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Universe Group / Brulines

  • BY: Andrew Hore |
  • POSTED: 02/11/2009 |

Universe Group has received consent from Brulines to sign its new contract with a major supermarket so there is no need for a shareholder meeting.

The loyalty and payment systems provider was going to hold a shareholder meeting to gain approval for the contract because it was in a bid situation and the bidder, Brulines had not consented to the new contract which includes a change of control clause that would enable the customer to immediately cancel the contract if Universe is taken over.

At 4.875p a share, Universe is valued at £5.59m.

At 140.5p a share, Brulines is valued at £39.2m.

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