Fund manager ACMH Ltd has launched a tender offer of 2.5p a share prior to its proposed departure from Aim.
The shares slumped 2p to 2.25p each, which values ACMH at £1.73m. The tender price was set at the average closing price for the 30 days prior to 21 April 2009.
ACMH demerged its Argo business last summer and it believes that it is too small to warrant the costs of a quotation. A general meeting will be held on 21 May 2009.
ACMH intends to sell its Xanthus Funds business and could generate up to €1m from this disposals.
After the tender offer Andreas Rialas, Farkland Ventures Inc and Wisynco Investments Inc. could own 100% of ACMH. All three of these shareholders are effectively the Rialas family.
The cancellation of the Aim quotation is expected to happen on 1 June 2009.
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