News blog
SWP
- BY: Andrew Hore |
- POSTED: 25/09/2016 |
SWP Group has agreed a 9p a share management buyout.
The cash bid values the building products suppler at £18.3m and the recommendation is from the one independent director. The bidder has been set up by the other four directors of SWP. They will be swapping their shares for shares in the bid vehicle.
The board believes that SWP is too small to be a quoted company.
Sales were 5% ahead in the year to June 2016. The sale of a 40% stake in a related company has brought in £2m.
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