Tender offer bonanza for PSG shareholders

Property information firm PSG Solutions has announced a tender offer that will give shareholders to sell some of their shares back to the company at a sharp premium to the prevailing market price.

Property information firm PSG Solutions has announced a tender offer that will give shareholders to sell some of their shares back to the company at a sharp premium to the prevailing market price.

The proposed deal will see PSG's broker, Northland Capital Partners, offering to buy up to 1.84m ordinary shares at 225p per share, with PSG then buying them back at a total cost of up to £4.14m and cancelling them; in other words this is a share buyback that will directly benefit shareholders, rather than just market makers.

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