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Gladstone
- BY: Andrew Hore |
- POSTED: 08/12/2008 |
Gladstone has sent out its second circular rejecting the bid from Constellation Software Inc.
The membership and education software provider still says the 25p a share bid does not fully reflect the value of the company.
The document refutes a number of statements by Constellation in its recent document. There is no underlying change in the views of the Gladstone board.
Constellation says that it has picked up 330,000 shares in the market.
Gladstone is encouraging anyone who has already accepted the bid to withdraw their acceptance if the bid is not declared unconditional on 12 December. A withdrawal of acceptance form has been sent with the circular and can also be found on Gladstone’s website www.gladstoneplc.com or by telephoning the Shareholder Helpline 0844 815 3571.
In reality, there are unlikely to be many investors who will withdraw their acceptance. The key is how many more will accept the bid.
Gladstone shares were unchanged at 24.5p each.
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