RE: Sofon.......4 Sep 2019 19:51
A bid required to be made under Rule 9 of the City Code on Takeovers and Mergers, broadly where: the bidder and any persons acting in concert acquire shares carrying 30% or more of the voting rights of a target; or if a bidder, together with any concert parties, holding not less than 30% but not more than 50% of the voting rights increases its holding. Rule 9 requires a mandatory offer to be made in cash (or be accompanied by a cash alternative) and at the highest price paid by the bidder or any concert party for any interest in shares of the relevant class during the 12 months prior to the announcement of the offer.
Got it, but what do you think Tom's intentions are?
To keep buying at these levels or less then maybe buy us out completely, we'd have to get a lot more than where we are now?
Net asset value has to be around 70/80p now surely.......