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Armour Group

  • BY: Andrew Hore |
  • POSTED: 19/12/2014 |

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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