(Alliance News) - Oryx International Growth Fund Ltd on Friday noted bids for its holdings in Tribal Group PLC, Pendragon PLC and Smoove PLC.
The Guernsey-based investment fund said the offer for Tribal, a Bristol-based educational software and services provider represents a 41% premium to its recent share price and would return GBP14.8 million to Oryx at completion.
Smoove, an Oxon, England-based software solutions provider for the housing market would return about GBP1.6 million, while Nottingham, England-based automotive retailer Pendragon received multiple bids.
"We are pleased that the fund continues to navigate through difficult public markets and deliver value for our shareholders. The enhanced cash position and permanent capital structure will allow it to continue to target undervalued businesses at opportunistic moments," Oryx said.
Oryx International Growth Fund shares were 0.9% higher at 1,080.00 pence each on Friday afternoon in London.
By Tom Budszus, Alliance News reporter
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Oryx International Growth (OIG)
Tribal Grp. (TRB)