RE: Interserve statement of affairs28 Jun 2019 22:39
Pundit1- yes you are correct but these weren’t traded on the open market, so there will be no requirement for a RNS. Essentially the lenders gave them all an agreed price per share to get the deal through, so this could have been £1, £2 per share or any other number you can think of, so you can see why the BOD were willing to get this deal through as they have profited handomsely. Also if they were paid for their shares on 14th March for instance, the company went private next day so no need to report anything anyway. This also why they “waived “their entitlement under the proposed open offer, since they knew they would not have the shares at that point as they would have cashed in on their existing shares.