Bob Morton and related interests are being forced to make a mandatory bid for cash shell Armour Group.
Morton and the related interests have a total stake of 46.6% and they are bidding 4.75p a share. Hawk Investment Holdings is the vehicle being used to make the offer.
At 4.63p a share, Armour is valued at £4.5m. There was cash of £4.07m at the end of August 2014, while the NAV was £5.58m, including a £1m loan to Armour Home Electronics.
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