Elektron yesterday held a general meeting approving the sale of its Bulgin operations for £105m gross, in-line with the group’s update on the 31st July. The key highlight from the announcement is management’s intention to return up to £81m to shareholders through a repurchase offer for two shares for every three held. Assuming the tender is entirely taken-up, c43p/share of value would be returned to shareholders leaving an estimated £14m of net cash (after restructuring costs) to drive continued ....
04 Sep 2019
General meeting approves Bulgin sale
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General meeting approves Bulgin sale
Checkit plc (CKT:LON) | 21.0 0 0.0% | Mkt Cap: 22.7m
- Published:
04 Sep 2019 -
Author:
Caspar Erskine -
Pages:
3
Elektron yesterday held a general meeting approving the sale of its Bulgin operations for £105m gross, in-line with the group’s update on the 31st July. The key highlight from the announcement is management’s intention to return up to £81m to shareholders through a repurchase offer for two shares for every three held. Assuming the tender is entirely taken-up, c43p/share of value would be returned to shareholders leaving an estimated £14m of net cash (after restructuring costs) to drive continued ....