News blog
Astaire Group / Evolve Capital
- BY: Andrew Hore |
- POSTED: 15/07/2011 |
- COMMENTS: Add yours
Evolve Capital intends to offer shareholders in Astaire the chance to swap their shares for Evolve shares or receive a cash payment for them.
Evolve Capital owns 53.6% of Astaire. No cash figure has been announced for the potential bid, which will require the agreement of the other shareholders.
Evolve reckons that Astaire has cash of up to 2p a share but it is difficult to assess the value of its other investments and assets.
At 1.35p a share, Astaire is valued at £2.77m. Astaire had a net asset value of £6.68m at the end of 2010. The balance sheet included £4m in cash.
Evolve consolidates the Astaire results and reported a loss of £4.16m from continuing activities. The income of £510,000 relates to Plus-quoted corporate adviser St Helens.
At 1.2p a share, Evolve is valued at £3.4m. The net asset value at the end of 2010 was £9.2m. That includes £4.46m of cash – including the Astaire cash.
Edward Vandyk of Evolve has built up a 3.2% stake in Astaire. In the past month, Astaire’s chairman James Noble bought 1.2m shares at 0.825p a share and 0.85p a share. He had to wait until the 2010 figures were published at the end of June.
Download the June 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFJuly2011_22.pdf
© 2007 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- 2.4mNumber of messages posted on SocialGo networks
- $38mCost savings generated by ideas from WalMart staff over a two month period
- 19.4m
Number of people passing through Johannesburg Airport in 2007
- News Blog
- All micro news
Sanderson Group
Enterprise software provider Sanderson Group is continuing to benefit from growth in multi-channel retailing.
Resources In Insurance Group
Claims management services provider Resources In Insurance Group has slashed its loss in 2011.
atUK
e-commerce services provider @UK has gained a four year national e-commerce framework agreement for all UK public bodies.
Hydrogen Group
Recruitment firm Hydrogen Group says that net fee income for the first four months of 2012 was higher than the same period last year.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|