(Alliance News) - Defenx PLC said Tuesday majority shareholder BV Tech Spa has acquired further shares in the firm.
Last Wednesday, BV Tech offered other shareholders in the cyber-security firm the chance to sell their stake.
The "exit opportunity" was to allow Defenx shareholders to dispose of their shares to BV Techwhich held a 67% stake in the firm. The offer at 3.00 pence was an 8% premium to Defenx's three-month volume-weighted average price, BV Tech said.
On Tuesday, Defenx said BV Tech acquired 104,000 shares on Friday then a further 57,206 shares on Monday, for a combined total cost of GBP4,836. These smaller purchases followed 1.3 million and 572,500 shares purchased on Wednesday and Thursday last week, respectively, for GBP54,676 total.
BV Tech now holds an interest in 27.9 million Defenx shares, representing a 72% stake.
Shares in Defenx were 2.6% higher in London on Tuesday at 2.82 pence each, giving it a GBP1.1 million market capitalisation.
By Paul McGowan; paulmcgowan@alliancenews.com
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