Alternative Networks, an AIM-listed UK business communications service provider, has announced that it received tender offers for 4.22m shares, meaning the offer was more than two times over-subscribed.
Under the terms of the offer, shareholders could tender all or part of their shareholding for cash to be acquired by Investec Investment Banking, for up to a total aggregate consideration of £5.0m.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
As such, Investec Investment Banking will acquire 1.99m shares at 251p which will then be cancelled, and qualifying shareholders who tendered their ordinary shares will be scaled back by 52.8%, and therefore will have successfully tendered 47.2% of the shares they tendered.
NR
-
Nationwide promises to protect all its branches from closures until at least 2030The building society has extended its pledge to keep all high street Nationwide and Virgin Money branches open, now until at least 2030.
-
Could dividend tax nearly double in the Budget?Self-employed directors and investors, including pensioners, who get an income from company shares would be hit if the rumoured move to hike dividend tax goes ahead.
