RE: Offer of 535 pence for each BOTB Share21 Jun 2023 13:10
The Offer document states finnCap, the company's Nomad and corporate broker, has formally given its opinion to the Board that the financial terms of the Offer are not fair and reasonable. Despite this, the Board appears to endorse the Offer on the basis that not doing so would leave PIs completely exposed. This sounds like blackmail of a sort. Could this be a matter for the FCA if the Board has demonstrably not performed its fiduciary duty considered to act in the best interests of shareholders? Personally I'm shocked by the Offer. It reads more like a threat than an offer: 'Sell your shares to me below the undisturbed market valuation and your financial adviser's formal opinion or else we'll make life very difficult for you'. Anyone here with knowledge of how to refer matters to the FCA?