News blog

PSG Solutions

  • BY: Andrew Hore |
  • POSTED: 03/08/2011 |

PSG Solutions intends to launch a tender offer at much more than double the present share price.

PSG is willing to buy back just over 1.5m at 200p a share. The share price jumped 32.5p to 84p. Much of that rise came on the back of the previous day’s announcement that a government contract for Audiotel products had been increased to £48.7m.

Chief executive Jonathan Mervis has the opportunity to make a quick turn on some of the 1.2m option shares that he has bought for 50p each. That takes Mervis’s stake in PSG to 14.9%.

PSG is valued at £21.8m. The tender offer will cost up to £3m. A general meeting will be held on 31 August.

Download the July 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFJuly2011_22.pdf

© 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 This material may not be published, broadcast, rewritten or redistributed.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

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds