News blog
Dawson International
- BY: Andrew Hore |
- POSTED: 22/05/2008 |
Leeds Group has acquired 28.76% of Dawson International.
Aim-quoted Leeds paid £971,000 for the stake – equivalent to 1.5p a share. Shares in Dawson rose 0.25p to 1.875p on the news.
The stake appears to have been acquired from Third Advance Value Realisation Company Ltd. Leeds non-executive director Peter Gyllenhammar owns 0.16% of Dawson.
Leeds says that it views the stake as an investment and it doesn’t intend to increase it above 30%. Its management wants to work with Dawson’s management in order to help to increase the value of the business.
Leeds was historically involved in the textiles sector but most of those businesses were sold. It still owns German-based fabric wholesaler Hemmers-Itex, which generated a pre-tax profit of £662,000 in the year to September 2007. Leeds moved into the leasing business but this activity has been sold.
Leeds had net cash of £1.66m at the end of September 2007, while the net asset value – including intangibles - was 34.4p a share. Since then it has bought back 390,000 shares for £75,000. At 18p a share, Leeds is valued at £5.59m.
Dawson has been in bid talks with its cashmere supplier Lingwu Zhongyin Cashmere Company since last August. There has been no new news about these talks.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|