Almorah Services Ltd is interested in bidding for film producer and library owner Handmade.
No formal offer has been made as yet, though. Handmade is having one of its regular periods when the shares are suspended. Normally it is because Handmade has not published its results in the requisite period of time but this time it was due to its uncertain financial position.
At the 7 January 2010 suspension price of 9.5p, the company is valued at £22.1m. There is no certainty that a bid will be as much as 9.5p a share.
Almorah Services is not registered in England and Wales.
Neither major Handmade shareholder Cartier Investments nor former director Patrick Meehan are involved in the bid according to Almorah.
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