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Water Hall Group / Petards Group

  • BY: Andrew Hore |
  • POSTED: 22/01/2013 |

Water Hall Group has dropped its requisition request for a general meeting at security equipment supplier Petards Group following the appointment of its own chairman Raschid Abdullah as executive chairman. 

Tim Wightman, who has been with the company for a decade, has stepped down as chairman. Raschid Abdullah will receive the same pro rata salary as chairman. Petards will consider strategic acquisitions.

It was clear that Water Hall had enough backing to win the proposed votes so it was not worth going ahead with the general meeting on 25 January.

At 22.5p a share, down 0.5p, Petards is valued at £2.44m. Water Hall already owns 29.99% of the company.

At 2p a share, Water Hall is valued at £1.59m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJanuary2013_40.pdf

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