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Datong

  • BY: Andrew Hore |
  • POSTED: 22/02/2013 |

Electronic surveillance products supplier Datong has been approached by a potential bidder and the share price rose by nearly one-quarter. 

Datong has decided to commence a formal sales process although the Takeover Panel has said that none of the potential bidders have to be identified and the process will not be subject to a 28 day deadline. Cavendish Corporate Finance will advise on the sale process.

At 48.5p a share, up 9.5p, Datong is valued at £6.71m. There was £2.48m in the bank at the end of September 2012.

Datong’s performance has been hit by contract delays and problems with US budget agreements. This has been behind a slump into loss and a decline in the share price. 

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFFebruary2013_41.pdf

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