Northern Bear yesterday proposed a return of capital of up to £3.1m by way of Tender Offer for up to 5m ordinary shares at 62p per share, a premium of 26% to the volume weighted average price over the prior month. The Tender Offer will be funded with the existing cash resources and an increase of £1.0m to its existing debt facilities of £4.5m. The Company currently has no bank debt. Since 1 April 2023, the Company’s average month-end balance was £1.3m of net cash and the low point was £0.6m of n ....
24 Oct 2023
Hybridan Research: 24/10/2023: Northern Bear Plc: Returning up to £3.1m to shareholders
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Hybridan Research: 24/10/2023: Northern Bear Plc: Returning up to £3.1m to shareholders
Northern Bear Plc (NTBR:LON) | 59.0 0 0.0% | Mkt Cap: 8.11m
- Published:
24 Oct 2023 -
Author:
Emily Liu -
Pages:
8
Northern Bear yesterday proposed a return of capital of up to £3.1m by way of Tender Offer for up to 5m ordinary shares at 62p per share, a premium of 26% to the volume weighted average price over the prior month. The Tender Offer will be funded with the existing cash resources and an increase of £1.0m to its existing debt facilities of £4.5m. The Company currently has no bank debt. Since 1 April 2023, the Company’s average month-end balance was £1.3m of net cash and the low point was £0.6m of n ....