IN BRIEF: Inspecs interim chair steps down, consortium offer closes

Inspecs Group PLC - Bath, England-based producer of eyewear solutions - Interim Non-Executive Chair Christopher Hancock intends to step down and will not stand for re-election at the annual general meeting in June. Says Robin Totterman will resume the role of executive chair immediately following the AGM. Hancock assumed the interim role in June last year and "helped navigate the Company through the series of unsolicited approaches it received, culminating in the recommended offer from Bidco 1125 Ltd". Inspecs notes his "valuable contribution", which started with "his assistance in the acquisition of Killine in 2016".

Also on Monday, Bidco 1125 confirms that its offer closed for acceptance on Friday evening, "and is therefore no longer capable of being accepted." Notes that it currently holds 69.6 million shares, representing a stake of around 68.5%. The investment vehicle is indirectly owned by a consortium of Luke Johnson and Ian Livingstone.

Current stock price: 82.20 pence

12-month change: up 85%

By Emma Curzon, Alliance News reporter

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