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.
© 2019 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Omega Diagnostics will lose money this year, but it is on course to become profitable in 2020-21 as sales of the VISITECT CD4 test.
House broker Shore Capital has slashed its pre-tax profit forecast for engineer Tricorn Group by two-thirds to Â£420,000.
Evgen Pharma has entered into an agreement with The University of Dundee for the use of SFX-01 in a clinical trial in non-alcoholic steatohepatitis and liver fibrosis, where there is no existing treatment.