News blog
Plus Markets Group
- BY: Andrew Hore |
- POSTED: 06/06/2012 |
Many shareholders are not happy with the board of Plus Markets Group and their plan to sell Plus-SX to ICAP for £1.
Some shareholders have proposed that Malcolm Basing and Cyril Theret be removed from the board. These motions will be included at the AGM.
A majority of the shareholders voting need to agree to the sale of Plus-SX at the same meeting. It appears that a significant minority of the company’s shares are owned by investors against the deal. They believe that the Recognised Investment Exchange status is worth a lot more than Plus Markets is receiving for the business.
However, if they do vote against the deal there will continue to be a cash outflow from the business which Plus Markets will not be able to cope with for long. That means that a new buyer will need to be found quickly. Gulf Merchant Bank has already expressed interest.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMay2012_32.pdf
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