News blog
Arden Partners
- BY: Andrew Hore |
- POSTED: 29/03/2012 |
Former non-executive director Grahame Whateley has made an approach to Aim adviser Arden Partners and a bid of 37p a share has been suggested.
That is slightly higher than the current share price. At 36p a share, Arden is valued at £9.72m. There could also be a partial share alternative allowing shareholders to retain an interest in a new private holding company.
Whateley bought more than 2.3m shares at the end of January. That took his stake to 14.2%. Lloyds Banking had been a seller at that time. The share price was around the present level and buying prices cannot have been any higher than 37p. He raised £800,000 when he sold 500,000 shares at 162p each at the time that Arden joined Aim in July 2006.
Whateley runs Cedar Invest a private equity business involved predominantly in property as well as other sectors. One of its areas of interest is described as ‘Stockbrokering’.
The advent of electronic trading platforms has hit brokers. Arden has reduced its overheads and corporate finance work is described as satisfactory. Trading in the first four months of the year has been better than budget.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMarch2012_30.pdf
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