Telecoms equipment and technology developer Scotty Group has “received an expression of interest from a third party”.
Discussions are at an early stage so, even if there is a bid, it could take a while for it to be tabled.
At 19.5p a share, up 6.5p since the bid talks were revealed, Scotty is valued at £3.94m.
Net debt was £93,000 at the end of 2009.
Delays in government contracts have held back progress. Scotty reported revenues of £7.13m for the 17 months to December 2009, which was not much higher than the previous 12 months. The reported profit of £472,000 was lower than the profit for the previous year.
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