Cosalt, the struggling Grimsby-based safety company for the oil and gas sector, is considering an offer from its non-executive chairman.
David Ross, whose family has been involved with Cosalt for 50 years, has made an offer of 0.1p per share, valuing the company at £404,000. The current market capitalisation is approximately £1.86m, so the offer is at a huge discount. Cosalt's share price at 10:45am was 0.46p, down 40% on the day, 87% on the year and 99.82% over the last five years.
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