TClarke backs GBP91 million takeover bid from gas supplier Regent

(Alliance News) - TClarke PLC on Tuesday said it had agreed to a takeover by Regent Gas Holdings Ltd, a provider of gas and metering services to industrial and commercial customers in the UK.

The London-based engineering services firm has received a cash offer of GBP90.6 million for the company's entire share capital.

At 160.00 pence per share, the proposed sum is a 28% premium to its 125.00p closing price on Monday. Shareholders will also receive the 2023 final dividend of 4.525p as announced on March 15.

TClarke shares were up 29% to 161.00 pence each in London on Tuesday afternoon.

TClarke Chief Executive Mark Lawrence said: "This transaction presents tremendous opportunities for TClarke to chart its own course as part of a larger group with significant financial strength, flexibility and autonomy as TClarke continues to pursue its long-term strategies that will drive sustainable growth and innovation."

By Elijah Dale, Alliance News reporter

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