Williams seeks to buy up DM shares
A major shareholder at Herefordshire marketing company DM has made a bid to buy the company for £2.94m.
The Ross-on-Wye-based company told the Stock Exchange this morning (7 December) that Adrian Williams had reached an agreement with the company's independent director on the terms of a recommended cash offer.
Williams currently owns the majority of the company, and has made an offer of 1.8 pence per share for the remaining £480,000 stake.
The offer values the entire existing issued and to be issued share capital of DM at about £2.94m.
Williams, who will fund the deal from his own existing cash resources, indicated that he may "utilise his shareholding in DM to seek to cancel the admission to trading of DM Shares on AIM and to re-register DM as a private company".
If agreed by shareholders, the deal and any de-listing would be completed by 27 January.
