News - Yorkshire
£7.8m share offer by Vp
Equipment rental business Vp has made an offer to acquire shares in a move which could result in £7.8m being paid out to shareholders.
The business, which has posted a circular to shareholders about its intention to purchase one in every 14 ordinary shares, told the Stock Exchange its offer was at 250 pence per ordinary share.
If the maximum number of 3,088,786 ordinary shares is acquired under the tender offer it will result in about £7.8m being paid by Vp to participating shareholders.
The Harrogate business reported pre-tax profit of £10.4m in the six months to 30 September 2011 - up 21 per cent on the £10.4m a year ago.
Revenues also increased by 18 per cent to £84m.