Share receives takeover approach from Interactive Investor Services
04 MAY 2019
Share [LON:SHRE], a UK-based retail stockbroker, has received a takeover approach from the UK-based trading platform operator Interactive Investor Services. Share confirmed the approach in a stock exchange announcement on Friday, 3 May.
Stephens Europe Limited is financial adviser to Share, while Cenkos Securities is Share's broker. KTZ Communications is acting as public relations adviser to Share.
Share’s share price closed 4.0p up at 34.5p in London on Friday, giving the company a market capitalisation of GBP 49.5m (EUR 58.1m).
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Stock exchange announcement
Statement re. Possible Offer and Rule 2.9 announcement
The board of directors of the Company (the "Board") notes the recent rise in the Company's share price. The Board can confirm that it has received a preliminary approach which may or may not lead to an offer being made for the Company. The preliminary approach for the Company is from Interactive Investor Services Limited ("Interactive Investor"). There can be no certainty that an offer will be made for the Company, nor as to the terms on which an offer may be made.
Rule 2.6(a) of the Takeover Code, requires that Interactive Investor, by no later than 5.00 p.m. on 31 May 2019 (the "relevant deadline"), either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Takeover Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Takeover Code applies. This deadline will not be extended other than with the consent of the Takeover Panel.
This is an announcement falling under Rule 2.4 of the Takeover Code and does not constitute an announcement of a firm intention to make an offer under Rule 2.7 of the Takeover Code.
A further announcement will be made as and when appropriate.