(Alliance News) - Smartspace Software PLC shares fell on Tuesday, after it said the deadline for a bid by Skedda Holdings Inc has been extended to February 6.
Smartspace is a designer and builder of smart software solutions based in Bury St Edmunds, England. Its shares closed down 11% to 60.00 pence each in London on Tuesday.
In December, Skedda Holdings Inc announced that it had made a GBP25.0 million cash offer for the entire share capital of Smartspace. Venue management software provider Skedda offered 82p per share for Smartspace.
This, Skedda said, at the time, represented "a very compelling opportunity" for Smartspace shareholders "to realise their investment...at a very significant premium".
On Tuesday, Smartspace said the deadline for a bid by Skedda has been extended to February 6.
"There can be no certainty either that an offer will be made nor as to the terms of any offer, if made," Smartspace said.
By Sophie Rose, Alliance News senior reporter
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