at 2.58p each.
Defenx will propose a resolution to cancel trading of its shares at a general meeting on December 20.
If the motion is approved, its cancellation will take place on January 7.
By Eric Cunha; ericcunha@alliancenews.com
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