News blog
Gladstone
- BY: Andrew Hore |
- POSTED: 06/11/2009 |
Membership and educational software supplier Gladstone has received bid approaches from third parties, one of which is offering 33p a share.
At the end of 2008, Gladstone persuaded shareholders to reject a 25p a share offer from 29.9% shareholder Constellation Software Inc. Constellation gained the support of shareholders owning 41.3% of Gladstone – mostly its own shares, of course.
During March, Gladstone successfully fought off an attempt by Constellation’s president Mark Leonard to gain a seat on its board.
Discussions are at an early stage.
At 30p a share, Gladstone is valued at £14.5m. The net asset value was £14.6m at the end of February 2009, or £6.3m excluding intangibles. There was cash of £4.19m at the end of February 2009 and that could rise to £5.1m by the end of August 2009. The company’s property assets will be revalued for the full year figures to the end of August 2009.
Andrew Burgess has been buying shares in recent weeks. He has taken his stake to 4.03%.
© 2025 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 This material may not be published, broadcast, rewritten or redistributed.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
|